Shares of Inox Wind Ltd. fell by 1% on 18th December, after touching the day’s high of Rs 195.30, despite the firm announcing that it has secured a 60 MW order from Serentica Renewables to supply 3 MW class wind turbines.

Inox Wind will deliver 60 MW wind turbines for Serentica Renewables’ Karnataka hybrid renewable energy project by mid-2025 and provide long-term maintenance services.

Power generated will supply Serentica’s partners, including the Vedanta Group, supporting industrial decarbonisation.

Inox Wind aims to achieve a fourfold revenue increase this fiscal year, targeting 800 MW delivery, up from 376 MW in FY24, with 1,200 MW delivery planned for FY26.

The company’s current order book is 3.5 GW, with orders in advanced stages and capacity sold out for the next two years.

Inox Wind has raised its EBITDA guidance to 17%, hinting at further potential upgrades in the coming quarters.

So far, in 2024, the stock has surged by nearly 46%. Currently, the company’s market capitalisation stands at around Rs 24,821 crore.

At 11:07 AM, the shares of Inox Wind were trading 1.11% lower at Rs 190.55 on NSE.

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