Annual Report of the Company for the Financial Year 2025-26

IWL: NOI: 2026 3rd September, 2026 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (E) Mumbai 400 001 Mumbai 400 051 Scrip code: 539083 Scrip code: INOXWIND Sub: Annual Report of the Company for the Financial Year 2025-26 Dear Sir/Madam, The 17th Annual General Meeting (‘AGM’) of Inox Wind Limited (the ‘Company’) is scheduled to be held on Friday, 25th September, 2026 at 3.00 P.M. (IST) through Video Conferencing/ Other Audio-Visual Means (‘VC/OAVM’). Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the copy of the Annual Report for the Financial Year 2025-26, inter- alia, containing the Notice of the AGM. The same is also available on the Company’s website at https://inoxwind.com and is being dispatched today to all the eligible shareholders whose e-mail Ids are registered with the Company/ Depositories. Further, a physical letter providing the web-link, including the exact path, where complete details of the Annual Report is available, have been sent to those shareholder(s) whose e-mail ids were not registered. The Company is providing to its Members the facility to exercise their right to vote on the resolutions proposed to be passed at the AGM by electronic means. Only a person whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the Cut-off date i.e., Friday, 18th September, 2026, shall be entitled to avail the e-Voting facility. The remote e-Voting facility commences on Tuesday, 22nd September, 2026 from 9.00 A.M. (IST) and will end on Thursday, 24th September, 2026 at 5.00 P.M. (IST). We request you to kindly take the same on record. Thanking You Yours faithfully, For Inox Wind Limited Deepak Banga Company Secretary Encl.: As above An Company GROUP BEYOND INFI NIT Y Winds of Change, Wings of Growth Annual Report 2025-26 Contents Harnessing Every Chapter Corporate Overview Statutory Reports 02 About INOXGFL Group 78 Management Discussion & Analysis 04 About INOX Wind 91 Notice 06 Our Products and Services 128 Board’s Report 08 Executive Director’s Message 157 Corporate Governance Report 10 Group CEO’s Message Business Responsibility and 12 Highlights Sustainability Report (BRSR) 14 Our Competitive Edge 211 Assurance Report on BRSR Core 16 Geographical Presence and Order Book Details 18 Business Environment Financial Statements 20 Board of Directors 215 Standalone Financial Statements 22 Corporate Information 302 Consolidated Financial Statements Environment, Social and Governance (ESG) Report FY26 marks another important step in As the renewable energy landscape our evolution. Strengthened operational gathers pace, new possibilities are readiness, a growing order pipeline, emerging across markets, technologies next-generation turbine platform and and partnerships. We are embracing Forward-looking statements To know more about the an expanding evacuation infrastructure this changing environment with agility, company, Some information in this report may contain forward-looking portfolio have enhanced our ability to investing in capabilities that expand our statements which include statements regarding Company’s log on to expected financial position and results of operations, deliver with greater scale, speed and reach, deepen our resilience and create www.inoxwind.com business plans and prospects etc. and are generally identified by forward-looking words such as “believe,” reliability. Each milestone reinforces our lasting value for every stakeholder. “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words. Forward-looking statements confidence to move higher, supported Guided by the strength of the INOXGFL are dependent on assumptions or basis underlying such statements. We have chosen these assumptions or basis by disciplined execution, engineering Group and inspired by India’s clean in good faith, and we believe that they are reasonable in all material respects. However, we caution that actual results, excellence and an unwavering focus on energy aspirations, we remain focused performances or achievements could differ materially from those expressed or implied in such forward-looking customer success. on transforming opportunities into statements. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new measurable outcomes. information, future events, or otherwise. Annual Report 2025-26 Statutory Reports Financial Statements Corporate Overview About INOXGFL Group Transforming India’s Energy Horizon, Integrated Business Ecosystem Our diversified business portfolio enables us to leverage complementary capabilities Value Chain Ribbon Scaling New Heights across advanced materials and renewable energy, strengthening our ability to deliver a comprehensive range and multitude of integrated solutions, driving both operational synergies and maintaining long-term stakeholder value. Advanced Materials INOXGFL Group has emerged as a diversified Indian Chemicals conglomerate with businesses across specialty chemicals and renewable energy, with its legacy and expertise spanning over nine decades. Renewable Gujarat Fluorochemicals GFCL EV Products Limited Equipment Limited manufacturing Through its listed entities and integrated The Group comprises manufacturing business ecosystem, the Group operates capabilities, technology-driven across fluorochemicals, battery materials, innovation and integrated execution for renewable power solutions, clean accomplishing operational excellence energy infrastructure, renewable power across the renewable energy value chain. Renewable generation and solar cell and module Its businesses collectively contribute to Energy manufacturing, bolstering India's industrial the development of wind, solar, battery GFCL Solar and Green Project and energy transition. and advanced materials solutions that aid Hydrogen Products Limited Development sustainable growth. Engineering, Key Performance Highlights for FY 2026 Procurement Renewables and Construction 90+ 9,393 (EPC) and Crores evacuation Years of Legacy Total Group Revenue as on infrastructure 31st March, 2026 INOX Wind Limited INOX Clean Energy J Limited 71,207 3 Operations Crores and Market Capitalisation of Listed Companies on BSE and Maintenance Listed Companies as on NSE (O&M) 20th August,2026 INOX Green Energy INOX Neo Energies Services Limited Limited 6,400+ Clean Power Employees Across the Group Generation INOX Renewable INOX Solar Limited Solutions Limited INOX Wind Limited 02 An INOXGFL Group Company 03 Annual Report 2025-26 Statutory Reports Financial Statements Corporate Overview About INOX Wind Accelerating India’s Energy Transition, Building Momentum We are one of India’s leading integrated wind energy solutions providers, delivering end-to-end capabilities across the wind power value chain. Our offerings encompass wind turbine manufacturing, renewable infrastructure development (wind, solar, BESS), EPC, and O&M, thereby, supporting our customers throughout the lifecycle of a renewable energy project. Our Integrated Business Model We are one of the most integrated players in India in the energy transition space. INOX Wind’s integrated business model includes manufacturing, project development, EPC, and O&M to deliver end-to-end renewable energy solutions (including wind, solar, BESS). Each stage of the value chain optimises operational synergies and project delivery and support enduring and sustainable value for our customers through a seamless and scalable business ecosystem. Wind Turbine Manufacturing Engineering, Procurement and 24x7 Construction (EPC) We manufacture wind turbine Monitoring and Service Support generators and key components Our services include turnkey EPC designed for diverse wind regim [Showing first 8,000 characters — download PDF for full document]