Inox Wind, a leading wind energy solutions provider, is gearing up to achieve profitability on a full-year basis in the current financial year, as it continues to witness positive momentum across its operations.
Devansh Jain, Executive Director of Inox Wind, expressed optimism about the company’s financial performance, stating, “Every quarter is showing improvement over the previous one. In Q1, we achieved EBITDA positivity, and in Q2, we attained PAT (profit after tax) positivity. Since Q3, we have been consistently generating profits.”
The company is targeting a significant increase in its topline, aiming for around Rs 5,000 crore in FY25, which is nearly 2.8 times higher than its FY24 revenue. Jain emphasized that as revenues grow, operational efficiencies will kick in, leading to improved profitability. Additionally, the reduction in net debt will further bolster the company’s financial health.
In FY24, Inox Wind recorded revenues of Rs 1,743 crore, with a net profit of Rs 38 crore in Q4FY24 on revenues of Rs 528 crore. Jain highlighted the company’s robust order book, standing at 2.7 GW with revenue visibility of Rs 18,000 crore.
A significant milestone for Inox Wind was its transition to 3MW WTGs (wind turbine generators) products from 2MW WTGs products in Q4FY24, which Jain described as a game-changer. The company is also targeting to become net debt-free in H1FY25, having reduced net debt from Rs 3,000 crore to Rs 650 crore over the last 15 months. The substantial free cash flows generated will be utilized to further reduce debt.
Inox Wind raised Rs 1,300 crore from global investors in Q2 of FY24, which was utilized to reduce debt. Jain also revealed that the company’s subsidiary, Inox Green Energy, is exploring inorganic opportunities for growth and is actively considering potential acquisitions.
Inox Wind’s strategic focus on financial discipline, operational efficiency, and growth initiatives positions it for a promising outlook in FY25 and beyond, as it continues to strengthen its position in the renewable energy sector.
