The shares of the wind turbine generator manufacturer gained up to 7 percent after the company’s net profit and revenue magnified by 80 percent YoY and 97 percent QoQ, respectively in Q2FY25.
Inox Wind Ltd has a market capitalization of Rs 28,090.24 crore, the shares were trading at Rs 215.45 per share, increasing around 6.13 percent as compared to the previous closing price of Rs 203.00 apiece.
Reason for rise:-
The shares of the company have seen positive movement after Inox Wind Ltd announced its financial performance in which, revenue zoomed by 97 percent on year on year basis from Rs 371 crore in Q2FY24 to Rs 732 crore in Q2FY25, however, in Quarter a Quarter basis revenue increased by 14 percent from Rs 639 crore in Q1FY25 to Rs 732 crore Q2Y25.
Moreover, net profit is magnified by 433 percent on a yearly basis from a Rs 21 crore loss in Q2FY24 to Rs 90 crore profit in Q2FY25, meanwhile on a quarter-on-quarter basis net profit soard multifold times by 80 percent from Rs 50 crore in Q1FY25 to Rs 90 crore in Q2FY25.
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.
Order Book:-
As of Q2 FY25, Inox Wind Ltd has reported an impressive order book totaling 3.3 gigawatts (GW). This figure represents a 161% year-over-year increase and includes 1.2 GW of new orders secured during the first half of FY2515. The order book is diversified, comprising contracts from public sector undertakings (PSUs), independent power producers (IPPs), commercial and industrial (C&I) clients, and retail customers
Future outlook:-
The company targets an execution of 2 GW by FY27, underscoring its robust order capacity. With a net cash-positive balance sheet, management anticipates minimal finance costs ahead, owing to the elimination of interest-bearing debt, strengthening its financial resilience.
Strategic Initiatives:-
Inox Wind is prioritizing product development, including larger wind turbine blades and commercialized innovations to improve profitability. Its strategy emphasizes focusing on large clients and profitability over market share, aligning with government initiatives to accelerate renewable energy adoption in India.
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
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