Inox Wind Profit Doubles to Rs 97.34 Cr in Q1

New Delhi, Aug 14 (PTI) Inox Wind on Thursday said its consolidated net profit more than doubled to Rs 97.34 crore in the June quarter compared to the year-ago period, mainly due to higher revenues.

It had posted a consolidated net profit of Rs 41.59 crore in the year-ago period, a BSE filing showed.

Total income rose to Rs 862.56 crore during the quarter from Rs 654.64 crore in the same period a year ago.

Its order execution during the quarter increased to 146 MW, with order book at 3.1 GW.

The company added an equipment supply order from First Energy to its well diversified order book comprising marquee public sector enterprises, independent power producers and commercial and industrial customers.

Further, it has operationalised a nacelle plant near Ahmedabad, Gujarat, a transformer manufacturing unit in Rajasthan, and has now deployed its own cranes across multiple sites.

Its subsidiary Inox Green entered into an agreement for comprehensive O&M (operation and management) of 182 MW of wind projects of one of India's largest conglomerates.

Further, the scheme of demerger of Inox Green's substation business and its subsequent merger into Inox Renewable Solutions received 'no objection' from the stock exchanges.


Also, the completion of the merger of Inox Wind Energy Ltd (IWL) into Inox Wind Ltd (IWL) resulted in substantial strengthening of IWL's balance sheet with the reduction in its liabilities by Rs 2,050 crore.

Devansh Jain, Executive Director, INOXGFL Group, said in the statement, "I believe that with the strategic actions almost behind us and backed by the solid foundation which Inox Wind has built over the last few years, the company is on a robust journey to deliver strong growth ahead."

Sanjeev Agarwal, CEO, Inox Wind, said in the statement, "We have commenced FY26 on a strong note and are well on our way to achieve our targets."

IWL is a part of the USD 12-billion INOXGFL Group which has a legacy of over nine decades and is primarily focused on chemicals and renewable energy.

It has 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.

With its state-of-the-art 3 MW series WTG offering, IWL's manufacturing capacity stands at 2.5 GW per annum.

IWL's subsidiary Inox Green Energy Services Ltd is the only listed pure-play renewable O&M services company in India, having a strong portfolio of over 5 GW and a multi-fold growth path ahead.

Through its other subsidiary Inox Renewable Solutions (earlier known as Resco Global Wind Services Pvt. Ltd.), IWL provides EPC services for wind projects and develops common infrastructure, including power evacuation infrastructure, for renewable projects.

IWL offers end-to-end wind energy solutions from concept to commissioning to O&M, manufacturing key components of WTGs, using the most advanced technology, in-house, to maintain high quality, reliability and cost competitiveness.