Electric Utilities company Inox Wind announced Q1FY25 results: Revenue up 85%; EBITDA up 349%; PAT rises to Rs 50 crore Best Q1 financial performance in the history of Inox Wind Largest ever order book of > 2.9 GW (up 254% YoY); provides huge revenue growth visibility Promoters (IWEL) infused ~ Rs 900 crore (net of taxes and fees) in Jul’24 resulting in IWL becoming a net cash company New manufacturing set up to be operational within CY24; leasing model minimizing capex Value unlocking through EPC arm and value enhancement through hybridization of existing common infrastructure Devansh Jain, Executive Director, INOXGFL Group, said on the occasion, “The hard work of last several years has started to yield results and we are now on the runway ready for take-off on the massive growth journey ahead, buoyed by the strong macro tailwinds. Also, IWL’s parent, IWEL has infused Rs 900 crore recently, making the company net cash positive and strengthening the balance sheet to capitalize on the multi-decadal opportunity in the Indian wind sector. We have always been bullish on the wind sector in India albeit the hiccups that we faced in the interim. I am thankful to all our stakeholders for their support thus far and am confident of significant value creation for all going ahead.” Commenting on the results, Kailash Tarachandani, CEO of Inox Wind, said, “We have commenced FY25 on a very strong note. With our manufacturing capacities and supply chain already in place, and backed by our large diversified order book of > 2.9 GW, we are looking at a massive scale up in operations. We are receiving a very strong response from customers for our products. We have already won 611 MW of orders in FY25, including repeat orders from marquee customers. Active discussions across multiple IPPs, PSUs, and C&I; customers provides us a large order inflow visibility. Infusion of Rs 900 crores by IWEL, the parent of IWL, has resulted in the company becoming net cash positive, which will reduce our interest payments substantially and shall provide further boost to our profitability. With strong sectoral tailwinds and our current positioning, we are very confident of capitalizing on the massive opportunity that the wind sector in India beholds.” Result PDF