Loading…
Indian wind turbine manufacturer providing turbines plus EPC and operations/maintenance services for wind farms.
Indian wind turbine manufacturer providing turbines plus EPC and operations/maintenance services for wind farms.
Earns a price when each turbine order is delivered, often bundled with site development and construction, then recurring fees for operating and maintaining the turbines. Customers are project developers and companies buying wind power for their own use, and orders arrive in large batches rather than evenly.
Moat: narrow (scale, installed base, customer qualification). Established domestic wind-turbine manufacturing and installed base, but Suzlon and global majors compete for the same projects.
Headquarters: Noida, India · Founded: 2009 · Employees: 2,135
Size Inox Wind (INOXWIND.NS) is an India Industrials company (Electrical Products) with a market value of $1.49B, the 471st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹64.80 on 6 Nov 2026.
Performance Over six months the shares fell 39.2%, against -38.9% for the median peer and 0.0% for the India market (cap-weighted) — 8th lowest of 18 in its peer set.
Growth Revenue grew 17.1% over the last twelve months (peer median +19.6%); the operating margin is 14.8% (peer median 7.5%).
Valuation It trades at 15.4× forward earnings against a peer median of 21.3× (8th cheapest of 16).
Capital Return on invested capital runs 13.7 points below its cost of capital (20.0% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹43.8B | ₹44.0B | ₹35.6B | ₹17.5B | ₹7.33B |
| Revenue growth | — | +24% | +104% | +138% | — |
| Gross profit | ₹12.1B | ₹11.3B | ₹9.29B | ₹2.93B | -₹794M |
| EBITDA | ₹8.61B | ₹9.27B | ₹8.00B | ₹2.71B | -₹1.49B |
| Net income | ₹3.44B | ₹4.05B | ₹4.48B | -₹357M | -₹7.09B |
| Free cash flow | n/a | -₹14.1B | -₹7.47B | -₹11.6B | -₹17.5B |
| Capital expenditure | n/a | ₹6.49B | ₹6.20B | ₹5.39B | ₹3.88B |
| Total debt | n/a | ₹15.9B | ₹14.7B | ₹20.8B | ₹24.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Inox Wind INOXWIND.NS | $1.49B | -39% | +17% | 15% | 15.4× | n/a |
| Suzlon Energy SUZLON.NS | $5.65B | -30% | +34% | 15% | 21.2× | 34.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | INOXWIND.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.4% | -15.0% | 6th highest of 21 |
| 6-month return | -39.2% | -38.9% | 8th lowest of 18 |
| Distance from 52-week high | -59.1% | -59.3% | 11th highest of 21 |
| Revenue growth (TTM) | +17.1% | +19.6% | 11th highest of 21 |
| Operating margin | 14.8% | 7.5% | 2nd highest of 21 |
| Forward P/E | 15.4× | 21.3× | 8th cheapest of 16 |
| ROIC minus cost of capital | -13.7 pp | -2.7 pp | lowest of 20 |
| EV / EBITDA | 16.3× | 11.0× | 3rd most expensive of 7 |
| Net debt / EBITDA | 1.1× | 0.0× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Inox Wind INOXWIND.NS | India | $1.49B | -39% | +17% | 15% | 15.4× | n/a | n/a |
| Zhejiang Zhaolong Interconnect Technology Co. Limited 300913.SZ | China | $1.49B | -45% | +29% | 12% | 44.1× | n/a | n/a |
| Hainan Drinda New Energy Technology 002865.SZ | China | $1.49B | -45% | -4% | -13% | n/a | 19.3% | +54.9% |
| Aerospace Intelligent Manufacturing Technology 300446.SZ | China | $1.48B | -38% | -14% | 5% | 21.3× | 2.1% | +133.1% |
| Shanghai Electric Wind Power 688660.SS | China | $1.50B | -39% | +69% | -6% | n/a | n/a | n/a |
| Up-Shine Lighting 301362.SZ | China | $1.50B | -39% | +15% | 7% | 29.5× | n/a | n/a |
| Guodian Nanjing Automation 600268.SS | China | $1.48B | -35% | -5% | 9% | 15.2× | -0.1% | +13.9% |
| Shenzhen Hopewind Electric 603063.SS | China | $1.52B | -50% | -5% | 9% | 24.6× | 14.6% | +12.3% |
| Iljin Electric 103590.KS | South Korea | $1.52B | -65% | +24% | 9% | 11.2× | n/a | n/a |
| Cswind 112610.KS | South Korea | $1.52B | -31% | -8% | 7% | 11.6× | -0.5% | +23.8% |
| Beijing Victory Electric 001393.SZ | China | $1.53B | n/a | +31% | 11% | n/a | n/a | n/a |
| Shandong Hi-tech Spring Material Technology 301292.SZ | China | $1.54B | -46% | +46% | 11% | 31.8× | n/a | n/a |
| Shenzhen SDG Information 000070.SZ | China | $1.55B | -33% | +27% | -1% | n/a | 28.4% | -1.3% |
| Daihen 6622.T | Japan | $1.43B | +5% | +5% | 8% | 11.4× | n/a | n/a |
| Long Young Electronic (Kunshan) 301389.SZ | China | $1.55B | -41% | +103% | 17% | 55.4× | 46.5% | +3.3% |
| East 300376.SZ | China | $1.43B | -30% | +9% | 3% | 9.3× | n/a | n/a |
| Zhejiang Wanma 002276.SZ | China | $1.42B | -25% | +13% | 1% | 10.8× | 5.1% | +15.6% |
| Sinfonia Technology 6507.T | Japan | $1.56B | -39% | +9% | 15% | 14.2× | 15.4% | +8.0% |
| Hangzhou Gold Electronic Equipment 301669.SZ | China | $1.56B | n/a | +37% | 9% | n/a | n/a | n/a |
| ERock EROC | United States | $1.56B | n/a | +43% | -19% | 35.8× | 12.5% | +42.5% |
| Pylon Technologies 688063.SS | China | $1.41B | -50% | +101% | 1% | 44.2× | n/a | n/a |