Inox Wind Limited (IWL), a leading wind energy solutions provider in India, has announced significant new orders totaling 229 MW, reinforcing its position in the renewable energy sector. The company, part of the multi-billion-dollar INOXGFL Group, has secured these orders from prominent players in the renewable energy market.

Order Details

• 48 MW optional extension
• For 3.3 MW wind turbine generators
• Across multiple sites | | Repeat Order | 69 MW | Member of a large global clean energy company | - For a project in Maharashtra
• Follows a 153 MW order from March 2025 |

Both orders include limited-scope EPC (Engineering, Procurement, and Construction) services and multi-year operations & maintenance (O&M) services post-commissioning.

Strategic Implications

The new orders significantly strengthen Inox Wind's project pipeline and demonstrate the company's growing appeal to renewable energy developers. The repeat order, in particular, highlights the trust and satisfaction of existing customers with Inox Wind's technology and services.

Kailash Tarachandani, Group CEO Renewables of INOXGFL Group, expressed satisfaction with the orders, stating, "New customer orders as well as repeat orders from existing customers highlight the confidence which our clients place on our technology, execution capabilities, and long-term service excellence."

Future Outlook

Sanjeev Agarwal, CEO of Inox Wind Ltd, indicated that the company is in advanced discussions with multiple other customers for additional orders. The company aims to close FY26 with a net order book covering execution plans for the subsequent 18-24 months.

Company Profile

Inox Wind Limited offers end-to-end wind energy solutions, from concept to commissioning and O&M. The company has four state-of-the-art manufacturing plants across Gujarat, Himachal Pradesh, and Madhya Pradesh, with a manufacturing capacity of approximately 2.50 GW per annum. IWL's subsidiary, Inox Green Energy Services Ltd., is the only listed pure-play renewable O&M services company in India, managing a portfolio of about 13.00 GW of assets.

As Inox Wind continues to secure significant orders and expand its presence in India's renewable energy sector, it appears well-positioned for growth in the coming years. However, investors should continue to monitor the company's execution of these projects and its ability to secure future orders in this competitive and rapidly evolving market.

Inox Wind , a leading wind turbine manufacturer, has seen its shares climb nearly 8% since announcing its latest financial results on August 14. The company's strong performance and positive outlook have sparked investor interest, driving the stock price to ₹147.5.

Margin Guidance Upgrade

Inox Wind has raised its margin guidance for the current financial year to 18-19%, up from the previous 17-18%. This upward revision reflects the company's growing operational efficiency and improved financial performance.

Credit Rating Upgrade

Adding to the positive sentiment, Inox Wind's credit rating on long-term banking facilities has been upgraded to 'AA-' from 'A+'. This upgrade indicates high safety and very low credit risk, signifying the company's strong financial position and ability to meet its financial obligations in a timely manner.

Robust Order Book and Execution Plans

Inox Wind maintains a healthy order book of 3.1 GW, providing revenue visibility for the next two to three years. The company has reaffirmed its execution guidance of 1.2 GW for FY26 and 2 GW for FY27, demonstrating its confidence in meeting growing demand.

Q1 Performance and Capacity Expansion

In the first quarter, Inox Wind completed 146 MW of execution, showcasing its operational capabilities. The company has also made significant strides in expanding its manufacturing capacity, commissioning a new 1,200 MW manufacturing unit in Gujarat.

Strategic Initiatives

Inox Wind has successfully completed a rights issue of ₹1,249.00 crore, strengthening its financial position. The company is also setting up a new facility in southern India to improve access to wind sites, indicating its commitment to strategic expansion.

Analyst Outlook

JM Financial has maintained a 'buy' rating on Inox Wind, revising its target price to ₹158.00. This positive analyst sentiment aligns with the company's improved performance and growth prospects.

Future Prospects

With its upgraded credit rating, improved margin guidance, and strategic expansion plans, Inox Wind appears well-positioned to capitalize on the growing demand for renewable energy solutions in India. The company's focus on operational efficiency and capacity expansion could drive further growth in the coming quarters.

As the renewable energy sector continues to gain momentum in India, Inox Wind's strong order book and execution capabilities place it in a favorable position to benefit from the industry's growth trajectory.