INOX Wind Limited (IWL) reported its best-ever third-quarter performance for the period ending December 31, 2025. Consolidated revenue surged by 24% YoY to Rs 1,238 crore, while EBITDA increased by 39% YoY to Rs 313 crore, achieving a strong margin of 25.2%. The company executed 252 MW and maintained an order book of approximately ~3.2 GW, backed by substantial order inflows in FY26.
Q3 FY26 Financial Highlights
On February 13, 2026, Inox Wind Limited (IWL) announced its financial results for the quarter ending December 31, 2025, marking its best-ever third-quarter performance. The company demonstrated robust top-line growth and profitability:
- Consolidated Revenue: Grew by 24% YoY to Rs 1,238 crores.
- EBITDA: Increased by 39% YoY to Rs 313 crores, with an impressive margin of ~25.2%.
- Profit Before Tax (PBT): Rose by 62% YoY to Rs 209 crores.
- Cash PAT: Increased by 38% YoY to Rs 262 crores.
Operational Performance and Order Book
Operational execution remained strong during the quarter, with IWL achieving 252 MW of execution in Q3 FY26. This robust activity supports a healthy overall position.
- The net order book stands at approximately ~3.2 GW, offering revenue visibility of 18–24 months.
- Total order inflow for FY26 to date is approximately ~600 MW, secured from diverse customers including Aditya Birla, Amplus/Gentari, Jakson, and First Energy.
- The company sees strong intake visibility across PSU, IPP, & C&I segments, further supplemented by group company Inox Clean.
Strategic Updates and Outlook
Management expressed confidence in future growth, supported by strategic organizational developments and favorable market conditions.
- The scheme of demerger of the substation business from Inox Green and its merger into Inox Renewable Solutions (IRSL) is now in the final stages of hearing at the NCLT Ahmedabad.
- INOXGFL Group Executive Director, Mr. Devansh Jain, noted that the large-scale O&M portfolio expansion of Inox Green, along with growth in the RE power generation and solar manufacturing businesses under Inox Clean, positions both entities well for future opportunities.
- IWL has upgraded its guidance for FY26: consolidated revenue is now guided to be > Rs 5,000 crores (representing >35% YoY growth), with the EBITDA margin range revised upward to 20–22% (from 18–19% previously).
- For FY27, the company expects consolidated revenue growth of approximately ~75% over FY26, maintaining an EBITDA margin target of 20-22%.
Company Profile Snapshot
Inox Wind Limited (IWL) is described as a fully integrated player in the wind energy market, utilizing its state-of-the-art 3 MW series WTG offering. Manufacturing capacity totals approximately ~ 2.5 GW per annum across five plants.
Its subsidiary, Inox Green Energy Services Ltd., manages an O&M portfolio of approximately ~13.3 GWp. CEO Mr. Sanjeev Agarwal highlighted that robust growth was achieved despite on-ground challenges, supported by successful backward integration into cranes and transformer manufacturing.
Source: BSE
