By Mohit Bhambhani
Understanding Inox Wind’s business, and the project pipeline, revenues expected in future and their impact on stock price. Also, understanding the guidance provided by company, credit rating, and Analysts views on the stock.
Inox Wind’s stock price has shown a 48% growth over last one year. That’s impressive when compared with the market return of 8.6%. And as will see, this is not without reason too. In fact a research house recently predicted a further upside for Inox Wind, based on its estimates. Let’s find out what’s going on at Inox Wind, and why it turned in a relatively solid stock price performance.
Let us start with understanding Inox Wind’s business and company’s guidance for FY25 and FY26.
Inox Wind’s Business
Inox Wind is a part of INOXGFL Group which has a legacy of over nine decades. The INOXGFL Group is primarily focused on Chemicals and Renewable energy. With over 13 years of operational track record, Inox Wind provides end to end turnkey solutions, as well as equipment supply for the wind energy market. The company is a fully integrated wind energy player providing end-to-end solutions from commissioning to execution to Operations and maintenance (O&M).
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The company has manufacturing capacity of over 2.5GW across its 4 facilities in Gujarat, Madhya Pradesh, and Himachal Pradesh, and its product portfolio includes 2MW and 3MW Wind Turbine Generators (WTGs), while the company has secured license for 4MW WTGs also. The company also has a robust order book of over 3.3GW with a large order pipeline.
Inox Wind Ltd. has two subsidiaries viz.
- Inox Green Energy Services Ltd. – only listed wind O&M services company of India
- Resco Global Wind Services Pvt. Ltd. – provides EPC services and other services for wind projects.
The company completed 189MW of execution in Q3 FY25, an 82% growth as compared to Q3 FY24. The execution increased to 469MW in 9M FY25, a 90% growth over 9M FY24. And the company has provided the guidance for FY25 and FY 26.
As per FY25 guidance provided by the company,
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