Inox Wind Shares Jump After New Order

The stock price of Inox Wind saw a significant rise of over 9 percent during the early trading session on August 13. This surge came right after the company announced a 51 MW equipment supply order, signaling a growing demand for their 3 MW turbines.

As of 9:49 am on the same day, Inox Wind shares were trading at ₹227.55 on the Bombay Stock Exchange (BSE), up by 9.45 percent. The order involves providing the company’s latest wind turbine generators along with post-commissioning operations and maintenance services, and the project will take place in Tamil Nadu.

Kailash Tarachandani, the CEO of Inox Wind, expressed his enthusiasm about the deal, stating, “We are pleased to receive a 51 MW order from Everrenew, an esteemed customer with whom we aim to build a mutually fruitful partnership.” He further mentioned the strong preference for their turbines among project developers, especially as India strives to meet its renewable energy capacity goals.

Meanwhile, R. Venkatesh, the CEO of Everrenew Energy Private Ltd., highlighted his company’s commitment to meeting the growing power demands of its customers with sustainable solutions. He noted that the partnership with Inox Wind would assist in pushing renewable energy adoption in the commercial and industrial (C&I) sector.

Inox Wind shares had previously hit a 52-week high of ₹208 per share during intraday trading on Monday, following a positive financial report for the April-June quarter of FY 2024-25. They reported an impressive 83.18 percent year-on-year increase in revenue, totaling ₹638.81 crore.

In this quarter, the company also turned a profit before tax of ₹48.01 crore, bouncing back from a loss of ₹63.49 crore in the same quarter last year. Their consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) rose significantly to ₹157 crore compared to ₹35 crore in the previous year.

Known for its wind turbine generators, Inox Wind provides various services, including erection, procurement, commissioning, and operations and maintenance, as well as developing wind farms and infrastructure for turbines.