Inox Wind climbs after order win

Inox Wind rose 1.61% to Rs 40.95 after the company announced new orders for the supply and installation of wind turbine generators of 40 megawatts from retail customers spread across various industries.

The projects will be executed on a turnkey basis across locations in Gujarat and Karnataka. The contracts include supply and commissioning of 2 MW DFIG 113 meters rotor diameter wind turbine generators (WTGs) as well as providing comprehensive operations and maintenance services for the life time of the project.

The orders are expected to be commissioned by March 2021. The company said it has further strengthened its order book with the fresh orders.

Shares of Inox Wind are up 5% in two sessions. The wind turbine maker reported a consolidated net loss of Rs 73.27 crore in Q1 June 2020, higher than net loss of Rs 14.27 crore in Q1 June 2019. The company's net sales declined 63% to Rs 96.67 crore in Q1 June 2020 over Q1 June 2019.

Inox Wind is a fully integrated player in the wind energy market with three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh. Inox Wind's manufacturing capacity stands at 1,600 MW per annum.

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