Inox Wind Limited Earnings Summary — Q1 FY2027
Inox Wind Maintains Profitability with Strong Consolidated Performance in Q1 FY2027
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 34.6% sequentially in Q1 FY2027.
- Revenue of ₹814 Cr is 1.5% lower year-on-year.
- Revenue has compounded at 21.2% annualised over the last 10 quarters.
- Net profit of ₹44 Cr is 58.4% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at -2.5% annualised across the period.
- Operating margin stands at 18.7% in Q1 FY2027.
- Operating margin compressed by 350 bps year-on-year.
- Over the last two years operating margin has contracted by 231 bps.
- PBT margin is 11.6%.
- Expenses grew 3.0% against revenue growth of -1.5%.
- Operating profit of ₹152 Cr is 17.0% lower year-on-year.
- Operating leverage has been under pressure recently.
- 4 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 42/100 (Moderate) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 814 | 1,244 | 1,207 | 1,119 | 826 | 1,275 | 911 | 733 | 640 | 528 |
| Expenses | Improving | 662 | 1,045 | 926 | 891 | 643 | 1,021 | 707 | 567 | 505 | 429 |
| Operating Profit | Improving | 152 | 200 | 282 | 228 | 184 | 254 | 204 | 166 | 135 | 99 |
| Operating Margin | Stable | 18.7% | 16.0% | 23.3% | 20.4% | 22.2% | 19.9% | 22.4% | 22.7% | 21.0% | 18.7% |
| Other Income | Volatile | 58 | 61 | 31 | 43 | 36 | 36 | 68 | 11 | 18 | 21 |
| Interest | Stable | 57 | 65 | 50 | 51 | 34 | 35 | 34 | 44 | 56 | 57 |
| Depreciation | Improving | 59 | 52 | 53 | 51 | 49 | 48 | 47 | 45 | 42 | 30 |
| Profit Before Tax | Volatile | 95 | 144 | 209 | 169 | 138 | 208 | 190 | 88 | 55 | 31 |
| Tax | Volatile | 31 | 38 | 83 | 49 | 40 | 17 | 80 | 3 | 13 | -1 |
| Net Profit | Volatile | 44 | 91 | 117 | 92 | 106 | 187 | 117 | 26 | 10 | 47 |
| Net Margin | Volatile | 5.4% | 7.3% | 9.7% | 8.2% | 12.8% | 14.7% | 12.8% | 3.5% | 1.6% | 8.8% |
Key Takeaways
- Inox Wind reported a consolidated net profit of ₹6,409 Lakh for Q1 FY2027, maintaining a second consecutive year of positive quarterly earnings.
- Consolidated revenue stood at ₹81,971 Lakh, reflecting a sequential decline from the preceding quarter ended March 31, 2026.
- The Company successfully concluded a Rights Issue in August 2025, raising ₹1,249.33 crores at ₹120 per share to strengthen its capital base.
- Operational EBITDA (including discontinued operations) remained healthy at ₹21,009 Lakh for the quarter.
- The demerger of the Power Evacuation business from IGESL to Inox Renewable Solutions Limited became effective in May 2026, leading to restated consolidated results.
- Management noted legal appeals are in progress regarding ₹5,578 Lakh in bank guarantees and ICDs related to 6 SPVs where project extensions were previously rejected.
- Promoter holding has seen significant dilution over recent periods, transitioning the company toward more institutional funding.
Management Guidance
Management remains focused on the 'Inox Wind 2.0' strategy, emphasizing an asset-light O&M model and the transition to high-rating 3MW/4MW WTG platforms to improve margins.
Sentiment Shift
Stable
While revenue and profit dipped compared to the high-base Q4 FY2026, the company continues to demonstrate a structural turnaround compared to its historically distressed years.
Outlook
The outlook is centered on the successful execution of the robust order book and further deleveraging of the balance sheet through rights issue proceeds and internal accruals.
From the Annual Report (Key Quotes)
“Supply/Commissioning of WTGs against certain contracts does not require any material adjustment on account of delays, if any.”
“The transaction was approved by the Operational Directors... the Company will not lose control as defined in Ind AS 110.”
“Management believes that there will be no significant impact on the statements regarding expired EPCG licenses.”
Official Quarterly Documents
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This summary is AI-generated from Inox Wind Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.