Key Metrics of Beta Wind Farm Private Limited
About Beta Wind Farm Private Limited
Sectors
Company details
Operational Areas of Beta Wind Farm Private Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 08 Sep 2026 | ICRA | Assigned | BBB | — | Stable | ₹510 Cr | View |
| 07 Apr 2023 | CARE | Reaffirmed | B+ | — | Stable | — | View |
| 09 Nov 2022 | CARE | Assigned (from D) | B+ | — | Stable | ₹1,504 Cr | View |
| 17 Feb 2022 | CARE | Reaffirmed | D | — | — | ₹805 Cr | View |
| 01 Mar 2021 | CARE | Reaffirmed | D | — | — | ₹904 Cr | View |
| 06 Jan 2020 | CARE | Other | — | — | — | — | View |
| 04 Apr 2019 | CARE | Other | — | — | — | — | View |
| 22 Mar 2019 | CARE | Reaffirmed | D | — | — | ₹928 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Revenue visibility with long-term PPA for majority of capacity
BWFPL derives revenue visibility from its long -term PPAs with a diversified set of C&I consumers and state distribution utilities.
+ Long operational track record with improving operating performance
The company benefits from the long operational track record of over 10 years.
Credit challenges
− Moderate debt servicing metrics over the medium term owing to concentrated repayment obligations
BWFPL's debt servicing metrics remain moderate owing to the concentration of debt repayment obligations, with around 49% of the outstanding debt scheduled for repayment over the next three fiscals.
− Cash flows exposed to generation risk
The company's cash flows remain exposed to generation risk, given the inherent variability in wind resource availability and seasonality, particularly due to the single-part fixed tariff structure under the PPAs.
Could lead to an upgrade
A healthy generation performance along with timely payments from the offtaker leading to comfortable debt coverage metrics could lead to a rating upgrade.
Could lead to a downgrade
Pressure on the rating could arise, in case under-performance in generation weakens the cumulative debt service coverage ratio (DSCR) to less than 1.1 times. Also, delays in payments from the offtaker, weakening
Agency-reported financials (ICRA, 08 Sep 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹175 Cr | ₹197 Cr |
| PAT | ₹5.80 Cr | ₹37.50 Cr |
| OPBDIT/OI | 70.1% | 65.6% |
| PAT/OI | 3.3% | 19.1% |
| Total outside liabilities/Tangible net worth (times)* | -14.30× | -21.50× |
| Total debt/OPBDIT (times)* | 11.80× | 10.60× |
| Interest coverage (times) | 1.80× | 2.30× |
| Revenue growth (YoY) | — | 12.3% |
| EBITDA (margin × income) | ₹123 Cr | ₹129 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹1,448 Cr | ₹1,367 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹68.16 Cr | ₹56.07 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term fund-based term loan | Term loans | — | ₹459 Cr | — | BBB (Stable) | Assigned | ICRA |
| Long-term fund-based proposed limits | Working capital & bank lines | — | ₹51.4 Cr | — | BBB (Stable) | Assigned | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | FY FY | Term loans | — | 31 Mar 2024 | 31 Mar 2035 | ₹459 Cr | BBB | Outstanding |
CARE ratings on record (checked 02 Nov 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Cash Credit | — | Withdrawn |
| Long Term | — | Withdrawn |
| Term Loan | — | Withdrawn |
Credit assessment · Wind power
Rating Methodology – Wind Power Projects (Dec 2024) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 51% |
| Information on file | 33% · missing: Annual results history (3+ years), Liquidity position, Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 51% chance the next rating action is stable or better
- Current rating BBB (investment grade)
- Interest coverage 2.3×
- ₹51.37 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
The risk is partly mitigated by the portfolio's established operating track record, comprehensive O&M arrangements covering most of the capacity. www.icra.in Sensitivity Label : Public Page |2 Exposure to interest rate and regulatory risk s - The interest rates on the term loans availed by the company for the project are floating and subject to regular resets.
From the report
The company had cash and bank balance of Rs. 1.76 crore as on March 31, 2021.
From the report
The company had cash and bank balance of Rs.0.42 crore as on March 31, 2020.
From the report
The company had cash and bank balance of Rs.0.54 crore as on March 31, 2019. 1 Complete definition of the ratings assigned are available at www.careratings.com and other CARE publications 1 CARE Ratings Limited Press Release Analytical approach: Standalone Applicable Criteria Criteria on assigning ‘outlook’ and ‘credit watch’ to Credit Ratings CARE’s Policy on Default Recognition Rating Methodology - Private Power Producers Rating Methodology - Wind Power Projects Financial ratios (Non-Financial Sector) About the Company Beta Wind Farm Private Ltd.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Beta Wind Farm Private Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 NTPC Limited |
Power Generation & Utilities · Oil, Gas & Energy | ntpc.co.in | 1975 | New Delhi, India |
 Adani Green Energy Limited |
Renewable Power · Electricity, Gas and Water companies | adanigreenenergy.com | 2015 | Ahmedabad, Gujarat, India |
 JSW Energy |
Renewable Power · Oil, Gas & Energy | jsw.in/energy | — | Mumbai, India |
| Renewable Power · Oil, Gas & Energy | seci.co.in | — | India | |
 Suzlon Energy |
Part of Suzlon Group. | suzlon.com | 1995 | Ahmedabad, India |
| Renewable Power · Oil, Gas & Energy | tatapowerrenewables.com | — | Mumbai, India | |
| Sterling And Wilson Renewable Energy Limited | Renewable Power · Oil, Gas & Energy | — | — | Mumbai, Maharashtra, India |
| Saatvik Green Energy Limited | · Electricity, Gas and Water companies | — | — | Haryana, India |
 SJVN |
Renewable Power · Oil, Gas & Energy | sjvn.nic.in | — | Shimla, India |
 Inox Wind |
Discovered Companies · Other Industries | inoxwind.com | 2009 | Una, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.