Shares of Inox Wind fell by more than 8% on Monday following a significant drop in earnings for the fourth quarter of FY26. The wind energy solutions provider reported a consolidated net profit of Rs 105.68 crore for the January-March quarter, marking a decline of nearly 45% from the previous year.
The decline in profitability was attributed to a substantial increase in operating expenses during the quarter. Inox Wind’s total income from operations in the fourth quarter was Rs 1,305.50 crore, slightly lower than the previous year’s figure of Rs 1,310.65 crore.
Despite the challenging quarterly performance, Inox Wind highlighted that its order book remained robust at 3.1 GW as of March 31, 2026, ensuring revenue visibility for over two years. The company cited execution-related challenges, geopolitical disruptions, logistical bottlenecks, and delayed customer payments as factors impacting its financial performance.
Nuvama Institutional Equities expressed disappointment with Inox Wind’s Q4 FY26 results, stating that revenue fell short of expectations at Rs 1,240 crore compared to the estimated Rs 2,150 crore. Operating profit margin decreased to 16% from 19.9% a year ago due to a 95% surge in engineering, procurement, and construction (EPC) costs, resulting in EBITDA falling nearly 45% below consensus estimates.
