Wednesday, February 19, 2025 | 08:35 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Inox Wind stock up 20% on heavy volumes; investors eye Q3 results on Jan 31

Inox Wind share price: Today's rise in Inox Wind share also comes after peer firm Suzlon Energy posted strong quarterly results for the October-December quarter of the current financial year (Q3FY25)

windmill, energy, Wind energy, Klettwitz Nord

Photo: PTI

Nikita Vashisht New Delhi

Listen to This Article

Inox Wind share price soared 19.9 per cent per share on the BSE on Wednesday. The stock hit an intraday high of Rs 161.85 per share during the day, and was trading 16.5 per cent higher at Rs 157.2 per share at 1:40 PM on January 29, 2025.    The surge in Inox Wind share price today was supported by heavy volumes. Till the time of writing this report, around 1.23 million shares had changed hands on the BSE as against a two-week average of 0.3 million.  Together with the volume on the NSE, a total of 47.12 million shares had changed hands on both the exchanges.  Today's rise in Inox Wind share also comes after peer firm Suzlon Energy posted strong quarterly results for the October-December quarter of the current financial year (Q3FY25).  On Tuesday, Suzlon Energy said its consolidated net profit in Q3FY25 climbed 91 per cent to Rs 387 crore as against Rs 203.04-crore profit reported a year ago (Q3FY24). The revenue of the company rose 91.2 per cent to Rs 2,968.81 crore year-on-year (Y-o-Y).    Operationally, Suzlon saw its Q3 Ebitda margin expand to 16.8 per cent from 15.9 per cent last year.  Suzlon Energy executed projects for 447 megawatt of energy, relative to estimates of 360 Mw, resulting in a top line of roughly Rs 3,000 crore. This beat the consensus estimate by 5 per cent. The execution uptick was aided by a capacity ramp up to 4.5 gigawatt (Gw). 

Inox Wind Q3 results date, time

  Notably, Suzlon's healthy numbers have given hopes to Inox Wind shareholders of robust December quarter results too.  Inox Wind is scheduled to report its Q3 results on January 31, 2025.  "We would like to inform you that a Meeting of the Board of Directors of Inox Wind Limited is scheduled to be held on Friday, January 31, 2025, to consider, approve and take on record the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2024," the company said in its stock exchange filing. 

Inox Wind Q3 results 2025 expectations

  Analysts at Systematix Institutional Equities expect Inox Wind's 3QFY25 consolidated revenue to surge 89 per cent Y-o-Y and 30 per cent Q-o-Q to Rs 950 crore, driven by improving deliveries of 3 Mw wind turbine generator (WTG) sets.  It estimates Q3FY25 execution to be 185 Mw, projecting a growth of 78 per cent Y-o-Y and 32 per cent Q-o-Q.  Consolidated Ebitda (excluding other income) is expected to reach Rs 175 crore during the quarter, up 89 per cent Y-o-Y and 2 per cent Q-o-Q. Besides, Ebitda margin is projected at 18.5 per cent this quarter.  "With our Q3 estimates, we expect Inox Wind FY25 annual execution to reach 734 Me (up 95 per cent Y-o-Y) compared to management’s guidance of 800 Mw. We anticipate better execution and commissioning in Q4FY25 with an anticipated pick up in EPC and continued ramp-up of manufacturing operations," the brokerage said in its Q3 result preview report.  On the order book front, Inox Wind closed Q2FY25 with a net order book of ~3,328 Mw, and the 87 Mw/60 Mw order win from Continuum Green Energy/Serentica Renewables for its 3 Mw WTGs is estimated to take the current order book to approximately 3,290 Mw, Systematix said.    "A stable order book enhances earnings stability and visibility. We remain positive on the sector tailwinds with a massive government push to enhance India's renewable energy (RE) capacity and the growing integration of wind capacities in the RE mix," Systematix said with a 'Buy' rating, valuing Inox Wind stock at 16x/15x FY26E/FY27E price-to-earnings (P/E). 

Inox Wind share price target

  With today's rally, Inox Wind stock is hovering near the 20-day moving average (20-DMA) of Rs 161, on the daily chart. If Inox Wind share manages to decisively conquer this level, the next resistance is placed at 50-DMA of Rs 180, followed by Rs 183.5 (200-DMA), and Rs 202 (100-DMA).

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 29 2025 | 2:39 PM IST

Explore News