Indowind Energy Limited (INDOWIND.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-65.2%

₹2.85

vs ₹8.20 price

Levered DCF

-₹31.00

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	284,168.83×	172.24×	30.63×	-5.14×	1,075.35×	154.42×	274.14×	-4.25×
P/B	0.37×	0.78×	0.93×	0.43×	0.59×	0.15×	0.07×	0.26×
P/S	2.82×	6.49×	5.58×	2.91×	5.58×	1.81×	0.69×	2.37×
EV / EBITDA	8.35×	17.38×	16.39×	16.92×	21.37×	7.77×	7.03×	22.75×
Gross margin	61.5%	50.9%	58.4%	60.0%	49.7%	75.0%	65.2%	66.7%
Operating margin	9.8%	9.4%	27.4%	20.6%	-0.6%	1.6%	-3.7%	3.6%
Net margin	0.0%	3.8%	18.3%	-56.7%	0.5%	1.2%	0.3%	-55.8%
Current ratio	20.69×	4.16×	0.8×	0.94×	0.37×	3.66×	2.01×	1.88×
Debt / equity	0.03×	0.02×	0.23×	0.26×	0.24×	0.27×	0.45×	0.51×
Interest coverage	1.35×	1.62×	2.55×	3.18×	-0.08×	0.14×	-0.15×	0.11×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.0%	0.5%	3.1%	-8.4%	0.1%	0.1%	0.0%	-6.1%
Return on invested capital	0.0%	0.4%	4.0%	2.3%	-0.0%	0.1%	-0.2%	0.3%
Return on assets	0.0%	0.4%	2.3%	-6.1%	0.0%	0.1%	0.0%	-4.1%
Free cash flow yield	-19.0%	-14.1%	-4.2%	0.1%	1.0%	17.0%	46.3%	10.2%
Earnings yield	0.0%	0.6%	3.3%	-19.5%	0.1%	0.7%	0.4%	-23.5%
Enterprise value	₹1B	₹2.2B	₹2.8B	₹1.4B	₹1.9B	₹903.6M	₹1B	₹1.5B
Net debt / EBITDA	-0.99×	0.45×	3.25×	4.73×	6.08×	4.87×	6.06×	14.99×
Cash conversion cycle (days)	42	68	112	135	231	422	-23	105