Buy Inox Wind, target price Rs 270: Axis Securities

Axis Securities has buy call on Inox Wind with a target price of Rs 270. The current market price of Inox Wind Ltd. is Rs 243.35.

Inox Wind Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 30516.60 Crore) operating in Power sector.

Inox Wind Ltd. key Products/Revenue Segments include Wind Turbine Generator, Sale of services and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-06-2024, the company has reported a Consolidated Total Income of Rs 650.52 Crore, up 15.53 % from last quarter Total Income of Rs 563.07 Crore and up 84.66 % from last year same quarter Total Income of Rs 352.28 Crore. Company has reported net profit after tax of Rs 50.38 Crore in latest quarter.

The company?s top management includes Mr.Shanti Prashad Jain, Ms.Bindu Saxena, Mr.V Sankaranarayanan, Mr.Devansh Jain, Mr.Manoj Shambhu Dixit, Mr.Mukesh Manglik. Company has Dewan P N Chopra & Co. as its auditors. As on 30-06-2024, the company has a total of 130 Crore shares outstanding.



Promoter/FII Holdings
Promoters held 48.27 per cent stake in the company as of 30-Jun-2024, while FIIs owned 13.37 per cent, DIIs 9.75 per cent.