Multibagger Energy Stock To Reward Shareholders With 3 Bonus Shares, Hits 52-Week High

Inox Wind Ltd shares hit new 52-week high in trade today (April 25, 2024) soon after its Board of Directors recommended issuance of bonus shares in the proportion of 3:1 implying shareholders will be eligible to receive 3 bonus shares for every one share held as on the record date.

The Board of Inox Wind Ltd is yet to issue the record date for bonus issue. Last trading price of Inox Wind share on BSE is Rs 646.10 apiece with intraday gain of 7.19%. Inox Wind has a market capitalisation of Rs 21,059.53 crore. Inox Wind shares offered return of 226% in last 6-months. More details below:

Inox Wind Declares Bonus Share: As per the regulatory filing of the company dated April 25, "Board of Directors of the company at its meeting held on 25th April 2024 has proposed the issuance of bonus shares of 3:1 (three bonus equity shares for every one existing equity share) out of the accumulated reserves of the company. The Bonus shares shall be issued to the shareholders whose name appears in the Register of Members as on the 'Record Date'."

Devansh Jain, Executive Director of INOXGFL Group, said, "Over the course of past two years, Inox Wind has taken multiple actions which have contributed to its strong position today. The management appreciates the support of all our shareholders and this bonus is a befitting reward for their confidence and faith in the company, and we would want them to continue on the exciting growth journey ahead."

Inox Wind Share Performance: The 52-week high price of Inox Wind Ltd shares on BSE is Rs 658.50 per share (as on 25/04/2024) and 52-week low price is Rs 103.00 per share (as on 27/04/2023), respectively. Inox Wind shares offered return of 31% in last 1-month, soared 38% in last 3-months, jumped massively by 514% in last 1-year, and gained 475% in last 2-years. In last 3-years, Inox Wind shares zoomed 865%. Inox Wind share has PE of -90 and EPS (TTM) of -0.21.

Inox Wind Latest Order Win: The BSE filing of the company stated, "Inox Wind Limited (IWL), India's leading wind energy solutions provider, has bagged an order for the supply of 210 MW of Wind Turbine Generators (WTGs) from Hero Future Energies (HFE), one of the leading renewable energy players in India. The order is for IWL's state-ofthe-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises of equipment supply with certain add-on services. Additionally, Inox Wind will also provide post commissioning multi-year operations & maintenance (O&M) services. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India."

Inox Wind Financials: The company on February 9, 2024 announced net profit at Rs 1.81 crore for the December 2023 quarter as a result of higher revenues. It recorded a loss of Rs 287.86 crore for the October to December quarter an year ago, as per the exchange filing. Total income soared to Rs 506.88 crore in the quarter under consideration from Rs 237.68 crore reported in the similar quarter of last year. The company'S EBIDTA was declared at Rs 99.5 crore in the quarter as compared to the EBITDA loss of Rs 172.5 crore in the similar quarter of last year. Its orderbook stood at 2.6 GW.

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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