Shares of this multibagger green energy stock jumped 3 percent in Tuesday’s trading session after the company successfully received a repeat order for 279 MegaWatt (MW) from a large Commercial and Industrial (C&I) player. In the past month, the company’s stock rose more than 60 percent.
With a market capitalization of Rs 15,161.49 crores, the stocks of Inox Wind Limited opened their trading hour on Tuesday at Rs 456.85 and currently trade at Rs 465.15, gaining around 3 percent as compared to the previous close of Rs 452.70 apiece.
Such stock price movements are observed today post a regulatory filing published with the Bombay Stock Exchange (BSE) intimating the receipt of a repeat order for 279 MW for its 3 MW Wind Turbine Generators (WTGs) from a large C&I player.
To be executed in Rajasthan and Gujarat by June 2025, the order includes supplies of equipment along with a limited scope of Engineering, Procurement, and Construction (EPC) for 180 MW. In addition, 99 MW is to be executed on a turnkey basis.
“I believe this order as well as our strong order inflow pipeline reinforces our commitment towards achieving substantial growth in execution and profitability in FY25 and beyond.”, commented Mr. Kailash Tarachandani, CEO of Inox Wind.
During the recent financial quarters, the company’s operating revenues were on the rise taking a shift from Rs 348.73 crores during Q1FY23-24 to Rs 370.64 crores during Q2FY23-24. The after-tax profits of the company, though negative, have reduced in numbers from a loss of Rs 64.88 crores to Rs 29.23 crores keeping the timeframe the same.
In the past six months, the company’s stock has delivered multibagger returns of nearly 210 percent for its stakeholders, viz, if someone had invested Rs 1 lakh into the stock six months ago, it would have converted to Rs 3.10 lakhs.
According to the recent presentations of the company, the net order book for Wind Turbine Generators (WTGs), in totality, stands at 1,276 MW comprising orders from NTPC, Solar Energy Corporation of India Limited (SECI), and many more.
Inox Wind Limited is engaged in the business of offering wind energy solutions to the ‘Renewable Energy’ industry. Manufacturing Wind Turbine Generators (WTGs) and their components, the company’s services include erection, procurement and commissioning, and common infrastructure facilities for its products.
Written by Amit Madnani
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