3:1 Bonus Share: Peer Company of Suzlon Secures 87 MW Repeat Turnkey Order from Continuum Green Energy for 3 MW WTGs!
FIIs increase stake and the company’s shares have delivered an impressive return of over 230 per cent in the past 1 year only.
This Small-Cap company a leading wind energy solutions provider in India secured an 87 MW order from Continuum Green Energy Private Ltd (Continuum), a prominent player in the renewables sector for commercial and industrial (C&I) applications.
This order, a repeat from Continuum, is for IWL’s advanced 3 MW Wind Turbine Generators (WTGs) and will be delivered on a complete turnkey basis. In addition, IWL will offer multi-year operations and maintenance (O&M) services after the project is commissioned. The project will be developed across Gujarat and Rajasthan. With this order, IWL’s total orders from Continuum have reached approximately 700 MW, while its overall order book has surpassed 3.4 GW—a record high for the company.
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Currently, the shares of Inox Wind Limited are trading at around Rs 207 per share. The company’s current market capitalisation stands at Rs 27,040 crore. The stock has delivered a multibagger return of over 230 per cent in just 1 year.
As per the Quarterly Results, in the second quarter of FY24, Inox Wind Limited recorded a revenue of Rs 732 crore compared to Rs 371 crore representing a growth of around 98 per cent YoY. The operating profit stood at Rs 173 crore with a margin of around 24 per cent compared to Rs 48 crore with a margin of 13 per cent. The net profit was Rs 90 crore compared to a loss of Rs 27 crore. Looking at the annual performance, the company generated a revenue of Rs 1743 crore in FY24, compared to Rs 737 crore in FY23. The operating profit for FY24 was Rs 269 crore with a net loss of Rs 53 crore.
Inox Wind Limited a part of the Inox Group specializes in manufacturing Wind Turbine Generators (WTGs) and offers comprehensive wind energy solutions. The company caters to a diverse clientele including Independent Power Producers (IPPs), Utilities, Public Sector Undertakings (PSUs), Corporates, and Retail Investors. Inox Wind Ltd operates as a fully integrated entity in the wind energy sector, providing end-to-end turnkey solutions.
Disclaimer: The article is for informational purposes only and not investment advice.