Inox Wind reported strong Q2 results on Friday.

What Happened: Inox Wind's net profit jumped to ₹92.89 crore from a net loss of ₹24 crore in the previous year. Its revenue from operations rose 98% to ₹732.24 crore. Its EBITDA gained 171% from the year to ₹189 crore. 

The company recorded the largest-ever order book of about 3.3 gigawatts in Q2. The firm’s FY25 order inflows stood at about 1.2 gigawatts with a strong order pipeline, it added. 

Axis Securities gave a buy call with a target price of ₹270. The brokerage said the company's order book is expected to grow as the company is in discussions with existing and potential customers. 

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The research firm also noted that the company's execution in Q2FY25 increased 82% year on year to 140 megawatts. It may exceed its execution target of 800 megawatts for FY25 is on track and 1,200 megawatts guidance for FY26 due to a substantial order book and expected additional orders, Axis Securities added. 

The company also has an annual execution target of 2 gigawatts in FY27. It also has 2 gigawatts of sites available on a plug-and-play basis along with substations and infrastructure ready for higher execution, the research firm added. 

Price Action: Shares of Inox Wind were up 6.44% to ₹216 on Monday. 

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