Inox Wind Limited — PPTs, 30-05-2025: Investor Presentation

1. Financial Highlights:

Inox Wind reported Q4 revenue of Rs 1,311 Cr, up 130% YoY, and FY25 revenue at Rs 3,702 Cr, nearly doubling from last year. EBITDA rose 103% in Q4 to Rs 290 Cr and 167% for FY25 to Rs 918 Cr. PAT jumped 391% in Q4 to Rs 190 Cr and turned positive for FY25 at Rs 438 Cr vs. a prior loss. Cash PAT surged 800% to Rs 734 Cr in FY25. Execution volumes were strong with 236 MW in Q4 (83% YoY) and 705 MW in FY25 (88% YoY). The balance sheet strengthened post-merger with ~Rs 2,050 Cr reduction in liabilities, a net cash position of Rs 170 Cr, and an order book near 3.2 GW supporting clear revenue visibility.

2. Strategic Initiatives & Growth Drivers:

Commissioning a new nacelle plant near Ahmedabad is set to boost manufacturing capacity beyond 2.5 GW. Expansion into solar O&M through Inox Green now covers ~5.1 GW of renewable assets. Development of 4 MW wind turbine technology and hybrid renewable solutions are key focus areas. The company targets executing over 2 GW annually by FY27, backed by a strong 1.5 GW order inflow in FY25.

3. Business Developments:

The merger with Inox Wind Energy Ltd improved financial flexibility by trimming liabilities. Inox Wind secured orders from marquee customers such as Hero Future Energies and Amplus. Its EPC arm, Inox Renewable Solutions, continues scaling solar and hybrid projects nationwide. Inox Green aims to expand its O&M portfolio to 10 GW within 2 years through organic growth and acquisitions.

4. Market Position & Competitive Advantage:

As one of India’s top wind OEMs, Inox leverages integrated turnkey capabilities and backing from the US$11 bn INOXGFL Group. It serves a diversified client base—PSUs, IPPs, and C&I segments—with strong manufacturing and technology including 2MW, 3MW, and licensed 4MW turbines. Its O&M subsidiary is India’s only listed pure-play renewable O&M firm, providing steady cash flows in a rapidly expanding sector. The company’s net cash position adds financial strength.

5. Investor Implications:

Robust revenue and profitability growth, improved financial health, and a sizable 3.2 GW order book underpin positive growth potential. Diversification into solar O&M and hybrid technologies broadens earnings visibility. Execution timelines and capacity ramp-up remain key factors to track. Inox Wind’s strong market positioning supports attractive long-term value amid India’s accelerating renewable energy transition.