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Inox Wind shares surge 20% on strong sales

Inox Wind share price jumped 19.9 per cent on the BSE on Wednesday. The stock touched an intraday high of Rs 161.85 per share during the day and was trading 16.5 per cent higher at Rs 157.2 per share at 1:40 pm on January 29, 2025.

The surge in Inox Wind share price today was supported by massive volumes. At the time of writing this report, around 1.23 million shares were traded on the BSE, as against the two-week average of 0.3 million.

With volumes on the NSE, a total of 47.12 million shares were traded on both exchanges.

The surge in Inox Wind share price today also comes after peer firm Suzlon Energy posted strong quarterly results for the October-December quarter of the current financial year (Q3FY25).

On Tuesday, Suzlon Energy said its consolidated net profit grew 91 per cent to Rs 387 crore in the third quarter of FY25 as against a profit of Rs 203.04 crore reported a year ago (Q3 FY24). The company’s revenue grew 91.2 per cent year-on-year (Y-o-Y) to Rs 2,968.81 crore.

Operations-wise, Suzlon saw its Q3 Ebitda margin expand to 16.8 per cent from 15.9 per cent last year.

Suzlon Energy executed projects for 447 MW of energy against estimates of 360 MW, resulting in a top line of around Rs 3,000 crore. This is 5 per cent higher than consensus estimates. The acceleration in execution was aided by a capacity ramp up to 4.5 gigawatt (Gw).

Inox Wind Q3 Results Date, Time

Notably, the healthy numbers from Suzlon have given Inox Wind shareholders hope for strong December quarter results as well.

Inox Wind is scheduled to report its Q3 results on January 31, 2025.

“We wish to inform you that the meeting of the Board of Directors of Inox Wind Limited will be held on Friday, January 31, 2025 to consider, approve and take on record the unaudited standalone and consolidated financial results of the company for the quarter and nine months ended December 31, 2024,” the company said in its stock exchange filing.

What to expect from Inox Wind Q3 2025 results

Analysts at Systematics Institutional Equities expect Inox Wind’s 3QFY25 consolidated revenue to grow 89 per cent year-on-year and 30 per cent quarter-on-quarter to Rs 950 crore, driven by improved deliveries of 3 MW wind turbine generator (WTG) sets.

It has forecast execution of 185 MW in Q3 FY25, up 78 per cent year-on-year and 32 per cent quarter-on-quarter.

Consolidated Ebitda (excluding other income) is expected to reach Rs 175 crore during the quarter, up 89 per cent year-on-year and 2 per cent quarter-on-quarter. Further, Ebitda margin is estimated at 18.5 per cent in the quarter.

The brokerage said in its third quarter results preview report, “As per our Q3 estimates, we expect Inox Wind’s FY25 annual execution to reach ~734 million (95 per cent YoY growth), while management has guided for 800 MW.

We expect better execution and commissioning in Q4 with expected growth in EPC and continued ramp-up in manufacturing operations.” On the order book front, Inox Wind closed Q2 with a net order book of ~3,328 MW, and winning an 87 MW/60 MW order for its 3 MW WTG from Continuum Green Energy/Servantica Renewables is expected to take the current order book to around 3,290 MW, Systematics said. “Stable order book enhances earnings stability and visibility.

With the massive efforts being undertaken by the government to enhance India’s renewable energy (RE) capacity and the increasing integration of wind power capacities in the RE mix, we remain positive on the sector tailwinds,” Systematics said with a ‘buy’ rating, valuing Inox Wind stock at 16x/15x FY26E/FY27E price-to-earnings (P/E).

Inox Wind Share Price Target

With today’s rally, Inox Wind stock is hovering around the 20-day moving average (20-DMA) of Rs 161 on the daily chart. If Inox Wind stock manages to cross this level decisively, the next resistance will be placed at 50-DMA Rs 180, followed by Rs 183.5 (200-DMA), and Rs 202 (100-DMA).

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