Studying Time: 2 minutes
Inox Wind Restricted (IWL) has introduced its Q3 FY24 monetary outcomes. With consolidated income at INR 506.9 crore, up 113% from Q3 FY23, pushed by strong order execution. EBITDA has elevated to Rs. 99.5 crore from a lack of Rs. 172.5 crore in Q3 FY23. IWL additionally achieved a revenue after tax of Rs. 1.8 crore in Q3 FY24 in comparison with a lack of Rs. 287.9 crore in Q3 FY23.
Listed here are another vital milestones that point out a promising progress trajectory:
- Secured the biggest wind mission order of 1,500 MW from a serious energy utility.
- Accrued orders of roughly 1,850 MW in latest months, elevating the order e-book to round 2.6 GW (excluding Letters of Intent).
- Inclusion of three MW generators within the Renewable Vitality Ministry’s Reverse Public sale Mechanism (RLMM).
- Signed a landmark settlement for the introduction of 4.X MW wind generators in India, guaranteeing technological development for the subsequent decade.
- Raised round Rs. 800 crores from international institutional traders, bolstering the stability sheet considerably.
- Boasts an enormous mission stock with a pipeline of high-value mission website developments.
Talking in regards to the outcomes, Mr. Devansh Jain, Govt Director, INOXGFL Group, mentioned, “It is a momentous achievement for Inox Wind. The efforts which we’ve put over the previous few quarters have yielded a exceptional turnaround for Inox Wind in Q3, which is mirrored within the present order e-book and the reported numbers. I firmly consider that we’ve simply launched into a large progress journey. With all of the levers aligned, which incorporates the robust promoter backing of the corporate, a strong stability sheet, massive and constantly growing orderbook, ramped up operations, a excessive worth mission improvement pipeline, together with being technologically prepared for the subsequent decade, I consider Inox Wind is absolutely geared as much as seize the massive alternatives that the sector beholds.”
Mr. Kailash Tarachandani, CEO of Inox Wind, added, “I’m delighted to announce that our efforts over the previous yr has delivered a worthwhile quarter, a large turnaround after the painful transition within the trade. Q3 FY24 is the stepping stone for us. We have now ensured that each one the constructing blocks are in place for us to ship gigawatt-plus scale annual execution and create worth for all our stakeholders.”
