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Inox Wind gains on order win

Capital Market 

Inox Wind rose 2.06% to Rs 69.45 after the company bagged orders worth 62 mega-watt (MW) turnkey wind power project orders from IPPs and retail customers spread across various industries for third party sales and captive consumption.

The projects will be executed on a turnkey basis across locations in Gujarat and Karnataka. The contracts include supply and commissioning of 2 mega-watt (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 September 2021. The company said it has further strengthened its order book with the fresh orders. The announcement was made before market hours today, 17 February 2021.

On a consolidated basis, Inox Wind reported net loss of Rs 51.97 crore in Q3 December 2020 as compared to a net loss of Rs 27.47 crore in Q3 December 2019. Net sales surged 18% to Rs 203.80 crore in Q3 December 2020 over Q3 December 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 mega-watt (MW) per annum.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, February 17 2021. 10:28 IST