What is the size of the MoU?

It calls for Inox Wind to supply 1,500 MW of wind turbines from its 3.3 MW and 4X MW platforms to Inox Clean Energy.

Is this a binding order?

No, it is a non-binding memorandum of understanding. The implied contract value is several thousand crore rupees, but it is not yet a firm order.

How does this affect Inox Wind's order book?

Inox Wind had a firm order book of 3.1 GW. Including this MoU, the potential order book rises to around 4.6 GW.

Why is this MoU significant?

It is part of the INOXGFL Group's new 'One Integrated' renewable strategy. If converted, it would provide Inox Wind with multi-year revenue visibility and a material boost to its market cap of about ₹15,663 crore.

The MoU is non-binding and involves a related party. Execution risk exists, and the company recently missed its FY26 revenue guidance by ₹400 crore.

Electric Equipment · Mid cap

Inox Wind lands 1,500 MW group MoU, potential order book swells to 4.6 GW

The non-binding pact under the INOXGFL Group's integrated renewable strategy could add several thousand crore rupees to Inox Wind's pipeline. Execution risk remains as it involves a related party.

— 2 earlier stories on Inox Wind Ltd. →

INOXWIND By Tipsheet Editorial 16 Jun 2026 · 12:12 PM IST Verify on BSE · NSE

Mkt cap₹15,800 cr

P/E28.86×

ROE8.88%

Debt / eq.0.29

several thousand crore rupees Implied contract value of the 1,500 MW MoU

What's new

Inox Wind signed a non-binding MoU with group company Inox Clean Energy for 1,500 MW of wind turbines.
The MoU lifts potential order book from 3.1 GW to about 4.6 GW.
It follows the INOXGFL Group's new 'One Integrated' renewable strategy targeting 14 GW operational by FY29.

Why this matters

The MoU is quantitatively large, worth several thousand crore rupees, but non-binding and intra-group. If converted, it would more than double Inox Wind's firm order book and provide multi-year visibility. The group strategy gives it credibility, but execution and governance will be watched, especially after the company missed its own FY26 revenue guidance.

What we're watching

Timeline for converting the MoU into a binding order.
Any related-party transaction disclosures or scrutiny.
Inox Wind's ability to deliver against its existing order book and this potential addition.

The full read

Inox Wind has signed a non-binding MoU with group company Inox Clean Energy to supply 1,500 MW of wind turbines. The deal, part of the INOXGFL Group's 'One Integrated' renewable strategy, is worth several thousand crore rupees at typical turbine pricing. That is a material portion of Inox Wind's ₹15,663 cr market cap. It lifts the potential order book from 3.1 GW to about 4.6 GW, offering rare multi-year visibility for a company that just missed its own FY26 guidance (₹4,600 cr revenue vs ₹5,000 cr target). But non-binding group-party pacts come with execution risk. The MoU is a directional bet on the group's 14 GW renewable target by FY29. Whether it becomes real revenue is the open question.

Questions answered

What is the size of the MoU?: It calls for Inox Wind to supply 1,500 MW of wind turbines from its 3.3 MW and 4X MW platforms to Inox Clean Energy.
Is this a binding order?: No, it is a non-binding memorandum of understanding. The implied contract value is several thousand crore rupees, but it is not yet a firm order.
How does this affect Inox Wind's order book?: Inox Wind had a firm order book of 3.1 GW. Including this MoU, the potential order book rises to around 4.6 GW.
Why is this MoU significant?: It is part of the INOXGFL Group's new 'One Integrated' renewable strategy. If converted, it would provide Inox Wind with multi-year revenue visibility and a material boost to its market cap of about ₹15,663 crore.
What are the risks?: The MoU is non-binding and involves a related party. Execution risk exists, and the company recently missed its FY26 revenue guidance by ₹400 crore.

Mentioned: Inox Clean Energy · INOXGFL Group · 1,500 MW

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Inox Wind Ltd.

Engineering & Capital Goods

₹15,079 cr

P/E 37.23×

Latest quarter · Mar 2026

Sales₹1,244 cr

Net profit₹106 cr

Op. margin+16.0%

EPS₹0.53

Strength & growth

Debt / equity0.29×

Current ratio1.64×

Sales CAGR−0.1%

EPS CAGR−7.2%

Story so far

All notes on INOXWIND →

16 Jun 2026 · 12:12 PM IST Inox Wind lands 1,500 MW group MoU, potential order book swells to 4.6 GW
14d ago Inox Wind missed its own guidance. The transcript just confirms it.
18d ago Inox Wind missed its own guidance. Now it's betting big on a new playbook.