Inox Wind (IWL) has bagged an order for 87 MW from Continuum Green Energy (Continuum), a leading renewables C3.4 GW, the highest ever in its history.Powered by Capital Market - Live

Revenue from operations surged 97.56% year on year to Rs 732.24 crore in the quarter ended 30 September 2024. Total income from operations stood at Rs 741.74 crore in Q2 FY25, registering a growth of 92.96% as against Rs 384.4 crore recorded in the corresponding quarter previous year. The company reported profit before tax of Rs 93.81 crore in Q2 FY25 as compared to a loss before tax of Rs 28.17 crore recorded in Q2 FY24. Consolidated EBITDA was at Rs 189 crore in Q2 FY25, zoomed 171% as compared with Rs 70 crore reported in the same period a year ago. IWL delivered another quarter of strong results in Q2FY25 and is on course to achieve its best ever full year profitability in FY25. The company's order book at 3.3 GW has increased by 161% YoY and comprises of a healthy mix of PSU, IPP, C&I and retail customers. In H1 FY25, IWL secured orders totalling 1.2 GW across multiple customers and is negotiating for multiple additional orders as it targets 2 GW of execution in FY27. Devansh Jain, Executive Director, INOXGFL Group, said on the occasion, 'The strong Q2 performance is another firm indication of the massive growth trajectory that Inox Wind is poised to deliver. I am especially pleased that on the back of the tremendous efforts put by our team over the past two years, our balance sheet has now become net cash and we have delivered positive operational cash flows in H1 FY25, which is bound to significantly increase going ahead. I am thankful to all our stakeholders for their support and am confident of significant value creation going ahead as we strive to deliver beyond expectations.' Kailash Tarachandani, CEO of Inox Wind, said, 'I am glad that despite the seasonal challenges, we have been able to deliver robust numbers in Q2. I am very excited by the prospects of H2, as we surge ahead to deliver on our commitments. We are also focusing on several means to increase our profits in the years ahead with the launch of larger blades, commercialisation of new products and backward integration. While we have added 1.2 GW of fresh orders in the first half of FY25 to take our orderbook to 3.3 GW, which is the highest ever in Inox Wind's history, given the multiple ongoing negotiations with new and existing customers, we are confident of adding more in the coming months.' Inox Wind (IWL) is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 12 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals - chemicals and renewable energy. IWL is a fully integrated player in the wind energy market with four state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured. With its state-of-the-art 3 MW series WTG offering, IWL's manufacturing capacity stands at 2.5 GW per annum. Shares of Inox Wind slipped 2.94% to end at Rs 203 on the BSE.Powered by Capital Market - Live

Net profit of Inox Wind reported to Rs 92.89 crore in the quarter ended September 2024 as against net loss of Rs 24.12 crore during the previous quarter ended September 2023. Sales rose 97.56% to Rs 732.24 crore in the quarter ended September 2024 as against Rs 370.64 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales732.24370.64 98 OPM %23.6213.04 - PBDT138.16-1.89 LP PBT93.81-28.14 LP NP92.89-24.12 LP Powered by Capital Market - Live

Inox Wind will hold a meeting of the Board of Directors of the Company on 25 October 2024.Powered by Capital Market - Live

The domestic equity benchmarks pared most the gains and traded with minor gains in early afternoon trade. The Nifty traded below the 25,900 level. Realty shares advanced for the third consecutive trading sessions. At 12:30 IST, the barometer index, the S&P BSE Sensex, rose 128.98 points or 0.15% to 84,673.29. The Nifty 50 index rose 77.35 points or 0.30% to 25,868.30. The Sensex and Nifty clocked an all-time high of 84,881.73 and 25,925.80, respectively in morning trade. In the broader market, the S&P BSE Mid-Cap index added 0.46% and the S&P BSE Small-Cap index rose 0.67%. The market breadth was strong. On the BSE, 2,376 shares rose and 1,586 shares fell. A total of 160 shares were unchanged. Economy: The headline HSBC Flash India Composite Output Index dipped to 59.3 in September from 60.7 in August. The index pointed to another rapid monthly increase in business activity, albeit one that was the least pronounced in 2024 so far. Softer expansions were seen across both the manufacturing and services sectors. The HSBC Flash India Manufacturing PMI posted 56.7 in September, down from 57.5 in August. The reading signaled a further marked strengthening in business conditions for goods producers, but the rate of improvement was the softest since January. Further, India's forex reserves rose by $223 million to a new all-time high of $689.458 billion for the week ended on September 13, according to the Reserve Bank data released on Friday. The overall forex kitty had jumped by $5.248 billion to a high of $689.235 billion for the previous reporting week ended on September 6. The foreign currency assets decreased by $515 million to $603.629 billion, the data showed. Gold reserves increased by $899 million to $62.887 billion during the week, the RBI said. The Special Drawing Rights (SDRs) dropped by $53 million to $18.419 billion, the apex bank said. India's reserve position with the IMF declined by $108 million to $4.523 billion in the reporting week, the apex bank data showed. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.33% to 13.60. The Nifty 26 September 2024 futures were trading at 25,874.65, at a premium of 6.35 points as compared with the spot at 25,868.30. The Nifty option chain for the 26 September 2024 expiry showed maximum Call OI of 111.6 lakh contracts at the 27,000 strike price. Maximum Put OI of 118.2 lakh contracts were seen at 25,000 strike price. Buzzing Index: The Nifty Realty index rose 1.66% to 1,119.85. The index jumped 5.27% in the three consecutive trading sessions. Godrej Properties (up 5.05%), DLF (up 2.78%), Sobha (up 2.62%), Macrotech Developers (up 2.01%) and Oberoi Realty (up 1.9%), Prestige Estates Projects (up 1.63%), Mahindra Lifespace Developers (up 0.98%) and Brigade Enterprises (up 0.61%) added. On the other hand, Phoenix Mills (down 2.55%), Sunteck Realty (down 0.4%) slipped. Stocks in Spotlight : Inox Wind (IWL) rose 0.79%. The company said that it has signed a consortium agreement with a group of 10 banks, led by ICICI Bank along with a host of marquee private and foreign banks, for obtaining credit limits of nearly Rs 2,200 crore. Doms Industries rose 0.22%. The company said that it has acquired 51.77% equity stake in Uniclan Healthcare to expand its distribution network. The company has acquired 7,116,080 equity shares of Uniclan for a total consideration of Rs 54.88 crore. Aster DM Healthcare added 0.78%. The company said that its wholly owned subsidiary, Sri Sainatha Multispecialty Hospitals has entered into lease agreement with Aparna Constructions and Estates for setting up new Aster Woman and Children Hospital in Hyderabad.Powered by Capital Market - Live

Inox Wind (IWL) has signed a consortium agreement with a group of banks led by ICICI Bank for limits of ~ Rs 2,200 crore. 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). The limits extended are largely non-fund based [bank guarantees (BGs) and letter of credits (LCs)]. 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 (GFL). IWL's recent fund raises as well as its operational ramp up have led to its balance sheet becoming net cash positive. 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.Powered by Capital Market - Live

As part of the project, Inox Wind will supply, install and commission the wind turbine generators (WTGs), and provide multi-year comprehensive operations & maintenance (O&M) services post commissioning. The project will be executed over the next 24 months across multiple sites in the states of Gujarat, Rajasthan and Madhya Pradesh. The 550 MW LoI is over and above the firm order of 200 MW received in the past, and takes IWL's orderbook to more than 3.5 GW. Kailash Tarachandani, Group CEO, Inox Wind, said, This is yet another milestone for Inox Wind and puts our company on a firm footing to achieve our 2 GW annual execution vision, which we aim to accomplish in FY27 with our large orderbook. With robust sectoral tailwinds and IWL's strong positioning having all the levers in place, we are primed to capitalize on the large opportunity in the sector over the next decade.' Inox Wind is a wind energy solutions provider in India, catering to IPPs, utilities, PSUs, and corporate investors. It is part of the INOXGFL Group, with a focus on chemicals and renewable energy. IWL is fully integrated in the wind energy market, with four manufacturing plants and a capacity of over 2 GW per annum. The company reported a consolidated net profit (from continuing operations) of Rs 47.17 crore in Q1 FY25 as against a net loss of Rs 64.88 crore posted in Q1 FY24. Revenue from operations surged 83.18% year on year to Rs 638.81 crore in the quarter ended 30 June 2024. The scrip shed 0.27% to currently trade at Rs 244.10 on the BSE. Powered by Capital Market - Live

Inox Wind (IWL) has received a Letter of Intent (LoI) from IGREL Renewables (IGREL) for execution of 550 MW wind capacity on turnkey basis. As part of the project, Inox Wind will supply, install and commission the Wind Turbine Generators (WTGs), and provide multi-year comprehensive operations 3.5 GW. Powered by Capital Market - Live

Inox Wind announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2024.Powered by Capital Market - Live

Resco Global Wind Services is amongst the top 2 wind EPC service providers in India with a strong operational track record of more than 14 years. The company offers end-to-end services for wind projects right from conceptualization stage up to project commissioning, as well as the construction of transmission infrastructure to evacuate power from such projects, offering turnkey solutions to developers on plug-and-play basis. The investors that have invested in Global Wind Services are Valrado Venture Partners Fund II, Anchorage Capital Scheme I (A Scheme of Anchorage Fund), JM Financials Products, Founders Collective Fund, One Up Financial Consultants, Authum Investments & Infrastructure and Capri Global Holdings. The funds will be utilized to scale up the business offerings and capitalize on the large-scale opportunities in the Indian wind sector. Expanding offerings under EPC, the company is venturing into crane services and unlocking new revenue streams through hybridization of its power evacuation assets. The latest renewable energy policies of multiple states allow hybridization of existing as well as future transmission assets, providing incremental revenues to asset owners including Resco Global. Inox Wind's large and well diversified orderbook of 3 GW, with a healthy order inflow pipeline, provides strong revenue visibility for Resco Global. Inox Wind is a wind energy solutions provider in India, catering to IPPs, utilities, PSUs, and corporate investors. It is part of the INOXGFL Group, with a focus on chemicals and renewable energy. IWL is fully integrated in the wind energy market, with four manufacturing plants and a capacity of over 2 GW per annum. The company reported a consolidated net profit (from continuing operations) of Rs 47.17 crore in Q1 FY25 as against a net loss of Rs 64.88 crore posted in Q1 FY24. Revenue from operations surged 83.18% year on year to Rs 638.81 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live