Inox Wind

Inox Wind secures 60 MW equipment supply order from Serentica Renewables

Inox Wind (IWL) on Wednesday said it has secured a 60 MW equipment supply order from Serentica Renewables. This order is for the supply of 3 MW class wind turbines. This order is to be delivered within H1 CY25 and it will be installed at the hybrid renewable energy project site being developed by Serentica Renewables in Karnataka, the company said in a statement. Additionally, IWL will provide multi-year post-commissioning Operations & Maintenance (O&M). The power generated from this project will be supplied to Serentica's partners, including the Vedanta Group. Kailash Tarachandani, Group CEO, Inox Wind said in the statement, "We are extremely pleased to establish our relationship with Serentica with this 60 MW equipment supply order. Akshay Hiranandani, CEO of Serentica Renewables, said, "Our collaboration with Inox Wind for this 60 MW wind project in Karnataka marks another significant milestone in our journey to deliver reliable and green energy to our partners, including .

Inox Green, Inox Wind shares gain up to 4% on Group's foray into solar mfg

Inox Green rose up to 4.40 per cent to hit an intraday high of Rs 182.50 per share, while Inox Wind increased as much as 1.60 per cent to an intraday high of Rs 211.50 per share

Inox Wind shares gain 7% after swinging into Rs 90-cr profit in Q2FY25

Inox Wind posted a net profit of Rs 90.2 crore for the quarter ended September 30, helped by higher income

Inox Wind Q2 results: Profit increases to Rs 90 cr, revenue at Rs 742 cr

Inox Wind Ltd (IWL) on Friday posted a net profit of Rs 90.20 crore for the quarter ended September 30, helped by higher income. It had incurred a loss of Rs 26.84 crore in the July-September period of FY24, the company said in an exchange filing. Total income increased to Rs 741.74 crore from Rs 384.40 crore in the year- ago period. Expenses too rose to Rs 647.93 crore from Rs 412.54 crore. n a separate statement, the company said its order book touched 3.3 gigawatt (GW), which includes 1.2 GW of fresh orders in the first half of FY25. During the quarter, Inox Wind signed a consortium agreement with banks for Rs 2,200 crore facilities, largely non-fund based, sanctioned on the financial strength of IWL's balance sheet. Its subsidiary Resco Global raised Rs 350 crore equity capital from marquee investors. The company's listed subsidiary Inox Green Energy Services Ltd has reported a profit of Rs 6.06 crore as against Rs 5.76 crore in the same quarter of 2023-24. It had an income o

Inox Wind secures Rs 2,200 cr financing deal with ICICI Bank-led consortium

Wind energy solutions provider Inox Wind on Monday said it has signed an agreement with a consortium led by ICICI Bank to tie up Rs 2,200 crore finance facility. This limit is likely to be enhanced further to Rs 2,400 crore as per the working capital assessment done by the lead bank (ICICI Bank), Inox Wind Limited (IWL) said in a statement. The consortium agreement was signed with a group of banks led by ICICI Bank for limits of Rs 2,200 crore. The limits are largely non-fund (bank guarantees and letter of credits) based, the statement said. The limits have been sanctioned on the financial strength of IWL's balance sheet and without the requirement of any corporate guarantees or any other support from Gujarat Fluorochemicals Ltd (GFL). With this arrangement in place, any prior corporate guarantee or any other such support extended to IWL by GFL stands vacated/to be vacated in the near future, it said. "The consortium arrangement reposes the confidence of the banking community in I

Inox Wind up 3%; receives LoI from IGREL Renewables for 550 Mw wind project

Inox Wind share price: The project, Inox Wind said, will be executed over the next 24 months across multiple sites in the states of Gujarat, Rajasthan, and Madhya Pradesh

Inox Wind, Inox Wind Energy zoom up to 36% in 2 days on strong earnings

Shares of INOXGFL Group companies Inox Wind Energy (IWEL) and Inox Wind were on a roll and rallied up to 36% in past two days after the companies reported strong earnings and healthy outlook.

Ola, SMS Life, IWEL, GMR Power, Suzlon and 356 others hit upper circuit

Genus Power Infrastructure, Shakti Pumps (India), Gallant Ispat, Suraj Estate Developers, Panacea Biotec, Suzlon and Elpro Intl among BSE Allcap index were frozen at the highest limit for the day.

Brokerages hike target for Inox Wind, expect strong execution; stock up 19%

Shares of Inox Wind surged up to 9 per cent at Rs 189.90 per share on the BSE in Monday's intraday trade

Inox Wind Q1 results: PAT rises to Rs 50 cr, revenue surges to Rs 651 cr

Inox Wind Limited (IWL) on Friday posted a Rs 50 crore profit after tax during the June quarter on account of a surge in income. It had reported a loss of Rs 65 crore in the April-June quarter of the preceding financial year, the company said in an exchange filing. The company's total revenue surged 85 per cent to Rs 651 crore from Rs 352 crore in the year-ago period. Devansh Jain, Executive Director, INOXGFL Group, said "The hard work of last several years has started to yield results. Also, IWL's parent, IWEL has infused Rs 900 crore recently, making the company net cash positive and strengthening the balance sheet to capitalise on the multidecadal opportunity in the Indian wind sector." The company has an orderbook of around 2.9 gigawatt, IWL CEO Kailash Tarachandani said adding the company won orders of 611 MW in the ongoing FY25.

Inox Wind secures 201 MW project from Integrum Energy Infrastructure

Wind energy solutions provider Inox Wind on Tuesday said it has secured an order for a 201 MW project from Integrum Energy Infrastructure. This is an equipment supply order for IWL's latest 3 MW Wind Turbine Generators (WTGs), a company statement said, adding that Inox Wind will also provide post-commissioning multi-year operations and maintenance (O&M) services. The project will be executed across four states -- Madhya Pradesh, Rajasthan, Karnataka and Maharashtra. According to the statement, Inox Wind has bagged an order for 201 MW from Integrum Energy Infrastructure Ltd, a leading C&I (Industrial and Commercial) player. Inox Wind CEO Kailash Tarachandani said, "Integrum has been a longstanding partner for us, and we are delighted that they have reaffirmed their faith in our product and solutions with this large equipment supply order for 201 MW". Integrum Energy founder and CEO Anand Lahoti said, "Integrum is on a strong growth journey, focusing on providing hybrid ...

Inox Wind surges 15% as promoter completes Rs 900 crore fund infusion

The company said the funds will be utilised by IWL to completely pare down its external term debt to achieve a net debt free status.

Inox Wind to become a debt-free company after promoter infuses Rs 900 cr

Inox Wind Ltd on Thursday said its promoter Inox Wind Energy (IWEL) has infused Rs 900 crore into the company, following which the wind energy solutions provider will become a net debt-free company. In a statement Inox Wind Ltd (IWL) on Thursday announced the completion of infusion of Rs 900 crore into the company by its promoter Inox Wind Energy Ltd (IWEL). "This fund infusion will help us become a net debt-free company, strengthening our balance sheet and help accelerate our growth. We expect substantial savings in interest expenses going ahead, aiding our profitability further," Kailash Tarachandani, CEO of Inox Wind said. The funds were raised by the IWEL on May 28, 2024, through sale of equity shares of IWL through block deals on the stock exchanges, witnessing participation of several marquee investors, as per the company statement. The funds will be utilised by Inox Wind Ltd to completely pare down its external term debt to achieve a net debt-free status, it added. Net Debt

Crisil upgrades its outlook on Inox Wind's bank facilities to stable

Inox Wind Ltd on Wednesday said Crisil has upgraded its outlook on the company's long-term and short-term bank facilities. Crisil has upgraded rating for long-term bank facilities to 'Crisil A/Stable' from 'Crisil A-/Stable', while on company's short-term bank facilities, the agency has upgraded ratings to Crisil A1 from Crisil A2+, Inox Wind said in an exchange filing. Kailash Tarachandani, CEO of Inox Wind, said: "The latest ratings upgrade by Crisil is an outcome of all the efforts undertaken by the company in the recent past. We have successfully raised funds to strengthen our balance sheet and also ramped up our operations." Inox Wind has an order book of 2.7 GW of wind power projects.

Promoter of Inox Wind divests 4.6% stake for Rs 904 cr via open market

Inox Wind Energy, one of the promoters of Inox Wind Ltd, on Tuesday divested a 4.6 per cent stake in the company for Rs 904 crore through open market transactions. Inox Wind is India's leading wind energy solutions provider. It is a subsidiary of Inox Wind Energy Ltd (IWEL). According to the bulk deal data available on the National Stock Exchange (NSE) and the BSE, Inox Wind Energy sold a total of 6 crore shares on the bourses, amounting to a 4.6 per cent stake in Noida-based Inox Wind Ltd. Shares of Inox Wind tumbled 10 per cent each to close at Rs 147.65 and 147.75 per piece on the BSE and NSE, respectively. IWEL offloaded 5.50 crore shares of Inox Wind on the NSE and the promoter entity sold 50 lakh shares of the company on the BSE. The shares were disposed of in the range of Rs 150.58-152.52 apiece, taking the transaction value to Rs 904.45 crore. After the stake sale, shareholding of Inox Wind Energy declined to 33.83 per cent from 38.43 per cent in Inox Wind. Also, the comb

Block deal alert! Inox Wind stock sinks 10% after 12 mn shares change hands

Inox Wind block deal: At 9:15 AM, nearly 12.47 million shares changed hands on the BSE at a price of Rs 151 per share

This smallcap stock has zoomed 463% in 1 yr; trades 3:1 ex-bonus on Friday

Inox Wind stock update: The stock hit a record high of Rs 166 and was locked at the 10% upper circuit on turning ex-bonus on Friday.

Inox Wind Q4 results: Net profit at Rs 37 crore, order book at 2.7 GW

Inox Wind Ltd on Friday reported a consolidated profit of Rs 36.72 crore for the March 2024 quarter, mainly due to increased income. It had posted a net loss of Rs 119.04 crore in the January-March period of the preceding fiscal, the company said in an exchange filing. During the fourth quarter of FY24, the company's total income surged to Rs 563.07 crore from Rs 193.83 crore a year ago. The company's expenses stood at Rs 512.50 crore during the period under review against Rs 312.43 crore in the year-ago period. Kailash Tarachandani, CEO of Inox Wind, said, "Q4 has been a milestone quarter for the company as we successfully transitioned to 3 MW WTG (wind turbine generators) supplies from 2 MW WTGs. Our debt levels have also come down drastically and we expect to be net debt free within H1 FY25". The company secured the single largest wind project order of 1,500 MW from a leading power utility during the quarter, resulting in a healthy order book of 2.7 GW (excluding letter of inte

Inox Wind board cleares bonus issue in 3:1 ratio to its shareholders

Wind energy solutions provider Inox Wind on Thursday said its board of directors have cleared a proposal to issue bonus shares in the ratio of 3:1 to its shareholders. The bonus shares shall be issued to the shareholders whose names appear in the Register of Members as on the 'Record Date', a company statement said. According to the statement, Inox Wind Ltd Board of Directors at its meeting held on April 25, 2024 has proposed the issuance of three bonus equity shares for every one existing equity share out of the accumulated reserves of the company. The issuance of bonus shares will not only bolster the capital base of the company without any cash outflow but will also enhance the liquidity of Inox Wind's shares, broadening participation of a wider set of investors, it stated. Over the course of financial year 2023-24, Inox Wind turned profitable in the September-December 2023 quarter on the back of a significant ramp up in business operations. Moreover, over the course of the pas

Inox Wind bonus issue plan: Board meet on April 25; stock zooms 9%

This comes after the company announced that its board of directors will meet on April 25, to consider and approve the proposal for issuance of bonus equity shares to the shareholders of the company