Inox Wind Ltd
Inox Wind Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
3 of 4 strong
Not discussed on this call: fundraise.
The short version
INOX Wind expects a 75% annual growth in revenue compared to the previous year, primarily driven by a strategic pivot from turnkey EPC projects to equipment supply business. The company maintains a strong guidance with a targeted 75% growth in revenue over the previous year.
From Inox Wind Ltd's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- INOX Wind expects a 75% annual growth in revenue compared to the previous year, primarily driven by a strategic pivot from turnkey EPC projects to equipment supply business.
- The growth is expected to be H2-heavy, with 70-75% of business captured in the second half of the fiscal year.
- Equipment supply orders, including about 1.5 GW from INOX Clean and 4.4 GW backlog mainly from equipment supply, support this confidence.
- Incremental revenues and margins from equipment supply are expected to start reflecting toward the end of Q2 and predominantly in Q3 and Q4.
- The shift to equipment supply allows more flexibility in client targeting and faster revenue recognition, mitigating EPC-related delays.
- Despite quarterly slippages, management remains confident of meeting full-year revenue guidance owing to marquee customers and repeat orders.
- Annual revenue growth was about 23% from FY25 to FY26, showing healthy momentum.
Profitability & Margins
See what Inox Wind Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Expansion of manufacturing capabilities under IRSL, including transformers up to 100 MVA and beyond, serving both captive solar/wind needs and broader markets.
- Growing crane business with current and upcoming new cranes delivering good returns.
- Development of high-value, technology-driven, high-margin power electronic products such as inverters, unit substations, and capacitor systems planned within the year.
- Strategic pivot from EPC to equipment supply to improve financial performance and working capital.
- Indigenization drive aiming to achieve almost 100% local content in wind turbines (3X and 4X models) by end of calendar year, leveraging the Advantage Local Manufacturing and Make in India (ALMM) policies.
Top-ranked in Electrical Equipment
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Inox Wind Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- As of July 2026, INOX Wind's total order book stands at approximately 4.4 gigawatts.
- The order book comprises about 59% equipment supply and 41% turnkey orders (excluding group entity orders).
- INOX Wind signed an MOU with INOX Clean Energy for 1.5 gigawatts in June 2026; firm orders for 500 MW received so far, with the remaining 1 GW to be finalized in due course.
- Received a 200 MW LOA from NLC India in July 2026 (repeat order via tender).
- The company has a robust pipeline with marquee repeat customers and expects equipment supply orders to grow, covering the next 3 years.
- IRSL order book includes about 40% third-party turnkey orders.
- Overall, the healthy backlog supports confident revenue and margin growth, especially from H2 FY27 onwards.
Inox Wind Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹127 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Inox Wind Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Inox Wind Ltd Q1 FY27 results?
INOX Wind expects a 75% annual growth in revenue compared to the previous year, primarily driven by a strategic pivot from turnkey EPC projects to equipment supply business. The company maintains a strong guidance with a targeted 75% growth in revenue over the previous year.
What is Inox Wind Ltd share price analysis?
Inox Wind Ltd currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 36.9 with a market cap of ₹12,720 Cr. Investors should review the full earnings analysis for detailed insights.
Is Inox Wind Ltd planning capital expenditure?
Expansion of manufacturing capabilities under IRSL, including transformers up to 100 MVA and beyond, serving both captive solar/wind needs and broader markets.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.