Inox Wind Stock Soars After Strong Earnings

Shares of Inox Wind have experienced a significant surge, climbing over 329% in the past year. This excitement in the market follows the company’s strong results for the first quarter of fiscal year 2024-2025 (Q1FY25), which revealed impressive operating margins and robust revenue growth.

In the recently released financial results, Inox Wind reported an operating margin of 21.3%, surpassing expectations of 15%. The company’s revenue for the June quarter nearly doubled, indicating a notable turnaround compared to a loss in the same period last year.

Analyst firm Nuvama praised Inox Wind for its solid performance, noting that the company executed 140 MW of projects according to estimates, which translates to an impressive year-on-year sales growth of 83%, reaching ₹640 crore.

Adding to the positive sentiment, Axis Securities has set a target price of ₹205 per share based on the company’s strong financials and external debt being reduced to zero. Meanwhile, ICICI Securities has upped their target to ₹240, citing that Inox Wind has never looked better in terms of business fundamentals.

The recent spike in stock price was influenced further by a new 51 MW order for Inox Wind’s turbines from Everrenew Energy, a deal that undoubtedly bolsters their position in the renewable energy sector.

As Inox Wind continues to strengthen its market position through strategic partnerships and a growing order book, investors are increasingly optimistic about its future performance.