Shares of Inox Wind Ltd. surged 8% on Tuesday to reach an intraday high of ₹ 146.80 apiece from the previous close price of ₹ 133.80. This happened after the company obtained an additional 150 MW deal from NTPC Renewable Energy Ltd.
At 13:00 am, the stock was trading at Rs 144.25 on the BSE, up 7.49 percent from its previous close.
NTPC Renewable Energy is a fully owned subsidiary of NTPC Green Energy, NTPC’s renewable energy branch, according to the exchange filing. The project will take place in the state of Gujarat. Inox Wind has now acquired a total of 550 MW from NTPC with this deal.
Inox Wind Ltd is one of India’s leading wind power solutions providers, engaged in the manufacturing of wind turbine generators and accessories like Blades & Towers. the company caters to Corporates and Retail clients.
As per consolidated financials, the company reported operating revenue declined from ₹226 crores in Q3 to ₹192 crores in Q4. Similarly, the net profits of the company during the same period decreased from a loss of ₹287 crore to a subsequent loss of ₹ 119 crore.
On a YoY comparison of the metrics, the revenues slightly increased from ₹ 624 crores during FY 21-22 to ₹736 crores in FY 22-23. The PAT numbers have declined within the timeframe mentioned, from a loss of ₹ 429 crores to a further loss of ₹670 crores, the company has a market cap of Rs 4,631 crores.
According to the latest data pertaining to the shareholding pattern, promoters of the company hold a 72.01 percent stake, and the public holds a 26.07 percent stake in the company for FY 22-23.
Written By Omkar C
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