Inox Wind shares jump 36% in 2 days. Here’s why

Shares of Inox Wind rallied 35% in two days, making a new all-time high of Rs 237 in Tuesday’s session on BSE after the company on Friday announced its Q1 results wherein it turned profitable on a YoY basis. The company also announced a 51 MW order win from Everrenew.

Order win

Inox Wind announced that it bagged an equipment supply order from Everrenew for its 3 MW class WTGs, which has to be executed in Tamil Nadu.

As of now, no other details regarding the order have been disclosed by the company.


“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,” said Kailash Tarachandani, CEO of Inox Wind.

“At Everrenew, we are committed to address the ever-growing power demands of our customers through our sustainable renewable power solutions. Our collaboration with Inox Wind will help us deliver on our project commitments as we aim to drive the adoption of renewable energy in the C&I segment and assist companies in their energy transition journey over the coming years,” added R. Venkatesh, CEO of Everrenew Energy.

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Q1 result

The company on Friday posted a profit of Rs 50 crore in the June quarter against a loss of Rs 65 crore in the corresponding quarter of the last year while its consolidated revenue rose 85% year-on-year (YoY) and 16% quarter-on-quarter (QoQ) to Rs 651 crore for the quarter ended June 2024.

Meanwhile, the consolidated EBITDA of the company stood at Rs 157 crore, which rose 349% YoY.

Inox Wind stated that it has reported its best Q1 financial performance in the history of the company and posted its largest-ever order book of > 2.9 GW (up 254% YoY), which provides huge revenue growth visibility.

Additionally, the promoters of the company (Inox Wind Energy) also infused Rs 900 crore in July 24 resulting in Inox Wind becoming a net cash company.

In the last one year, the share price of Inox Wind has multiplied by over 4 times while in the last 6 months, they have increased by 68%.

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