Shares of Inox Wind Ltd, a key player in the green energy sector and peer to Suzlon Energy, are currently trading close to their 52-week low. The renewable energy stock hit a 52-week low of Rs 68.04 on September 2, 2026, reflecting a significant downtrend. The stock has plummeted by 67% over the past two years and 50% in the last year alone, consistently trading below its various moving averages.
Q1 Earnings Report Reveals Weakness
The recent downturn in Inox Wind's stock price is largely attributed to its disappointing first-quarter earnings. The company reported a 34.2% fall in consolidated net profit, dropping to Rs 64.1 crore in Q1 from Rs 97.3 crore in the corresponding period last year. Revenue from operations also saw a slight decline of 1.5%, settling at Rs 814.1 crore compared to Rs 826.3 crore a year earlier.
Furthermore, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased by 17% year-on-year to Rs 152.5 crore from Rs 183.7 crore. This resulted in a narrowed EBITDA margin, falling to 18.7% from 22.2% in the previous year's first quarter. Profit booking activities have also contributed to the negative sentiment surrounding the stock.
Expert Analysts Predict Further Downside
Several market experts have weighed in on Inox Wind's outlook, largely maintaining a cautious to bearish stance:
- Jigar S Patel from Anand Rathi noted,
"Support is placed at Rs 68, while resistance stands at Rs 75. A decisive breakout above Rs 75 could open the door for further upside towards Rs 80. For the short term, the stock is expected to trade within the Rs 68-80 range."
- Virat Jagad, Sr. Technical Research Analyst at Bonanza, highlighted the persistent downtrend:
"Inox Wind remains in a strong downtrend, trading below all major EMAs with persistent lower-high/lower-low formation. RSI is near 35, showing weak momentum. Avoid fresh buying; Rs 70 is immediate support, while a break below Rs 70 can lead towards Rs 65–60."
- Shitij Gandhi, AVP - Equity Technical Research at SMC Global Securities, elaborated on the technical picture:
"Inox Wind remains in a broader downtrend, with price moving within a well-defined descending channel marked by lower highs and lower lows. The recent rebound from the channel’s lower boundary indicates tentative buying interest, but the broader structure remains cautious. Only sustained trade above the falling trendline around Rs 77 level could signal an early trend reversal, while failure may resume the decline. Immediate resistance is placed near 74.5, followed by 78.5 and the 81–82 zone. On the downside, Rs 70–69 forms immediate trendline support, while the channel’s lower boundary lies near Rs 67–68. A decisive breakout above Rs 77-78 would strengthen the bullish setup and improve the recovery outlook."
About Inox Wind Limited
Inox Wind Limited (IWL) is a prominent Indian provider of wind energy solutions, serving independent power producers (IPPs), utilities, public sector undertakings (PSUs), and corporate investors. IWL is part of the US$12 billion INOXGFL Group, a conglomerate with over nine decades of history, primarily focused on chemicals and renewable energy business verticals.