1,200 per cent returns & FIIs increase 3.9 per cent stake: This multibagger wind energy stock bags new order of 51 MW from Everrenew Energy!
Shares of the company gained more than 25 per cent in the last six months.
Inox Wind Limited, India’s leading wind energy solutions provider, has bagged an order for 51 MW from Everrenew Energy Private Ltd, a leading C&I player. This is an equipment supply order for IWL’s latest 3 MW Wind Turbine Generators (WTGs). Additionally, Inox Wind will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed in the state of Tamil Nadu.
Commenting on the occasion, Mr. Kailash Tarachandani, CEO of Inox Wind, said, "We are pleased to receive a 51MW 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."
Mr. R. Venkatesh, CEO, Everrenew Energy Private Ltd., said, “At Everrenew, we are committed to address 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.”
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Recently, Inox Wind Limited has secured a 201 MW order from Integrum Energy Infrastructure Ltd. This repeat order involves the supply of 3 MW wind turbine generators and subsequent O&M services. The project will span across Madhya Pradesh, Rajasthan, Karnataka, and Maharashtra. This order solidifies Inox Wind's position as a leading wind energy solutions provider and underscores its strong partnership with Integrum Energy.
The company posted strong Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 527.73 crore which grew by 176.66 per cent YoY. The operating profit of the company stood at Rs 137.54 crore, while the PAT of the company stood at Rs 37.67 crore, representing an impressive growth of 300 per cent YoY. The stock has also delivered multibagger returns of over 1,200 per cent in the past five years. FIIs increase stake in the company by 3.9 per cent.
Inox Wind Limited 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. Inox Wind Limited is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.