Inox Wind Share Price Plunges 8% Following Disappointing Q4 Earnings.

Inox Wind Share Price Declines Over 8% Amid Weak Q4FY26 Numbers

Inox Wind, a leading wind energy solutions provider in India, reported a significant decline in earnings for the March quarter of FY26, causing its share price to drop by over 8% on Monday, 1 June. The company posted a consolidated net profit of ₹105.68 crore in the fourth quarter, a nearly 45% drop from ₹190.34 crore reported in the corresponding period last year.

The decline in profitability was largely due to higher operating expenses during the quarter. Inox Wind's total income from operations slipped marginally to ₹1,305.50 crore in the January-March period from ₹1,310.65 crore a year ago. However, total expenses increased to ₹1,161.59 crore, compared with ₹1,103.01 crore in the year-ago quarter.

Despite the lackluster quarterly performance, Inox Wind noted that its order backlog reached 3.1 GW as of 31 March 2026, providing revenue predictability for over 2 years. The firm attributed the challenges faced during the quarter to on-site execution, geopolitical issues impacting the supply of equipment and components, logistical delays, and postponed customer payments in a tough macroeconomic climate.

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Nuvama Institutional Equities has revised its estimates for Inox Wind, lowering its execution estimates for FY27 and FY28 to 1.4 GW and 1.75 GW, respectively, from 1.6 GW and 2 GW earlier. The brokerage also cut its FY27 and FY28 earnings estimates by 33% and 34%, respectively. Despite the downgrade in estimates, Nuvama has retained its 'Buy' rating, citing potential value creation from upcoming corporate actions and new growth opportunities.

ICICI Securities also noted that Inox Wind's FY26 performance was impacted by execution delays and on-ground challenges, resulting in a weaker-than-expected outcome for the year. The brokerage highlighted that Inox Wind's order book stood at 3.1 GW, with 27% comprising equipment supply orders, providing healthy revenue visibility.

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ICICI Securities has maintained its 'Buy' rating on the stock while revising its target price to ₹120 from ₹130 earlier. The brokerage has also highlighted that working capital days improved by 15 days to 195 days, while cautioning that further delays in order execution remain a key risk.

Inox Wind's share price today opened at ₹89.69 per share on the BSE, touched an intraday high of ₹91.10 per share, and an intraday low of ₹85.14 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the price action indicates a weakening technical structure, and the stock could drift towards its recent swing low near ₹75.