Earnings Review
Inox Wind Q1 PAT falls 58% on shift towards equipment sales
This story was originally published at 21:46 IST on 7 August 2026
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--Inox Wind Apr-Jun consol net profit INR 440 mln
--Analysts saw Inox Wind Apr-Jun consol net profit at INR 802.25 mln
--Analysts saw Inox Wind Apr-Jun consol revenue INR 9.51 bln
--Inox Wind Apr-Jun consol PAT INR 440 mln vs INR 1.06 bln year ago
--Inox Wind Apr-Jun consol revenue INR 8.14 bln vs INR 8.26 bln year ago
--Inox Wind Apr-Jun consol EBITDA INR 2.10 bln vs INR 2.20 bln year ago
--Inox Wind Apr-Jun consol EBITDA INR 2.37 bln vs INR 2.45 bln yr ago
--Inox Wind Apr-Jun consol EBITDA margin 27% vs 28% yr ago
--Inox Wind retains revenue growth guidance at 75% for FY27
--Inox Wind retains FY27 EBITDA margin guidance at 20%-22%
By Somen Bose
MUMBAI – Inox wind Ltd. reported a significant on-year decline in its consolidated net profit for the June quarter despite almost flat revenue. The drop in net profit was largely due to the company's strategic pivot towards equipment supply going forward and investments in backward integration.
The wind energy solutions provider's net profit for the June quarter plunged 58% on year and 52% sequentially to INR 440 million, missing the Street's estimates of INR 802.25 million. Revenue from operations fell marginally on year and 35% on quarter to INR 8.14 billion. Analysts had estimated a top line at INR 9.51 billion.
The company's total expenses in the June quarter increased 7% to INR 7.77 billion. The cost of materials consumed increased 12% to INR 4.46 billion, constituting 57% of the total expenses. The change in inventories of finished goods, work-in-progress and stock-in-trade were at a negative of INR 767.4 million, while the other expenses jumped 55% to 1.08 billion.
The shift towards equipment supply is part of a larger strategy to achieve a healthy balance sheet, the company said in its investor presentation. "It is expected to yield long-term benefits and reflect meaningfully in the financials from Q3 onwards," the company said.
The company's consolidated earnings before interest, taxes, depreciation, and amortisation were at INR 2.10 billion during the June quarter, down 4.5% on year, according to its profit and loss statement. At the same time, the company's EBITDA, excluding other income and other exceptional items, was INR 2.37 billion, down 3% on year, according to its investor presentation. The company reported an EBITDA margin, excluding other income and other exceptional items, of 27% against 28% a year ago, beating analysts' estimates of 20-22%.
Friday, shares of Inox Wind closed marginally down at INR 78 apiece on the National Stock Exchange. The company announced its results after market hours. End
Edited by Deepshikha Bhardwaj
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