Inox Wind
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
Inox Wind is currently navigating a pivotal transition, focusing on enhancing its equipment supply model to improve working capital efficiency and return on equity. Management's optimism is supported by a robust 4.4GW order book and strategic initiatives, including the integration of the Wind World India O&M portfolio, which is expected to yield synergies and recurring income. Despite these positive developments, the company faces execution challenges and macroeconomic headwinds, including geopolitical tensions and customer payment issues, which could impact its ambitious revenue growth target of 75% for FY27. Vista's financial outlook reflects a contraction in revenue and ongoing margin pressure, with a valuation that suggests a potential value trap. The renewable energy sector's growth, bolstered by favorable government policies, provides a supportive backdrop, yet execution risks remain a critical watchpoint. Over the next 12-24 months, Inox Wind's ability to successfully execute its strategic initiatives and manage its working capital cycle will be crucial for its financial performance and market position
Why We Like This Stock
- Strong 4.4GW order book provides revenue visibility and supports management's growth targets
- Strategic focus on high-margin equipment supply and integration of O&M services is expected to enhance profitability
- Favorable government policies and industry growth trends in renewable energy bolster the company's outlook
Things To Watch Out For
- Execution challenges and geopolitical tensions may hinder operational performance and revenue growth
- High working capital cycle and customer payment issues could impact cash flow and financial stability
- Ongoing margin pressure raises concerns about profitability amidst ambitious growth targets
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 1,746 | 3,557 | 4,397 | 3,608 | 4,653 |
| Profit Before Tax (Cr.) | -29 | 550 | 659 | 549 | 717 |
| PBT Margin | -1.7% | 15.5% | 1498.7% | 15.2% | 15.4% |
| Net Profit (Cr.) | -31 | 549 | 658 | 412 | 502 |
| Earnings Per Share | -0.1 | 3.2 | 3.6 | 2.2 | 2.9 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| ICICI Securities | ▲ Buy | 120 | 01-Jun-2026 |
| JMFinancials | ► Hold | 101 | 19-Jun-2026 |
| Motilal Oswal | ▲ Buy | 92 | 10-Aug-2026 |
Company Overview
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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.