Shares of Inox Wind Ltd (IWL) skyrocketed 12% on Friday, 7 March, after the company announced securing a 153 megawatts (MW) order from a renewable energy developer who is a member of a significant international clean energy organization.

For the project in Tamil Nadu, IWL will supply its 3 MW class turbines and oversee maintenance and post-commissioning activities. Investors were happy with the development since it expanded the company’s order book and income funnel. The contract also includes a limited-scope EPC component.

When the order was placed, Inox Wind reported a sharp rise in its quarterly profits. The consolidated profit after tax (PAT) for the October-December quarter was Rs 239 crore, up from Rs 33 crore during the same time the previous year. 

The company’s order book at the end of Q3 FY25 reached 3,286 MW, marking a 28% increase from 2,575 MW. Group CEO Kailash Tarachandani said that IWL is expanding its clientele while maintaining an execution-focused approach as India’s renewable energy sector expands.

With a growing order pipeline and improved financials, Inox Wind’s most recent order win has bolstered investor confidence in the company’s future.

At 12:43 pm, the shares of Inox Wind were trading 10:61% higher at Rs 169.45 on NSE.

Wondering About Inox Wind Ltd? The Analyst Has Answers.

The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app todayand 10x your trading & investing journey!