3:1 Bonus Issue: Wind Energy Stock Jumps 7.79% As Record Date Nears, Shares Rally 415% In 1-Yr

Inox Wind Ltd shares today zoomed by 7.79% to 602.95 per share as record date for company's 3:1 bonus issue revised to May 25, 2024 from the earlier May 18, 2024. Inox Wind share witnessed jump of 8.36% in last 1-week span after revising the record date. The small cap wind energy solution provider offered multibagger returns of 138% in last 6-months span only and surged 415% in last 1-year time. Earlier on April 25, 2024 the company recommended 3:1 bonus issue. The company on May 3, 2024 declared its consolidated net profit at Rs 36.72 crore for the March 2024 quarter amid soaring income as against the net loss of Rs 119.04 crore reported in the corresponding quarter of last year. More details below:

Inox Wind Ltd Q4: The company for the March 2024 quarter announced a sharp surge in its total income to Rs 563.07 crore as against Rs 193.83 crore declared in the similar quarter of last year. Its expense came at Rs 512.50 crore for the March 2024 quarter as compared to Rs 312.43 crore in the preceding quarter of last year. Kailash Tarachandani, CEO of Inox Wind, said, "Q4 has been a milestone quarter for the company as we successfully transitioned to 3 MW WTG (wind turbine generators) supplies from 2 MW WTGs. Our debt levels have also come down drastically and we expect to be net debt free within H1 FY25."

Inox Wind bagged single largest wind project order of 1,500 MW from a renowned power utility for the quarter under review, leading to a robust order book of 2.7 GW (excluding letter of intent) having a revenue potential of Rs 18,000 crore.

Inox Wind Revises Record Date For 3:1 Bonus Issue: As per the BSE filing of the company dated May 10, 2024, "As per the advise received from BSE and NSE, the revised Record Date has been fixed for Saturday, 25th May, 2024 for the purpose of ascertaining the eligibility of Shareholders for issuance of Bonus Equity Shares of the Company in the ratio of 3:1 i.e. 3 (Three) new fully paid up bonus equity shares of Rs. 10/- each for every i (One) fully paid-up existing equity share of Rs. 10/- each held, as to be approved by Members of the Company at the Extra-ordinary General Meeting (EGM) scheduled to held on Friday, 17th May, 2024."

How To Be Eligible For Inox Wind Bonus Shares? Shareholders who hold the Inox Wind's shares before the ex-date and record date will become eligible to get bonus shares from the company. Eligibility for bonus shares will depend on record date and ex-date of the shareholders. The record date is the cut-off date that the company sets. In Inox Wind case, record date is now May 25.

Inox Wind Share Performance: The 52-week high price of Inox Wind Ltd shares on BSE is Rs 663.00 per share (as on 26/04/2024) and 52-week low price is Rs 111.10 per share (as on 23/05/2023), respectively. The company has a market capitalisation of Rs 19,556.91 crore. Inox Wind shares declined 4.50% in last 2-weeks, gave return of 563% in last 2-years, and surged 697% in last 3-years. In last 5-years, Inox Wind stock zoomed 941%. Inox Wind share has PE of -84.87, ROE at -11.02, and EPS (TTM) of -7.07.

About: Inox Wind Limited (IWL) is India's leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 8 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals - chemicals and renewable energy. IWL is a fully integrated player in the wind energy market with four state-of-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh, where Blades, Tubular Towers, as well as Hubs & Nacelles are manufactured, according to BSE filing of the company.

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