Inox Wind share price surged over 9 per cent during the early trading session on Tuesday, August 13, following the announcement of a 51 MW equipment supply order from Everrenew Energy. This deal highlighted the growing demand for Inox Wind’s 3 MW turbines and strengthens its position in the renewable energy sector.
Inox Wind stock price was trading in green, up 9.45 per cent, at ₹227.55 on BSE, at 9:49 am, on August 13.
The order pertains to the supply of Inox Wind’s latest 3 MW Wind Turbine Generators (WTGs), along with multi-year post-commissioning operations and maintenance (O&M) services. The project will be carried out in Tamil Nadu.
Kailash Tarachandani, CEO of Inox Wind, commented, “We are pleased to receive a 51 MW 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.”
R. Venkatesh, CEO of Everrenew Energy Private Ltd., said, “At Everrenew, we are committed to addressing 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.”
Inox Wind fundamentals, stock performance
Shares of Inox Wind surged by up to 19.40 per cent, reaching a 52-week high of ₹208 per share on the BSE during Monday’s intraday trading. This rise follows the company’s financial report for the April-June quarter of the fiscal year 2024-25 (Q1FY25).
The wind energy solutions provider saw a remarkable 83.18 per cent year-on-year increase in revenue from operations, totalling ₹638.81 crore for Q1FY25. The company also reported a profit before tax of ₹48.01 crore for the quarter, a notable turnaround from the loss of ₹63.49 crore reported in Q1FY24.
Consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) climbed significantly to ₹157 crore in Q1FY25, compared to ₹35 crore in the same quarter last year.
Inox Wind, known for its wind turbine generators (WTGs), provides a range of services including erection, procurement, and commissioning (EPC), operations and maintenance (O&M), and wind farm development and common infrastructure facilities for WTGs.
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