Q1 Results: Inox Wind Reports 85% Increase In Revenue

Q1 Results: Inox Wind Reports 85% Increase In Revenue

Indian Wind Energy company Inox Wind Limited today announced its financial results for Q1. The figures submitted by the company revealed that the company reported an 85% rise in its total consolidated revenues on a Year-On-Year (YoY) basis. 

The company said that its growth outlook is reflected in the company’s large order book which stands at more than 2.9 GW with a healthy mix of PSUs, IPPs, C&I and retail customers. In the first few months of FY25, Inox Wind has secured orders totalling 611 MW across customers. 

As per the details furnished by the company, the consolidated revenue of the green company in Q1FY24 stood at Rs 352 crore which increased upto Rs 651 crore in F1FY25, registering an 85% growth. On the other hand, on a Quarter-on-Quarter (QoQ) basis, the company saw a growth of 16 percent. Inox Wind also reported a 349% jump in its consolidated EBITDA. 

Devansh Jain, Executive Director, INOXGFL Group said, “The hard work of last several years has started to yield results and we are now on the runway ready for take-off on the massive growth journey ahead, buoyed by the strong macro tailwinds. Also, IWL’s parent, IWEL has infused Rs 900 crores recently, making the company net cash positive and strengthening the balance sheet to capitalize on the multi-decadal opportunity in the Indian wind sector.” 

Commenting on the results, Kailash Tarachandani, CEO of Inox Wind, said, “We have commenced FY25 on a very strong note. With our manufacturing capacities and supply chain already in place, and backed by our large diversified order book of > 2.9 GW, we are looking at a massive scale up in operations. We are receiving a very strong response from customers for our products. We have already won 611 MW of orders in FY25, including repeat orders from marquee customers.” 

About Inox Wind 

Inox Wind Limited (IWL) is an Indian wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 9 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals – chemicals and renewable energy. IWL is a fully integrated player in the wind energy market with four state-of-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured. With its state-of-the-art 3 MW series WTG offering, IWL’s manufacturing capacity stands at ~ 2.5 GW per annum.