Q3 2025 Inox Wind Ltd Earnings Call Transcript
Key Points
- Inox Wind Ltd (BOM:539083) reported a significant increase in revenue for Q3 FY25, reaching INR994 crores, a 96% year-over-year growth.
- The company achieved its highest-ever Q3 EBITDA of INR290 crores, marking a 192% increase from the previous year.
- Profit after tax for Q3 FY25 was INR112 crores, the highest-ever for Q3 in the company's history.
- Inox Wind Ltd's credit ratings for short-term bank facilities were upgraded to the highest possible ratings by two agencies, with long-term ratings upgraded to A+ with a stable outlook.
- The company has a well-diversified order book of 3.3 GW and is confident of achieving its FY26 guidance, reflecting strong future growth potential.
- Despite strong financial performance, the company faces on-ground project execution challenges, which could impact future execution timelines.
- There is a lag in commissioning turbines on the ground, with only 200 MW ready for commissioning out of the 470 MW supplied.
- The company maintains a guidance of 17% EBITDA margin for the full fiscal year, which may be seen as conservative given the current performance.
- The demerger of the substation business from Inox Green is still pending approval from NSE and BSE, causing potential delays.
- The merger between Inox Wind and Inox Wind Energy is in the final stages but has been delayed due to procedural issues at NCLT.
Ladies and gentlemen, good day and welcome to Inox Wind Q3 FY25 earnings conference call hosted by Invesec Capital Services. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Anuj Upadhyay from Investec Capital Services. Thank you and over to you, sir.
Hi, Sid. Good evening, everyone, and welcome to the Q3 FY25 earnings call of Inox Wind Limited. For today's call, we have with us Mr. Devansh Jain, Executive Director of Inox GFL Group; Mr. Kailash Tarachandani, Group CEO, Inox Wind Limited, Mr. Akhil Jindal, Group CFO, GFL Group, and other senior members of the management. I would now hand over the call to the management for their initial remarks, after which we will open the floor for the Q&A session.
Thank you, and over to you Anshuman.
Thanks, Anuj. Good evening, everyone, and thank you for joining today's conference call. I will take you through
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