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SummaryLatest NewsSector ComparisonEarnings ReportRevenue & GrowthPeersIncome StatementBalance SheetCash Flow
INDOWIND logo

INDOWIND - Indowind Energy Ltd. Share Price

Power
Sharesguru Stock Score

INDOWIND

60/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

₹9.73-0.22(-2.21%)
Market Closed as of May 29, 2026, 15:30 IST
Pros

Technicals: Bullish SharesGuru indicator.

Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.

Balance Sheet: Strong Balance Sheet.

Cons

Dilution: Company has a tendency to dilute it's stock investors.

Momentum: Stock has a weak negative price momentum.

Dividend: Stock hasn't been paying any dividend.

Size: It is a small market cap company and can be volatile.

Past Returns: Underperforming stock! In past three years, the stock has provided -2.6% return compared to 8.9% by NIFTY 50.

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Sharesguru Stock Score

INDOWIND

60/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

Valuation

Market Cap161.49 Cr
Price/Earnings (Trailing)71.64
Price/Sales (Trailing)3.96
EV/EBITDA12.99
Price/Free Cashflow-8.45
MarketCap/EBT119.74
Enterprise Value162.26 Cr

Fundamentals

Revenue (TTM)40.75 Cr
Rev. Growth (Yr)-20.5%
Earnings (TTM)-22.96 L
Earnings Growth (Yr)-56.2%

Profitability

Operating Margin9%
EBT Margin13%
Return on Equity0.86%
Return on Assets0.76%
Free Cashflow Yield-11.84%

Growth & Returns

Price Change 1W1.5%
Price Change 1M-3.9%
Price Change 6M-39.8%
Price Change 1Y-50.3%
3Y Cumulative Return-2.6%
5Y Cumulative Return18.7%
7Y Cumulative Return9.4%
10Y Cumulative Return10.9%

Cash Flow & Liquidity

Cash Flow from Investing (TTM)-33.8 Cr
Cash Flow from Operations (TTM)2.77 Cr
Cash Flow from Financing (TTM)38.55 Cr
Cash & Equivalents8.73 Cr

Balance Sheet

Total Assets347.72 Cr
Total Liabilities39.6 Cr
Shareholder Equity308.12 Cr
Current Assets42.48 Cr
Current Liabilities1.66 Cr
Net PPE163.87 Cr
Inventory1.78 Cr
Goodwill74.55 Cr

Capital Structure & Leverage

Debt Ratio0.06
Debt/Equity0.06
Interest Coverage0.6

Dividend & Shareholder Returns

Shares Dilution (1Y)25%
Shares Dilution (3Y)50%
Pros

Technicals: Bullish SharesGuru indicator.

Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.

Balance Sheet: Strong Balance Sheet.

Cons

Dilution: Company has a tendency to dilute it's stock investors.

Momentum: Stock has a weak negative price momentum.

Dividend: Stock hasn't been paying any dividend.

Size: It is a small market cap company and can be volatile.

Past Returns: Underperforming stock! In past three years, the stock has provided -2.6% return compared to 8.9% by NIFTY 50.

The Good, Bad and Ugly
Growth
Measures how quickly a company is expanding through metrics like revenue growth, earnings growth, and cash flow growth over time. Strong growth can indicate future potential.
Profitability
Shows how efficiently a company turns business activities into profit, using metrics like profit margins, return on equity (ROE), and return on assets (ROA).
Size
Indicates the company's market presence through metrics like market capitalization, total assets, and revenue. Size can influence stability and market influence.
Dilution Rank
Tracks how much the company's shares have increased or decreased over time. Lower dilution means existing shareholders maintain stronger ownership stakes.
Balance Sheet
Evaluates the company's financial health by analyzing assets, debts, and equity. A strong balance sheet indicates financial stability and flexibility.
Momentum
Measures the strength and speed of price movements, showing whether the stock is gaining or losing market favor over different time periods.
Technicals
Analyzes price patterns, trading volumes, and other market indicators to identify potential trading opportunities and market trends.
Smart Money
Tracks the investment activities of institutional investors, hedge funds, and other large financial players who often have deep research capabilities.
Insider Trading
Monitors buying and selling of company shares by executives, directors, and other insiders who may have unique insights into the company's prospects.

Investor Care

Shares Dilution (1Y)25%
Earnings/Share (TTM)0.14

Financial Health

Current Ratio4.3
Debt/Equity0.06

Technical Indicators

RSI (14d)34.05
RSI (5d)59.04
RSI (21d)44.56
MACD SignalSell
Stochastic Oscillator SignalHold
SharesGuru SignalBuy
RSI SignalHold
RSI5 SignalHold
RSI21 SignalHold
SMA 5 SignalBuy
SMA 10 SignalBuy
SMA 20 SignalSell
SMA 50 SignalBuy
SMA 100 SignalBuy

Summary of Latest Earnings Report from Indowind Energy

Summary of Indowind Energy's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

During the earnings call held on November 24, 2025, management discussed the positive trajectory of Indowind Energy Limited, highlighting strong financial performance and a robust outlook for the future. The company reported a consolidated revenue of INR 17.74 crore for Q2 FY'26, up 11.46% from INR 15.92 crore in Q2 FY'25. EBITDA for the quarter grew by 15.58% to INR 10.53 crore, with EBITDA margins improving to 59.32%. Net profit was recorded at INR 4.7 crore, reflecting a year-on-year increase of 3.62%. For H1 FY'26, revenue reached INR 29.29 crore, a year-on-year increase of 25.81%, with net profit rising 17.16% to INR 7.15 crore.

Management underscored the encouraging momentum in renewable energy adoption and emphasized their capability to generate reliable green power. They are advancing a 4 MW solar project through a rights issue worth INR 49.5 crore, aiming to enhance capacity and profitability. The promoter, Bala Venkat Kutti, indicated plans to add approximately 50 MW of capacity in the coming years through organic and inorganic growth avenues, including possible strategic partnerships. They remain focused on operational efficiencies, with a commitment to maintain strong O&M practices that have recently boosted machine availability.

Looking ahead, management is optimistic about sustaining growth, positioning the company favorably to meet increasing demand from corporates for clean energy. They remain dedicated to improving asset performance and delivering long-term value for stakeholders.

Question 1: Please tell us about your capacity under management and any planned additions for this fiscal year and next year?

Answer: We currently manage approximately 54 megawatts of wind farms. We aim to add around 50 megawatts of solar over the next few years, depending on funding and government support.

Question 2: Do you handle EPC work or just project management?

Answer: We construct projects but do not regular EPC manufacturing. We build projects and sometimes sell them, maintaining long-term arrangements to take them back after agreed periods.

Question 3: What is your O&M capacity and do you outsource any services?

Answer: We handle most O&M in-house, but we outsource around 20 megawatts when required. In the future, we plan to strengthen our in-house capabilities for O&M.

Question 4: What types of solar projects are you considering?

Answer: Our current solar project is a 4 megawatt independent project in Karnataka. We're also exploring hybrid projects combining solar with existing wind capacities, particularly in Tamil Nadu.

Question 5: How much funding do you aim to raise through your rights issue?

Answer: We are looking to raise approximately INR 49.5 crore through the rights issue, with promoters planning to take up their entire quota.

Question 6: Can you maintain your high EBITDA margins as you expand into solar?

Answer: Yes, while solar has lower initial costs, it complements wind generation. We expect the efficiency improvements to sustain or even enhance our EBITDA margins over time.

Question 7: What growth guidance can you provide for this fiscal year?

Answer: With new projects like the 4 megawatt solar, we expect to outperform the industry growth rate in power production, especially starting from Q1 of the next financial year.

Question 8: Is Indowind considering strategic partnerships or joint ventures?

Answer: Yes, we are open to partnerships, especially as we have substantial land banks and are exploring ways to optimize our existing assets for hybrid projects.

Question 9: How do you plan to enhance asset monitoring and digitization?

Answer: We currently use SIM cards in machines for data collection and plan to increase our digitization efforts with mobile platforms and the potential for data center opportunities.

Question 10: What are your execution priorities for the upcoming quarters?

Answer: Our top priorities include improving machine availability, completing the 4 megawatts solar project, and pursuing expansions and acquisitions to enhance our business operations.

Share Holdings

Understand Indowind Energy ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Share Holding Details

Shareholder NameHolding %
SOURA CAPITAL PRIVATE LIMITED12.2%
INDUS CAPITAL PRIVATE LIMITED9%
SOURA INVESTMENTS HOLDINGS PRIVATE LIMITED8.93%
LOYAL CREDIT AND INVESTMENTS LIMITED8.3%
BALA VENCKAT KUTTI6.17%
COMMENDAM INVESTMENTS PRIVATE LIMITED1.73%
INDUS FINANCE LIMITED1.45%
K. S. RAVINDRANATH1.04%
K B PRATHADEVI0.6%
MANOHARAN V KUTTI0.47%
SHALINI KUTTI0.03%
AMITH KUTTI0%
KV BALA HUF0%
KANCHANAMALA0%
BEKAE PROPERTIES PRIVATE LIMITED0%
EVERON WORLD PRIVATE LIMITED0%
QUANTUM LIMITED0%
INDUS NUTRI POWER PRIVATE LIMITED0%
INDONET GLOBAL LIMITED0%
EVER ON POWER LIMITED0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Is Indowind Energy Better than it's peers?

Detailed comparison of Indowind Energy against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker
Name
Mkt Cap
Revenue
Price %, 1M
Returns, 1Y
P/E
P/S
Rev 1-Yr
Inc 1-Yr

Income Statement for Indowind Energy

Consolidated figures (in Rs. Crores) /
Description(%) Q/QMar-2026Mar-2025Mar-2024Mar-2023Mar-2022Mar-2021
Revenue From Operations18.2%403440342519
Other Income-144.6%0.422.32.140.92.442.06
Total Income14.3%413642352721
Cost of Materials-00150118.25
Employee Expense14.5%3.63.272.962.42.182.2
Finance costs103.2%2.931.954.272.21.892.05
Depreciation and Amortization12.8%8.217.397.16.996.929.32
Other expenses10.5%22205.18173.722.37
Total Expenses16.1%373235292720
Profit Before exceptional items and Tax11.2%3.793.516.615.70.150.26
Exceptional items before tax--2.440-1.05-6.8600
Total profit before tax-86.1%1.353.515.56-1.160.150.26
Current tax0%0.780.780.6200.020.04
Deferred tax-193.5%0.571.46-2.331800
Total tax-72.6%1.342.24-1.71180.020.04
Total profit (loss) for period-484.6%01.267.27-19.260.130.22
Other comp. income net of taxes-8.3%-0.040.04-0.15-2.051.620
Total Comprehensive Income-446.7%-0.041.37.12-21.311.740.22
Earnings Per Share, Basic-12.4%00.110.68-2.150.190.02
Earnings Per Share, Diluted-12.4%00.110.68-2.150.190.02
Description(%) Q/QMar-2026Dec-2025Sep-2025Jun-2025Mar-2025Dec-2024
Revenue From Operations-15.6%5.236.0118124.87.94
Other Income-17.1%0.040.180.190.011.830.34
Total Income-17.7%5.276.1918126.638.28
Cost of Materials-000000
Employee Expense300%1.240.880.830.651.010.56
Finance costs-9.8%0.10.182.380.270.530.42
Depreciation and Amortization306.2%1.330.843.612.421.090.74
Other expenses11.4%6.285.746.395.696.14.23
Total Expenses16.7%8.757.64139.038.548.35
Profit Before exceptional items and Tax-84%-3.49-1.444.532.52-1.91-0.06
Exceptional items before tax-613.4%-2.441.670000
Total profit before tax-800%-5.930.234.532.52-1.91-0.06
Current tax-0.4700.300.780
Deferred tax108.8%1.1-0.13-0.35-0.062.080
Total tax150.4%1.57-0.13-0.05-0.062.870
Total profit (loss) for period-1221.9%-7.460.364.582.29-4.770.02
Other comp. income net of taxes-10.6%-0.040.06000.020
Total Comprehensive Income-1365.5%-7.50.424.582.29-4.750.03
Earnings Per Share, Basic-50.5%-0.460.030.370.2-0.370
Earnings Per Share, Diluted-50.5%-0.460.030.370.2-0.370
Standalone figures (in Rs. Crores) /
Description(%) Q/QMar-2026Mar-2025Mar-2024Mar-2023Mar-2022Mar-2021
Revenue From Operations42.9%312229281816
Other Income-261.5%0.791.131.20.92.442.06
Total Income40.9%322330292018
Cost of Materials-006.8405.74.11
Employee Expense36.1%3.62.912.622.362.182.2
Finance costs53.2%2.932.263.952.21.892.05
Depreciation and Amortization15.9%8.217.226.996.996.929.32
Other expenses40.2%139.563.4113.612.22
Total Expenses28.6%282225232018
Profit Before exceptional items and Tax318.7%4.141.754.725.690.150.26
Exceptional items before tax--2.4401.05-6.8600
Total profit before tax-6.7%1.71.755.77-1.170.150.26
Current tax-4.5%0.770.780.6200.020.04
Deferred tax-78.9%0.660.8101800
Total tax-27.1%1.431.590.62180.020.04
Total profit (loss) for period13.1%0.270.165.15-19.270.120.22
Other comp. income net of taxes-281.8%01.550.16-3.861.620
Total Comprehensive Income-202.8%0.271.715.31-23.121.740.22
Earnings Per Share, Basic1%0.020.010.5-2.150.190.02
Earnings Per Share, Diluted1%0.020.010.5-2.150.190.02
Description(%) Q/QMar-2026Dec-2025Sep-2025Jun-2025Mar-2025Dec-2024
Revenue From Operations22.4%5.054.31138.782.025.39
Other Income26.8%0.40.180.190.010.660.34
Total Income27.5%5.454.49138.792.685.73
Cost of Materials-000000
Employee Expense330.4%1.530.770.710.590.920.73
Finance costs-9.8%0.10.182.380.270.850.42
Depreciation and Amortization336.8%1.450.813.572.3810.72
Other expenses102.9%4.472.713.664.043.211.54
Total Expenses83.5%7.354.46107.295.785.6
Profit Before exceptional items and Tax-199%-1.90.032.831.5-3.10.13
Exceptional items before tax-613.4%-2.441.670000
Total profit before tax-862.9%-4.341.72.831.5-3.10.13
Current tax-0.770000.780
Deferred tax116.8%1.19-0.13-0.35-0.061.430
Total tax185%1.96-0.13-0.35-0.062.210
Total profit (loss) for period-984.3%-6.341.833.181.56-5.310.13
Other comp. income net of taxes-00001.290.09
Total Comprehensive Income-984.3%-6.341.833.181.56-4.020.22
Earnings Per Share, Basic-56.2%-0.390.110.250.12-0.410.01
Earnings Per Share, Diluted-59.8%-0.390.130.250.12-0.410.01

Balance Sheet for Indowind Energy

Consolidated figures (in Rs. Crores) /
Description(%) Q/QMar-2026Sep-2025Mar-2025Sep-2024Mar-2024Sep-2023
Cash and cash equivalents10942.9%8.731.071.210.470.480.67
Total current financial assets85.7%402210369.4221
Inventories-93.5%1.78131.589.963.9116
Current tax assets-0.58-0000
Total current assets-16.3%425032601737
Property, plant and equipment0.6%164163161145150224
Capital work-in-progress2344.4%121.450.960.960.960.96
Goodwill-10.8%75840000
Non-current investments0%0.040.040.040.040.049.05
Loans, non-current-9.2701.863.240.53.28
Total non-current financial assets220%491613121221
Total non-current assets11.4%305274273269295255
Total assets-324-299---
Total assets-348-305---
Total assets7.4%348324305329312292
Borrowings, non-current0%9.519.511.61193726
Total non-current financial liabilities0.2%9.539.511.61193743
Provisions, non-current-0.0900000
Total non-current liabilities48%382618345343
Borrowings, current-113.3%08.515.360185.43
Total current financial liabilities-94.3%1.57116.532.542012
Provisions, current-1920%0.091.050.7900.621.26
Current tax liabilities-0-0-00
Total current liabilities-94%1.66127.752.742214
Total liabilities-40-26---
Total liabilities-40-26---
Total liabilities8.3%403726377456
Equity share capital25%161129129129107107
Non controlling interest-61.1%0.710.820.710.790.7-1.41
Total equity7.3%308287280292238235
Total equity and liabilities7.4%348324305329312292
Standalone figures (in Rs. Crores) /
Description(%) Q/QMar-2026Sep-2025Mar-2025Sep-2024Mar-2024Sep-2023
Cash and cash equivalents1897.7%8.730.570.80.340.360.44
Total current financial assets20%373118389.3425
Inventories-83.2%1.785.641.585.851.667.38
Current tax assets-0.58---00
Total current assets-18%425140571432
Property, plant and equipment3.2%164159157142147147
Capital work-in-progress2344.4%121.450.960.960.960.96
Investment property-0-9.7--0
Goodwill-7500000
Non-current investments-111%0.049.709.79.79.26
Loans, non-current-9.27000.7601.17
Total non-current financial assets95.7%462417201920
Total non-current assets13.9%305268262267262254
Total assets-324-295---
Total assets-348-302---
Total assets9.1%348319302324277287
Borrowings, non-current0%9.519.511.61197.3325
Total non-current financial liabilities5.8%109.511.61197.3325
Provisions, non-current-0.0900000
Total non-current liabilities48%382618342342
Borrowings, current-113.3%08.515.360170
Total current financial liabilities-92.3%1.85126.252.35199.12
Provisions, current-264%0.090.750.7800.621.26
Current tax liabilities-0---0-
Total current liabilities-90.5%2.05127.492.352010
Total liabilities-40-26---
Total liabilities-40-26---
Total liabilities5.4%403826374352
Equity share capital25%161129129129107107
Total equity9.3%307281276288234234
Total equity and liabilities9.1%348319302324277287

Cash Flow for Indowind Energy

Consolidated figures (in Rs. Crores) /
Description(%) Q/QMar-2026Mar-2025Mar-2024Mar-2023Mar-2022Mar-2021
Finance costs-205.3%01.954.272.21.89-
Change in inventories7.4%0-0.080.530.060.88-
Depreciation-115.6%07.397.17.066.92-
Adjustments for interest income-907.7%-2.930.61000.06-
Net Cashflows from Operations142.7%4.71-7.69271.142.47-
Interest paid-00001.15-
Interest received-00-0.02-0.390.06-
Income taxes paid (refund)44.7%1.681.470.620.010.02-
Other inflows (outflows) of cash--0.260-34.24-0.410-
Net Cashflows From Operating Activities117.4%2.77-9.17-8.050.331.35-
Proceeds from sales of PPE-00000.02-
Purchase of property, plant and equipment10.5%22201.2800-
Purchase of investment property-0000.20-
Cash receipts from repayment of advances and loans made to other parties-00001.54-
Interest received-48.7%0.420.61-0.020.390-
Income taxes paid (refund)-00000.02-
Other inflows (outflows) of cash-230.8%-12.33-3.03-35.834.580-
Net Cashflows From Investing Activities-48.1%-33.8-22.5-37.134.781.54-
Proceeds from issuing shares-102.5%0410210-
Proceeds from borrowings-8.4902900-
Repayments of borrowings-121.2%05.7203.855.31-
Interest paid-004.2700-
Other inflows (outflows) of cash1083.1%30-1.95-81.59-2.210-
Net Cashflows from Financing Activities18.8%3933-56.4915-5.31-
Net change in cash and cash eq.2616.7%7.521.24-101.6720-2.42-
Standalone figures (in Rs. Crores) /
Description(%) Q/QMar-2026Mar-2025Mar-2024Mar-2023Mar-2022Mar-2021
Finance costs-179.4%02.263.952.21.89-
Change in inventories0%-0.2-0.21.390.77-0.71-
Depreciation-115.9%07.297.067.066.92-
Adjustments for interest income--0.7800.0200.06-
Net Cashflows from Operations132.6%4.57-9.9631-0.362.29-
Interest received48.5%0-0.940-0.390-
Income taxes paid (refund)472.2%1.670.820.620.010-
Other inflows (outflows) of cash-00-34.83-0.410-
Net Cashflows From Operating Activities114.9%2.9-11.72-4.18-1.162.29-
Purchase of property, plant and equipment16.7%22190.5300.02-
Purchase of investment property-0000.20-
Cash receipts from repayment of advances and loans made to other parties-00001.54-
Interest received-266.7%0.780.9400.390.06-
Other inflows (outflows) of cash-399.3%-12.33-1.67-9.966.40-
Net Cashflows From Investing Activities-64.5%-33.44-19.93-10.496.591.58-
Proceeds from issuing shares-102.5%0410210-
Proceeds from borrowings-8.490-0.6300-
Repayments of borrowings-121.2%05.7203.855.33-
Interest paid-00001.15-
Other inflows (outflows) of cash989.6%30-2.26-3.95-2.20-
Net Cashflows from Financing Activities15.6%3833-4.5815-6.47-
Net change in cash and cash eq.11000%7.540.94-19.2420-2.61-

What does Indowind Energy Ltd. do?

Power Generation•Power•Small Cap

Indowind Energy Limited generates and distributes power through windmills in India. The company involved in setting up, operating, and maintaining wind farms. It also provides project and asset management; and value addition services, as well as trades in and sells carbon credits. It serves corporates and state utilities customers. Indowind Energy Limited was incorporated in 1995 and is based in Chennai, India.

Industry Group:Power
Employees:69
Website:www.indowind.co.in

Important Disclosure & Data Context

This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.