NSE/INOXWIND

INOXWINDInox Wind Ltd

Power · NSE

₹97.9+2.62%

52-wk low52-WEEK RANGE52-wk high

₹75.49+29.7% from low ·-49.8% from high₹195

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

INOXWIND-30.64% · 1Y

Range high ₹201Range low ₹75.05Latest ₹97.9252 bars · daily-close · NSE bhavcopy + 10Y history

PowerSpecialty Industrial MachineryMidcapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite63/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -41.5% — underperformer
· Below 200-DMA (-22.0%) — downtrend

Valuation

Low

Appears to be fairly valued to cheap vs peers.

· P/E 35.7 close to sector median 36.0
· P/B 1.92 below sector median 3.29

Growth

High

Growing faster than the broader market.

· Revenue YoY +104.0% — strong top-line
· 3Y revenue CAGR +77.7% — consistent compounder

Profitability

Medium

Average profitability vs peers.

· ROE 5.4% — weak returns on equity

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(47/100)

Durability

37/100

Mixed quality signals; requires deeper due diligence.

Show 4 drivers

Piotroski F-score3/9 (33pt)
Altman Z" score0.21 (6pt)
Debt/Equity0.16 (100pt)
ROE5.4% (22pt)

Valuation

68/100

Fairly priced — not a bargain, not stretched.

Show 3 drivers

P/E vs sector (35.7 / 36.0)99% (61pt)
P/B1.92 (100pt)
EV/EBITDA17.3 (40pt)

Momentum

36/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change-41.5% (0pt)
DMA-trend alignmentsideways (50pt)
RSI (14)67.1 (88pt)
Price vs 200-DMA-24.2% (16pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)35.70

FAIR

CheapestP/E 35.7 near sector median.Most expensive

P/B1.92

UNDERVALUED

CheapestP/B 1.92 at 13th %ile of sector.Most expensive

EV/EBITDA17.30

FAIR

Monthly seasonality

Avg monthly return over 10 years · historical — not a forecast

Best: Apr +13.24% · Worst: Mar -9.57%

Jan

-2.7%

40% win

Feb

-2.3%

40% win

Mar

-9.6%

20% win

Apr

+13.2%

70% win

May

-3.6%

30% win

Jun

+5.1%

Monthly return distribution

Distribution of 120 monthly returns

Mean

+1.89%

Median

-2.24%

Std dev

18.68%

Best

+78.2%

Worst

-45.2%

% positive

44%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 2

Lean balance sheet (D/E 0.16)
Low leverage means earnings are less sensitive to rate cycles
Consistent top-line growth (77.7% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake

WEAKNESSES · 3

Low return on equity (5.4%)
Below 10% ROE suggests inefficient use of shareholder capital
Weak financial quality (Piotroski 3/9)
Score ≤3 signals multiple concerning accounting trends
Distress-zone Altman Z″ (0.21)
Historically associated with elevated bankruptcy probability

OPPORTUNITIES · 1

43% upside to consensus target (₹140)
6 analysts see fair value materially higher

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+2.6%

+12.7%

+23.0%

-16.9%

-31.1%

-32.4%

+56.1%

+40.2%

10Y

+4.4%

Fundamentals

VALUATION

Market cap

₹16,915 Cr

P/E (TTM)

35.7

P/E (fwd)

15.8

next 12m

P/B

1.92

EV/EBITDA

17.3

Book value

₹50.91

per share

PROFITABILITY · QUALITY

ROE

5.4%

ROCE

—

Net margin

12.6%

Op margin

18.9%

Gross margin

38.2%

D/E

0.16

GROWTH · MARKET

Rev YoY

+104.0%

Profit YoY

—

Div yield

—

Payout

0.0%

52w change

-41.5%

Beta

-0.12

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 5

+Forward P/E materially below trailing (15.8x vs 35.7x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Revenue growing at +104.0% YoYGrowth-category territory — implies market-share gains or market expansion
+3-year revenue CAGR of 77.7%Sustained multi-year growth — not a one-quarter flash
+Nearly debt-free (D/E 0.16)Low financial risk — funds growth from internal accruals, resilient in downturns
++43% upside to analyst consensus target6 analysts average target of ₹140 vs current ₹98

CONS · 2

−Low ROE of 5.4%Below the 10%+ threshold most quality-focused investors require
−Down -41.5% over the last year

Sector-relative context

Power · 15 peers

P/E (TTM)

This stock

35.70

Sector median

36.02

Rank 7/15 (60th %ile)

ROE

This stock

5.4%

Sector median

9.1%

Rank 8/15 (53th %ile)

P/B

This stock

1.92

Sector median

3.29

Rank 2/15 (93th %ile)

Quality score · Piotroski F-score

3 / 9

Mixed quality — several weak points

✗Profitable (positive net income)· Most basic check — company makes money
✗Positive return on assets· Assets generate returns
✗Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✗Operating margin expanded YoY· Pricing power or cost discipline
✗Asset turnover improved YoY

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

DISTRESS0.21

Z″ = 0.21 — DISTRESS zone. Historical Altman-Z models have associated this range with elevated 2-year bankruptcy probability. Treat as a flag for deeper diligence, not a verdict.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.091	×6.56	0.598
Retained Earnings / Total Assets (B)	0.005	×3.26	0.015
EBIT / Total Assets (C)	-0.067	×6.72	-0.450
Book Equity / Total Liabilities (D)	0.044	×1.05	0.046

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

6 analysts · STRONG_BUY

Target mean

₹139.50

Target high

₹155.00

Target low

₹120.00

Upside vs today

+42.6%

Street consensus target is +42.6% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Specialty Industrial Machinery

Employees

1,235

Shares out

172.8

Revenue (TTM)

₹4,428 Cr

EBITDA

₹978 Cr

Total debt

₹1,140 Cr

Cash

₹544 Cr

Net debt

₹596 Cr

Quarterly results

Last 6 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q3	2025-Q4
Revenue	—	911	1,225	826	1,119	1,207
Operating profit	—	156	192	135	177	229
OPM %	—	17.2%	15.7%	16.3%	15.8%	18.9%

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	625	731	1,659	3,507
Operating profit	-399	-261	151	575
OPM %	-63.9%	-35.7%	9.1%	16.4%
Interest	283	255	184	96
Depreciation

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
INOXWINDTHIS Inox Wind Limited	₹97.9	-41.5%	16,915	35.7	1.92	5.4%	0.16	+104.0%
ADANIPOWER Adani Power Limited	₹198.5	-65.1%	3,87,295	34.3	6.63	19.4%	0.81	-8.9%
NTPC NTPC Limited	₹393.6	+8.0%	3,85,927	22.0	2.01	9.1%	1.18	+8.0%
POWERGRID Power Grid Corporation of India Limited	₹318.1	-0.6%	2,97,340	20.5	3.00	14.6%	1.41	+10.3%
ADANIGREEN Adani Green Energy Limited	₹1,127.3	+17.9%	1,89,870	134.5	10.07	7.5%	2.96	+10.7%
ADANIENSOL Adani Energy Solutions Limited	₹1,259.8	+34.4%	1,51,290	67.5	6.48	9.6%	1.87	+15.4%
JSWENERGY JSW Energy Limited	₹538.05	+3.2%	95,366	41.7	3.25	7.8%	2.19	+67.4%
NTPCGREEN NTPC Green Energy Limited	₹111.96	+4.2%	94,796	163.0	5.06	—	1.16	—
NHPC NHPC Limited	₹83.56	-4.7%	83,314	53.2	2.01	—	1.00	-6.6%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	1.00	0.73	-27.0%
-2q	0.80	0.70	-12.5%
-3q	0.70	0.60	-14.3%
-4q	2.73	1.18	-56.8%

Date	Ratio
2024-05-24	4:1
2024-05-17	4:1

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	222	326	201	863
Reserves	27	-490	487	1,055
Borrowings	1,754	2,416	2,079	1,500
Other liabilities	0	71	0	82
Total liabilities	5,965	6,041	6,757	8,795
Fixed assets	1,537	1,755	1,924	2,388
CWIP	209	186	353	342
Investments	8	13	—	265
Other assets	149	0	115	116
Total assets	5,965	6,041	6,757	8,795

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	-475	-1,100	-366	138
CF Investing	-74	231	487	-406
CF Financing	486	824	-130	277
Net cash flow	-62	-45	-9	9
Free cash flow	-654	-1,488	-905	-483

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	16.4%	9.1%	-35.7%	-63.9%
Net margin %	12.8%	-2.1%	-91.3%	-76.9%
ROE %	34.4%	-13.6%	-1569.1%	-192.9%
ROCE %	20.5%	5.6%	-19.4%	-18.5%
Debt / Equity	0.78	3.02	-14.74	7.05
Interest coverage	6.6×	0.8×	-1.6×	-1.3×
Revenue growth YoY	+111.3%	+127.1%	+17.0%	—
Profit growth YoY	+1357.3%	+94.7%	-38.9%	—

INOXWINDInox Wind Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Power

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Technical snapshot

Earnings history + surprises

Dividends + splits history

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Recent news

Stock scorecard

SWOT analysis

Ratios

Peer comparison · Power