Inox Wind Hits New High In Q3 Fy26 Revenues, PAT Up 14%

Inox Wind Limited (IWL), announced its financial results for the quarter ended December 31, 2025 on Feb 13.

Q3 Fy26 was IWL's  best-ever performance, posting revenues of Rs 1,238 crores, up 24% YoY, and EBITDA of Rs 313 crores, up 39% YoY. EBITDA margins came in at 25.2%. Profit before tax for the quarter was up 62% YoY to Rs 209 cr, while PAT was up 14% YoY at Rs 127 cr, despite a deferred tax charge of Rs 83 cr during the quarter (a non-cash accounting adjustment). Cash PAT increased by 38% YoY to Rs 262 crores.

Order execution during the quarter increased to 252 MW. The net order book stands at ~3.2 GW, providing revenue visibility of 18–24 months. The company has strong order intake visibility from multiple new and existing customers across PSU, IPP & C&I segments, as well as from group company Inox Clean, supported by its large-scale growth plans. IWL has won ~600 MW of orders in FY26 till date.

IWL’s O&M subsidiary, Inox Green’s O&M portfolio, stands at ~13.3 GWp, comprising ~10 GW of wind and ~3.3 GWp of solar assets. With its strong growth prospects, Inox Green hopes to be India’s largest renewable O&M company. Further, the scheme of demerger of Inox Green’s substation business and its merger into Inox Renewable Solutions (IRSL) is in the final stages of hearing at NCLT Ahmedabad; post receipt of approval from NCLT and merger of the assets, IRSL will be automatically listed on the stock exchanges.

For FY26, consolidated revenue guidance of > Rs 5,000 crores translates to >35% YoY growth, while EBITDA margin guidance has been substantially upgraded to 20–22% vs 18–19% earlier. For FY27, the company expects consolidated revenue to grow by ~75% over FY26, with an EBITDA margin of 20–22%.

Key financial and operational highlights for the quarter & nine months ended December 31, 2025

^ Q3 FY25 & 9M FY25 figures and calculations exclude one-time write back (Rs 62.37 cr) of ECL provisions