Green energy stock jumps after securing a 102.3 MW wind power order from Aditya Birla Renewables

Synopsis: Inox Wind secured a 102.3 MW order from Aditya Birla Renewables’ subsidiary for 3.3 MW turbines in Karnataka, marking its first collaboration with the group and reinforcing its product strength, market presence, and growth momentum.

This company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors is now in the focus after securing wind power order. With market capitalization of Rs. 21,663 cr, the shares of Inox Wind Ltd are currently trading at Rs. 125 per share, up from its previous close of Rs. 124.55 per share.

About the order 

Inox Wind Limited has secured a significant 102.3 MW wind power order from ABREL EPC Ltd., a wholly owned subsidiary of Aditya Birla Renewables Limited, marking its first-ever collaboration with the Aditya Birla Group’s renewable energy arm. 

The order involves the supply of Inox Wind’s advanced 3.3 MW wind turbine generators for projects being developed in Karnataka, further strengthening Inox Wind’s presence in the high-capacity turbine segment. 

Commenting on the development, Mr. Sanjeev Agarwal, CEO of Inox Wind Limited, highlighted that Aditya Birla Renewables is a marquee clean energy developer with ambitious long-term plans, and expressed satisfaction in partnering with ABReL to support India’s energy transition, decarbonisation goals, and sustainability agenda. 

He added that the order underscores Inox Wind’s growing acceptance among leading renewable energy developers and reflects the strength of its product portfolio and end-to-end service capabilities, with both new and repeat orders expected to translate into sustained growth momentum for the company.

About the company 

Inox Wind Limited (IWL) is India’s leading wind energy solutions provider, serving IPPs, utilities, PSUs, and corporate investors. Part of the multi-billion-dollar INOX GFL Group, IWL operates five advanced manufacturing plants across Gujarat, Himachal Pradesh, and Madhya Pradesh, producing blades, towers, hubs, and nacelles. With its 3 MW series WTGs, the company has a manufacturing capacity of around 2.5 GW per year, offering end-to-end solutions from project conceptualization to commissioning and O&M.

Its subsidiary Inox Green Energy Services Ltd. is India’s only listed pure-play renewable O&M company with a ~13 GW asset portfolio, while Inox Renewable Solutions provides EPC services and develops infrastructure for renewable projects. With strong promoter backing, certifications in quality, safety, and environmental management, and robust industry relationships, IWL is positioned for sustained growth and profitability in the renewable energy sector.

It shows solid financial health with a ROCE of 11.5% and ROE of 11.7%, supported by a low debt-to-equity ratio of 0.17. Its stock P/E of 42.5 is slightly below the industry average of 43.7, indicating reasonable valuation compared to peers.

On a YoY basis, sales rose 53% to Rs. 1,119 cr from Rs. 733 cr in Q2FY25, EBITDA increased 35% to Rs. 228 cr from Rs. 166 cr, and net profit grew 43% to Rs. 121 cr from Rs. 84.4 cr. EPS surged to Rs. 0.53, up from Rs. 0.19 in Q2FY25, reflecting a 179% increase.

Written by Manideep Appana

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