Inox Wind shares drop 7% as analysts cut estimates after Q3 results

Shares of Inox Wind Ltd. plunged nearly 7 per cent on Monday, falling to over a two-year low after an analyst downgraded the stock following its December quarter earnings for the financial year 2026 (Q3-FY26).

 

The company's stock fell as much as 6.8 per cent during the day to ₹99.06 per share, the biggest intraday fall since July 15 last year. The stock pared losses to trade 5.5 per cent lower at ₹100.4 apiece, compared to a 0.10 per cent advance in Nifty 50 as of 10:00 AM. 

 

Shares of the company fell for the fourth straight session and currently trade at 4.9 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 19 per cent this year, compared to a 2.5 per cent decline in the benchmark Nifty 50. Inox Wind has a total market capitalisation of ₹10,135.71 crore. 

 

Inox Wind Q3 results 

Inox Wind reported a 14 per cent rise in consolidated net profit to ₹126.65 crore in the December quarter. The company's total income rose to ₹1,238.42 crore from ₹994.73 crore during the same quarter a year ago.

 

The net order book stands at 3.2 GW, providing revenue visibility of 18-24 months. Total order inflow for FY26 stands at 600 MW, including orders from Aditya Birla, Amplus/Gentari, Jakson, and First Energy, among others.

 

"At InoxGFL Group, all our renewable companies are primed for massive growth in the years ahead. We aim Inox Wind continues to deliver strong performance and execution, while the large-scale O&M portfolio expansion of Inox Green further adds to consolidated profitability," InoxGFL Group Executive Director Devansh Jain said.   CHECK Stock Market LIVE Updates

Analysts on Inox Wind Q3 earnings 

JM Financial has downgraded Inox Wind Ltd to 'Add' from 'Buy', while trimming its FY28 earnings per share (EPS) estimates. The brokerage noted that the company currently has an order book of 3.2 gigawatts (Gw). 

 

However, citing challenges related to grid connectivity, right of way (RoW) issues and delays in power purchase agreements (PPAs), JM Financial has revised its execution estimates downward. It now expects Inox Wind to execute 900 megawatts in FY26, 1,100 Mw in FY27 and 1,200 megawatts in FY28, compared with its earlier projections of 1,050 Mw, 1,500 Mw and 1,600 Mw, respectively.

 

Motilal Oswal Financial Services said Inox Wind reported a soft Q3, with deliveries falling short of expectations. The company’s quarterly revenue missed the brokerage’s estimates by 34 per cent, largely due to weaker-than-expected execution. The brokerage has cut its profit after tax estimates for FY26 and FY27 by 10 per cent and 5 per cent, respectively, factoring in slightly lower delivery volumes and realisations.

 

The brokerage has also reduced its valuation multiple to 20 times from 24 times, citing weaker broader market sentiment, modest earnings downgrades, and a slower-than-anticipated pace of new order inflows.

 

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