Noida, February 03rd, 2017: Inox Wind Limited, India’s leading wind power solutions provider, reported its financial results and financial performance for the third quarter and the nine months of the financial year ending 31st March 2017.
Total income from operations for the quarter was Rs. 1160.62 crores. EBITDA (including Other Income) for the quarter was Rs. 198.52 crores and PAT was Rs. 107.51 crores. Total income from operations for nine months was Rs. 2395.78 crores. EBITDA (including Other Income) for the nine months was Rs. 381.82 crores and PAT was Rs. 175.75 crores. Diligent efforts during the last 9 months has resulted into synchronised production of nacelles, hubs, blades and towers which has resulted into continued improvement in working capital position. The Company executed 266 MW of orders during the quarter. Though demonetization has affected finished goods logistics and last mile execution at sites for short term however; the business is back to normal operations since end December.
The company reported strong order inflow of 330 MW during the quarter winning repeat orders from marquee independent power producers like Sembcorp Green Infra, Renew Power, Adani Power, SJVNL etc. The company also won a prestigious order of 50 MW from NTPC Limited which marked its maiden foray into wind energy. The company has a robust order book position of 1,306 MW as of December 2016.
Mr. Devansh Jain, Executive Director of the company stated that “Over the quarter, the company has focussed its efforts on ramping up execution across projects on pan India basis. The Company has secured fresh orders of 330 MW which includes repeat orders as well as prestigious orders from NTPC & SJVNL. With fully synchronised production, robust execution on ground and ready common infrastructure at multiple sites we expect a significant improvements in the working capital. We look forward to the first ever 1000 MW SECI wind auction as IWL’s advanced technology and low cost structure places it as a partner of choice.”
The recently announced results of the Global Wind Power Installed Capacity Index ranked India 4th with a cumulative installed wind power generation capacity of 25,088 MW. This is testimonial of the government of India’s thrust on the development of renewable sources of energy. The 1000 MW tender floated by state-run Solar Energy Corp. of India (SECI) has witnessed high interest among developers and WTG manufacturers. The tender is expected to bring wind energy cost down thereby making wind the most competitive source of power. This would also expand the market by opening up of RPO demand from non-wind states. Upfront signing of 25 years PPAs make it ideal for IPPs, banks and developers.
ABOUT INOX WIND:
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. Inox Wind is a fully integrated player in the wind energy market with three state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh. The plant near Ahmedabad (Gujarat) manufactures blades & tubular towers while hubs & nacelles are manufactured at the company’s facility at Una (Himachal Pradesh). The new integrated manufacturing facility at Barwani (Madhya Pradesh) manufactures blades & towers, and will manufacture nacelles & hubs in the future. The facility at M.P., which will be amongst the largest in the world, has doubled Inox Wind’s manufacturing capacity to 1,600 MW per annum.
IWL manufactures key components of WTGs in-house to maintain high quality, most advanced technology, reliability and cost competitiveness. IWL has obtained ISO 9001:2008, ISO 14001:2004, OHSAS 18001 and ISO 3834 certifications for its management systems pertaining to manufacturing, installation, commissioning and O&M of wind turbines.
IWL offers complete end to end solutions from concept to commissioning. Besides manufacturing and supply of WTGs, IWL offers services including wind resource assessment, site acquisition, infrastructure development, erection and commissioning, and long term O&M of wind power projects.
For more information please contact:
Corporate Investor Relations
Inox Wind Limited
Phone: 0120- 6149 600