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Inox Wind Limited (IWL), a leading provider of wind energy solutions in India, has announced impressive financial results for the quarter ending June 30, 2024.
Financial Highlights for Q1 FY25:
- Consolidated Revenue: ₹651 crore, an 85% increase compared to ₹352 crore in Q1 FY24 and a 16% rise from ₹563 crore in Q4 FY24.
- Consolidated EBITDA: ₹157 crore, up 349% from ₹35 crore in Q1 FY24 and up 12% from ₹140 crore in Q4 FY24.
- Profit After Tax: ₹50 crore, recovering from a loss of ₹65 crore in Q1 FY24 and a 33% increase from ₹38 crore in Q4 FY24.
- Cash PAT: ₹92 crore, compared to a loss of ₹36 crore in Q1 FY24 and a 14% increase from ₹81 crore in Q4 FY24.
Operational and Order Book Highlights:
- Execution: 140 MW, a 112% increase from 66 MW in Q1 FY24 and a 9% rise from 129 MW in Q4 FY24.
- Order Book: 2,917 MW, a substantial 254% increase from 825 MW in Q1 FY24 and a 10% rise from 2,656 MW in Q4 FY24.
Inox Wind’s growth trajectory is underscored by its robust order book exceeding 2.9 GW, with new orders totaling 611 MW secured in the early months of FY25. The company’s diverse customer base includes PSUs, IPPs, C&I, and retail clients.
Devansh Jain, Executive Director of INOXGFL Group, attributed the company’s strong performance to years of hard work and favorable macroeconomic conditions. He also highlighted the recent infusion of ₹900 crore from IWEL, Inox Wind’s parent company, which has rendered the company net cash positive and bolstered its balance sheet to seize opportunities in the Indian wind sector.
Kailash Tarachandani, CEO of Inox Wind, expressed optimism about FY25, citing a solid start to the year with existing manufacturing capacities and a substantial order book. He noted that the ₹900 crore infusion has improved the company’s financial health by reducing interest payments and enhancing profitability. Tarachandani emphasized the company’s confidence in leveraging strong sectoral tailwinds to capitalize on growth opportunities in the Indian wind energy market.
