The shares of the leading wind energy manufacturer gained up to 7 percent after the company bagged an order for 200 MW from a renewable C&I Power Producer.
With a market capitalization of Rs 21,154.06 crore, the shares of Inox Wind Ltd were trading at Rs 161.15 per share, increasing around 2 percent as compared to the previous closing of Rs 158.30 apiece.
Matter Description:-
According to the company filing, Inox Wind Ltd has received an order for 200 MW from a renewable C&I power producer. The order is for IWL’s newest 3 MW Wind Turbine Generators (WTGs), and it includes end-to-end turnkey execution. Inox Wind will also provide post-commissioning multi-year operations and maintenance (O&M) services. The project will be implemented across Gujarat and Rajasthan.
Commenting on the occasion, Mr. Kailash Tarachandani, CEO of Inox Wind, said, “We are pleased to announce a large turnkey order for 200 MW. Inox Wind continues to be a preferred partner for renewable project developers given our capabilities and credentials to deliver large-scale wind projects. I believe this, along with our existing order book and strong order pipeline, reinforces our commitment towards achieving substantial growth in FY25 and beyond.”
Financial Performance:-
Looking forward to the company’s financial condition, revenue magnified drastically by 176 percent from Rs 191 crore in Q4FY23 to Rs 528 crore in Q4FY24, during the same time frame, net loss turned into profit from Rs (119) crore to Rs 37 crore.
Also read
Manufacturing Facility & recent achievement:-
The company has 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. With its state-of-the-art 3 MW series WTG offering, IWL’s manufacturing capacity stands at ~ 2.5 GW per annum.
Recently, IWL achieved 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.
Company snapshot:-
Inox Wind Limited manufactures wind turbine generators and provides wind energy solutions to IPPs, utilities, PSUs, corporates, and retail investors. Inox Wind Ltd is a fully integrated player in the wind energy sector, offering complete turnkey solutions.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
