One of the green energy stocks engaged in manufacturing wind turbine generators (WTGs) and wind energy solutions. The stock has jumped to an intraday high of 1.88 percent after securing an order of 87 MW from Continuum Green Energy.

Stock Movements

With a market capitalization of Rs. 26,375.75 crores, the shares of Inox Wind Limited have reached an intraday high of Rs. 208.55 per equity share, rising nearly around 1.88 percent from its previous day’s close price of Rs. 204.70. The stock is currently trading at Rs 205.64 per equity share.

What Happened

Inox Wind Limited captured an order of 87 MW from Continuum Green Energy, focusing on its advanced 3 MW wind turbine generators. The company will execute the entire project on a turnkey basis in Gujarat and Rajasthan and also manage long-term operations and maintenance services. 

The new order boosts Continuum’s total commitment with Inox Wind to approximately 700 MW, showcasing strong client trust. Notably, Inox Wind’s order book has surged to a record-breaking level of over 3.4 GW. The company experiences robust demand across customer segments, particularly from developers pursuing hybrid solutions, round-the-clock power supply, and FDRE projects that heavily incorporate wind capacity.

Order Book 

The company maintains a robust order book of approximately 3.4 GW, split between end-to-end turnkey projects (2,186 MW) and equipment supply (1,142 MW). During FY25, the company secured an order from major players, including Hero Future Energies, IGREL Renewables, Integrum Energy, and Everrenew.  Inox Wind Limited started from an opening order book of 2,446 MW in FY25, net additions of 1,162 MW, supplies of 280 MW, and the currently maintained order of 3,328 MW as of Q2 FY24.

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Recent quarter results and ratios

Inox Wind Limited’s revenue has increased from Rs. 639 crore in Q2 FY24 to Rs. 732 crore in Q2 FY25, which has grown by 14.55 percent QOQ. The net profit of Inox Wind Limited has also grown by 44.44 percent QOQ, from Rs. 50 crore in Q2 FY24 to Rs. 90 crore in Q2 FY25. 

Inox Wind Limited’s revenue has grown at a CAGR of 34.84 percent over the last five years.

In terms of return ratios, the company’s ROCE and ROE should be 4.26% and -1.81%, respectively. The debt-to-equity ratio of the company is to be 1.33x. Inox Wind Limited’s EPS is to be Rs. 1.48.

Shareholding Pattern

Inox Wind Limited has a majority stake held by the promoters at 48.27 percent, foreign institutional investors at 15.82 percent, domestic institutional investors at 9.09 percent, and the public at 26.83 percent as of September 2024.

Company Overview

Inox Wind is an integrated wind energy solutions provider in India, manufacturing wind turbine generators and offering EPC, operations, and maintenance services. The company operates three manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh. Inox Wind serves diverse customers, including IPPs, utilities, PSUs, and corporations.

Written By – NIkhil Naik

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