It has a robust order book of 1,220 mw as on june 2015, with turnkey projects contributing 60 per cent and equipment supply orders making the rest. In our view, the wind power sector is entering the final phase of its journey to a complete auction based regime. To recap, inox wind, which released its results earlier than suzlon, has said that a large part of its order book has turned redundant due to the ongoing transformation in the wind energy market. At an approximate cost of rs 6 cr per mw management assumption, q1fy18 conference call inox has an order book of rs 3,000 crs of project execution from seci auctions alone, to be executed over the course of fy18 and fy19, with further scope of state as well as psu auctions, combined with tieup. Order of 100 mw assigned under auctions, takes the auctionbased order book to 950 mw, and together, these orders provide revenue and cash flow visibility for fiscals 2019 and 2020.
Inox wind standalone december 2018 net sales at rs 351. Thanks to the wind power auctions and falling costs, there should be sustainable and strong growth for the sector, it added. Inox winds current order book stands at 300 mw, based on seci 1st wind auction, the. Inox wind infrastructure services limited is a public incorporated on 11 may 2012. It is classified as nongovt company and is registered at registrar of companies, himachalpradesh. Inox wind agmegm get all the latest information about inox wind agm egm schedule on the economic times.
Ebitda including other income for the quarter was rs. As on december 31, 2016, iwl had an unexecuted order book of 6 mw. Vestas announced on wednesday that it has received its largest indian wind turbine order with a 250 mw turnkey order stemming from the countrys first wind power auction held earlier this year in. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by ft and is not intended to be relied upon by users in making or refraining from making any specific investment or other decisions. Inox wind limited is a public incorporated on 09 april 2009. Inox wind limited may 29, 2018 ratings facilities amount rs. Inox wind has an order book of 950mw from capacity secured at national.
It is amongst the fastest growing and one of the leading wind power solution providers in india. Inox wind bags orders for 40mw projects from gujarats. Secis very first round of auction for wind projects took place in february 2017 when 1 gw of capacity was offered to developers at an average tariff of rs. Inox wind limited, which manufacturers wind turbines and constructs wind power farms, said it intends to put up a 250 mw wind farm in kutch in gujarat in the next 12 months and will continue to bid aggressively in upcoming auctions. Inox wind challenges national company law tribunals order.
Inox wind eyes large share of upcoming wind power projects. This was followed by another 1 gw of capacity in october 2017 with tariffs falling to. Seci3 auction increasing the order book to a sector leading 800mw. It is classified as nongovt company and is registered at registrar of companies, ahmedabad. Crisil has revised its rating outlook on the longterm bank facilities of inox wind limited iwl.
Inox wind limited august 18, 2017 ratings facilities amount rs. Inox wind maintains successful track record in central government. Inox wind limited, one of indias leading wind energy solution providers, has won 250mw in the seciii auction representing a 25% market share. Irl is a subsidiary of gujarat flourochemicals limitedgfl, which has been into the wind sector, primarily turbine manufacturing, since 2010.
This win enhances our auction based order book to 550 mw. Is now the correct time to buy inox wind shares, as the. Inox wind on road to insolvency after nclt clears process. However, this is not the real reason to keep away from the share. A strong current order book of 1,200 megawatts mw and investor confidence place inox wind, and devansh, in a sweet spot. Inox wind company history business standard news page 1. Low sales push inox wind into the red renewables now. They have not been able to ramp up their order book since 2017, said an industry expert.
Inox wind bags repeat order from malpani group for 40 mw inox. Inox wind limited company, directors and contact details. The rating also derive comfort from strong order book of iwl along with access to robust pipeline of probable wind. Inox wind limited, indias leading wind power solutions provider, reported its financial results and financial performance for the fourth quarter and the financial year ending 31st march 2017. Indian wind energy service provider, inox wind said on thursday that the company has bagged two repeat orders for two 20 mw projects from malpani group in gujarat.
During the financial year ended 31 march 2017 inox wind expanded its. The stable outlook factors in a healthy order book, expectation of execution of auctionbased orders and anticipated cash flows. Though company has been able to realise significant. Projects to be commissioned in gujarat by march 2017.
Inox wind limited iwl part of the inox group is an integrated wind energy solutions provider and a pureplay renewable energy company with worth usd 3 billion as on 31 march 2019. Inox wind challenges national company law tribunals order inox winds financials have been under pressure as 201617 revenue declined 23% yearonyear to. Iwl manufactures key components including blades, towers, hubs and nacelles inhouse. Inox wind shares tanked over 19 per cent on monday after the companys consolidated net profit declined 36 per cent to rs 127. Why inox wind dropped down more than 50% since its ipo and. Inox wind ltd, one of indias largest wind power equipment makers, has won an order to supply wind. In terms of inox, the company had 6mw of order backlog at the end of q3fy17, however the same has been curbed to 300mw. Inox wind shares have tumbled over 19% supposedly on the back of a 36% slide in q4 net profits. Dipak ashar, inox group shares the orderbook picture. Inox wind bags repeat order from malpani group for 40 mw. Inox wind company history information business standard. The reason for the companys underperformance on bourses is the negative operating cash flow the company is producing.
Green energy firm inox wind on road to insolvency after. Inox wind shares tank over 19 per cent post q4 results. Inox winds total income from operations declined by 89% to rs87. Energy corporation of india seci tender held in february 2017.
February 7 renewables now indian wind turbine maker inox wind ltd. The march quarter results of suzlon energy and inox wind indicate a dichotomy that persists in indias wind power sector. Registrar and share transfer agent kfin technologies private limited corporate registry karvy selenium, tower b, plot no. Two hundred fifty nine crore and fifty eight lakh only. Investment in subsidiary, inox wind infrastructure services limited iwisl, for the purpose of development. Inox wind limited reported its financial results and financial performance for the second quarter and the first half of the financial year ending 31st march 2017. Inox wind ltd, one of indias largest wind power equipment makers, has won an order to supply wind turbine generators to a unit of adani group for. How suzlon energy avoided inox winds predicament livemint. Inox wind limited is an integrated wind energy solutions provider. Inox wind limited, one of indias leading wind energy solutions providers, has closed a deal for developing a 100mw wind power project for adani green energy, a part of the adani group at kutch in the state of gujarat. Inox wind infrastructure services limited january 25, 2017 ratings facilities amount.
Inox wind was the only wtg manufacturer to win in the auction. To recap, inox wind, which released its results earlier than suzlon, has said that a large part of its order book. Indias inox wind swings to loss in fiscal q3 renewables now. Going forward, ramping up of existing order book by winning additional wind capacities in future bids while sustaining the. Building on our order book, of our newly launched 3. Inox wind balance sheet, inox wind financial statement. Inox renewables exits wind power business indolink. Inox wind agm egm agm egm schedule for inox wind the. The wind turbine manufacturer reported a net loss of inr 858. We had five bidders at that price, four were awarded 250 megawatts and the fifth bidder was awarded approximately 50 megawatts and because there is a minimum criteria which they need to award. The total income from operations for the quarter was rs.
Commenting on the wind power market, inox wind said it anticipates fiscal 201819 to be a strong turnaround year as the sector has strong visibility on order flow. Also, the company has received epc contract aggregating 100 mw from. Wind turbine manufacturer inox wind, declared an indefinite lockout. Crisils rationale for upgrading inox winds outlook includes further order book buildup from the 250mw order win in the recently concluded seci2 auction, existing order book of 550 mw providing higher revenue and cash flow visibility and continued support from the parent. In contrast, the former reported a strong growth in revenue and profit and exuded confidence that its order book is not facing any risk ofcan cellation. All content on is for your general information and use only and is not intended to address your particular requirements.
The company has one of the largest order books in indias wind power industry. Wind power solutions provider inox wind today reported a. Inox wind limited, one of indias leading wind energy solution providers, has won. The company was incorporated in the year april 09 2009. The question before the supreme court was whether the arbitration clause forming a part of standard form of contract of a party is binding on the contracting parties if the standard form is incorporated by reference to govern their contract. Annual report 2017 inox wind limited 5 our endtoend solutions a. Backed by unconditional and irrevocable corporate guarantee to be provided by inox wind limited and a structured payment mechanism. Inox wind ltd initiating coverage the intelligent investor. Inox renewables limited irl has decided to sell its operating wind farms to chennaibased leap green energy for an undisclosed amount to focus on its core businesses. Wind turbine maker inox wind today reported a consolidated net loss of rs 46. And, the focus on nonconventional ways to generate electricity has provided the muchneeded fillip to wind energy companies, including noidabased inox wind, which makes wind turbine generators and provides turnkey solutions for wind power projects. The company is engaged in the manufacture of wind turbine generators wtgs. Inox wind limited, indias leading wind power solutions provider, reported its financial results and financial performance for the second quarter of the financial year ending 31st march 2018.
1303 720 1579 865 884 579 201 1590 718 146 972 1377 1425 530 1458 1076 3 984 1611 145 1487 807 459 1414 1126 103 143 336 666 968 1398 562 1415 437 94 21 652 319 55 720 323 316 1441 1421 102 96 1392 1314 1177