Shares of Inox Wind Ltd (IWL) soared as much as 13.4 percent to Rs 173.53 on March 07 after the company announced a 153 MW order from a renewable energy developer, part of a large global clean energy group.
The project in Tamil Nadu will see IWL supplying its 3 MW class turbines and handling operations and maintenance post-commissioning. Investors reacted positively to the development, as it added to the company’s order book and revenue pipeline. The contract also includes a limited-scope EPC component.
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The order comes as Inox Wind reported a sharp rise in its quarterly earnings. Consolidated profit after tax (PAT) surged to Rs 239 crore in the October-December quarter, compared to Rs 33 crore a year ago. Revenue nearly doubled to Rs 994 crore from Rs 507 crore.
The company’s order book stood at 3,286 MW at the end of Q3 FY25, up 28 percent from 2,575 MW a year earlier. IWL’s Group CEO Kailash Tarachandani said the company is adding new customers and remains focused on execution as India’s renewable energy sector expands.
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With a growing order pipeline and improved financials, Inox Wind’s latest order win has reinforced investor confidence in its outlook.
Shares of the company closed at Rs 171, higher by 11.46 percent from the last close on the NSE. Inox Wind shares have been on a sticky patch of late, crashing 25 percent in the last three months.
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