The shares of Green Energy stock, specialized in the business of manufacturing Wind Turbine Generators (WTGs), jumped upto 8 percent upon securing an order from a major renewable energy firm for a Tamil Nadu project.
Price action
With a market capitalization of Rs. 21,545.20 crores on Friday, the shares of Inox Wind Limited jumped upto 8 percent making a high of Rs. 165.35 per share compared to its previous closing price of Rs. 153.10 per share.
What Happened
Inox Wind Limited, engaged in the business of manufacturing Wind Turbine Generators (WTGs) has secured its first-ever 153 MW order from a leading renewable energy developer, part of a global clean energy company, for a project in Tamil Nadu.
This order is for the supply of IWL’s 3 MW class turbines for a project being developed by the company in Tamil Nadu. Additionally, IWL will provide limited scope EPC for the project as well as multi-year operations & maintenance (O&M) services after the commissioning of the turbines.
Management Commentary
Mr. Kailash Tarachandani, Group CEO, Inox Wind Ltd said: We are delighted to announce a large 153 MW order from one of the leading renewable energy players in India, adding another strong customer to our well diversified and large orderbook. As India’s burgeoning commercial & industrial (C&I) market continues to grow at a rapid pace, Inox Wind’s expertise in wind project execution, backed by a robust product and servicing excellence, continues to place it as a partner of choice for large renewable project developers.
About the company
Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors and is primarily focused on two business verticals – chemicals and renewable energy. IWL is a fully integrated player in the wind energy market with four state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured.
Key Highlights of the Quarter
The company order book stands at ~ 3.3 GW and FY25 order inflows stand at ~1.4 GW with a strong order pipeline. The company has executed 189MW in Q3FY25, up by 82 percent YoY, and 469 MW executed in 9M FY25, up by 90 percent YoY.
Orderbook Segmentation
Order book currently stands at ~ 3.3 GW, providing a large revenue visibility in the next 2-3 years. In FY25 the Equipment supply consists of 1,202 MW and End-to-End Turnkey consists of 2,088 MW.
Financials
The company’s total revenue rose by 96 percent from Rs. 506.88 crore to Rs. 993.6 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 1.07 crore to Rs. 116.65 crore during the same period.
Written by Sridhar J
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