Indowind Energy Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2017 • Power: 91.5% • Others: 8.5%
AI Sector View
AI GENERATEDPower
Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.
PROS
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.58x)
- Company generates healthy free cash flow
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (65.5% of PBT)
- Company has a low return on equity of -1.6% over last 3 years
- Company has a low return on capital employed of 2.0%
- Promoter holding has decreased over last 2 years: -2.6pp
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPOWER | 209.85 | 28.39 | 404689.32 | 0.00 | 4866.60 | 47.24 | 18901.89 | 33.97 | 17.79 | 42.67 |
| NTPC | 333.30 | 11.64 | 323189.88 | 2.70 | 6896.44 | -88.71 | 50740.96 | 7.81 | 8.52 | 33.23 |
| POWERGRID | 269.10 | 15.74 | 250279.25 | 3.34 | 3598.42 | -0.89 | 11496.72 | 2.68 | 9.74 | 82.97 |
| ADANIGREEN | 1282.00 | 118.37 | 211167.98 | 0.00 | 9830.00 | 1092.96 | 44310.00 | 1066.05 | 9.90 | 91.24 |
| ADANIENSOL | 1373.75 | 57.55 | 168003.37 | 0.00 | 1236.56 | 129.44 | 9711.08 | 42.41 | 9.71 | 31.27 |
| TATAPOWER | 365.00 | 30.19 | 116629.89 | 0.68 | 1400.86 | 10.98 | 19051.26 | 5.63 | 11.63 | 21.53 |
| JSWENERGY | 525.45 | 48.97 | 96340.35 | 0.38 | 532.70 | -36.27 | 5207.13 | 1.24 | 8.50 | 55.22 |
| NHPC | 76.30 | 20.19 | 76643.62 | 2.11 | 1178.09 | 4.15 | 3808.31 | 18.50 | 6.16 | 61.80 |
| NTPCGREEN | 86.90 | 120.64 | 73224.80 | 0.00 | 3048.40 | 1282.62 | 11068.60 | 1527.23 | 3.73 | 91.95 |
| TORNTPOWER | 1298.20 | 28.15 | 65416.76 | 1.54 | 661.85 | -10.75 | 8124.15 | 2.75 | 14.37 | 18.93 |
| NLCINDIA | 264.25 | 11.42 | 36641.87 | 1.46 | 436.33 | -48.01 | 4716.75 | 23.29 | 11.27 | 32.83 |
| INDOWIND | 9.02 | 543.91 | 145.22 | 0.00 | 2.11 | -18.28 | 8.30 | -28.06 | 2.00 | 52.32 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 18 | 10 | 4 | 7 | 16 | 6 | 6 | 12 | 18 | 6 | 5 | 8 | |
| 2 | 8 | 9 | 5 | 4 | 7 | 5 | 7 | 6 | 7 | 7 | 7 | 7 | |
| Operating Profit | 6 | 10 | 1 | -1 | 3 | 9 | 1 | -1 | 5 | 10 | -1 | -2 | 2 |
| OPM % | 76.15% | 57.40% | 7.40% | -21.40% | 39.46% | 56.93% | 13.85% | -9.68% | 45.06% | 58.86% | -10.15% | -39.96% | 20.01% |
| -1 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | -2 | 0 | |
| Interest | 1 | 2 | 1 | 0 | 0 | 1 | 0 | 1 | 0 | 2 | 0 | 0 | 0 |
| Depreciation | 2 | 4 | 0 | 0 | 1 | 5 | 1 | 1 | 2 | 4 | 1 | 1 | 2 |
| Profit before Tax | 1 | 4 | 0 | 0 | 1 | 4 | -0 | -2 | 3 | 5 | 0 | -6 | 2 |
| Tax % | -22.22% | -23.13% | 200.00% | -2000.00% | -17.24% | -9.41% | -0.00% | -127.23% | -2.38% | -1.10% | -56.52% | -26.64% | -17.33% |
| Net Profit | 0 | 0 | 0 | 0 | 2 | 4 | -0 | -5 | 3 | 5 | 0 | -8 | 2 |
| 0.16 | 0.47 | -0.01 | 0.06 | 0.16 | 0.34 | 0.00 | -0.34 | 0.20 | 0.37 | 0.03 | -0.46 | 0.13 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 17 | 26 | 26 | 22 | 21 | 19 | 25 | 34 | 39 | 34 | 37 | |
| 9 | 11 | 15 | 16 | 12 | 9 | 18 | 20 | 23 | 23 | 28 | |
| Operating Profit | 7 | 15 | 11 | 6 | 8 | 10 | 7 | 14 | 16 | 11 | 9 |
| OPM % | 43.85% | 55.85% | 40.92% | 27.98% | 40.37% | 51.44% | 26.57% | 41.19% | 40.85% | 31.46% | 25.05% |
| 7 | 2 | -17 | 1 | 6 | 2 | 2 | -6 | 1 | 2 | -0 | |
| Interest | 7 | 7 | 8 | 7 | 5 | 2 | 2 | 2 | 4 | 2 | 3 |
| Depreciation | 8 | 14 | 9 | 9 | 9 | 9 | 7 | 7 | 7 | 7 | 8 |
| Profit before Tax | 0 | -3 | -24 | -10 | 0 | 0 | 0 | -1 | 6 | 4 | 1 |
| Tax % | -293.96% | 42.94% | 11.27% | -27.71% | 16.77% | 15.74% | 15.85% | -1556.30% | -30.73% | 63.89% | 174.24% |
| Net Profit | 1 | -2 | -21 | -12 | 0 | 0 | 0 | -19 | 7 | 1 | -0 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.19 | -1.79 | 0.66 | 0.10 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 10%
- 3 Years:
- 11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 19%
- 5 Years:
- 88%
- 3 Years:
- -9%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 9%
- 3 Years:
- -10%
- 1 Year:
- -46%
RETURN ON EQUITY
- 10 Years:
- -2%
- 5 Years:
- -1%
- 3 Years:
- -2%
- Last Year:
- 0%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 90 | 90 | 90 | 90 | 90 | 90 | 90 | 107 | 107 | 129 |
| Minority Interest | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 83 | 144 | 60 | 48 | 48 | 139 | 141 | 123 | 130 | 150 | |
| 67 | 104 | 162 | 163 | 153 | 61 | 56 | 60 | 24 | 7 | |
| Trade Payables | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 3 | 2 | 1 |
| 76 | 1 | -2 | 0 | 0 | 0 | 0 | 20 | 18 | 18 | |
| Total Liabilities | 317 | 339 | 311 | 302 | 294 | 292 | 288 | 313 | 282 | 305 |
| 240 | 268 | 253 | 257 | 255 | 246 | 166 | 159 | 236 | 248 | |
| Capital Work in Progress | 24 | 9 | 7 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| 8 | 10 | 10 | 10 | 10 | 10 | 1 | 0 | 0 | 0 | |
| 3 | 1 | 0 | 1 | 0 | 5 | 5 | 4 | 1 | 2 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 5 | |
| Cash & Bank | 5 | 9 | 7 | 7 | 4 | 6 | 2 | 22 | 0 | 2 |
| 37 | 42 | 34 | 26 | 24 | 24 | 114 | 127 | 35 | 47 | |
| Total Assets | 317 | 339 | 311 | 302 | 294 | 292 | 288 | 313 | 282 | 305 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 8 | 8 | 5 | 10 | 6 | 1 | 0 | -8 | -9 | |
| Cash from Investing | 6 | -7 | 10 | 2 | 1 | 1 | 3 | 5 | 44 | -22 |
| Cash from Financing | -9 | -1 | -18 | -7 | -9 | -5 | -6 | 15 | -57 | 33 |
| -0 | 1 | -1 | -0 | 1 | 2 | -2 | 20 | -21 | 1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Indowind Energy Limited has informed the Exchange regarding Resignation of Mr BATHEY RAMAMURTHYBASKARAN as Non- Executive Independent Director of the company w.e.f. September 09, 2026.
2026-09-09 - Indowind Energy Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-13 - Indowind Energy Limited has submitted to the Exchange, Outcome of Board Meeting held on 13th August 2026.
2026-07-10 - Indowind Energy Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-07-01 - The Exchange had sought clarification from Indowind Energy Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-06-26 - Indowind Energy Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-25 - The Exchange has sought clarification from Indowind Energy Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-05-26 - Indowind Energy Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-26 - Indowind Energy Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
News
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Indowind Energy Ltd.
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