1200 per cent Multibagger Returns: This wind energy company unpleges 45,00,000 shares of Inox Green Ltd approximately Rs 79.97 crore

The company has given multibagger returns of 211 per cent in a year.

In a positive development for Inox Wind Limited, the company has announced the release of a pledge on 45,00,000 shares of Inox Green Ltd, valued at approximately Rs 79.97 crore, by its promoters. This move is expected to bolster investor confidence and enhance the financial stability of the company.

The release of these shares from pledge signifies a reduction in debt or an improvement in the company’s financial health, potentially leading to increased flexibility for future investments and operations.

For the quarter ending March 2024, the company reported a revenue of Rs 528 crore, up 176.44 per cent year-over-year and 4.97 per cent from the previous quarter. Net profit improved to Rs 37 crore compared to a loss of Rs 119 crore a year ago, marking a significant turnaround. For the full financial year 2024, revenue increased to Rs 1,743 crore, reflecting a yearly growth of 136.50 per cent. However, net loss for FY24 was Rs 53 crore, although this was a notable reduction from the loss of Rs 671 crore in FY23.

Inox Wind Ltd has a market capitalisation of Rs 21,667 crore. The current price is Rs 166, with a 52-week high of Rs 190 and a low of Rs 46.5. Over the past year, the stock has given multibagger returns of 211.49 per cent, 408.0 per cent over the past three years, and 1246.95 per cent over the past five years.

Inox Wind Limited is a part of the Inox Group. The company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. [1] Inox Wind Ltd is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions.

Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.