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Last Updated: April 2, 2026, 3:07 am
Author: Getaka|Social: XLinkedIn

Inox Wind Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹102.08Undervalued by 26.81%vs CMP ₹80.50

P/E (27.7) × ROE (11.7%) × BV (₹38.60) × DY (2.00%)

₹80.52Fairly Valued by 0.02%vs CMP ₹80.50
MoS: 0% (Negative)Confidence: 56/100 (Moderate)Models: 1 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹159.2830%Under (+97.9%)
Graham NumberEarnings₹52.4718%Over (-34.8%)
DCFCash Flow₹69.3214%Over (-13.9%)
Net Asset ValueAssets₹38.6010%Over (-52%)
EV/EBITDAEnterprise₹47.7212%Over (-40.7%)
Earnings YieldEarnings₹31.7010%Over (-60.6%)
Revenue MultipleRevenue₹20.577%Over (-74.4%)
Consensus (7 models)₹80.52100%Fairly Valued
Key Drivers: EPS CAGR 56.0% lifts DCF — verify sustainability. | Wide model spread (₹21–₹159) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 56.0%

*Investments are subject to market risks

Investment Snapshot

55
Inox Wind Ltd scores 55/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health34/100 · Weak
ROCE 11.5% AverageROE 11.7% AverageD/E 1.09 High debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money45/100 · Moderate
FII holding down -1.52% (6mo) SellingDII holding up 0.93% MF buyingPromoter holding at 44.2% Stable
Earnings Quality55/100 · Moderate
OPM expanding (-37% → 18%) ImprovingWorking capital: 161 days Capital intensive
Quarterly Momentum90/100 · Strong
Revenue (4Q): +57% YoY AcceleratingProfit (4Q): +99% YoY Strong
Industry Rank60/100 · Moderate
P/E 27.7 vs industry 37.1 In-lineROCE 11.5% vs industry 15.8% Average3Y sales CAGR: 79% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Inox Wind Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
30/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 27.7 vs Ind 37.1 | ROCE 11.5% | ROE 11.7% | CFO/NP N/A
Balance Sheet Stress
50/100
Manageable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 1.09x | IntCov 0.0x | Current 0.83x | Borrow/Reserve 0.23x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹438 Cr | CFO/NP N/A
Ownership Accumulation
+50
Accumulation
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.79 pp | DII +0.50 pp | Prom 0.00 pp
Business Momentum
+26
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +7.9% | Q NP +5.0% | Q OPM +3.0 pp
Derived FieldValueHow it is derived
Valuation Gap %+0.0%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.23xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.79 ppLatest FII% minus previous FII%
DII Change+0.50 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change+4,550Latest shareholder count minus previous count
Quarterly Sales Change+7.9%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+5.0%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+3.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:07 am

Market Cap 13,918 Cr.
Current Price 80.5
Intrinsic Value₹80.52
High / Low 198/74.9
Stock P/E27.7
Book Value 38.6
Dividend Yield0.00 %
ROCE11.5 %
ROE11.7 %
Face Value 10.0
PEG Ratio0.49

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Inox Wind Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Inox Wind Ltd 13,918 Cr. 80.5 198/74.927.7 38.60.00 %11.5 %11.7 % 10.0
TD Power Systems Ltd (TDPS) 13,475 Cr. 863 933/31161.4 61.50.14 %30.4 %22.3 % 2.00
Triveni Turbine Ltd 14,434 Cr. 454 675/42840.9 40.90.88 %41.4 %30.6 % 1.00
LMW Ltd 13,275 Cr. 12,426 18,250/11,729109 2,6490.24 %4.48 %3.04 % 10.0
Techno Electric & Engineering Company Ltd 11,995 Cr. 1,031 1,655/78525.6 3350.87 %16.5 %12.8 % 2.00
Industry Average9,009.11 Cr1,209.8537.05295.050.38%15.76%13.09%8.88

All Competitor Stocks of Inox Wind Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2261913493715035286407339111,2758261,1191,207
Expenses 4022183173224114295055677071,021643891926
Operating Profit -175-2731489399135166204254184228282
OPM % -78%-14%9%13%18%19%21%23%22%20%22%20%23%
Other Income 3-041612118116836364331
Interest 94657064635756443435345150
Depreciation 26262926283042454748495153
Profit before tax -293-119-63-263315588190208138169209
Tax % -2%0%2%4%45%-4%24%4%42%8%29%29%40%
Net Profit -288-119-65-27233428411019097121127
EPS in Rs -2.43-0.85-0.46-0.170.010.340.070.190.841.350.610.530.68

Last Updated: March 4, 2026, 9:00 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 1:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,5672,7094,4453,4054651,4367607116257331,7463,5574,428
Expenses 1,3912,2843,7112,8635481,2878779029259261,4842,8003,480
Operating Profit 176425734542-83149-116-191-300-193262757947
OPM % 11%16%17%16%-18%10%-15%-27%-48%-26%15%21%21%
Other Income 94748842623117619-6546134146
Interest 466298155171169244255283327240169170
Depreciation 12203544526680888998113182200
Profit before tax 128389649427-280-62-430-459-653-684-45539724
Tax % -4%24%29%29%-33%-36%-35%-33%-26%4%7%19%
Net Profit 132296461303-188-40-279-307-483-712-48438535
EPS in Rs 1.553.144.883.21-1.99-0.42-2.96-3.24-5.08-5.11-0.263.233.17
Dividend Payout % -0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)124.24%55.74%-34.27%-162.05%78.72%-597.50%-10.04%-57.33%-47.41%93.26%1012.50%
Change in YoY Net Profit Growth (%)0.00%-68.50%-90.02%-127.77%240.77%-676.22%587.46%-47.29%9.92%140.67%919.24%

Inox Wind Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:3%
5 Years:36%
3 Years:79%
TTM:83%
Compounded Profit Growth
10 Years:5%
5 Years:29%
3 Years:44%
TTM:993%
Stock Price CAGR
10 Years:5%
5 Years:65%
3 Years:67%
1 Year:-34%
Return on Equity
10 Years:-4%
5 Years:-11%
3 Years:-3%
Last Year:14%

Last Updated: September 5, 2025, 7:40 am

Balance Sheet

Last Updated: February 1, 2026, 12:51 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2002222222222222222222222223263911,6241,728
Reserves 2281,1701,6651,9681,7821,7431,4641,0946881,3872,4173,4234,945
Borrowings 5578741,4571,6741,0621,3051,1211,5662,6372,4162,0781,5001,140
Other Liabilities 4959301,4341,2911,0321,4712,4852,5822,4171,9121,8672,2462,192
Total Liabilities 1,4803,1964,7785,1554,0984,7415,2925,4645,9656,0416,7548,79210,005
Fixed Assets 1742035277659859731,2281,1911,3431,6191,8432,2912,388
CWIP 254943112206633230148123304296402
Investments 45-0632530919433331-0446489
Other Assets 1,2352,9444,1464,0243,0943,6113,9364,0104,4404,2984,6075,7606,726
Total Assets 1,4803,1964,7785,1554,0984,7415,2925,4645,9656,0416,7548,79210,005

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -76-106-163114269147733-112-475-1,100-366138
Cash from Investing Activity + -44-148-968-5332-264-346-49-74231487-406
Cash from Financing Activity + 12095850119-76076-385282486824-130277
Net Cash Flow 0704-630128-159-402122-62-45-99
Free Cash Flow -120-210-567-1768410462-231-654-1,488-881-483
CFO/OP -24%-6%-4%44%-373%101%-650%68%155%572%-117%19%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-381.00-449.00733.00541.00-84.00148.00-117.00-192.00-302.00-195.00260.00756.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1651931982551,051414635538627412238276
Inventory Days 10593741332,8654111,363733940843441238
Days Payable 1641551581871,6533871,446829663460214188
Cash Conversion Cycle 1071301152022,263438552442905795464326
Working Capital Days 35544868614138-217-430-259-1275161
ROCE %21%28%26%16%-3%3%-6%-8%-11%-7%4%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 72.01%72.01%64.64%52.87%52.87%48.27%48.27%48.27%48.27%44.18%44.18%44.18%
FIIs 1.89%2.57%3.48%9.49%9.47%13.37%15.82%15.26%15.68%13.78%13.37%14.16%
DIIs 0.00%0.09%6.54%9.88%10.16%9.75%9.09%9.80%9.44%9.12%9.87%10.37%
Public 26.10%25.33%25.34%27.76%27.49%28.62%26.83%26.68%26.61%32.93%32.59%31.30%
No. of Shareholders 53,21253,90670,51287,9021,17,4842,26,9753,27,5163,87,1053,80,2494,23,4644,52,2734,56,823

Shareholding Pattern Chart

No. of Shareholders

Inox Wind Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Equity & Debt Fund 23,102,430 0.51 249.3721,674,0522026-02-23 00:15:366.59%
ICICI Prudential ELSS Tax Saver Fund 14,452,635 1.1 15613,078,5932026-02-23 00:34:4710.51%
Bandhan Small Cap Fund 13,514,137 0.76 145.8712,994,0372026-01-26 08:21:044%
Nippon India Small Cap Fund 12,720,455 0.21 137.320,000,0002025-12-15 03:04:08-36.4%
ICICI Prudential Energy Opportunities Fund 11,824,740 1.29 127.64N/AN/AN/A
ICICI Prudential Balanced Advantage Fund 7,519,000 0.12 81.164,519,0002026-02-23 00:30:0266.39%
UTI Arbitrage Fund 4,125,550 0.41 44.53N/AN/AN/A
ICICI Prudential India Opportunities Fund 4,000,000 0.12 43.18N/AN/AN/A
ICICI Prudential ESG Exclusionary Strategy Fund 3,931,249 2.98 42.433,736,6312025-12-15 04:19:385.21%
Tata Arbitrage Fund 3,228,225 0.17 34.852,630,6882026-01-25 00:53:2222.71%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 2.75-1.56-20.58-19.37-13.84
Diluted EPS (Rs.) 2.75-1.56-20.58-19.37-13.84
Cash EPS (Rs.) 7.181.75-17.32-15.37-8.68
Book Value[Excl.RevalReserv]/Share (Rs.) 49.6752.0769.3842.8459.31
Book Value[Incl.RevalReserv]/Share (Rs.) 49.6752.0769.3842.8459.31
Revenue From Operations / Share (Rs.) 41.2353.4822.6128.1532.03
PBDIT / Share (Rs.) 10.459.96-7.43-10.31-4.02
PBIT / Share (Rs.) 8.346.59-10.69-14.31-7.98
PBT / Share (Rs.) 6.22-1.45-21.14-27.05-19.50
Net Profit / Share (Rs.) 5.07-1.62-20.58-19.37-12.65
NP After MI And SOA / Share (Rs.) 5.20-1.24-20.46-19.26-13.77
PBDIT Margin (%) 25.3418.62-32.88-36.63-12.54
PBIT Margin (%) 20.2212.32-47.28-50.83-24.92
PBT Margin (%) 15.09-2.70-93.51-96.09-60.87
Net Profit Margin (%) 12.30-3.03-91.00-68.80-39.49
NP After MI And SOA Margin (%) 12.60-2.31-90.48-68.42-42.99
Return on Networth / Equity (%) 10.45-2.38-38.40-46.95-23.21
Return on Capital Employeed (%) 12.538.73-10.74-12.30-9.73
Return On Assets (%) 5.09-0.59-10.96-7.16-5.59
Long Term Debt / Equity (X) 0.000.100.510.480.34
Total Debt / Equity (X) 0.341.911.391.891.09
Asset Turnover Ratio (%) 0.450.270.120.100.10
Current Ratio (X) 1.640.771.090.930.83
Quick Ratio (X) 1.200.480.680.630.58
Inventory Turnover Ratio (X) 2.741.470.470.520.36
Interest Coverage Ratio (X) 5.341.31-0.71-0.80-0.34
Interest Coverage Ratio (Post Tax) (X) 3.650.85-0.96-0.52-0.09
Enterprise Value (Cr.) 15857.8120673.775704.113991.052750.65
EV / Net Operating Revenue (X) 4.4611.867.746.393.87
EV / EBITDA (X) 17.5963.67-23.54-17.44-30.85
MarketCap / Net Operating Revenue (X) 3.959.754.133.932.19
Price / BV (X) 3.2810.011.752.701.18
Price / Net Operating Revenue (X) 3.959.754.133.932.19
EarningsYield 0.030.00-0.21-0.17-0.19

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Inox Wind Ltd. is a Public Limited Listed company incorporated on 09/04/2009 and has its registered office in the State of Himachal Pradesh, India. Company's Corporate Identification Number(CIN) is L31901HP2009PLC031083 and registration number is 031083. Currently Company is involved in the business activities of Manufacture of power generators (except battery charging alternators for internal combustion engines), motor generator sets (except turbine generator set units). Company's Total Operating Revenue is Rs. 3498.74 Cr. and Equity Capital is Rs. 862.72 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Engineering - HeavyPlot No.1, Khasra No.264 to 267, UNA Dist. Himachal Pradesh 174303Contact not found
Management
NamePosition Held
Mr. Devansh JainWhole Time Director
Mr. Manoj DixitWhole Time Director
Mr. Mukesh ManglikNon Executive Director
Mr. Sanjeev JainIndependent Director
Mr. Brij Mohan BansalIndependent Director

FAQ

What is the intrinsic value of Inox Wind Ltd and is it undervalued?

As of 07 April 2026, Inox Wind Ltd's intrinsic value is ₹80.52, which is 0.02% higher than the current market price of ₹80.50, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (11.7 %), book value (₹38.6), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Inox Wind Ltd?

Inox Wind Ltd is trading at ₹80.50 as of 07 April 2026, with a FY2026-2027 high of ₹198 and low of ₹74.9. The stock is currently near its 52-week low. Market cap stands at ₹13,918 Cr..

How does Inox Wind Ltd's P/E ratio compare to its industry?

Inox Wind Ltd has a P/E ratio of 27.7, which is below the industry average of 37.05. This is broadly in line with or below the industry average.

Is Inox Wind Ltd financially healthy?

Key indicators for Inox Wind Ltd: ROCE of 11.5 % is moderate. Dividend yield is 0.00 %.

Is Inox Wind Ltd profitable and how is the profit trend?

Inox Wind Ltd reported a net profit of ₹438 Cr in Mar 2025 on revenue of ₹3,557 Cr. Compared to ₹-483 Cr in Mar 2022, the net profit shows an improving trend.

Does Inox Wind Ltd pay dividends?

Inox Wind Ltd has a dividend yield of 0.00 % at the current price of ₹80.50. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Inox Wind Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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