3:1 Bonus Share: Peer Company of Suzlon Approves Rs 350 Crore Equity Raise to Tap Opportunities in Indian Wind Sector - FIIs Increase Stake

FIIs increase stake and the company’s shares have delivered an impressive return of over 330 per cent in the past 1 year only.

Inox Wind Ltd, India’s leading wind energy solutions provider, announced that the board of its subsidiary, Resco Global Wind Services Pvt Ltd (Resco Global), a prominent EPC projects company, has approved an equity raise of Rs 350 crore from marquee investors for a single-digit stake. The funds will be used to expand business offerings and seize large-scale opportunities in the Indian wind sector.

Resco Global is one of the top two wind EPC service providers in India, boasting a strong operational track record of over 14 years. The company offers comprehensive services for wind projects, from conceptualization to project commissioning, including the construction of transmission infrastructure to evacuate power from these projects, providing turnkey solutions to developers on a plug-and-play basis. With a significant presence in Western India, Resco Global provides its services across the country and is developing large-scale common infrastructure at sites nationwide to support future renewable energy projects.

Expanding its EPC offerings, the company is entering the crane services market and creating new revenue streams by hybridizing its power evacuation assets. The latest renewable energy policies in various states allow for the hybridization of both existing and future transmission assets, offering additional revenue opportunities for asset owners like Resco Global. Inox Wind’s diversified order book of approximately 3 GW, along with a strong pipeline of order inflows, ensures robust revenue visibility for Resco Global.

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Inox Wind Ltd shares are trading at around Rs 223.35 per share. The company’s current market capitalization stands at Rs 29,107 crore. The stock has delivered a multibagger return of over 330 per cent in just 1 year.

As per the Quarterly Results, in the first quarter of FY24, Inox Wind Ltd recorded a revenue of Rs 639 crore. The operating profit stood at Rs 136 crore. The net profit was Rs 50 crore compared to a loss of Rs 65. 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), Corporations, and Retail Investors. Inox Wind Ltd operates as a fully integrated entity in the wind energy sector, providing end-to-end turnkey solutions.

Investors must keep this Small-Cap stock on their radar.

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