Inox Wind shares slide 3% after Q4 results, but brokerages predict 21% upside
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Inox Wind Q4 results
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Inox Wind share price target
After the Q4 results, here's what the brokerage firms said:
Nuvama: Buy | Target Price: Rs 236
ICICI Securities: Buy | Target Price: Rs 230
JM Financial: Buy | Target Price: Rs 216
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Shares of Inox Wind on Monday slid 3.2% to their day's low of Rs 188.75 on the BSE despite a sharp 391% rise in its consolidated Q4FY25 PAT, its highest ever, reported at Rs 190.34 crore.Following this, various brokerage firms have shared their views on the company's performance, giving target prices as high as Rs 236, which is an upside potential of 21% from the stock's closing price on Friday.For the quarter ended March 30, 2025, the company's net profit rose 391% to Rs 190.34 crore, up from Rs 38.74 crore in the same quarter of the previous year, while the revenue from operations increased by 130% YoY to Rs 1,311 crore.Further, the company's order book also witnessed a robust growth of 21% YoY to Rs 3,203 crore versus Rs 2,656 crore in the corresponding quarter of the previous financial year.The order book stood at 3.2 GW, as the FY25 order inflows stood at 1.5 GW.Inox Wind also informed that its subsidiary Inox Green's renewables O&M portfolio surged to 5.1 GW, with a foray into the solar O&M segment.The merger between Inox Wind Energy and IWL was also approved, while the liabilities on IWL's balance sheet were reduced by Rs 2,050 crore.'Inox Wind continues to deliver strong results, reporting its highest ever quarterly profit, a testament to the efforts of the company over the past quarters. I am also delighted to announce that the Hon'ble NCLT has approved the scheme of arrangement between Inox Wind Energy and Inox Wind, which further fortifies Inox Wind's balance sheet. With the strong and favourable macroeconomic environment for the Indian renewable energy sector, our Group is well positioned to capitalise on the opportunities as one of the leaders in energy transition with our presence across wind, solar, EVs, BESS and renewable power generation,' said Devansh Jain, Executive Director of INOXGFL Group.Nuvama Institutional Equities has given a 'Buy' rating on Inox Wind with a raised target price of Rs 236, up from Rs 223.The brokerage noted that Q4FY25 execution was modest at 236MW versus an estimate of 281MW, but strong EBITDA margins of 19.9% helped cushion the revenue miss. PAT of Rs 1.9 billion met estimates, backed by a product-heavy mix. Nuvama retained its FY26/27 execution guidance of 1.2GW/2GW and noted the company's visibility supported by a 3.2GW order backlog. The firm tweaked earnings to account for lower EPC execution, adjusted margins, and amalgamation-related EPS dilution.ICICI Securities has reiterated a 'Buy' rating on Inox Wind with a revised target price of Rs 230, up from Rs 228 earlier.The brokerage highlighted that Inox Wind reported a strong FY25 performance, with revenue doubling to Rs 36 billion and execution rising to 0.7GW. EBITDA tripled to Rs 8 billion. The firm has factored in the execution of 1.2GW in FY26 and 1.7GW in FY27, driven by the company's robust order book of 3.2GW, which is 4.5x FY25 execution. The company also received fresh orders of 1.5GW and introduced a target to execute 2GW in FY27, supporting a positive outlook.JM Financial has maintained a 'Buy' rating on Inox Wind with a target price of Rs 216. The brokerage stated that Q4FY25 revenue rose 2.4x YoY to Rs 12.8 billion due to increased execution and improved blended realisation of Rs 54 million/MW. PAT stood at Rs 1.9 billion, in line with expectations, while EBITDA margin came in at 20%, up from 19% YoY. The firm expects execution to accelerate from 705MW in FY25 to 1,150MW in FY26 and 1,750MW in FY27, projecting revenue, EBITDA, and PAT CAGR of 45%, 46%, and 55%, respectively, for FY25–28.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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