Inox Wind , a leading wind energy solutions provider in India, has reported a stellar performance for the first quarter, with significant growth in revenue and profitability.

Financial Highlights

Operational Performance

• Executed 146 MW of orders during the quarter
• Maintains a robust order book of approximately 3.1 GW

Key Developments

• Operationalized new manufacturing facilities in Gujarat and Rajasthan
• Deployed cranes across multiple sites
• Inox Green, the O&M subsidiary, secured a 182 MW wind project maintenance agreement
• Completed a major corporate restructuring with the merger of Inox Wind Energy Ltd, reducing liabilities by approximately ₹2,050 crore
• Received stock exchange approval for the demerger scheme of Inox Green's substation business

Management Commentary

Devansh Jain, Executive Director of INOXGFL Group, commented on the results: "I am pleased to announce that Inox Wind has delivered yet another solid quarterly performance. With the strategic actions almost behind us and backed by the solid foundation which Inox Wind has built over the last few years, the company is on a robust journey to deliver strong growth ahead."

Kailash Tarachandani, Group CEO of Renewable Business at INOXGFL Group, added: "Inox Wind continues to be the flagbearer of our renewables business vertical's growth, delivering yet another stellar quarter."

Future Outlook

The company's management expressed optimism about the future, citing favorable policies for domestic manufacturers and strong customer relationships. With a well-diversified order book and expanding capabilities, Inox Wind is well-positioned to capitalize on the growing opportunities in the Indian wind energy sector.

The robust performance in Q1 sets a positive tone for Inox Wind's growth trajectory, reflecting the company's strong market position and operational efficiency in the renewable energy space.

Inox Wind , a prominent player in the wind energy sector, has opened its rights issue for subscription, aiming to raise ₹1,250 crore. The company is offering shares at a significant discount, presenting an opportunity for existing shareholders to increase their stake.

Rights Issue Details

Key Highlights

• The rights issue price of ₹120.00 per share represents a substantial discount to the current market price, potentially making it an attractive proposition for eligible shareholders.
• Existing shareholders have the opportunity to maintain or increase their proportionate ownership in the company at a lower cost.
• The rights issue allows for both on-market and off-market renunciation, providing flexibility to shareholders who may not wish to exercise their rights.

Renunciation Deadlines

Market Performance

Inox Wind's stock has shown some volatility in recent times:

• Closed 1.20% lower on Tuesday
• Declined 15.00% over the past month

This rights issue comes at a time when the company's stock has experienced a downturn, potentially offering a strategic entry point for investors bullish on the company's prospects.

The success of this rights issue could provide Inox Wind with additional capital to fund its operations, reduce debt, or invest in growth initiatives. Shareholders and potential investors should carefully consider the terms of the rights issue and their own investment objectives before making a decision.