Inox Wind- Energising India
About the company
Inox Wind is a major player in the wind energy market, offering complete end to end solutions from concept to commissioning. Apart from manufacturing and supply of WTGs, IWL offers services like wind resource assessment, site acquisition, infrastructure development, erection and commissioning, and long term O&M of wind power projects.
Manufacturing plants locations:
Gujarat
Himachal Pradesh
Madhya Pradesh
Products:
Blades & Tubular Towers at Ahmadabad (Gujarat)
Hubs & Nacelles are manufactured at Una (Himachal Pradesh)
Blades, nacelles, hubs, and towers at Barwani (Madhya Pradesh)
Services:
The services offered by IWL include manufacturing key components ensuring high quality with most advanced technology, reliability and cost competitiveness. Inox Wind turbines generators are designed for low wind speed sites of India, and are generating around 6% – 18% more energy from other Wind turbines generators models available across the country.
Clientele:
1. Providing solutions to servicing IIPS,
2. Utilities,
3. PSUs,
4. Corporates
5. Retail Investors
Inox wind limited is in a list of top 500 stocks in dynamic levels, the share price has touched a 52 week high of Rs. 482.50 on 18-May-2015 and a 52 week low of Rs. 215 on 01-Mar-2016.
Inox Wind Limited has got 2 orders for a growing capacity of 100 MW from one of India’s leading renewable energy autonomous power producer. The turnkey order of a 50 MW project is to be set up in Gujarat and a 50 MW project is to be set up in Madhya Pradesh. The projects once made to order will provide power to 50,000 households and curb 0.15 million tonnes of carbon dioxide emissions annually and further consolidate Inox Wind’s leading position in the two states. This order will boost Inox’s strong order book with major IPPs in India. Orders from a top renewable energy IPP show the competition of wind power in the states of Gujarat and Madhya Pradesh and ensure that Inox Wind continues to play an important role in further developing the wind energy industry in the two states.
Inox Wind has signed two contracts for a cumulative capacity of 70 MW with Adani Green Energy Ltd, a subsidiary of Adani Enterprises Limited and part of the Adani Group. The orders bagged by Inox Wind represent Adani Group’s maiden foray into the wind energy segment. This order covers 50 MW turnkey project, to be set up in Anantapur district in Andhra Pradesh and a 20 MW turnkey project at Inox Wind’s Lahori site in Madhya Pradesh. This is the first order placed by Adani in the wind power area and confirms customers’ trust in Inox’s capability to provide world class hi-tech solutions to its clients.
The company has inked a 26 MW turnkey wind power project to be set up at Mahidad, in the state of Gujarat from Indian Oil Corporation Limited. IOCL, a Maharatna Central Public Sector Enterprise, is India’s largest commercial enterprise and is ranked among the world’s biggest corporates.
Government initiatives
The Government of India is taking a number of steps and initiative like - increase the wind energy production target to 60,000 MW by 2022 from the current 20,000 MW
Conclusion
Inox Wind has signed two contracts for a cumulative capacity of 70 MW with Adani Green Energy Ltd, a subsidiary of Adani Enterprises Limited and part of the Adani Group. The orders bagged by Inox Wind represent Adani Group’s maiden foray into the wind energy segment. This order covers 50 MW turnkey project, to be set up in Anantapur district in Andhra Pradesh and a 20 MW turnkey project at Inox Wind’s Lahori site in Madhya Pradesh. This is the first order placed by Adani in the wind power area and confirms customers’ trust in Inox’s capability to provide world class hi-tech solutions to its clients.
The company has inked a 26 MW turnkey wind power project to be set up at Mahidad, in the state of Gujarat from Indian Oil Corporation Limited. IOCL, a Maharatna Central Public Sector Enterprise, is India’s largest commercial enterprise and is ranked among the world’s biggest corporates.
Government initiatives
The Government of India is taking a number of steps and initiative like - increase the wind energy production target to 60,000 MW by 2022 from the current 20,000 MW
Financials
- Financially, Inox Wind has shown a positive growth, with operating profit increasing from 164.67 to 437.08 for year 2015. The company’s total income from operations for FY15 increased by 73% and reached to Rs.2709.93 crore from Rs.1566.81 crore, in the preceding fiscal year. The earnings before interest, exceptional items & tax also increased to Rs.451.38 crore from Rs. 173.80 crore, representing a growth of 160% year on year.
- The profit after tax of the company stood at Rs.296.42 crores compared to Rs. 132.28 crores in FY 2014 showing an increase of 124% from previous year. The increase in profitability is on back of higher net sales.
Conclusion
- Power is one of the most significant components of infrastructure vital for the economic growth and welfare of nations. The existence and development of adequate infrastructure is vital for continuous growth of the Indian economy.
- India’s wind energy market is likely to attract investments totalling Rs 1,00,000 crore (US$ 15.7 billion) by 2020, and wind power capacity is projected to almost double by 2020 from over 23,000 MW in June 2015, with an addition of about 4,000 MW per annum in the next five years.
- India’s wind power capacity, installed in FY2016, is expected to boost 20 per cent over last year to 2,800 Mega Watt (MW), led by favourable policy support that has given confidence for both independent power producers (IPP) and non-IPPs.
- SunEdison, world’s biggest renewable energy company, plans to focus on ‘Make in India’ by further reducing the cost of renewable energy and developing over 15 Giga Watts (GW) of wind and solar projects in the country by 2022.
- Inox Wind Ltd plans to double its manufacturing capacity to 1,600 MW at an overall investment of Rs 200 crore (US$ 31.6 million) by the end of the next financial year.
- As per our estimate, the stock at CMP of 270 is trading at P/E of 13.98, The Debt Equity ratio is 0.59 with interest coverage ratio of 7.58.
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