Inox Wind Ltd shares rallied sharply by 5.07% today, reaching ₹212.35 on the BSE, following the company’s announcement of its strongest financial performance in eight years for Q2 FY25 on October 25, 2024. The company currently holds a market capitalization of ₹27,686.07 crore and has witnessed a remarkable 62% increase in its share price so far in 2024, along with an impressive 301% surge over the last year.
Key Financial Highlights:
- Q2 FY25 Profit: The company reported a profit of ₹90 crore, a significant turnaround from a loss of ₹27 crore in the corresponding quarter of the previous year.
- Revenue Growth: Inox Wind’s quarterly revenue soared 93% year-on-year, reaching ₹742 crore, up from ₹384 crore in Q2 FY24.
- Order Book: The company’s order book stands at approximately 3.3 GW, marking a 161% increase year-on-year. This includes a diverse mix of customers such as Public Sector Undertakings (PSUs), Independent Power Producers (IPPs), and retail clients.
Future Outlook:
Inox Wind is on track to achieve its best-ever full-year profitability in FY25, targeting 2 GW of execution by FY27. In the first half of FY25, the company secured orders totaling around 1.2 GW and is currently negotiating additional contracts.
Axis Securities has recommended Inox Wind shares as a buy, projecting a target price of ₹270 per share. This recommendation is based on a target P/E multiple of 35x applied to their FY26 earnings estimate, adjusted for a minority stake in Inox Green Energy Services and Resco Global.
Share Performance:
- In the past week, shares surged by 34.65%.
- Over the last six months, the stock has risen by 74%.
- Over two years, the returns are an impressive 698%.
- In the last five years, Inox Wind shares have increased by 1789%, with a 52-week high of ₹262.10 and a low of ₹50.14.
Shareholding Changes:
FIIs raised their holdings from 13.37% to 15.82% in the September 2024 quarter, increasing the number of FII/FPI investors from 172 to 204. Meanwhile, mutual funds decreased their stakes from 7.75% to 7.21%, although the number of mutual fund schemes rose from 11 to 16 during the same period. Institutional investors increased their holdings from 23.25% to 25.08%.
About Inox Wind:
Inox Wind Ltd is a leading wind energy solutions provider in India, catering to IPPs, utilities, PSUs, and corporate investors. It is part of the US$ 8 billion INOXGFL Group, which has over nine decades of legacy, focusing on chemicals and renewable energy. The company operates four state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, producing critical components such as blades, tubular towers, hubs, and nacelles.
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Disclaimer: This report is for informational purposes only and does not constitute financial advice. The information provided herein is based on publicly available data and sources believed to be reliable at the time of writing. Investments in stocks involve risks, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. The author or any affiliated parties may hold positions in the mentioned securities.
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