Inox Wind Limited, headquartered in Noida, Uttar Pradesh, is a prominent provider of wind energy solutions in India. A part of the diversified INOX group, the company specializes in manufacturing wind turbine generators and offers turnkey solutions for wind farm projects, supplying essential components and services for construction and operation.

With a strong emphasis on technology and sustainability, Inox Wind aims to contribute significantly to India’s shift towards renewable energy.

Recently, the company announced a capital infusion of Rs 900 crore from its promoter, Inox Wind Energy Limited (IWEL), aimed at achieving a net debt-free status, excluding promoter debt, by completely paying down external term debt. This move, facilitated through equity shares sold in block deals on stock exchanges, attracted investments from several prominent investors.

Inox Wind Limited recently issued bonus shares at a ratio of 3:1, offering three bonus equity shares for every existing equity share, utilizing accumulated reserves. The revised record date for this was set for Friday, May 24, 2024.

In terms of financial performance, the company reported a 4.8% increase in net sales to Rs 527.73 crore and a significant 1,897.3% rise in net profit to Rs 37.67 crore in Q4FY24 compared to Q3FY24. For the full fiscal year FY24, net sales surged by 137.8% to Rs 1,743.24 crore, though the company still reported a net loss of Rs 50.79 crore, an improvement from a net loss of Rs 696.84 crore in FY23.

With a market capitalization of Rs 20,000 crore and a strong three-year stock price compound annual growth rate (CAGR) of 90%, Inox Wind is positioned well.

The company’s order book stood at Rs 2,656 MW as of March 31, 2023. Recently, the promoter, Inox Wind Energy Ltd, sold 6,00,00,000 shares representing 4.60% at Rs 151 per share, aggregating Rs 904.47 crore on May 30, 2024. The stock has delivered impressive returns, with gains of 300% over one year and an astounding 800% over five years, making it a stock of interest for investors looking for significant growth opportunities.

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