Archive · 17 Nov 2025
Inox Wind Maintains Margin Guidance Amidst Structural Reforms and Steady Order Book
Inox Wind, a company that builds wind turbines, is telling everyone they still expect to build a lot of turbines this year and make a good profit, even though they made more profit than expected in the last three months.
They have lots of orders to keep them busy for a long time.
They are also planning a big change where they will combine some parts of their business with another company called Inox Green.
This is expected to make both companies more valuable.
The company is waiting for permission from a special court to make this change happen, which they think will take about four to five more months.
Even though the stock price has gone down a bit recently, they believe these changes will be good for the future.
Inox Wind maintains its yearly execution target of 1,200 MW and margin outlook of 18-19%, despite exceeding 20% margin in Q2.
The company has a strong 3.2 GW order book, providing 18-24 months of execution visibility, with a strategic shift towards multi-year framework agreements.
A demerger is planned to consolidate Inox Green Energy Services' substation and TPC arm with Inox Wind's EPC arm, creating a new entity, Inox Renewable Solutions Limited (IRSL).
IRSL will be the group's platform for EPC operations, transformer manufacturing, crane ownership, and land for hybrid projects.
NCLT clearance is awaited for the demerger, expected within four to five months, which is considered value-accretive for both Inox Green and Inox Wind.
- Who
- Inox Wind Limited and InoxGFL Group
- What
- Maintained margin guidance and execution targets, discussed demerger timeline, and reported Q2 results.
- When
- Q2 FY26 and ongoing structural reforms with expected NCLT clearance in 4-5 months.
- Where
- India
- Why
- To provide clarity on business execution, margin outlook, and the strategic value-accretive demerger plan.
Cautious Outlook
Positive Outlook
Stock Performance
Cautious Outlook
Stock has declined 20% over the last year.
Positive Outlook
Steady order book and demerger plan are expected to unlock value.
Margin Guidance
Cautious Outlook
Company is sticking to a projected margin of 18-19% despite recent higher margins.
Positive Outlook
Expects to end the financial year with higher margins than guided, with H2 being a significant contributor.
- Yearly Execution Guidance
- 1,200 MW
- Margin Outlook
- 18-19%
- Q2 FY26 Revenue
- ₹1,119 crore
- Q2 FY26 Margin
- 20.3%
- Q2 FY26 Profit After Tax
- ₹120.6 crore
- Order Book
- 3.2 GW
- Current Market Capitalisation
- ₹25,448 crore
- Stock Price (NSE)
- ₹147.22
