3:1 Bonus Share: Wind Energy Co Reports Strongest Results In 8-Yrs, Buy For TP Rs 270

Inox Wind Ltd shares today witnessed sharp rally of 5.07% after the firm reported strongest Q2 financial performance in 8 years on October 25, 2024. Current market price of Inox Wind shares on BSE is Rs 212.35 per share. The company has a market capitalisation of Rs 27,686.07 crore. Inox Wind shares gained 62% so far in 2024 and surged 301% in last 1-year. IWL delivered another quarter of strong results in Q2FY25 and is on course to achieve its best ever full year profitability in FY25. The company's order book at ~ 3.3 GW has increased by 161% YoY and comprises of a healthy mix of PSU, IPP, C&I and retail customers.

In H1 FY25, IWL secured orders totalling ~ 1.2 GW across multiple customers and is negotiating for multiple additional orders as it targets 2 GW of execution in FY27, according to its BSE filing. The company recommended 1 bonus since May 24, 2024. Its last bonus issue was declared in the ratio 3:1 with ex-date fixes as May 24, 2024. Check key details below:

Inox Wind Ltd Shares Get Buy Call:

Axis Securities has recommended investors to buy Inox Wind shares for this Diwali as it could offer potential returns to investors. Meanwhile, global markets will take cues from the upcoming US elections, Chinese economy, oil prices, activities during the festival season, etc. The analyst said, "we assign a target P/E multiple of 35x to our FY26 EPS estimate after adjusting for the minority stake in Inox Green Energy Services and Resco Global (7%)." The analyst has suggested investors to buy Inox Wind shares with target price of Rs 270 apiece.

Inox Wind Q2:

Inox Wind Limited (IWL) declared a profit of Rs 90 crore for the July-September quarter as against the loss of Rs 27 crore in the year ago period. The quarterly revenue of Inox surged 93% YoY to Rs 742 crore as against Rs 384 crore declared in the corresponding quarter of last year. "The strong Q2 performance is another firm indication of the massive growth trajectory that Inox Wind is poised to deliver," said Devansh Jain, executive director, INOXGFL Group.

Inox Wind Shares Performance:

Inox Wind shares gained over 34.65% in last 1-week only, rallied 74% in last 6-months, gave return of 698% in last 2-years, and surged 598% in last 3-years. In last 5-years, Inox Wind stock zoomed 1789%. The 52-week high price of Inox Wind Ltd shares on BSE is Rs 262.10 per share (as on 23/09/2024) and 52-week low price is Rs 50.14 per share (as on 27/10/2023), respectively.

Shareholding:

FII/FPI have increased holdings from 13.37% to 15.82% in Sep 2024 qtr. Number of FII/FPI investors increased from 172 to 204 in Sep 2024 qtr. Mutual Funds have decreased holdings from 7.75% to 7.21% in Sep 2024 qtr. Number of MF schemes increased from 11 to 16 in Sep 2024 qtr. Institutional Investors have increased holdings from 23.25% to 25.08% in Sep 2024 qtr. Nippon life india trustee ltd-a/c nippon india small cap fund has 2.43% stake and Motilal oswal large and midcap fund have 1.83% stake in Inox.

About:

Inox Wind Limited (IWL) is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 8 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, according to BSE filing of the company.

Disclaimer:

The stock has been picked from the brokerage report of Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.