The company’s strong order book, spanning 3.3 GW, including a record 1,500 MW single project, demonstrates its ability to capitalise on the growing demand for wind energy in the country. Furthermore, Axis Securities, a brokerage firm, has given a “BUY” recommendation on the company’s stock with a target price of Rs 270 per share. This target price implies an upside of 33.6%.
Share Price Movement
The share price of Inox Wind Limited went up by 5.84 percent to Rs. 202.19 per share on Monday, an increase from its previous close of Rs. 191.04 per share. The market capitalisation now stands at approximately Rs. 26,361.41 crore as of December 02, 2024.
Order Book
Inox Wind boasts a robust order book of 3.3 GW, including a record 1,500 MW single project. Execution targets are set at 800 MW for FY25 and 1,200 MW for FY26, ensuring sustained growth.
Company Target
Axis Securities: maintains a “BUY” recommendation with a target price of Rs 270 per share an upside of 33.6%, valuing the stock at 35x FY26 EPS. The target reflects the company’s strong order book, improved execution capabilities, and positive sector outlook.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Inox Wind Energy’s consolidated revenue from operations has increased by 97.3 percent YOY from Rs. 371 crore in Q2 FY24 to Rs. 732 crore in Q2 FY25 and increased by 14.55 percent QoQ from Rs. 639 crore in Q4 FY24.
The company’s consolidated net profit has turned from a negative Rs. 27 crore in Q2 FY24 to Rs. 90 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 80 percent QoQ from Rs. 50 crore.
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Market Outlook
The industry outlook for India’s wind energy sector is positive, with the country anticipated to add nearly 25 GW of wind energy capacity between FY2025 and FY2028. This expansion is expected to increase India’s total installed wind power capacity from 40.9 GW in FY24 to 44.9 GW in FY24. To maintain stability and continuous power supply.
The industry will require capital investments ranging from INR 1.8 lakh crore to INR 2 lakh crore. The growth of wind energy will be supported by hybrid and storage-aided projects that integrate wind power with other renewable sources and energy storage systems. These measures are expected to enhance grid stability and reduce dependence on non-renewable energy sources.
Shareholding Pattern
As of the November 2024 shareholding pattern, Inox Wind Energy Limited is primarily held by the promoters at 48.27 percent, foreign institutional investors hold 15.82 percent, and the public with 26.83 percent.
About Company
Inox Wind Limited, a key player in India’s renewable energy sector, has driven sustainable development since its establishment in 2009. Specialising in wind energy, the company offers end-to-end solutions, including manufacturing wind turbine generators (WTGs) and managing large-scale projects. With a strong presence in Gujarat, Himachal Pradesh, and Madhya Pradesh, Inox Wind operates with a total manufacturing capacity of 1,600 MW.
The company excels in producing components like rotor blades, nacelles, hubs, and towers. Its comprehensive services include erection, procurement, and commissioning (EPC), operations and maintenance (O&M), and asset management for financial and technical optimization. Collaborating with independent power producers (IPPs), it customises wind turbine models to match diverse conditions and project needs, enhancing its market adaptability.
Inox Wind’s strategic positioning leverages India’s renewable energy goals. Backed by visionary leaders like Devansh Jain, the company is poised for sustained growth, driving innovation and fostering a greener future.
Written By Fazal Ul Vahab C H
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