Multibagger Power Sector Stock Bags 51MW Order, Shares Rise 34.65% In 1-Week

Inox Wind Ltd shares today hit fresh 52-week high and gained 7.10% at the time of writing story. Current market price of Inox Wind shares on BSE is Rs 223.30 per share. The company today informed via BSE filing about receiving 51 MW equipment supply order from Everrenew for its 3 MW class WTGs. Inox Wind shares soared 327% in last 1-year. The market capitalisation of Inox stood at Rs 29,191.95 crore. Yesterday, Inox Wind shares hit upper circuit after the company declared healthy quarterly results last week. Check details below:

Inox Wind Bags New Order: As per the regulatory filing of the company issued as on August 13, 2024, "Inox Wind Limited (IWL), India's leading wind energy solutions provider, has bagged an order for 51 MW from Everrenew Energy Private Ltd, a leading C&I player. This is an equipment supply order for IWL's latest 3 MW Wind Turbine Generators (WTGs). Additionally, Inox Wind will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed in the state of Tamil Nadu."

Commenting on the occasion, Mr. Kailash Tarachandani, CEO of Inox Wind, said, "We are pleased to receive a 51MW order from Everrenew, an esteemed customer with whom we aim to build a mutually fruitful partnership going ahead. We are glad to witness the strong preference for our turbines and services by project developers and we continue to make our contribution as India surges ahead to achieve its renewable capacity targets."

Inox Wind Q1: The company announced profit after tax (PAT) for the quarter ended June 2024 at Rs 50 crore as against the loss of Rs 65 crore announced in the corresponding quarter of last year, as per the company's BSE filing. Inox Wind announced total revenue at Rs 651 crore for June 2024 quarter, up 85% as against Rs 352 crore declared in the similar quarter of last year. Consolidated EBITDA surged to Rs 157 crore for the quarter under review from Rs 35 crore declared in the corresponding quarter last year.

The management anticipates increased order execution from FY25 onwards, with a guidance of 800 MW and 1,200 MW for FY25 and FY26E, respectively, and a target of 2 GW of annual execution in the medium term.

Inox Wind Shares Performance: Inox Wind shares gained over 34.65% in last 1-week only, rallied 74% in last 6-months, gave return of 698% in last 2-years, and surged 598% in last 3-years. In last 5-years, Inox Wind stock zoomed 1789%. The 52-week high price of Inox Wind Ltd shares on BSE is Rs 237.00 per share (as on 13/08/2024) and 52-week low price is Rs 46.50 per share (as on 18/08/2023), respectively.

About: Inox Wind Limited (IWL) is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 8 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals - chemicals and renewable energy. IWL is a fully integrated player in the wind energy market with four state-of-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured, according to BSE filing of the company.

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