Inox Wind Q2 Net Profit Drops To ₹68.55 Crore; Targets ₹7,500 Crore FY28 Revenue

Market snapshot: Inox Wind reported a consolidated net profit of ₹68.55 crore for Q2, down from ₹121 crore in the corresponding prior-year period. Alongside earnings, the company withdrew its 75% FY27 revenue growth forecast and established a revenue target of ₹7,500 crore for FY28.

Data Snapshot

• Q2 consolidated net profit stood at ₹68.55 crore compared to ₹121 crore YoY
• FY28 revenue target established at ₹7,500 crore while removing the 75% FY27 revenue growth forecast

What's Changed

• Q2 net profit decreased to ₹68.55 crore from ₹121 crore in the year-ago period
• Management eliminated the 75% revenue growth forecast for FY27
• Longer-term top-line objective re-anchored to ₹7,500 crore for FY28

Key Takeaways

• Q2 consolidated net profit declined ~43% YoY to ₹68.55 crore.
• Near-term guidance expecting 75% revenue growth in FY27 has been withdrawn.
• Medium-term outlook now aims for a top-line revenue target of ₹7,500 crore by FY28.

SAHI Perspective

The withdrawal of the aggressive 75% growth target for FY27 suggests a recalibration of project delivery timelines and supply chain alignment. By re-anchoring expectations to ₹7,500 crore by FY28, management appears to be prioritizing realistic execution over short-term guidance targets.

Market Implications

Near-term market sentiment around the stock may reflect caution due to quarterly earnings compression and guidance resetting. Establishing a concrete ₹7,500 crore target for FY28 provides a clearer benchmark for monitoring execution performance.

Trading Signals

Market Bias: Bearish

Inox Wind's Q2 net profit fell ~43% YoY to ₹68.55 crore alongside a rollback of its 75% FY27 growth target. Although FY28 targets ₹7,500 crore, near-term momentum faces headwinds from lower quarterly profitability.

Overweight: Capital Goods - Renewable Infrastructure (Medium-Term)

Underweight: Wind Equipment Manufacturing (Near-Term)

Trigger Factors:

• Quarterly order execution metrics
• EBITDA margin stability
• Revenue trajectory following guidance revision

Time Horizon: Near-term (0-3 months)

Industry Context

India's renewable energy sector is scaling capacity to meet national green transition goals, with wind energy acting as a crucial complement to solar power. Execution constraints and supply chain timelines remain key determinants of quarterly revenue recognition for turbine manufacturers.

Key Risks to Watch

• Slower project execution impacting quarterly revenue realization
• Raw material cost fluctuations affecting component margins
• Grid connectivity delays for developer projects

Recent Developments

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Closing Insight

While quarterly net profit compression and guidance removal create near-term uncertainty, performance will depend on execution against the revised ₹7,500 crore FY28 revenue target.

High Performance Trading with SAHI.