Inox Wind Q2 Results: Company Swings To Profit, Beats Estimates
The company's order book now stand 162% higher on an annual basis at 3.3 GW, providing large revenue visibility for the next 2-3 years.
Inox Wind Ltd. said on Friday that the company had swung to profit during the second quarter of fiscal 2025, topping analysts' estimates.
The wind turbine manufacturer reported a net profit of Rs 90 crore in the July-September quarter, compared to a loss of Rs 27 crore in the same period last year, according to an exchange filing. Analysts polled by Bloomberg had estimated a Rs 69 crore net profit.
Inox Wind Q2 FY25 Highlights (Consolidated, YoY)
Revenue up 97.6% to Rs 732 crore (Bloomberg estimate: Rs 766 crore).
Ebitda up 258.5% to Rs 173 crore (Bloomberg estimate: Rs 133 crore).
Margins at 23.6% versus 13% (Bloomberg estimate: 17.3%).
Net profit at Rs 90 crore versus net loss of Rs 27 crore. (Bloomberg estimate: Rs 69 crore).
Order Book And Execution
Inox Wind's order book now stands at 3.3 GW, marking a 162% uptick from the 1.2 GW order book a year ago. 65% of the current order book is from end-to-end turnkey services, while the balance is for equipment supply. The current order book gives the company a large revenue visibility for the next 2-3 years, states Inox Wind.
The order inflows for the ongoing financial year now stand at 1.2 GW, supported by a strong order pipeline.
Inox Wind notes a favourable macro environment for the Indian wind sector, with 12 GW of capacity being awarded in the country in FY25 across wind, hybrid, and FDRE projects.
Execution
The company executed 140 MW worth of orders in Q2FY25, and a total of 280 MW during April-September period.
The company's total order book execution for FY25 and FY26 stand at 800 MW and 1200 MW, respectively. The company is also targeting a 2 GW annual order execution target in FY27.
