• Inox Wind posts its strongest ever Q2 financial and operational performance
  • Consolidated revenue up 56% YoY; EBITDA up 48% YoY at Rs 271 cr; PBT up 93% YoY; PAT up 43% YoY; Cash PAT up 66% YoY to Rs 220 cr
  • Executed 202 MW in Q2; large 3.2 GW+ net order book provides 18–24 months visibility
  • Strategically pivoting to enter into recurring long-term orders via partnerships / frameworks — targeting 1 GW+ annually
  • Scheme of demerger of substation business from Inox Green and subsequent merger into Inox Renewable Solutions receives approval from shareholders and creditors
  • Inox Green expands O&M portfolio to ~12.5 GW including investments to acquire multi-gigawatt wind portfolios; on track to become India’s largest renewable O&M company

Mumbai: Inox Wind Limited (IWL), India’s leading wind energy solutions provider, announced today its financial results for the quarter ended September 30, 2025.

Continuing on its robust growth journey, IWL delivered its best ever second quarter financial and operational performance. IWL posted revenues of Rs 1,162 crores, up 56% YoY, its EBITDA increased 48% YoY to Rs 271 crores, profit before tax was up 93% YoY to Rs 169 cr while PAT was up 43% YoY at Rs 121 cr, despite a deferred tax charge of Rs 49 cr during the quarter (a non-cash accounting adjustment). Cash PAT surged 66% YoY to Rs 220 crores.

IWL’s order execution during the quarter increased to 202 MW, with order book at > 3.2 GW providing revenue visibility of 18-24 months. IWL had won ~ 400 MW of orders from multiple new as well as existing customers.

IWL’s new manufacturing plant at Kalyangarh, Ahmedabad, Gujarat is ramping up its operations. The unit manufactures nacelles & hubs for IWL’s state-of-the-art 3.3 MW WTGs and is future-ready for the upcoming 4X MW turbines as well. Transformer facility in Rajasthan which manufactures 3-5 MVA transformers is operating at high utilization. Inox Wind is also setting up a new blade & tower manufacturing unit at Karnataka, its first unit in South India, to be operationalized in 2026.

IWL’s O&M subsidiary Inox Green has invested to acquire multi-gigawatt wind O&M assets taking its O&M portfolio to ~12.5 GW. With its strong growth prospects, company is on course to become India’s largest renewable O&M company. Further, the scheme of demerger of Inox Green’s substation business and its subsequent merger into Inox Renewable Solutions received approvals from the company’s shareholders and creditors.

Key financial and operational highlights for the quarter & half-year ended September 30, 2025:

Particulars (Rs cr)Q2 FY26Q2 FY25^YoY %H1 FY26H1 FY25^YoY %
Revenue1,16274456%2,0251,39845%
EBITDA27118348%49134244%
Profit before tax1698893%307139120%
Profit after tax1218443%21813561%
Cash PAT*22013366%40622779%
       
Execution (MW)20214044%34828024%
Order book (MW)3,2353,328-3%3,2353,328-3%

Mr. Devansh Jain, Executive Director, INOXGFL Group, said, “I am pleased to announce that Inox Wind has delivered yet another quarter of stellar results. At INOXGFL Group, we are building one of India’s most integrated renewable energy platforms, spanning wind and solar manufacturing, project development, EPC, O&M, and power generation. Our strategic initiatives are driving synergies across Group companies, and strongly positioning Inox Wind as well as Inox Green to achieve rapid and sustained growth going ahead.”

Mr. Kailash Tarachandani, Group CEO, Renewables Business, INOXGFL Group, added, “With another robust quarterly performance delivered, a large orderbook, and multiple strategic initiatives starting to bear fruit, Inox Wind is embarking on its next leg of growth. We are building new customer relationships and fortifying the existing ones. We are also discussing with multiple customers to enter into framework agreements which will provide long-term recurring annual orders for IWL. Further, we are expanding our manufacturing footprint to South India, where we will set up a new blade and tower manufacturing facility, giving us quicker access to large sites across Karnataka, Andhra Pradesh and Tamil Nadu.”

Mr. Sanjeev Agarwal, CEO, Inox Wind, said, “We have delivered a strong quarter with 202 MW executed and a robust order book of > 3.2 GW. Our manufacturing facilities, including the recently commissioned nacelle & hub unit at Kalyangarh, Gujarat, are operating at high utilization levels and EPC activities on multiple sites are on full swing post the monsoons and we are confident of achieving our annual targets with second half generally being 70% of the full year execution. Our total order inflow in FY26 is ~ 400 MW till date and we are in advanced stages of closure for securing multiple other orders, which will ensure that our year-end net orderbook meets our execution guidance for the subsequent 18-24 months.”