Indowind Energy Ltd Q3 FY26 Share Price & Earnings Call Analysis

Financials of Indowind Energy Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Indowind Energy Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +4.517.6317.919.734.447.3515.815.566.6311.5417.556.195.27
Expenses +4.271.827.649.005.394.456.824.806.926.347.226.617.33
Operating Profit0.245.8110.270.73-0.952.908.990.76-0.295.2010.33-0.42-2.06
OPM %5.32%76.15%57.34%7.50%-21.40%39.46%56.86%13.67%-4.37%45.06%58.86%-6.79%-39.09%
Other Income +-6.62-1.010.050.301.740.020.110.340.000.010.191.67-2.44
Interest0.431.311.870.660.440.430.560.420.530.272.380.180.10
Depreciation0.032.064.430.300.321.044.510.741.092.423.610.841.33
Profit before tax-6.841.434.020.070.031.454.03-0.06-1.912.524.530.23-5.93
Tax %264.62%-22.38%-23.13%200.00%-2,000.00%-16.55%-9.43%0.00%127.23%-2.38%-1.10%-56.52%26.64%
Net Profit +-24.931.754.96-0.070.631.694.42-0.07-4.342.574.570.36-7.51
EPS in Rs-1.550.090.310.000.040.100.270.00-0.270.140.290.03-0.46

Financials of Indowind Energy Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +20.0516.8826.0226.1621.9720.6617.9624.5633.9638.8133.5140.75
Expenses +10.979.4811.4915.4515.8212.328.3918.0219.9722.9722.9625.82
Operating Profit9.087.4014.5310.716.158.349.576.5413.9915.8410.5514.93
OPM %45.29%43.84%55.84%40.94%27.99%40.37%53.29%26.63%41.20%40.81%31.48%36.64%
Other Income +5.147.132.37-17.190.576.332.062.42-5.961.092.30-2.44
Interest6.176.796.717.677.005.292.051.892.204.271.952.93
Depreciation7.547.5513.679.509.329.319.326.926.997.107.398.21
Profit before tax0.510.19-3.48-23.65-9.600.070.260.15-1.165.563.511.35
Tax %54.90%-284.21%-42.82%-11.25%27.71%14.29%15.38%13.33%1,560.34%-30.76%63.82%100.00%
Net Profit +0.230.77-1.99-20.98-12.260.060.220.13-19.267.271.270.01
EPS in Rs0.010.04-0.11-1.11-0.650.000.010.01-1.200.450.080.00
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Financials of Indowind Energy Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital89.7489.7489.7489.7489.7489.7489.7489.74107.33107.33128.80161.00
Reserves80.9283.22143.90122.87110.62110.68139.51140.59122.77129.83150.11146.41
Borrowings +76.6673.89100.0099.56101.1990.8060.7256.0660.0625.196.979.53
Other Liabilities +70.4170.455.531.560.782.541.541.6823.1220.0219.5230.78
Total Liabilities317.73317.30339.17313.73302.33293.76291.51288.07313.28282.37305.40347.72
Fixed Assets +155.57199.88228.60198.94189.20180.73245.57166.31159.45235.79248.47245.07
CWIP46.3564.0347.7860.9668.5773.880.960.960.960.960.9612.31
Investments6.128.4110.1510.4610.4610.4110.461.040.040.040.040.04
Other Assets +109.6944.9852.6443.3734.1028.7434.52119.76152.8345.5855.9390.30
Total Assets317.73317.30339.17313.73302.33293.76291.51288.07313.28282.37305.40347.72

Financials of Indowind Energy Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1.881.827.967.475.339.776.041.410.32-8.05-9.17
Cash from Investing Activity +6.3310.46-6.689.801.810.970.922.634.7843.96-22.50
Cash from Financing Activity +-8.58-8.58-0.63-18.23-7.35-9.29-4.85-6.4615.07-57.1932.90
Net Cash Flow-0.363.710.64-0.96-0.211.442.11-2.4220.17-21.281.24
Free Cash Flow1.171.823.2214.417.026.605.721.430.12-9.33-29.25
CFO/OP32%38%55%70%87%117%64%22%2%-47%-73%

Financials of Indowind Energy Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days99.40101.2089.2284.1396.0383.03103.85119.7888.1379.0059.0434.22
Inventory Days
Days Payable
Cash Conversion Cycle99.40101.2089.2284.1396.0383.03103.85119.7888.1379.0059.0434.22
Working Capital Days73.36-19.2440.40-32.2328.5816.78139.42-445.70-272.5724.83248.23168.93
ROCE %2.68%2.89%0.96%2.45%-0.85%-0.09%0.79%0.71%2.73%3.93%1.99%2.22%

What Indowind Energy Ltd's management said in earlier quarters

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