Inox Wind Q3 FY25: Revenue Up 96%, EBITDA Jumps 192% YoY

Inox Wind Limited (IWL), a wind energy solutions provider announced a strong show for its financial results during the quarter ended December 31, 2024. In the quarter, the company’s order execution increased 82% YoY to 189 MW. The company’s revenue increased 96% year-over-year (YoY), and its EBITDA also grew 192% YoY.  

IWL’s order book stood at ~ 3.3 GW at the end of Q3 FY25, providing a strong visibility for delivering on its guidance for the  next few quarters. The company achieved its 2 GW execution target in FY25. In 9M FY25, IWL secured orders totaling ~ 1.4 GW across multiple customers and is finalising several additional orders across PSUs and large IPPs, amongst others. 

Q3 results

Devansh Jain, Executive Director, INOXGFL Group, said on the occasion, “We continue to capitalise on the large growth opportunities in the Indian market, and supplemented by our new ventures, our offerings now encompass the entire Renewables ecosystem, opening up additional areas of businesses for Inox Wind and its subsidiaries.” 

Commenting on the results, Kailash Tarachandani, CEO of Inox Wind, said, “We have been able to deliver another quarter of strong results in Q3 and are confident of delivering significantly higher execution from Q4 FY25 onwards. India continues to award large renewable capacities particularly in the hybrid / RTC / FDRE space, which bodes well for the demand for the wind sector.”

The company also mentioned its following achievements in the quarter

• 189 MW execution in Q3 FY25, up 82% YoY; 469 MW execution in 9M FY25, up 90% YoY
• Large order book at ~ 3.3 GW provides strong revenue growth outlook; FY25 order inflows stand at ~ 1.4 GW with a strong order pipeline
• New nacelle plant near Ahmedabad, Gujarat to commence operations in Q4 FY25
• IWL’s EPC arm, Inox Renewable Solutions, to commence crane services and transformer manufacturing operations in Q4 FY25
• IWL’s credit ratings for its short-term bank facilities have been upgraded by two rating agencies to their highest ratings
• Group’s venture into solar manufacturing through Inox Solar to open up additional opportunities in hybrid projects and increased business for EPC (Inox Renewable Solutions) & O&M (Inox Green)