Inox Wind Q2 Revenue Up 56% YoY; H1 Lifted by Robust Order Flow

India’s leading wind energy solutions provider, Inox Wind Limited (IWL), reported a strong performance for the quarter ended September 30, 2025, continuing its growth trajectory with revenue of Rs 1,162 crore, up 56% YoY.

The company’s EBITDA rose 48% YoY to Rs 271 crore, while profit before tax increased 93% YoY to Rs 169 crore. PAT also grew 43% YoY to Rs 121 crore, despite a deferred tax charge of Rs 49 crore during the quarter, which the company noted was a non-cash accounting adjustment. Cash PAT surged 66% YoY to Rs 220 crore, reflecting improved operational performance.

IWL executed 202 MW of orders during the quarter, while its order book—at more than 3.2 GW—provides revenue visibility for the next 18–24 months. The firm also secured around 400 MW of new orders from multiple new and existing customers.

A deeper look at the results shows that revenue grew 35.45% quarter-on-quarter (QoQ), rising to Rs 1,11,918 lakh in Q2 FY26 from Rs 82,625 lakh in the previous quarter.

On a year-over-year basis, revenue increased 58.6%, climbing to Rs 1,16,247 lakh in September 2025, compared with Rs 73,301 lakh in September 2024.

Profit After Tax (PAT) also saw strong momentum, rising 42.8% YoY. On a quarterly basis, PAT increased 24%, contributing to an H1 PAT growth of 57.2%.

Latest Project Developments

IWL is ramping up operations at its new manufacturing plant in Kalyangarh, Ahmedabad, Gujarat, which produces nacelles and hubs for its 3.3 MW wind turbine generators, and future 4.X MW platforms.

The company is also expanding its transformer facility in Rajasthan, which manufactures 3–5 MVA transformers and is currently operating at high utilization. At the same time, IWL is building a new blade and tower manufacturing facility in Karnataka—its first plant in South India—expected to be operational in 2026.

Inox Green Expands

IWL’s O&M subsidiary, Inox Green, has acquired multi-gigawatt wind O&M assets, taking its total portfolio to nearly 12.5 GW.
Additionally, the scheme for demerging Inox Green’s substation business and merging it into Inox Renewable Solutions has received approvals from shareholders and creditors.

Leadership Commentary

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.”

Kailash Tarachandani, Group CEO – Renewables Business, INOXGFL Group, added:
“We are in discussions with multiple customers to enter into framework agreements that will provide long-term recurring annual orders for IWL. Our manufacturing expansion into South India will give us faster access to large sites across Karnataka, Andhra Pradesh and Tamil Nadu.”