Inox Wind reports turnaround Q2 numbers

Inox Wind reported a consolidated net profit (from continuing operations) of Rs 90.22 crore in Q2 FY25 as against a net loss of Rs 29.23 crore posted in Q2 FY24.

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 companys 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 Winds 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 Indias 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, IWLs 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 News