Q4 2026 Inox Wind Ltd Earnings Call Transcript
Key Points
- Inox Wind Ltd (BOM:539083) reported a strong quarter with consolidated revenue of INR1,306 crore and EBITDA of INR333 crore.
- The company has a well-diversified order book of 3.1 gigawatts, providing execution visibility for more than 24 months.
- Inox Wind Ltd is pivoting towards equipment supply, which is expected to improve working capital cycles and reduce risks associated with turnkey projects.
- The launch of a new 4.4 megawatt turbine is on track, expected to enhance market penetration and improve margins.
- Inox Green, the O&M subsidiary, continues its growth trajectory and is poised to become one of the largest renewable O&M companies globally by 2030.
- Geopolitical tensions have caused logistical challenges and delays in project execution, impacting revenue targets.
- There have been payment delays in PSU contracts, affecting the receivables cycle.
- The transition from turnkey to equipment supply, while strategic, may initially impact revenue recognition and cash flow.
- The company faced challenges in achieving its revenue guidance due to external factors like supply chain disruptions.
- There is concern among investors about the company's historical pattern of overcommitting and underdelivering on certain metrics.
Ladies and gentlemen, good day, and welcome to Inox Wind and Inox Green Energy Services Limited Q4 FY26 earnings conference call hosted by JM Financial Institutional Securities. (Operator Instructions)
I now hand the conference over to Mr. Sudhanshu Bansal (technical difficulty).
(technical difficulty) renewable power generation moves structurally from being a source of infirm power to firm power.
The ongoing geopolitical tensions have provided further tailwinds to the entire ecosystem for the renewable energy sector, right from equipment manufacturing to renewable power generation capacity. As you are aware, there is a strong push from the government to increase domestic manufacturing and reduce import dependencies. INOXGFL is extremely well placed to benefit from and contribute towards achieving these goals. We are one of the most integrated players in energy transition in the country today. Given our strong presence in the entire value chain right from manufacturing of wind
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