Recent Price Movement and Market Context
On 5 December 2025, Inox Wind's share price touched Rs.128.7, the lowest level recorded in the past year. This decline comes after the stock experienced a three-day consecutive fall, resulting in a cumulative return of -3.56% over this period. The stock's performance today underperformed its sector by 1.12%, reflecting ongoing pressures within the Heavy Electrical Equipment industry.
Inox Wind is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a sustained downward trend. This contrasts with the broader market, where the Sensex recovered from an initial negative opening to close marginally higher by 0.03%, trading near its 52-week high of 86,159.02 points. The Sensex's positive momentum has been supported by mega-cap stocks and a bullish alignment of its 50-day and 200-day moving averages.
Comparative Performance Over One Year
Over the last twelve months, Inox Wind's stock price has declined by 37.44%, a stark contrast to the Sensex's gain of 4.31% and the BSE500's modest return of 1.54%. This divergence highlights the stock's relative weakness within the market and its sector. The 52-week high for Inox Wind was Rs.213.6, indicating a substantial reduction in market valuation over the year.
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Financial Metrics and Profitability Indicators
Inox Wind's financial profile reveals several factors contributing to its current market position. The company exhibits a Debt to EBITDA ratio of 3.12 times, indicating a relatively high level of leverage compared to its earnings before interest, taxes, depreciation, and amortisation. This ratio suggests constraints in the company's capacity to service its debt obligations efficiently.
Profitability metrics also reflect challenges. The average Return on Equity (ROE) stands at 2.29%, signalling limited profitability generated per unit of shareholders' funds. Additionally, the Price to Book Value ratio is 3.4, which is considered elevated relative to typical valuations, despite the stock trading at a discount compared to its peers' historical averages. The company’s ROE of 7.8% further underscores valuation considerations.
Growth and Operational Performance
Despite the stock's price decline, Inox Wind has demonstrated notable growth in key operational areas. Net sales have expanded at an annual rate of 45.68%, while operating profit has grown at 32.48% over the same period. The company reported a 53.26% increase in operating profit in its September 2025 quarter, marking a continuation of positive quarterly results for the eleventh consecutive period.
Operating cash flow for the year reached Rs.137.96 crores, the highest recorded, and the profit after tax (PAT) for the quarter stood at Rs.91.75 crores, reflecting a growth rate of 257.0%. The Return on Capital Employed (ROCE) for the half-year was 11.18%, the highest in recent periods, indicating efficient utilisation of capital resources.
Institutional Holdings and Market Position
Institutional investors hold 23.24% of Inox Wind's shares, representing a significant stake by entities with extensive analytical capabilities and resources. This level of institutional ownership may influence the stock's trading dynamics and reflects a degree of confidence in the company's fundamentals despite recent price movements.
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Summary of Key Factors Affecting Inox Wind's Stock Price
The stock's decline to Rs.128.7 reflects a combination of factors including its relative underperformance against the Sensex and sector indices, trading below all major moving averages, and financial metrics indicating elevated leverage and modest profitability. While operational growth in sales and profits has been recorded, these have not translated into positive stock price momentum over the past year.
Inox Wind's market capitalisation grade is modest, and the stock's valuation metrics suggest a complex balance between growth prospects and current financial structure. The broader market environment, with the Sensex trading near its 52-week high and supported by mega-cap stocks, contrasts with the stock's downward trajectory.
Investors and market participants observing Inox Wind will note the divergence between operational performance and market valuation, as well as the stock's position relative to key technical indicators.
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