Indowind Energy Limited (IN:INDOWIND)
:INDOWIND
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Indowind Energy Limited
(INDOWIND)
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Rating:51Neutral
Price Target:
₹10.00
▼(-37.19% Downside)
Action:Reiterated
Date:05/28/26
The score is driven primarily by mixed financial performance: balance sheet strength from significant deleveraging is offset by weak and unreliable cash flows and inconsistent net income. Technicals are slightly negative with price below key longer-term moving averages, and valuation cannot be supported given the non-meaningful P/E (0.0) and missing dividend yield.
Positive Factors
Deleveraged balance sheet
Sharp deleveraging to a ~0.03 debt-to-equity in FY2026 materially lowers financial risk. This stronger capital structure increases solvency, reduces interest burden, and gives management durable strategic optionality for maintenance capex, refinancing, or selective growth without immediate liquidity strain.
Negative Factors
Weak cash generation
Persistently negative free cash flow and inconsistent operating cash flow reduce internal funding capacity for maintenance and growth. Ongoing cash burn raises reliance on external financing or asset sales, constraining reinvestment and increasing execution risk for sustaining generation and long-term returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraged balance sheet
Sharp deleveraging to a ~0.03 debt-to-equity in FY2026 materially lowers financial risk. This stronger capital structure increases solvency, reduces interest burden, and gives management durable strategic optionality for maintenance capex, refinancing, or selective growth without immediate liquidity strain.
Read all positive factors
Indowind Energy Limited (INDOWIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.47B
Dividend YieldN/A
Average Volume (3M)25.55K
Price to Earnings (P/E)300629.8
Beta (1Y)1.67
Revenue Growth27.86%
EPS Growth-3.33%
CountryIN
Employees69
SectorEnergy
Sector Strength52
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.19
Shares Outstanding161,002,170
10 Day Avg. Volume27,871
30 Day Avg. Volume25,550
Financial Highlights & Ratios
PEG Ratio-2.84K
Price to Book (P/B)0.37
Price to Sales (P/S)2.82
P/FCF Ratio-5.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indowind Energy Limited Business Overview & Revenue Model
Company Description
Indowind Energy Limited functions as a prominent independent power producer (IPP) within India's renewable energy landscape. Its core operations encompass the entire lifecycle of wind farm development, from initial planning and construction to lon...
How the Company Makes Money
Indowind Energy Limited primarily makes money by generating electricity from its wind power assets and selling that electricity to customers (such as utilities/discoms or other eligible buyers) under power sale agreements or market-based mechanism...
Indowind Energy Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
78
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 421.88M | 403.31M | 335.13M | 397.06M | 339.56M | 245.56M |
| Gross Profit | 264.35M | 241.31M | 170.74M | 231.99M | 203.90M | 122.06M |
| EBITDA | 165.54M | 145.10M | 128.42M | 168.59M | 80.25M | 89.63M |
| Net Income | 22.86M | 4.00K | 12.63M | 72.64M | -192.59M | 1.27M |
Balance Sheet | ||||||
| Total Assets | 3.24B | 3.48B | 3.05B | 3.12B | 3.13B | 2.88B |
| Cash, Cash Equivalents and Short-Term Investments | 17.99M | 215.71M | 46.63M | 4.78M | 217.62M | 15.93M |
| Total Debt | 180.27M | 95.34M | 69.66M | 551.89M | 600.52M | 560.57M |
| Total Liabilities | 372.54M | 395.97M | 257.86M | 745.01M | 824.77M | 570.78M |
| Stockholders Equity | 2.86B | 3.07B | 2.79B | 2.37B | 2.30B | 2.30B |
Cash Flow | ||||||
| Free Cash Flow | -32.32M | -215.57M | -305.81M | -93.29M | 1.29M | 14.13M |
| Operating Cash Flow | -32.32M | 3.30M | -105.04M | -80.53M | 3.25M | 14.13M |
| Investing Cash Flow | -19.33M | -342.21M | -231.05M | 439.63M | 47.78M | 26.27M |
| Financing Cash Flow | 52.48M | 414.13M | 348.48M | -571.94M | 150.66M | -64.57M |
Indowind Energy Limited Technical Analysis
Negative
15.92
Price Trends
9.89
Negative
9.97
Negative
12.87
Negative
Market Momentum
-0.19
Positive
40.46
Neutral
48.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOWIND, the sentiment is Negative. The current price of 15.92 is above the 20-day moving average (MA) of 9.47, above the 50-day MA of 9.89, and above the 200-day MA of 12.87, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 40.46 is Neutral, neither overbought nor oversold. The STOCH value of 48.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDOWIND.
Indowind Energy Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹813.28B | 25.42 | ― | ― | 53.65% | 51.79% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | ₹81.02B | 16.63 | ― | 0.20% | 55.34% | 45.62% | |
59 Neutral | ₹80.08B | 74.57 | ― | ― | 24.19% | 382.18% | |
55 Neutral | ₹463.03M | 46.39 | ― | ― | 12.13% | -32.63% | |
54 Neutral | ₹197.13B | 32.89 | ― | ― | 23.61% | -20.82% | |
51 Neutral | ₹1.47B | 300,629.81 | ― | ― | 27.86% | -3.33% |
* Energy Sector Average
IN:INDOWIND
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Indowind Energy Limited Corporate Events
Indowind Energy Attributes Share Price Volatility to Market Forces
Apr 25, 2026
Indowind Energy said recent sharp movements in its share price are purely market-driven and not linked to any undisclosed corporate developments. The company stated it has complied with all disclosure norms, has no unpublished price-sensitive info...
Exchange Seeks Clarification From Indowind Energy After Sharp Stock Move
Apr 24, 2026
The stock price of Indowind Energy Limited has shown significant movement, prompting the stock exchange to seek updated and relevant information from the company. The exchange aims to safeguard investor interests and ensure an informed marketplace...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.