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Inox Wind Ltd News

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 surges 15% as promoter completes Rs 900 crore fund infusion
Updated On : 04 Jul 2024 | 11:28 AM IST

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

Inox Wind to become a debt-free company after promoter infuses Rs 900 cr
Updated On : 04 Jul 2024 | 10:50 AM IST

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.

Crisil upgrades its outlook on Inox Wind's bank facilities to stable
Updated On : 12 Jun 2024 | 3:53 PM IST

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

Promoter of Inox Wind divests 4.6% stake for Rs 904 cr via open market
Updated On : 28 May 2024 | 11:35 PM IST

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

Block deal alert! Inox Wind stock sinks 10% after 12 mn shares change hands
Updated On : 28 May 2024 | 11:10 AM IST

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.

This smallcap stock has zoomed 463% in 1 yr; trades 3:1 ex-bonus on Friday
Updated On : 24 May 2024 | 1:09 PM IST

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 Q4 results: Net profit at Rs 37 crore, order book at 2.7 GW
Updated On : 03 May 2024 | 7:34 PM IST

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 board cleares bonus issue in 3:1 ratio to its shareholders
Updated On : 25 Apr 2024 | 6:10 PM IST

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

Inox Wind bonus issue plan: Board meet on April 25; stock zooms 9%
Updated On : 23 Apr 2024 | 1:20 PM IST

Inox Wind bags repeat order for 210 MW project from Hero Future Energies

Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd's state-of-the-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises equipment supply with certain add-on services, according to the statement. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India. Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces the confidence in our 3MW WTGs, being one of the most efficient turbines in its class. The addition of this order further re-emphasises our growth outlook.

Inox Wind bags repeat order for 210 MW project from Hero Future Energies
Updated On : 19 Apr 2024 | 10:41 AM IST

After up to 595% rally in 1 year, wind energy stocks hit by policy overhang

Shares of companies involved in wind energy generation declined up to 5 per cent amid reports that the government may bring back reverse auctions in the wind energy sector

After up to 595% rally in 1 year, wind energy stocks hit by policy overhang
Updated On : 04 Mar 2024 | 1:54 PM IST

Inox Wind eyes profit in coming quarters amid market upswing: INOXGFL

Wind energy solution provider Inox Wind is likely to continue its growth trajectory after its business turned around in the December 2023 quarter, driven by a strong order book and higher revenues, a top official has said. Its parent INOXGFL Group's Executive Director Devansh Jain said the group firm is expected to continue to register a consistent rise in its profit after tax (PAT) over the next few quarters, backed by growth in business amid favourable market conditions. Inox Wind Limited (IWL) is a group company of USD 8 billion INOXGFL Group, engaged in the chemicals and renewables space. On Friday, Inox Wind posted a consolidated net profit of Rs 1.81 crore for the October-December 2023 period after reporting a back-to-back loss for the last five years. In a telephonic interaction, the executive director attributed "robust order book and revenue growth of over 100 per cent to Rs 506.88 crore, aided by advantageous market conditions" as the key factors leading to the turnaround

Inox Wind eyes profit in coming quarters amid market upswing: INOXGFL
Updated On : 11 Feb 2024 | 5:06 PM IST

Inox Wind Q3 results: Profit rises to Rs 1.81 cr on back of higher revenues

Inox Wind on Friday posted a consolidated net profit of Rs 1.81 crore in the December 2023 quarter on the back of higher revenues. It had suffered a loss of Rs 287.86 crore in the October-December quarter a year ago, Inox Wind said in an exchange filing. The company's total income rose to Rs 506.88 crore in the reporting quarter from Rs 237.68 crore in the year-ago period. In a separate statement, the company said its EBIDTA was at Rs 99.5 crore in the quarter against an EBITDA loss of Rs 172.5 crore in the same quarter of 2022-23. The company's orderbook stood at 2.6 GW, the statement said. Devansh Jain, Executive Director, INOXGFL Group said efforts put in over the last few quarters have yielded a remarkable turnaround for Inox Wind in the third quarter, which is reflected in the current order book and the reported numbers. "I firmly believe that we have just embarked on a massive growth journey. With all the levers aligned, which includes the strong promoter backing of the com

Inox Wind Q3 results: Profit rises to Rs 1.81 cr on back of higher revenues
Updated On : 09 Feb 2024 | 7:15 PM IST

Inox Wind ties up with German firm for new series of turbine generators

Homegrown Inox Wind on Tuesday said it has partnered with Germany-based Wind to Energy to introduce a new series of wind turbine generators in the domestic market. Under the agreement, Wind to Energy (W2E) will share its technology and design for the 4.X MW series wind turbine generators (WTG), Inox Wind Ltd (IWL) said in a statement. The new series of wind turbine generators has been designed for low wind regimes in India, the company said. Wind to Energy (W2E) is a global provider of technology and design for wind turbines. Inox Wind currently manufactures 2 MW and 3 MW turbines with multiple blades on existing licences with AMSC. The company will target installations of its 4.X MW series WTGs across various sites in the country. A 4.X MW series WTG can be upgraded with the use of boosters and Inox Wind will offer it in multiple blade and tower variants, it said. "The launch of 4.X MW wind turbines marks an important milestone for Inox Wind, as we continue on our exciting growt

Inox Wind ties up with German firm for new series of turbine generators
Updated On : 06 Feb 2024 | 7:35 PM IST

Inox Wind 3 MW WTGs make entry in MNRE's list of approved turbines

The government has included 3 megawatt (MW) wind turbine generators of wind energy solutions provider Inox Wind in its revised list of models and manufacturers, the company said in a statement. The Revised List of Models & Manufacturers (RLMM) of the Ministry of New and Renewable Energy (MNRE) includes quality-certified wind turbine models eligible for installation in the country to facilitate investors, lenders and developers. "The wind turbine generators (WTGs) will be available in multiple hub height variants, including 100m, 120m, and 140m. This turbine offers one of the lowest levelized costs of energy on a per unit basis given its compact design, resulting in lower costs of production, transport & logistics as well as installation, thereby giving the company a sustainable edge in the Indian market," Inox Wind said. With multiple orders in hand for the 3 MW WTGs, there will be a major ramp-up in the manufacturing and supplies of the turbines to meet the high demand. Inox .

Inox Wind 3 MW WTGs make entry in MNRE's list of approved turbines
Updated On : 29 Jan 2024 | 3:34 PM IST