Stock Price Movement and Market Context
On 20 Feb 2026, Indowind Energy Ltd’s share price declined to Rs.9.66, marking its lowest level in the past year. Despite a modest gain of 0.58% on the day, the stock remains significantly below its 52-week high of Rs.23.69. The stock has been trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a persistent downtrend.
Over the last two trading sessions, the stock has recorded consecutive gains, accumulating a 1.26% return, yet this has not been sufficient to offset the broader decline over the year. The one-year performance of Indowind Energy Ltd stands at a negative 42.25%, starkly contrasting with the Sensex’s positive 9.38% return over the same period.
Sector and Market Overview
The broader market environment has been relatively positive. The Sensex recovered sharply after a negative opening, closing at 82,842.90, up 0.42% on the day and just 4% shy of its 52-week high of 86,159.02. Mega-cap stocks have been leading the market gains, while the Sensex trades below its 50-day moving average, which itself remains above the 200-day moving average, signalling mixed technical signals for the broader market.
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Financial Performance and Profitability Concerns
Indowind Energy Ltd’s financial results have been underwhelming. The company reported flat results for the quarter ending December 2025. Interest expenses for the nine months stood at Rs.2.83 crores, representing an 87.42% increase year-on-year. Profit before tax excluding other income for the quarter was a loss of Rs.1.62 crores, a deterioration of 305.00%. Net profit after tax for the quarter was a loss of Rs.1.25 crores, a steep decline of 6350.0% compared to the previous period.
The company’s return on equity (ROE) remains low at 0.8%, while the price-to-book value ratio is 0.6, indicating a valuation that is expensive relative to its earnings and asset base. Over the past year, profits have fallen by 84.9%, further highlighting the financial strain.
Long-Term Growth and Debt Servicing Challenges
Indowind Energy’s long-term growth has been modest, with net sales growing at an annual rate of 13.45% over the last five years. However, the company’s ability to service its debt is weak, as reflected by an average EBIT to interest ratio of 1.98, signalling limited earnings coverage for interest obligations.
Additionally, promoter shareholding dynamics have added pressure. Currently, 28.58% of promoter shares are pledged, and this proportion has increased by the same percentage over the last quarter. High pledged shares can exert downward pressure on stock prices, especially in declining markets.
Comparative Performance and Market Position
Indowind Energy Ltd has underperformed not only the Sensex but also the BSE500 index over multiple time frames, including the last three years, one year, and three months. This underperformance reflects challenges in both near-term and long-term operational and financial metrics.
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Mojo Score and Market Sentiment
Indowind Energy Ltd currently holds a Mojo Score of 16.0, with a Mojo Grade of Strong Sell as of 30 Jan 2026, an upgrade from the previous Sell rating. The market capitalisation grade stands at 4, reflecting the company’s relatively small size within the sector. The Strong Sell grade underscores the prevailing market sentiment and the challenges faced by the company in reversing its downward trajectory.
Summary of Key Metrics
To summarise, Indowind Energy Ltd’s stock has declined to Rs.9.66, its lowest level in 52 weeks, amid a backdrop of weak profitability, rising interest costs, and subdued growth. The stock’s valuation metrics and financial ratios indicate a company under pressure, with limited earnings coverage and a high proportion of pledged promoter shares adding to market concerns.
While the broader market and power sector have shown resilience, Indowind Energy’s performance remains below par, reflecting the company’s ongoing challenges in both financial and operational dimensions.
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