Inox Wind posts record growth in FY25 as cash PAT jumps 800%

Renewable energy major Inox Wind Ltd (IWL) today posted a dramatic turnaround in its FY25 financials, led by an eightfold jump in cash profit after tax (PAT) to ₹734 crore. The massive jump in profit has positioned the company as one of India’s most aggressively growing renewable energy players. The wind turbine manufacturer swung from a net loss of ₹48 crore in FY24 to a profit of ₹438 crore this fiscal, marking its highest-ever quarterly and annual profit.

Revenues doubled year-on-year (YoY) to ₹3,702 crore, while EBITDA surged 167% to ₹918 crore, showcasing strong execution and cost discipline. The company also showcased a robust 83% YoY growth in order execution during Q4 and an impressive 705 MW delivered in FY25.

The company’s cash PAT—a key liquidity and performance indicator—rose 800% from ₹82 crore to ₹734 crore, signalling strong internal accruals and operational cash generation. The EBITDA margin stood at a healthy 25% for the year.

IWL’s forward visibility looks equally promising. According to the company, it ended the year with a record order book of ~3.2 GW, reflecting 21% growth over FY24. Order inflows for the year stood at ~1.5 GW, backed by marquee clients such as NTPC, CESC, Hero Future Energies and Amplus Solar.

Adding to the momentum, the National Company Law Tribunal (NCLT) approved the merger between parent Inox Wind Energy Ltd and IWL, leading to a balance sheet clean-up with a reduction in liabilities by ₹2,050 crore. The restructuring significantly improves IWL’s gearing and capital flexibility heading into FY26.

“Inox Wind continues to deliver strong results reporting its highest ever quarterly profit, a testament of 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.

The company also expanded its operations footprint, with a new nacelle plant in Gujarat nearing commissioning, while its subsidiary Inox Green crossed a renewables O&M portfolio of 5.1 GW, making a foray into solar maintenance services.