MarketFriction

Inox Wind Ltd

NSE INOXWIND · BSE 539083 · Heavy Electrical Equipment
₹68.75 -1.09%
NSE close2026-10-01
52 week range68.00 - 159.30
Market cap₹12,357 Cr.
P/E35.9
IPO 2015 · -15% since Nifty 500Nifty Smallcap 50Nifty Smallcap 100Smallcap 250Nifty Energy No price band Delivery 39.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3715035286407339111,2758261,1191,2071,244814
Expenses3224114295055677071,0216438919261,045662
Operating Profit489399135166204254184228282200152
OPM %13%18%19%21%23%22%20%22%20%23%16%19%
Other Income16121181168363643316158
Interest646357564434353451506557
Depreciation262830424547484951535259
Profit before tax-26331558819020813816920914495
Tax %4%45%-4%24%4%42%8%29%29%40%27%32%
Net Profit-2723342841101909712112710664
EPS in Rs-0.170.010.340.070.190.841.350.610.530.680.530.25
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,4453,4054651,4367607116257371,7463,5574,3974,385
Expenses3,7112,8635481,2878779029259981,4842,8003,5063,524
Operating Profit734542-83149-116-191-300-261262757891861
OPM %17%16%-18%10%-15%-27%-48%-35%15%21%20%20%
Other Income488426231176191946134172193
Interest98155171169244255283341240169200223
Depreciation35445266808889106113182204214
Profit before tax649427-280-62-430-459-653-689-45539659617
Tax %29%29%-33%-36%-35%-33%-26%-3%7%19%32%
Net Profit461303-188-40-279-307-483-671-48438449417
EPS in Rs4.883.21-1.99-0.42-2.96-3.24-5.08-4.81-0.263.232.341.99
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth0%44%81%17%
Compounded Profit Growth-1%27%38%-22%
Stock Price CAGR4%24%15%-49%
Return on Equity-4%-2%7%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2222222222222222222222223263911,6241,728
Reserves1,1701,6651,9681,7821,7431,4641,0946881,4102,4172,7884,654
Borrowings8741,4571,6741,0621,3051,1211,5662,6372,4162,0781,4741,587
Other Liabilities9301,4341,2911,0321,4712,4852,5822,4171,9301,8672,7173,994
Total Liabilities3,1964,7785,1554,0984,7415,2925,4645,9656,0826,7548,60311,963
Fixed Assets2035277659859731,2281,1911,3431,6191,8432,2912,825
CWIP4943112206633230148123304296247
Investments06325309194333310446550
Other Assets2,9444,1464,0243,0943,6113,9364,0104,4404,3404,6075,5718,341
Total Assets3,1964,7785,1554,0984,7415,2925,4645,9656,0826,7548,60311,963
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-106-163114269147733-112-475-1,100-366138-598
Cash from Investing Activity-148-968-5332-264-346-49-74231487-406-850
Cash from Financing Activity95850119-76076-385282486824-1302771,558
Net Cash Flow704-630128-159-402122-62-45-99110
Free Cash Flow-210-567-1768410462-231-654-1,488-881-483-1,246
CFO/OP-6%-4%44%-373%101%-650%68%155%424%-117%19%-64%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1931982551,051414635538627410238262353
Inventory Days93741332,8654111,363733940843441213268
Days Payable1551581871,6533871,446829663460214188178
Cash Conversion Cycle1301152022,263438552442905792464287443
Working Capital Days544868614138-217-430-259-1175133267
ROCE %28%26%16%-3%3%-6%-8%-11%-8%4%12%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters64.64%52.87%52.87%48.27%48.27%48.27%48.27%44.18%44.18%44.18%44.18%44.18%
FIIs3.48%9.49%9.47%13.37%15.82%15.26%15.68%13.78%13.37%14.16%14.60%14.53%
DIIs6.54%9.88%10.16%9.75%9.09%9.80%9.44%9.12%9.87%10.37%10.96%10.02%
Public25.34%27.76%27.49%28.62%26.83%26.68%26.61%32.93%32.59%31.30%30.25%31.28%
No. of Shareholders70,51287,9021,17,4842,26,9753,27,5163,87,1053,80,2494,23,4644,52,2734,56,8234,73,1865,15,129

Fundamentals

Market Cap₹ 12,357 Cr.
Current Price₹ 71.5
Stock P/E35.9
Book Value₹ 36.9
ROCE10.6 %
ROE7.50 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)17%
Compounded Profit Growth (TTM)-22%
Consolidated figures.
Valuation
Market capRs 11,882 Cr
Enterprise valueRs 12,857 Cr
P/E (TTM)34.50x
Price to book1.86x
Price to sales2.71x
EV / EBITDA12.19x
EV / EBIT15.30x
EV / sales2.93x
Earnings yield2.90%
P/E, 3-year average45.22x
P/B, 3-year average3.25x
P/E, 5-year average45.22x
P/B, 5-year average2.17x
Profitability
Operating margin (excl. other income)20.27%
Operating margin (incl. other income)24.18%
EBITDA margin24.05%
Pre-tax margin14.08%
Net profit margin7.85%
Net margin, latest quarter5.40%
ROE7.50%
ROCE12.40%
ROA3.94%
ROE, 3-year average6.12%
ROCE, 3-year average9.96%
ROA, 3-year average3.07%
ROE, 5-year average-15.04%
ROCE, 5-year average1.86%
ROA, 5-year average-2.05%
ROIC (approx.)7.78%
Tax rate31.86%
Other income / net worth2.69%
Growth
Sales growth (latest year)23.63%
Profit growth (latest year)-9.63%
Sales CAGR, 3 years81.38%
Sales CAGR, 5 years43.98%
Sales growth QoQ-34.57%
Profit growth QoQ-51.79%
Sales growth YoY (latest quarter)-1.47%
Profit growth YoY (latest quarter)-58.44%
Per share
EPS (TTM)Rs 1.99
EPS (latest year)Rs 2.34
EPS (latest quarter)Rs 0.25
EPS, 3-year averageRs 1.40
EPS, 5-year averageRs -7.58
Book value per shareRs 36.93
Sales per shareRs 25.37
Cash flow per shareRs -3.46
Free cash flow per shareRs -7.21
Efficiency
Asset turnover0.37x
Fixed asset turnover1.56x
Inventory turnover1.60x
Inventory days228 days
Debtor days353 days
Debtors turnover1.03x
Creditor days178 days
Cash conversion cycle443 days
Working capital days267 days
Leverage
Total debtRs 1,587 Cr
Cash and bankRs 612 Cr
Net debtRs 975 Cr
Debt to equity0.25x
Net debt / EBITDA0.92x
Interest coverage3.77x
Current ratio (filing 2026-03-31)2.01x
Quick ratio (filing 2026-03-31)1.54x
Trade payables (filing 2026-03-31)Rs 1,190 Cr
Owners' fund to total sources53.35%
Debt to assets13.27%
Cash flow
Cash from Operating Activity (latest year)Rs -598 Cr
Cash from Investing Activity (latest year)Rs -850 Cr
Cash from Financing Activity (latest year)Rs 1,558 Cr
Net Cash Flow (latest year)Rs 110 Cr
Free cash flow (latest year)Rs -1,246 Cr
FCFE (approx.: FCF + change in debt)Rs -1,133 Cr
Statement figures
Net sales (TTM)Rs 4,385 Cr
Net sales (latest year)Rs 4,397 Cr
Sales (latest quarter)Rs 814 Cr
Operating profit excl. other income (latest year)Rs 891 Cr
Operating profit (latest quarter)Rs 152 Cr
Other income (TTM)Rs 193 Cr
EBITDA (TTM)Rs 1,055 Cr
PBDT (TTM)Rs 832 Cr
Profit before tax (TTM)Rs 617 Cr
Tax (latest year)Rs 210 Cr
Net profit (TTM)Rs 344 Cr
Net profit (latest year)Rs 405 Cr
Net profit (latest quarter)Rs 44 Cr
Depreciation (TTM)Rs 214 Cr
Depreciation (latest quarter)Rs 59 Cr
Interest (TTM)Rs 223 Cr
Cost of goods sold (latest year)Rs 2,865 Cr
Total expenditure (latest year)Rs 3,506 Cr
Total income (latest year)Rs 4,569 Cr
Share capitalRs 1,728 Cr
ReservesRs 4,654 Cr
Shareholders' fundsRs 6,382 Cr
Total assetsRs 11,963 Cr
Net blockRs 2,825 Cr
Capital work in progressRs 247 Cr
InvestmentsRs 550 Cr
ReceivablesRs 4,250 Cr
InventoryRs 1,790 Cr
Other liabilitiesRs 3,994 Cr
Shares outstanding (crore)172.82
Ownership
Promoter holding44.18% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 34.5 is at the 45th percentile of its own 2.8-year range (median 34.8, low 13.3, high 146.7).
P/B 1.86 is at the 28th percentile (median 3.22).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodINOXWINDNifty 50Difference
1 week-5.9%-2.8% -3.2 pts
1 month-1.1%-6.8% +5.7 pts
3 months-21.9%-7.6% -14.3 pts
6 months-8.9%+0.4% -9.3 pts
1 year-51.3%-9.9% -41.4 pts
2 years-72.9%-13.6% -59.3 pts
3 years+42.5%+14.2% +28.3 pts
5 years+177.3%+27.9% +149.4 pts
78 mutual fund schemes hold about ₹1,006 Cr. Over three months 8 bought more and 31 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Aggressive Hybrid Fund(A0.37%195 -2%
Bandhan Small Cap Fund0.36%125 -16%
ICICI Pru ELSS-Tax Saver Fund0.83%119 -2%
Nippon India Small Cap Fund0.11%90 -5%
ICICI Pru Energy Opportunities Fund0.74%62 -6%
SBI Arbitrage Fund0.11%51 -8%
Altiva Hybrid Long-Short Fund0.49%45 -24%
HDFC Arbitrage Fund(M0.17%44 +138%
Kotak Arbitrage Fund(M0.05%38 -48%
ICICI Pru ESG Exclusionary Strategy Fund2.10%29 -1%
HSBC Arbitrage Fund(M0.73%24 +130%
ICICI Pru Arbitrage Fund0.07%23 -3%
Aditya Birla SL Arbitrage Fund0.07%20 -2%
Bandhan Arbitrage Fund(M0.23%18 -15%
Bandhan Arbitrage Fund0.23%18 -15%
Edelweiss Arbitrage Fund0.11%17 -5%
Nippon India Nifty Smallcap 250 Index Fund0.31%11 -4%
Nippon India Arbitrage Fund0.05%9 -20%
Nippon India Arbitrage Fund(M0.05%9 -20%
UTI Arbitrage Fund0.08%9 -25%
Axis Nifty Smallcap 50 Index Fund0.82%6 -8%
SBI Nifty Smallcap 250 Index Fund0.31%6 -4%
DSP Arbitrage Fund0.07%5 +117%
Motilal Oswal Nifty Smallcap 250 Index Fund0.31%4 -4%
Taurus Ethical Fund0.80%4 -23%

Red flags

F-score 2 of 8
explainWeak cash conversion Cash from operations was -101% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 67% vs sales +24% in 2026
lookShare dilution Share count up 25% in a year, 25% in three
lookRegulator order or action Regulator order or action 2025-11-17: Inox Wind Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹814 Cr -1.5% vs Jun 2025. Net profit ₹64 Cr -34.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-07-29Rights 5:78 @ Premium Rs 110/-
2024-05-24Bonus 3:10.2500
2022-09-20Annual General Meeting
2021-09-22 Annual General Meeting
2020-09-15 Annual General Meeting
2019-09-06 Annual General Meeting
2018-07-04 Annual General Meeting
2017-09-19 Annual General Meeting
2016-09-14 Annual General Meeting
2015-09-14 Annual General Meeting
DateTypeWhat it says
2026-09-28Shareholder meetingVoting results.
2026-09-25Shareholder meetingProceedings of Annual General Meeting held on September 25, 2026
2026-09-16Concall / analyst meetScheduel of Investor Meetings scheduled to be held on September 21, 2026 and September 28, 2026
2026-09-07Press ReleaseClarification on Press Release dated 3rd September, 2026 regarding 100 MW Order
2026-09-03Shareholder meetingNotice of Annual General Meeting to be held on September 25, 2026
2026-09-03Press ReleaseA press release dated September 03, 2026, titled "Press Release- Inox Wind secures repeat turnkey order from Indian Oil Corporation Limited."".
2026-08-31UpdatesDisclosure under Regulation 7(2)(b) of the SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-08-27Disclosure under SEBI TakeovDevansh Trademart LLP has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisitio...
2026-08-18Disclosure under SEBI TakeovDevansh Trademart LLP  has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Subst...
2026-08-14Shareholder meetingVoting results.
2026-08-13Shareholder meetingProceedings of Extraordinary General Meeting held on August 13, 2026
2026-08-12Concall / analyst meetTranscript
2026-08-11Monitoring Agency ReportMonitoring Agency Report for the quarter ended June 30, 2026
2026-08-07Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-08-07Concall / analyst meetLink of Recording
2026-08-07Investor PresentationInvestor Presentation
2026-08-07General UpdatesGeneral Updates
2026-08-07Board meeting outcomeInox Wind Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-04Concall / analyst meetSchedule of meet
2026-07-29Press ReleaseA press release dated July 29, 2026, titled "Inox Wind secures a 200 MW turnkey order from NLC India Limited".
2026-07-22Shareholder meetingNotice of Extraordinary General Meeting to be held on August 13, 2026
2026-06-29Diversification/DisinvestmenDiversification/Disinvestment
2026-06-23Shareholder meetingVoting results.
2026-06-22Shareholder meetingProceedings of Extraordinary General Meeting held on Jun 22, 2026
2026-06-17Credit RatingCredit Rating
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.52
Max pain (expiry 2026-10-27)72
Largest call open interest at75
Largest put open interest at75
Implied volatility, at the money38.6%
Underlying at snapshot68.75
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-3060
2026-09-2919,196
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-04-07NCLTHitech Competent Builder Pvt. Ltd. Vs Inox Wind Ltd.
2021-04-07NCLTTrinity Touch Pvt.Ltd. Vs Inox Wind Ltd.
2021-04-07NCLTTwin Engineers Pvt.Ltd. Vs Inox Wind Limited
2021-04-07NCLTProcam Worldwide Logistics Pvt. Ltd. Vs Inox Wind Ltd.
2021-04-05NCLTSteel Mech Engineers Vs Inox Wind Ltd.
2021-04-05NCLTGuru Nanak Cranes Vs Inox Wind Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Inox Wind Ltd?

Inox Wind Ltd (INOXWIND) has a market capitalisation of Rs 12,357 Cr. at the 2026-10-01 close.

What is the P/E ratio of Inox Wind Ltd?

Inox Wind Ltd trades at a P/E of 35.9 on trailing twelve-month profit, at the 2026-10-01 close.

What were Inox Wind Ltd's latest quarterly results?

In the Jun 2026 quarter, Inox Wind Ltd sales was Rs 814 Cr (-1.5% vs Jun 2025) and net profit was Rs 64 Cr.

What is the 52-week high and low of Inox Wind Ltd?

The 52-week high is Rs 159.30 and the 52-week low is Rs 68.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03