3,286 MW Order Book: Suzlon Peer Company’s Debt-Free Multibagger Stock Executes 990 MW Turnkey Order for Purvah Green
The stock gave multibagger returns of 575 per cent in just 2 years and a whopping 1,460 per cent in 5 years.
Inox Wind Limited (IWL), India’s leading wind energy solutions provider, updated today that the execution of the 990 MW turnkey order out of the 1,500 MW framework agreement signed is in full swing across multiple locations in the states of Gujarat, Rajasthan and Madhya Pradesh. IWL has received all the advances related to these projects and commissioning is expected in phases from FY26 onwards. This order from Purvah Green Private Limited, a subsidiary of CESC Ltd., is the single largest wind order awarded by an IPP in India to any wind OEM.
Commenting on this occasion, Mr. Kailash Tarachandani, Group CEO, Inox Wind Ltd., said, "We are pleased to announce that we are now executing the entire 990 MW of turnkey project for Purvah across multiple locations. We will commence the commissioning of the project in a phased manner starting FY26. This is a milestone order for Inox Wind from an esteemed customer and we are confident of deepening our relationship further.”
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Mr. Sandeep Kashyap, CEO – Renewables Business at RPSG Group, said “We are pleased with the progress which we have achieved on this project. Our partnership with Inox Wind will be a strong catalyst in our quest to achieve multi-fold growth in our renewable portfolio over the next few years. This is an important project for us, which will significantly contribute to achieve our green ambitions.”
Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 12 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals - chemicals and renewable energy. IWL is a fully integrated player in the wind energy market with four stateof-the-art manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured. With its state-of-the-art 3 MW series WTG offering, IWL’s manufacturing capacity stands at ~ 2.5 GW per annum. IWL’s subsidiary, Inox Green Energy Services Ltd., is the only listed wind O&M services company in India, having a strong portfolio of ~ 3.5 GW and a multi-fold growth path ahead.
The company has a market cap of over Rs 21,000 crore with a 5-year stock price CAGR of 88 per cent. The company’s order book is Rs 3,300 MW as of September 30, 2024. DIIs bought 72,76,501 shares and increased their stake to 9.81 per cent in December 2024 compared to September 2024. The stock gave multibagger returns of 575 per cent in just 2 years and a whopping 1,460 per cent in 5 years. Investors should keep an eye on this multibagger stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.