Inox Wind, Inox Green shares decline up to 5%; former sets record date for bonus issue

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of Inox Green Energy Services are down in a lower circuit of 5% on Monday after the company reported a 7.8% decline in its revenue for the January-March quarter when compared to the same quarter last year.

Earnings Before Interest, Tax, Depreciation and Amortisation fell 20.7% year-on-year to ₹11.5 crore. Margin also fell by over 350 basis points to 21.9% from 25.5% last year.

Inox Green reported a net profit of ₹20.3 crore, compared to a net loss of ₹1.8 crore last year.

Inox Wind also returned to profitability in the March quarter, reporting a net profit of ₹37.7 crore, compared to a net loss of ₹115.1 crore last year. The company also reported an EBITDA margin of 19.4%.

Last year, Inox Wind had reported an operational loss of ₹23.8 crore. In comparison, it reported a EBITDA of ₹102.2 crore this quarter.

Revenue for Inox Wind nearly tripled from the year-ago quarter to ₹527.7 crore.

As of March 31, Inox Wind had a total order book of 2.7 GW, which is a mix of PSUs, retail and Commercial & Industrial customers. It has also transitioned to a 3 MW Wind Turbine Generator supplies from 2 MW earlier.

Additionally, Inox Wind has also fixed May 18, 2024 as the record date for its 3:1 bonus issue. The company will issue three free shares for every one share held.

Shares of Inox Wind are down 2.3% at ₹601.5. The stock has risen 421% in the last 12 months.

Inox Green shares are in a 5% lower circuit at ₹133.95. This stock has also tripled over the last 12 months.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow