Inox Wind Limited: India’s Wind Energy Sector
Inox Wind Limited, a prominent player in India’s wind energy sector, has established itself as a comprehensive solution provider, offering a range of services including manufacturing, project development, and operations and maintenance. As a subsidiary of the INOX GFL Group, Inox Wind has significantly contributed to India’s renewable energy landscape since its inception in 2009.
Business Operations and Services
Inox Wind operates as a fully integrated entity in the wind energy market, providing end-to-end turnkey solutions. Its offerings include wind resource assessment, site acquisition, infrastructure development, erection and commissioning of Wind Turbine Generators (WTGs), and long-term operations and maintenance services. The company’s manufacturing facilities are strategically located in Gujarat, Himachal Pradesh, and Madhya Pradesh, enabling efficient production and distribution of wind turbine components.
Technological Collaborations
Inox Wind has partnered with AMSC, an Austrian subsidiary of the U.S.-based American Superconductor Corporation, to source technology for its WTGs. This collaboration has granted Inox Wind an exclusive and perpetual license to manufacture 2 MW wind turbines in India, incorporating advanced electronic controls and systems to enhance the efficiency and cost-effectiveness of wind energy generation.
Financial Performance
Inox Wind’s financial trajectory has been noteworthy, with significant growth in recent years. In the fourth quarter of the fiscal year 2024, the company reported an execution of 129 MW, contributing to a consolidated revenue of ₹563 crore and a profit after tax of ₹38 crore. The order book stood at an impressive 2,656 MW, reflecting robust demand and market confidence.
Stock Market Performance
Inox Wind’s stock has demonstrated remarkable performance on the stock exchanges. Over the past year, the share price has surged by approximately 48%, significantly outperforming the broader market, which returned 8.6% during the same period. Analysts attribute this growth to the company’s strong order book, technological advancements, and strategic positioning in the renewable energy sector.
Recent Developments
In February 2025, Inox Wind announced a substantial order win, further bolstering investor confidence. The company secured a 1,500 MW contract from CESC, marking one of the largest orders in its history. Additionally, in April 2024, Inox Wind received a repeat order of 210 MW from Hero Future Energies, underscoring its strong market presence and customer trust.
Future Outlook
Looking ahead, Inox Wind is poised for continued growth, driven by India’s commitment to expanding its renewable energy capacity. The company’s strategic initiatives, technological collaborations, and substantial order book position it well to capitalize on the burgeoning demand for clean energy solutions. With a focus on innovation and operational excellence, Inox Wind aims to play a pivotal role in shaping India’s wind energy landscape in the coming years.