Shares of Inox Wind Ltd. rose 2.5%, reaching a day’s high of Rs 252.21 on 18th September, after the company informed the exchanges that it had received a Letter of Intent (LoI) from IGREL Renewables Ltd. (IGREL) for the turnkey execution of 550 MW wind capacity.

The company will supply, install, and commission wind turbine generators (WTGs) for the project and will provide multi-year comprehensive operations and maintenance (O&M) services after commissioning.

The project will be executed over 24 months across multiple sites in Gujarat, Rajasthan, and Madhya Pradesh, adding to the company’s previous 200 MW order, bringing Inox Wind’s total order book to over 3.5 GW.

Kailash Tarachandani, Group CEO of Inox Wind, stated that this achievement strengthens the company’s path toward reaching its 2 GW annual execution goal by FY27, supported by a large order book. With strong sectoral growth and Inox Wind’s strategic position, the company is set to leverage significant opportunities in the sector over the next decade.

In the April-June quarter, the company saw an 83% revenue growth compared to the same period last year, reaching Rs 638.8 crore, and reported a net profit of Rs 48 crore, recovering from a net loss of Rs 63.5 crore last year.

At 11:07 AM, the shares of Inox Wind were trading 2.69% higher at Rs 251.23 on NSE.

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