Inox Wind Shares Surge 12.5% After Securing 153 MW Renewable Energy Order
Shares of Inox Wind Ltd., a leading provider of wind energy solutions, witnessed a sharp 12.5% spike in intraday trading on March 7, reaching ₹172.27 per share. This surge came after the company announced a 153 MW order from a major renewable energy developer, which is part of a global clean energy giant.
Key Highlights of the Order
According to an exchange filing, Inox Wind has secured an order for 3 MW class wind turbines for a wind energy project in Tamil Nadu. The company will not only supply the turbines but also provide limited-scope Engineering, Procurement, and Construction (EPC) services, along with multi-year Operations & Maintenance (O&M) services after the turbines are commissioned.
CEO’s Optimistic Outlook
Mr. Kailash Tarachandani, Group CEO of Inox Wind, expressed his enthusiasm regarding the order:
“We are delighted to announce a large 153 MW order from one of India’s leading renewable energy players, adding another strong customer to our well-diversified and large order book. As India’s burgeoning commercial & industrial (C&I) market continues to grow at a rapid pace, Inox Wind’s expertise in wind project execution, backed by a robust product portfolio and servicing excellence, continues to position it as a partner of choice for large renewable project developers.”
Inox Wind’s Strong Market Position
As a fully integrated wind energy solutions provider, Inox Wind operates four state-of-the-art manufacturing facilities across Gujarat, Himachal Pradesh, and Madhya Pradesh. These plants manufacture blades, tubular towers, hubs, and nacelles, ensuring seamless production and execution of large-scale wind projects.
The company’s manufacturing capacity currently stands at 2.5 GW per annum, positioning it to capitalize on India’s expanding renewable energy market. The country’s wind energy sector is projected to grow from 46 GW to 75 GW by FY32, driven by government incentives and rising corporate demand for sustainable energy solutions.
Robust Order Pipeline & Strategic Growth
Inox Wind boasts a strong order book of 3.3 GW, diversified across Public Sector Undertakings (PSUs), Independent Power Producers (IPPs), Commercial & Industrial (C&I) clients, and retail customers. This diverse client base ensures steady revenue streams and shields the company from sector-specific risks.
In the December quarter, Inox Wind secured major orders from key players such as:
- Hero Future Energies
- Inox Neo Energies
- Integrum Energy
- Everrenew
- Continuum
- Serentica Renewable
The company is aggressively targeting over 2 GW of annual execution by FY27, aligning with India’s push for 10 GW of annual wind capacity additions.
India’s Renewable Energy Expansion
According to JMK Research, India added:
24.5 GW of solar capacity in 2024 (2x increase from 2023) 3.4 GW of wind capacity (21% increase from 2023)
This has brought India’s total renewable energy capacity to 209.44 GW as of December 2024, contributing 45% of the total power capacity of 462 GW, as per the Ministry of Power.
Financial Performance & Key Ratios
Here’s a snapshot of Inox Wind’s financial metrics and stock performance:
| Metric | Value |
|---|---|
| Market Cap | ₹22,028 Cr. |
| Current Price | ₹169 |
| 52-Week High/Low | ₹262 / 107 |
| Stock P/E | 71.3 |
| Book Value | ₹20.5 |
| Dividend Yield | 0.00% |
| ROCE (Return on Capital Employed) | 4.26% |
| ROE (Return on Equity) | -1.81% |
| Debt-to-Equity Ratio | 1.33 |
| Pledged Percentage | 1.73% |
| Industry P/E | 47.3 |
| Graham Number | ₹33.0 |
| Intrinsic Value | ₹19.7 |
| RSI (Relative Strength Index) | 42.6 |
| EPS (Earnings Per Share) | ₹2.36 |
| Debt | ₹3,543 Cr. |
| Price-to-Book Value | 8.20 |
| Free Cash Flow (Last 3 Years) | ₹ -3,016 Cr. |
| Free Cash Flow (Last 5 Years) | ₹ -2,784 Cr. |
Future Outlook for Inox Wind
With a growing pipeline of projects, Inox Wind is well-positioned to benefit from India’s clean energy transition. The company’s ongoing technological advancements, including the shift from 2 MW to 3.3 MW turbines and upcoming 4.X MW platforms, will enhance efficiency and cost-effectiveness.
Despite a high P/E ratio of 71.3 and negative ROE of -1.81%, analysts remain optimistic about the company’s growth potential due to: Strong government push for renewables Expanding corporate demand for green energy Diversified order book ensuring steady revenues
Conclusion
The latest 153 MW order win has fueled a significant rally in Inox Wind’s stock, reinforcing investor confidence in the company’s growth potential. With India’s renewable energy sector on an accelerated growth path, Inox Wind’s technological advancements, strong order book, and robust execution strategy position it as a key player in the nation’s clean energy transformation.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.