Inox Wind Ltd experienced a robust 7% increase in its stock value following the acquisition of a significant order for 200 MW of wind turbine generators (WTGs) from a prominent renewable C&I power producer. As per recent filings, the company’s shares rose to Rs 161.15, marking a 2% rise from the previous closing of Rs 158.30 per share, with a market capitalization of Rs 21,154.06 crore.
The newly secured order encompasses Inox Wind’s latest 3 MW WTGs and includes comprehensive turnkey execution alongside post-commissioning operations and maintenance services. The project will span across Gujarat and Rajasthan, underscoring Inox Wind’s expanding footprint in the renewable energy sector.
CEO Mr. Kailash Tarachandani expressed optimism about the order, stating, “We are pleased to announce a significant turnkey order for 200 MW. Inox Wind remains a preferred partner for renewable project developers, leveraging our capabilities and track record in delivering large-scale wind projects.”
In financial terms, Inox Wind has demonstrated substantial growth, with revenue soaring by 176% from Rs 191 crore in Q4FY23 to Rs 528 crore in Q4FY24. Concurrently, the company reversed its net loss trajectory, turning a Rs (119) crore loss into a Rs 37 crore profit.
Operating from four advanced manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, Inox Wind produces blades, tubular towers, hubs, and nacelles, bolstering its state-of-the-art 3 MW series WTG offering with an annual manufacturing capacity of approximately 2.5 GW.
Recently achieving debt-free status, Inox Wind attributed this milestone to a Rs 900 crore infusion from its promoter, Inox Wind Energy Limited (IWEL), generated through equity share sales via block deals on stock exchanges. This financial restructuring aims to fully retire external term debt, positioning Inox Wind for sustained growth and profitability in the coming fiscal years.
