Stock Update: Inox Wind

Inox Wind has delivered amazing returns of over 450% in the last three years; do you hold it?

Shares of the company gained more than 90% in the last six months.

Inox Wind Limited has delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price surged from Rs 37.55 on November 06, 2020, to Rs 211.15 on November 02, 2023, representing an increase of over 450% in a three-year holding period.

An investment of Rs 1 lakh in this company’s shares one year ago would have grown to Rs 5.50 lakhs today.

Inox Wind Limited reported a strong second quarter for FY24, with net sales growth of 246.04% to Rs 370.64 crore, compared to Rs 107.11 crore in the same quarter last year. The operating profit also experienced a significant increase of 331%. The net loss for the quarter stood at Rs 29.23 crore, which was Rs 129.31 crore in the previous year’s same quarter.

Inox Wind Limited is a part of the Inox Group. The company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. Inox Wind Ltd is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions.

Today, the stock opened at Rs 214.95, with a high and low of Rs 214.95 and Rs 208, respectively. The stock is currently trading at Rs 212.20, which increased by 0.19%. The stock has a 52-week high of Rs 228 and a 52-week low of Rs 89.60. The company has a ROCE of -8.37% and an ROE of -37.3% with a market capitalization of Rs 6,918 crore.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.