In Tuesday’s trading session, the shares of India’s leading wind energy solutions provider surged by 13.6 percent to hit a new 52-week high at Rs. 237 on BSE, after the company secured a 51 MW order equipment supply order from Everrenew Energy Private Ltd.
At 10:06 a.m., the shares of Inox Wind Limited were trading in the green at Rs. 228.5, up by 9.6 percent, compared to its previous closing price of Rs. 208.5, with a market cap of Rs. 29,713.5 crores.
What’s the News:
Inox Wind Limited (IWL) informed the stock exchanges about receiving a 51 MW equipment supply order from a leading commercial & industrial (C&I) player, Everrenew Energy Private Ltd. This is an equipment supply order for the company’s latest 3 MW Wind Turbine Generators (WTGs).
Additionally, Inox Wind will provide post-commissioning multi-year operations & maintenance (O&M) services, and the project will be executed in the state of Tamil Nadu.
Everrenew Energy Private Limited is a renewable energy company, which provides project management solutions for wind, solar and hybrid projects with asset management.
Its services include wind resource assessment, solar assessment, site identification, permit & approval, land acquisition and development, civil, procurement & logistics, commissioning, and asset management.
Previous Orders:
Earlier on 6th August, Inox Wind bagged an order for 201 MW from Integrum Energy Infrastructure Ltd.
This was an equipment supply order for the company’s latest 3 MW Wind Turbine Generators (WTGs), and the project will be executed across four states, namely Madhya Pradesh, Rajasthan, Karnataka and Maharashtra.
Financials:
Financially, the company experienced significant growth in its revenue from operations, showing a year-on-year rise of 83 percent from Rs. 349 crores in Q1 FY23-24 to Rs. 639 crores in Q1 FY24-25.
Similarly, its net profit increased during the same period from a loss of Rs. 65 crore to a profit of Rs. 50 crore.
Stock performance:
The stock has delivered multibagger returns of nearly 351 percent in one year and around 76.6 percent of positive returns in the last six months. So far in 2024, the shares of Inox Wind have given about 73.5 percent of positive returns.
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About the company:
Inox Wind Limited (IWL) is engaged in the business of manufacturing and sale of Wind Turbine Generators (WTGs), along with providing Erection, Procurement & Commissioning (EPC), Operations & Maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.
Written by Shivani Singh
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