Inox Wind
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
Inox Wind's management has articulated a strategic pivot towards higher-margin equipment supply and power electronics manufacturing, supported by a robust 4.4 GW order book and favorable government policies aimed at enhancing renewable energy capacity. This transition is critical as it aims to improve working capital efficiency and return on equity, despite recent underwhelming quarterly results. Vista's financial outlook reflects a cautious stance, anticipating revenue contraction and margin pressures, primarily due to execution risks and macroeconomic challenges. The company's long-term growth potential is underpinned by India's aggressive renewable energy targets and the integration of acquired assets, which could provide synergies and recurring income. However, the mixed macro environment, characterized by inflationary pressures and geopolitical risks, poses significant headwinds. Over the next 12-24 months, key opportunities include scaling the 4X turbine platform and leveraging group synergies, while watchpoints include execution risks and competitive pressures in the market
Why We Like This Stock
- Strong 4.4 GW order book provides revenue visibility and supports growth initiatives
- Strategic pivot towards equipment supply and power electronics manufacturing aims to enhance margins and operational efficiency
- Favorable government policies and aggressive renewable energy targets bolster long-term growth prospects
Things To Watch Out For
- Execution risks related to the integration of acquired assets and new product launches could hinder growth
- Ongoing margin pressures and revenue contraction forecasted due to macroeconomic challenges
- Competitive pressures from established players in the renewable equipment manufacturing sector may impact market share
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 1,746 | 3,557 | 4,397 | 3,591 | 4,009 |
| Profit Before Tax (Cr.) | -29 | 550 | 659 | 517 | 596 |
| PBT Margin | -1.7% | 15.5% | 15.0% | 14.4% | 14.9% |
| Net Profit (Cr.) | -31 | 549 | 658 | 388 | 417 |
| Earnings Per Share | -0.1 | 3.2 | 3.6 | 2.1 | 2.4 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Nuvama | ▲ Buy | 123 | 11-Sep-2026 |
| Motilal Oswal | ▲ Buy | 92 | 10-Aug-2026 |
| JMFinancials | ► Hold | 101 | 19-Jun-2026 |
| ICICI Securities | ▲ Buy | 120 | 01-Jun-2026 |
Company Overview
Show Company Profile
Inox Wind Limited engages in the manufacture and sale of wind turbine generators and components for independent power producers, utilities, public sector undertakings, businesses, and private investors in India. It provides wind turbine generator components, including nacelles, hubs, rotor blade, and tubular towers. The company offers various services, such as wind resource assessment, site acquisition, infrastructure development, erection, procurement and commissioning, and long-term operations and maintenance services for wind power projects. Inox Wind Limited was incorporated in 2009 and is based in Noida, India.