Inox Wind Share Price Swings After Q4 Revenue More Than Doubles

Inox Wind Ltd.'s share price gained by 3.08% before declining, after the company reported strong fourth-quarter results. The wind energy firm saw its consolidated revenue more than double, reaching Rs 1,248 crore compared to Rs 528 crore in the same period last year.

Earnings before interest, taxes, depreciation, and amortisation also showed significant growth, rising to Rs 227 crore from Rs 98.6 crore. Despite a slight contraction in the Ebitda margin, which stood at 18.2% versus 18.7%, the company's net profit saw a remarkable increase, climbing to Rs 187 crore from Rs 46.5 crore.

Inox Wind is a leading player in India's renewable energy sector, specialising in wind energy solutions. The company designs, manufactures, and installs wind turbine generators, providing comprehensive services including operations and maintenance.

Inox Wind is involved in advancing sustainable energy and reducing carbon footprints through technology and other energy solutions.

The scrip rose 3.08%, before it fell as much as 0.66% to Rs 193.71. It was trading at the same level as of 10:04 a.m. This compares to a 0.70% decline in the NSE Nifty 50.

It has risen 26.32% in the last 12 months. Total traded volume so far in the day stood at 9 times its 30-day average. The relative strength index was at 64.

Out of eight analysts tracking the company, seven maintain a 'buy' rating and one recommends a 'hold'. The average 12-month consensus price target implies an upside of 15.9%.