Multibagger Wind Energy Stock Hits 52-Week High, Buy For TP Rs 205: Axis Securities

Inox Wind Ltd shares today zoomed 7.98% and hit fresh 52-week high after the company reported healthy Q1 earnings. Current market price of Inox Wind shares on BSE is Rs 198.05 per share. Inox Wind shares offered attractive return of 281% in last 1-year and 46% in last 3-months. Its market capitalisation stood at Rs 25,352.27 crore. Check key details below pertaining to Inox Wind:

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

Should You Buy Inox Wind Shares? Leading brokerage firm Axis Securities has recommended buy call to Inox Wind shares with target price of Rs 205. The analyst said, "it has the capability and supply chain readiness to execute higher MWs. The annual capex guidance for FY25/26 remains unchanged at Rs 50-75 crore, and the full-year working capital is at 90 days."

Inox Wind Shares Performance: The 52-week high price of Inox Wind Ltd shares on BSE is Rs 199.00 per share (as on 12/08/2024) and 52-week low price is Rs 46.50 per share (as on 18/08/2023), respectively. Inox Wind shares gained over 17% in last 1-week only, surged 63% in last 6-months, offered return of 281% in last 1-year, and rose 613% in last 2-years. In last 5-years, Inox Wind stock offered return of 1512%.

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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