Inox Wind Limited (IWL), a leading wind energy solutions provider, has announced its financial results for the third quarter of FY25, achieving its best-ever Q3 performance. The company reported a 96% year-on-year (YoY) growth in consolidated revenue, reaching ₹994 crore, compared to ₹507 crore in Q3 FY24.
EBITDA surged 192% YoY to ₹290 crore from ₹99 crore in the same quarter last year. Net profit after tax jumped to ₹112 crore, a significant increase from ₹2 crore in Q3 FY24. The company’s cash PAT saw a remarkable rise, reaching ₹239 crore compared to ₹33 crore in the previous year’s corresponding quarter.
Strong Order Execution and Future Growth Outlook
Order execution for the quarter stood at 189 MW, marking an 82% YoY increase. For the first nine months of FY25, IWL executed 469 MW, reflecting a 90% growth over the previous year. The company’s total order book stands at approximately 3.3 GW, providing strong visibility for continued revenue growth. Inox Wind secured orders of ~1.4 GW in FY25 across various customers, including Public Sector Undertakings (PSUs) and large Independent Power Producers (IPPs).
IWL remains on track to achieve its long-term execution target of 2 GW by FY27. The company also expects additional order inflows, further strengthening its position in the wind energy sector.
Expansion and New Business Ventures
Inox Wind is expanding its manufacturing capabilities, with a new nacelle plant near Ahmedabad, Gujarat, set to commence operations in Q4 FY25. Additionally, its EPC arm, Inox Renewable Solutions, will launch transformer manufacturing and crane services in the same quarter.
The company is also venturing into solar manufacturing through Inox Solar, which is expected to open new opportunities in hybrid renewable energy projects. This expansion aligns with India’s growing demand for hybrid, round-the-clock (RTC), and firm and dispatchable renewable energy (FDRE) solutions.
Management’s Perspective
Commenting on the results, Devansh Jain, Executive Director of INOXGFL Group, stated, “Inox Wind’s strong Q3 results reinforce our growth trajectory. With new ventures in renewables, we are expanding our offerings and unlocking additional business opportunities.”
Kailash Tarachandani, CEO of Inox Wind, remarked, “India continues to award large renewable energy capacities, particularly in hybrid and RTC projects. We are well-positioned to capitalize on these opportunities in the coming years.”
About Inox Wind
IWL is a key player in India’s wind energy sector, serving IPPs, utilities, PSUs, and corporate investors. With four manufacturing plants across Gujarat, Himachal Pradesh, and Madhya Pradesh, the company has an annual production capacity of ~2.5 GW.
Its subsidiary, Inox Green Energy Services Ltd., is India’s only listed wind O&M services provider, managing ~3.5 GW of assets. Another subsidiary, Inox Renewable Solutions, provides EPC services and develops power evacuation infrastructure for renewable projects.
With a robust order pipeline, diversified business expansion, and strong industry tailwinds, Inox Wind is poised for sustained growth in India’s renewable energy sector.
