Indowind Energy Limited (INDOWIND)

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Indowind Energy Limited (INDOWIND) · mywealthgrid

About

Indowind Energy Limited generates power in India's utilities sector. Market cap ₹140.71 Cr places it small-cap. Quarterly revenues ₹4–17 Cr show modest operational scale.

Face value: ₹10

Market cap

₹136 Cr

P/E

—

P/B

0.4×

Dividend yield

ROE

ROCE

2.1%

Debt / equity

0.03

OPM

36%

EPS (TTM)

₹-0.0

Book value

₹19.1

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Mar 2026 losses: -₹6.34 Cr and -₹7.46 Cr net profit, OPM -14.85% and -39.96%—undermine earnings credibility.
Stock fell -48.65% over 1y (₹18.05 to ₹7.06 range). ROE 0%, PE n/a signal earnings strain, weak investor confidence.
Revenue ₹4–17 Cr per quarter (4× variance), OPM -40% to +66%: operational instability or contract-mix challenges—verify drivers.
FII 0.02%, DII 0%: minimal institutional ownership. Verify if liquidity concern or fundamental issue.

Generated analysis · source review pending

Growth drivers

Sep 2025 peak ₹17.55 Cr revenue, ₹4.58 Cr profit, 58.86% OPM—7× current valuation if sustained. Verify if one-off or recurring.
Jun 2026 recovery ₹2.11 Cr profit, 52.41% OPM after Mar loss of -₹7.46 Cr. If normalized, ₹8–17 Cr revenue × 50%+ OPM = ₹4–9 Cr profit. Verify margin sustainability.
D/E 0.03 leaves capex room in capital-intensive sector. Verify growth plans vs cash harvesting.

Generated analysis · source review pending

2,526 historical price candles were omitted because the exchange source has not been verified.

₹8.4-4.7%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 36%
+Revenue CAGR of 16.7% over the last 5 years
+Almost debt-free (debt/equity 0)

Cons

−Low return on equity of 1.2% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

46/100

Business quality: 42
Growth: 8
Valuation: 88

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	26	22	25	19	25	34	40	34	40
COGS	9	8	11	4	12	0	16	-0	-0
Gross profit	18	14	14	14	12	34	24	—	—
	7	8	5	5	6	20	8	23	26
	11	6	8	10	7	14	16	11	15
OPM %	40.9%	28%	33.7%	51.4%	26.6%	41.2%	39.9%	31.5%	36%
Depreciation	10	9	9	9	7	7	7	7	8
Interest	8	7	5	2	2	2	4	2	3
	-17	6	6	2	2	-6	1	2	-2
Profit before tax	-24	—	0	0	0	-1	6	4	1
Tax	-3	0	0	0	0	18	-2	2	1
Tax %	-11.2%	—	14.3%	15.4%	13.3%	1,560.3%	-30.8%	63.8%	100%
	-21	-12	0	0	0	-19	7	1	0
PAT margin %	-80.2%	-55.8%	0.2%	1.2%	0.5%	-56.7%	18.3%	3.8%	0%
EPS (₹)	-2.3	-1.4	0	0	0.2	-2.2	0.7	0.1	0
EPS adjusted (₹)	—	-1.4	0	0	0	-1.8	0.7	0.1	0
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	90	90	90	90	107	107	129	161
Reserves	111	111	140	141	123	130	150	146
Minority interest	—	—	—	1	1	1	1	1
	92	88	61	—	60	55	7	10
	10	5	2	57	22	19	19	30
Total equity & liabilities	302	294	292	288	313	312	305	348
	257	255	246	—	159	236	247	244
CWIP	0	0	1	—	1	1	1	12
Investments	10	10	10	—	0	0	0	0
	34	29	35	288	153	76	58	91
Total assets	302	294	292	288	313	312	305	348

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65.2%	55.1%	76%	50.6%	99%	60.4%	—	—
EBITDA margin %	28%	33.7%	51.4%	26.6%	41.2%	39.9%	31.5%	36%
EBIT margin %	-14.4%	-3.9%	1.3%	-1.6%	20.6%	22%	9.4%	15.6%
PAT margin %	-55.8%	0.2%	1.2%	0.5%	-56.7%	18.3%	3.8%	0%
Working capital
Receivable days	96	69	100	—	88	77	59	35
Inventory days	35	10	439	135	4,630	91	25	25
Payable days	27	79	105	—	0	54	19	20
NWC days	104	1	435	—	4,718	114	65	39
Leverage
Current ratio	1.88	2.05	3.66	0.37	0.94	0.8	4.16	25.59
Debt to EBITDA	14.99	10.57	6.34	—	4.29	3.48	0.66	0.66
Debt to equity	0.46	0.44	0.26	—	0.26	0.23	0.02	0.03
Interest coverage	-0.4	-0.1	1.1	1.1	3.6	2.6	2.8	2.3
Asset turnover	0.07	0.08	0.06	0.09	0.11	0.13	0.11	0.12
Return ratios
Return on assets %	-4.1%	0%	0.1%	0%	-6.1%	2.3%	0.4%	0%
Return on capital employed %	-0.9%	-0.1%	0.8%	0.8%	3.2%	4%	1.9%	2.1%
Return on equity %	-6.1%	0%	0.1%	0.1%	-8.4%	3.1%	0.5%	0%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.76%	50.76%	50.76%	50.76%	47.16%	47.16%	47.16%	47.16%	47.16%	47.82%	48.2%	48.2%
	0.02%	0%	0%	0.24%	0.01%	0.03%	0.02%	0.01%	0.05%	0%	0%	0.02%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	49.22%	49.24%	49.24%	49%	52.83%	52.81%	52.82%	52.83%	52.79%	52.18%	51.8%	51.78%
No. of shareholders	—	—	—	—	—	—	—	—	1,10,335	1,08,788	1,08,279	1,08,322

Promoter holding down 2.56 percentage points since Sep 2023.

19 deals · 24 Aug 2021 – 30 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Jun 2026	INDUS CAPITAL PRIVATE LIMITED	Bulk	NSE	Buy	22,78,711	₹9.22	₹2.10 Cr
30 Jun 2026	INDUS FINANCE CORPORATION LTD	Bulk	NSE	Sell	20,00,000	₹9.20	₹1.84 Cr
13 Mar 2026	MANOJ H MEHTA (HUF)	Bulk	NSE	Sell	8,14,199	₹8.40	₹0.68 Cr
14 Jan 2026	SKA ASSET SOLUTIONS LLP	Bulk	NSE	Buy	8,71,768	₹16.38	₹1.43 Cr
14 Jan 2026	SKA ASSET SOLUTIONS LLP	Bulk	NSE	Sell	7,10,630	₹16.83	₹1.20 Cr
19 Dec 2025	VAIBHAV RAJENDRA DOSHI	Bulk	NSE	Buy	7,21,381	₹14.94	₹1.08 Cr
19 Dec 2025	VAIBHAV RAJENDRA DOSHI	Bulk	NSE	Sell	5,21,546	₹14.43	₹0.75 Cr
28 Nov 2025	VAIBHAV RAJENDRA DOSHI	Bulk	NSE	Buy	11,10,946	₹17.77	₹1.97 Cr
28 Nov 2025	VAIBHAV RAJENDRA DOSHI	Bulk	NSE	Sell	4,81,320	₹17.25	₹0.83 Cr
26 Mar 2025	INDUS FINANCE CORPORATION LIMITED	Bulk	BSE	Sell	10,00,000	₹16.51	₹1.65 Cr

1–10 of 19

1 / 2

Mr. N.K. HARIBABUExecutive Director-Chairperson
Mr. K.S RAVINDRANATHExecutive Director
Mr. B R BASKARANNon-Executive - Independent Director
Mr. K R SHYAMSUNDARNon-Executive - Independent Director
Mr. R. SRIDHARNon-Executive - Independent Director
Ms. SANGEETHA HARILAL LAKHINon-Executive - Independent Director

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Indowind Energy Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results13 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

9 announcementsExport CSV

10 Jul 2026, 1:03 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	65.2%	55.1%	76%	50.6%	99%	60.4%	—	—
EBITDA margin %	28%	33.7%	51.4%	26.6%	41.2%	39.9%	31.5%	36%
EBIT margin %	-14.4%	-3.9%	1.3%	-1.6%	20.6%	22%	9.4%	15.6%
PAT margin %	-55.8%	0.2%	1.2%	0.5%	-56.7%	18.3%	3.8%	0%
Working capital
Receivable days	96	69	100	—	88	77	59	35
Inventory days	35	10	439	135	4,630	91	25	25
Payable days	27	79	105	—	0	54	19	20
NWC days	104	1	435	—	4,718	114	65	39
Leverage
Current ratio	1.88	2.05	3.66	0.37	0.94	0.8	4.16	25.59
Debt to EBITDA	14.99	10.57	6.34	—	4.29	3.48	0.66	0.66
Debt to equity	0.46	0.44	0.26	—	0.26	0.23	0.02	0.03
Interest coverage	-0.4	-0.1	1.1	1.1	3.6	2.6	2.8	2.3
Asset turnover	0.07	0.08	0.06	0.09	0.11	0.13	0.11	0.12
Return ratios
Return on assets %	-4.1%	0%	0.1%	0%	-6.1%	2.3%	0.4%	0%
Return on capital employed %	-0.9%	-0.1%	0.8%	0.8%	3.2%	4%	1.9%	2.1%
Return on equity %	-6.1%	0%	0.1%	0.1%	-8.4%	3.1%	0.5%	0%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jsw Energy LimitedJSWENERGYJSWENERGY	₹88,925 Cr	₹1,64,771 Cr	₹18,965 Cr	₹10,149 Cr	53.3%	₹1,967 Cr	14.6%	8.6%	7.7%	28
Ntpc Green Energy LimitedNTPCGREENNTPCGREEN	₹76,755 Cr	₹1,06,013 Cr	₹3,285 Cr	₹2,860 Cr	86.6%	₹607 Cr	18.2%	3.3%	2.8%	-32
Nhpc LimitedNHPCNHPC	₹72,073 Cr	₹1,24,207 Cr	₹12,210 Cr	₹5,787 Cr	45.1%	₹3,797 Cr	36.3%	4.4%	9.3%	77
Nlc India LimitedNLCINDIANLCINDIA	₹35,109 Cr	₹62,911 Cr	₹18,381 Cr	₹6,125 Cr	32%	₹3,367 Cr	21.6%	8.2%	17.5%	171
Acme Solar Holdings LimitedACMESOLARACMESOLAR	₹30,577 Cr	₹49,565 Cr	₹2,370 Cr	₹2,058 Cr	88%	₹603 Cr	24.6%	8.5%	10.4%	63
Sjvn LimitedSJVNSJVN	₹22,757 Cr	₹54,860 Cr	₹5,005 Cr	₹3,492 Cr	74%	₹639 Cr	14.2%	5.9%	4.5%	100
Nava LimitedNAVANAVA	₹15,652 Cr	₹17,873 Cr	₹4,310 Cr	₹1,656 Cr	40%	₹756 Cr	24.2%	12.5%	9.6%	178
Juniper Green Energy LimitedJNPRJNPR	₹15,263 Cr	₹28,184 Cr	₹719 Cr	₹606 Cr	84.3%	₹40 Cr	5.6%	—	1.2%	—
Clean Max Enviro Energy Solutions LimitedCLEANMAXCLEANMAX	₹15,234 Cr	₹27,644 Cr	₹1,913 Cr	₹1,132 Cr	59.2%	₹94 Cr	4.5%	6.4%	2.6%	-1,192
Vedanta Power LimitedVEDPOWERVEDPOWER	₹12,814 Cr	₹18,646 Cr	₹5,453 Cr	₹1,040 Cr	19.1%	₹-1,713 Cr	-31.4%	11%	-88.4%	76
Jaiprakash Power Ventures LimitedJPPOWERJPPOWER	₹10,143 Cr	₹13,523 Cr	₹5,756 Cr	₹1,525 Cr	24.6%	₹641 Cr	8.1%	6.9%	3.6%	93
Reliance Power LimitedRPOWERRPOWER	₹8,028 Cr	₹22,840 Cr	₹7,690 Cr	₹2,361 Cr	31%	₹-319 Cr	-4.4%	6.1%	-2.1%	139

Date	Category	Subject	Filing
10 Jul 2026, 1:03 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	10	-3	1	0	-8	-9	3
	2	1	6	2	5	-37	-23	-34
	-7	-9	-1	-5	15	-56	33	39
Net cash flow	-0	1	2	-2	20	-102	1	8
Free cash flow	—	—	-8	1	0	-9	-29	-19
CFO / Operating profit %	86.7%	117.2%	-31.6%	20.7%	2.4%	-50.8%	-86.9%	19.1%

Indowind Energy Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

Announcements

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Compounded sales growth

Return on equity

Indowind Energy Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

1

1