Green Energy stock a fully integrated player in the wind energy sector, engaged in providing end-to-end turnkey solutions related to it in focus after the group company announces foraying into the solar sector with a capex plan of Rs. 1500 Crores.
Price Action
With a market capitalization of Rs. 26,760 Crores, the shares of Inox Wind Limited were trading at Rs. 205.25 per equity share, down 1.4 percent from its previous day’s close price of Rs. 208.15.
What Happened
INOXGFL Group has announced foraying into solar manufacturing through Inox Solar, a privately held entity by the promoters, aiming to be one of the fastest-growing solar platforms in the country.
It is targeting initial manufacturing capacities of 5 GW of solar modules and 2.5 GW of solar cells by 2026, at an outlined capex of Rs 1,500 crores. To also offer solar project EPC and O&M services to customers through Group companies
The First solar module manufacturing unit with an initial capacity of 1.2 GW in Gujarat is expected to be operational by March 2025. Additionally, it will offer post-commissioning O&M services through another group company Inox Green Energy Services.
Following the Group’s interests across the entire renewable energy ecosystem, solar manufacturing is a natural extension of it, making it one of the deepest integrated groups in India in the energy transition space, having a presence across EV, Energy Storage, Wind, Solar, and Green services, etc.
About the Company
Inox Wind Limited is a fully integrated player in the wind energy market engaged in providing end-to-end turnkey solutions, including manufacturing and sale of wind turbine generators (WTGs).
It also provides erection, procurement, and commissioning (EPC), operations and maintenance (O&M), and common infrastructure facilities services for WTGS and wind farm development services.
Management Comments
Speaking on the momentous occasion, Mr. Devansh Jain, Executive Director of INOXGFL Group, said “With Inox Solar, we proudly mark a new chapter in INOXGFL Group’s journey, advancing India’s renewable energy aspirations.
This foray into solar energy complements our existing strengths, making us a fully integrated player in the energy transition ecosystem. Our vision is to deliver comprehensive renewable solutions, supported by world-class manufacturing capabilities and turnkey services.
By targeting 5 GW of solar modules and 2.5 GW solar cell capacity by 2026, we aim to drive energy independence and empower our stakeholders. Together, we are not just contributing to greening India but also redefining the benchmarks of excellence in the renewable sector.”
Financials & Ratios
Its revenue from operations grew by 93 percent from Rs. 384.4 Crores in Q2FY24 to Rs. 741.74 Crores in Q2FY25, accompanied by a loss of Rs. 24.12 Crores to profits of Rs. 92.89 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 7.21 percent, and a return on capital employed (ROCE) of 6.48 percent. It has reported a debt-to-equity ratio of 1.33.
Written by: Bharath K.S
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