IWEL

Inox Wind Energy share price & financials

Price
₹10,293
Market cap
₹12.4k Cr
Sector
Capital Goods

What Inox Wind Energy does

Inox Wind Energy Limited (IWEL) is the listed holding company for the INOXGFL Group's wind energy business, established in 2020 and listed on the BSE and NSE in June 2021 following the demerger of Gujarat Fluorochemicals Limited's renewable energy undertaking. It earns mainly through its strategic investment in subsidiary Inox Wind Limited (IWL) — the group's operating wind turbine OEM, EPC and O&M business — rather than through direct manufacturing, project execution or turbine sales of its own. IWEL itself carries out minimal direct operations and is currently undergoing a Board-approved scheme of amalgamation to merge into IWL, pending NCLT approval.

Corporate structure
Holding company for INOXGFL Group's wind energy business (no direct manufacturing/EPC operations of its own)
Principal investee / operating subsidiary
Inox Wind Limited (IWL) — group's wind turbine OEM, EPC & O&M business
Standalone employees
2 (as of March 31, 2024)
Pending corporate action
Scheme of amalgamation to merge IWEL into subsidiary Inox Wind Limited, approved by Board (June 2023), awaiting NCLT approval
Listing history
Listed on BSE & NSE in June 2021 via demerger of Gujarat Fluorochemicals Limited's renewable energy business
Parent group
INOXGFL Group
Founded 2020Headquarters Una, Himachal PradeshEmployees 2 (2024-03-31) Company website

Quarterly results

Q4 FY25: revenue up 141.5%, net profit up 400.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ1 FY24Q2 FY24Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25
Revenue350 371 504 528 640 +83%733 +98%912 +81%1,275 +141%
EBITDA29 27 113 99 135 +366%166 +515%205 +81%254 +157%
Net profit-66 -57 -7 38 42 +164%84 +247%124 +1871%190 +400%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +45.0% 1Y

₹8k₹10k₹12k₹14kJun 24Aug 24Sept 24Oct 24Dec 24Jan 25Mar 25May 25Jun 25

1Y: ₹7,097.55 on 18 Jun 2024 → ₹10,293. High ₹13,788.45 (23 Sept 2024), low ₹6,786.2 (28 Jun 2024).

Financials, as filed

Revenue grew 120.5% a year over 2 years, FY23 to FY25. Operating margin widened to 21.3%.

Year endingFY23FY24FY25
Revenue₹732 Cr₹1.8k Cr₹3.6k Cr
Operating profit₹-285 Cr₹268 Cr₹760 Cr
Operating margin-38.9%15.3%21.3%
Interest₹329 Cr₹246 Cr₹170 Cr
Depreciation₹100 Cr₹115 Cr₹182 Cr
Net profit₹-665 Cr₹-92 Cr₹440 Cr
Net margin-90.8%-5.2%12.4%
Cash from operations₹-1.1k Cr₹-367 Cr₹138 Cr
Free cash flow₹-1.5k Cr₹-882 Cr₹-483 Cr
ROCE-9.0%4.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25
Equity capital₹11 Cr₹11 Cr₹11 Cr₹12 Cr₹12 Cr
Reserves₹1.5k Cr₹1.5k Cr₹1.0k Cr₹1.8k Cr₹3.0k Cr
Borrowings₹1.3k Cr₹1.8k Cr₹2.3k Cr₹2.1k Cr₹1.5k Cr
Other liabilities₹2.8k Cr₹2.9k Cr₹2.8k Cr₹3.0k Cr₹4.3k Cr
Total liabilities₹5.6k Cr₹6.2k Cr₹6.1k Cr₹6.9k Cr₹8.8k Cr
Fixed assets₹1.3k Cr₹1.4k Cr₹1.7k Cr₹1.8k Cr₹2.3k Cr
Capital work in progress₹309 Cr₹188 Cr₹163 Cr₹304 Cr₹296 Cr
Investments₹33 Cr₹33 Cr₹1 Cr₹0 Cr₹446 Cr
Other assets₹4.0k Cr₹4.5k Cr₹4.3k Cr₹4.7k Cr₹5.8k Cr
Total assets₹5.6k Cr₹6.2k Cr₹6.1k Cr₹6.9k Cr₹8.8k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Mar 2025

Since Mar 2024, the public trimmed −2.75 pp while DIIs added +1.71 pp. The shareholder count grew 7% to 17,393.

Promoters
69.5%
FIIs
3.7%
DIIs
2.5%
Public
24.3%

Since Mar 2024

  • Public −2.75 pp
  • DIIs +1.71 pp
  • FIIs +1.06 pp

How it drifted, 12 quarters

Over this window FIIs fell from 5.8% to 3.7% — −2.1 pp.

Jun '22Sep '23Mar '25

Ownership split by quarter, oldest first. Jun '22: Promoters 68.7%, FIIs 5.8%, DIIs 3.1%, Public 22.4%.Sep '22: Promoters 68.7%, FIIs 5.4%, DIIs 3.1%, Public 22.8%.Dec '22: Promoters 68.7%, FIIs 5.4%, DIIs 2.4%, Public 23.5%.Mar '23: Promoters 67.3%, FIIs 5.3%, DIIs 2.3%, Public 25.1%.Jun '23: Promoters 67.3%, FIIs 5.2%, DIIs 2.2%, Public 25.3%.Sep '23: Promoters 69.5%, FIIs 4.9%, DIIs 2.0%, Public 23.6%.Dec '23: Promoters 69.5%, FIIs 3.8%, DIIs 1.6%, Public 25.2%.Mar '24: Promoters 69.5%, FIIs 2.6%, DIIs 0.8%, Public 27.0%.Jun '24: Promoters 69.5%, FIIs 3.1%, DIIs 0.7%, Public 26.7%.Sep '24: Promoters 69.5%, FIIs 3.5%, DIIs 0.9%, Public 26.0%.Dec '24: Promoters 69.5%, FIIs 3.9%, DIIs 1.9%, Public 24.7%.Mar '25: Promoters 69.5%, FIIs 3.7%, DIIs 2.5%, Public 24.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Dec 2024

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Mar 2025 filing

Every holder of Inox Wind Energy above SEBI's 1% disclosure line, and what changed since Dec 2024.

HolderStakeChange
Inox Leasing and Finance Limited 48.27%unchanged
Devansh Trademart LLP 12.39%unchanged
Aryavardhan Trading LLP 4.63%unchanged
Vivek Kumar Jain 4.19%unchanged
Akash Bhanshali 3.74%unchanged
Blue Daimond Properties Pvt. Ltd 1.29%unchanged
Bandhan Small Cap Fund Mutual fund1.10%+0.05 pp
India Opportunities Growth Fund Ltd-Pinewood Startegy FPI fund1.04%unchanged
Devendra Kumar Jain 0.02%unchanged
Nandita Jain 0.01%unchanged
Devansh Jain 0.01%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse Inox Wind Energy

Guides on how to read this kind of business and the numbers that matter.