Stock market today NSE: Shares of Inox Wind, one of the leading names in the wind energy market, were on the radar on Friday, April 19, as the company announced that it has bagged an order for the supply of 210 MW of wind turbine generators (WTGs) from Hero Future Energies (HFE), one of the leading renewable energy players in India. 

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"The order is for IWL’s state-of-the-art 3 MW wind turbine generators (WTGs), and the scope comprises equipment supply with certain add-on services. Additionally, Inox Wind will also provide post-commissioning, multi-year operations and maintenance (O&M) services. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India," the company said in its press release.

Commenting on the occasion, Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces our confidence in our 3MW WTGs, which are one of the most efficient turbines in their class. The addition of this order further re-emphasises our growth outlook."

In the early trade, the stock was trading 0.42 per cent lower at Rs 540 apiece on the BSE amid an all-round sell-off on Dalal Street, propelled by geopolitical tensions. 

About Inox Wind (IWL)

IWL is a part of the nearly $8 billion INOXGFL Group, which has a legacy spanning over nine decades and is primarily focused on two business verticals: chemicals and renewable energy. IWL has four state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, where blades, tubular towers, hubs, and nacelles are manufactured. With its state-of-the-art 3 MW series WTG offering, IWL’s manufacturing capacity stands at nearly 2.5 GW per annum.

IWL claims that it offers complete end-to-end wind energy solutions from concept to commissioning to O&M, manufacturing key components of WTGs using the most advanced technology in-house to maintain high quality, reliability, and cost competitiveness.

Inox Wind's stock performance

Investors in the wind energy solutions provider made money with both hands as the stock price, in one year, has zoomed more than 465 per cent. The company's top official in February, in an interaction with PTI, said that it is likely to continue its growth trajectory after its business turned around in the December 2023 quarter, driven by a strong order book and higher revenues.

Its parent, INOXGFL Group's Executive Director Devansh Jain, said the group firm is expected to continue to register a consistent rise in its profit after tax (PAT) over the next few quarters, backed by growth in business amid favourable market conditions. 

Inox Wind posted a consolidated net profit of Rs 1.81 crore for the October–December 2023 period after reporting a back-to-back loss for the last five years.