Inox Wind Ltd — earnings calls

Inox Wind reported Q1 FY27 consolidated revenue of Rs 872 crore, adjusted EBITDA of Rs 237 crore and PAT of Rs 64 crore, while Inox Green reported total income of Rs 101 crore with EBITDA of Rs 57 crore. Management said the shift in order mix towards equipment supply, now about 59% of the third-party order book, caused near-term revenue disruption but maintained its full-year guidance of 75% revenue growth and 20-22% EBITDA margin. The company also detailed an order backlog of 4.4 gigawatt, an MOU with Inox Clean for 1.5 gigawatt, an LOA from NLC India for 200 megawatt, and progress on the Wind World India acquisition and the RESCO demerger.

Inox Wind reported consolidated Q4 FY26 revenue of Rs 1,306 crore, roughly flat year-on-year, with EBITDA of Rs 333 crore and PAT of Rs 106 crore, while management cited geopolitical tensions and logistics issues that delayed some project execution. Inox Green reported total income of Rs 120 crore, up 40% year-on-year, with EBITDA of Rs 57 crore, up 93%, and management said the company is acquiring two wind O&M portfolios that will be consolidated into FY27 results. Management guided for consolidated revenue growth of around 75% for FY27 and reiterated an Inox Green EBITDA guidance of upwards of Rs 600 crore, while also discussing a pivot of Inox Wind's order book from turnkey to equipment supply and the NCLT-approved demerger of Inox Green's evacuation infrastructure business into Inox Renewable Solutions.