MUMBAI — Shares of Inox Wind fell more than 8% Monday after the wind energy solutions provider reported a sharp drop in fourth-quarter profit.
The company posted consolidated net profit of 1.06 billion rupees for the January-March quarter, down nearly 45% from 1.90 billion rupees in the same period a year earlier.
The decline came as operating expenses rose significantly during the quarter. Total income from operations stood at 13.06 billion rupees, slightly below 13.11 billion rupees a year earlier.
Total expenses increased to 11.62 billion rupees from 11.03 billion rupees in the year-earlier period, weighing on earnings.
Despite the weaker quarterly performance, Inox Wind said its order book remained strong at 3.1 gigawatts as of March 31, 2026, providing revenue visibility for more than two years.
The company said its financial performance was affected by execution-related challenges, geopolitical disruptions that hit equipment and component supplies, logistical bottlenecks and delayed customer payments. It said those factors kept working capital requirements elevated during the quarter.
Nuvama Institutional Equities said Inox Wind’s fourth-quarter performance was significantly below expectations.
According to the brokerage, revenue came in at 12.4 billion rupees, compared with its estimate of 21.5 billion rupees. Operating profit margin fell to 16% from 19.9% a year earlier as engineering, procurement and construction costs surged 95% year over year. EBITDA came in nearly 45% below consensus estimates.
Citing execution challenges, Nuvama cut its execution forecasts for fiscal 2027 and fiscal 2028 to 1.4 gigawatts and 1.75 gigawatts, respectively, from earlier estimates of 1.6 gigawatts and 2 gigawatts.
The brokerage also lowered its earnings estimates for the two fiscal years by 33% and 34%, respectively. (Source: IANS)
