Shares of Inox Wind Ltd. surged over 13% to hit a document excessive for the second day in a row on Tuesday after it bagged a 51 megawatt tools provide order from a Tamil Nadu shopper, at the same time as buyers proceed to stay bullish following its spectacular first-quarter earnings.
The corporate has bagged the tools provide order from Everrenew Power Pvt. for its 3 MW-class wind turbine mills. Moreover, Inox Wind will present post-commissioning, multi-year operations, and upkeep companies. The venture will probably be executed in Tamil Nadu.
The inventory continued its Monday momentum after the wind turbine generator maker introduced a internet revenue of Rs 50 crore within the quarter ended June 2024, in comparison with a lack of Rs 65 crore within the year-ago interval.
Inox Wind’s order e book on the finish of the primary quarter provides the corporate massive income visibility for the following two years, in line with Devansh Jain, government director of the Inox Group. It stood at 2,917 megawatts within the April-June interval, in comparison with 2,446 megawatts initially of the monetary yr.
The corporate at present earns round Rs 6 crore per megawatt, Jain stated. This implies the corporate’s present order e book may have a income potential of Rs 17,502 crore over the following two years.
