In Short : Inox Wind’s stock rises after securing a 200-MW order, boosting investor confidence and expanding its renewable energy portfolio.
In Detail : Inox Wind gained 2.31% to Rs 161.95 after the wind energy solutions provider has bagged an order for 200 megawatt (MW) from a renewable C&I power producer.
The said order is for IWLs latest 3 MW Wind Turbine Generators (WTGs) and the scope comprises of end to end turnkey execution.
Additionally, Inox Wind will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed across the states of Gujarat and Rajasthan.
Kailash Tarachandani, CEO of Inox Wind, said, 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.
Inox Wind is a wind energy solutions provider in India, catering to IPPs, Utilities, PSUs, and Corporate investors. It is part of the INOXGFL Group, with a focus on chemicals and renewable energy. IWL is fully integrated in the wind energy market, with four manufacturing plants and a capacity of over 2 GW per annum.
The wind energy service provider reported a consolidated net profit (from continuing operations) of Rs 37.67 crore in Q4 FY24 as against a net loss of Rs 115.51 crore posted in Q4 FY23. Revenue from operations stood at Rs 527.73 crore in Q4 FY24, steeply higher than Rs 190.75 crore recorded in the corresponding quarter previous year.
