The shares of green energy solution providers gained up to 15 percent after the company’s promoter infused Rs 900 crore and achieved net debt-free status.
Price Movement:-
With a market capitalization of Rs 20,586.91 crore, the shares of Inox Wind Ltd were trading in green at Rs 157.70 per share, increasing around 10.78 percent as compared to the previous closing of Rs 142 apiece.
Matter Description:-
Inox Wind will achieve debt-free status after the promoter of the company Inox Wind Energy Limited (IWEL) injected Rs 900 crore. The funds were raised by IWEL on May 28, 2024, through the sale of equity shares of IWL through block deals on the stock exchanges, witnessing the participation of several marquee investors. The funds will be utilized by IWL to completely pare down its external term debt to achieve a net debt-free status.
Financial Performance:-
Examining the company’s financial performance, revenue increased by 176 percent from Rs 191 crore in Q4FY23 to Rs 528 crore in Q4FY24, but during the same time frame, net profit increased by 131 percent from a loss of Rs 119 crore to a profit of Rs 37 crore.
Manufacturing facility and capacity:-
IWL is a fully integrated participant in the wind energy sector, with four cutting-edge manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh that produce blades, tubular towers, hubs, and nacelles. IWL’s 3 MW series WTG has an annual production capacity of around 2.5 GW.
Order book & Recent Order:-
In Feb 2024, Inox Wind bagged the single largest contract awarded to an Indian Wind OEM to date from CESC for 1,500 MW and also signed a landmark technology agreement for the launch of 4X MW wind turbines in India and the company has a robust order book of 2.7 GW with a large order pipeline.
Government Initiative:-
India’s power demand growth is expected to accelerate by at least a 5-6% CAGR over the next decade and beyond, with peak demand expected to exceed 366 GW by 2032.
This is supported by the Prime Minister’s vision and initiatives, as evidenced by India’s commitments to COP conferences, the International Solar Alliance, the focus on Green Energy in all bilateral/multilateral discussions, the Government’s 2032 targets, and supportive policies.
Company Overview:-
Inox Wind Limited is a prominent wind energy solutions supplier in India, producing wind turbine generators and providing comprehensive solutions. The firm is devoted to renewable energy, and its operations include wind resource evaluation, site acquisition, infrastructure construction, and operations and maintenance services.
Written by:- Abhishek Singh
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