Hello
I take it you're using the schematic made in Proteus, so I will comment on that. I will also assume you're not using PWM (even if you're calling it "sine-wave"). A 160W load means I = P/V = 160/12 ~ 13.3A max. The resitance "seen" by the MOSFETs will be R = V^2/P = 144/160 = 0.9 Ohms. Now, if you say the battery voltage drops by 1V at load, that means Rbatt = 1V/13.3A ~ 75mOhms. I don't know what ratio your transformer has, but I'll assume it's 9:230, as Brian predicted. Therefore the drop will be 26*1V ~ 26V. Add to this the transformer's resistance and the wire's and you'll get other volts that add up. Also, are the opto-coupler's transistors connected to the 12V or the 5V bus? I hope the 12V one, otherwise you won't drive the transistor to it's full (or close) Ron value. Given the very few details you gave, that's about as much as I can come up with.
Good luck,
Vlad