AI-generated · cited to primary sources · not investment advice
Inox Wind (539083) Nov 2025 Filing Analysis
Does management do what it says?
The company has already reached an O&M portfolio of ~12.5 GW following the acquisition of 6.5 GW of wind O&M assets, surpassing the 10 GW target ahead of the 2-year timeline. (1 exceeded across 1 tracked commitment)
“Inox Green completes investments to acquire 6.5 GW of wind O&M assets taking its O&M portfolio to ~12.5 GW”
While management officially sticks to the 18-19% guidance, the actual H1 FY26 performance of 22%+ significantly exceeds this range. (1 exceeded, 2 revised across 3 tracked commitments)
“But on the 18%-19% EBITDA margin guidance that we had increased in the last quarter, we continue to stick on that.”
The demerger scheme has received shareholder and creditor approval; final NCLT approval is pending to realize the depreciation savings. (2 in progress across 2 tracked commitments)
“Once this scheme receives final approval from NCLT, gross block of around Rs. 1,000 crores will be eliminated from Inox Green's balance sheet and subsequently the annual depreciation of Rs. 50 crores to Rs. 55 crores will be eliminated”
Management achieved 350 MW execution in H1 FY26 (approx. 29% of target). They maintain the 1.2 GW target, noting that H2 typically accounts for 70% of annual execution. (2 in progress, 2 revised across 4 tracked commitments)
“we are on the track to achieve our guidance for the full year, with H2 generally being 70% of the annual execution.”
CAPEX guidance for FY26 is approximately Rs. 200 odd crores. — target: Rs. 200 odd crores (+1 more commitment)
“For FY'26 our CAPEX guidance is around Rs. 200 odd crores.”
See the full cited Management analysis of Inox Wind
AI-generated informational research only. ThesisLoop is not investment advice, a stock recommendation, or a guarantee of returns.