Inox Wind’s Credit Rating Upgraded by CARE Ratings to ‘CARE A1+’

Inox Wind (IWL) has announced that CARE Ratings has upgraded the company’s credit ratings. The rating upgrade reflects a stronger financial position and improved business prospects.

Short-Term Rating Upgraded to ‘CARE A1+’

CARE Ratings has upgraded IWL’s short-term rating from ‘CARE A1’ to ‘CARE A1+’. This move highlights the company’s solid financial standing, supported by its use of banking facilities such as letters of credit (LC) and bank guarantees (BG), the company stated in a regulatory filing.

Long-Term Rating Upgraded to ‘CARE A+ Stable’

In addition to the short-term rating, IWL’s long-term rating has been upgraded to ‘CARE A+ / Stable’ from ‘CARE A / Stable’. This positive revision is attributed to significant improvements in IWL’s business risk profile, driven by better operating and financial performance.

Expansion and Strong Order Book Drive Growth

Inox Wind’s business is rapidly expanding, buoyed by a strong growth outlook in its order execution and profitability. The company has an impressive order book of approximately 3.5 GW, bolstered by a large order pipeline. With India focusing on expanding renewable energy capacities in the coming decade, IWL is poised for further growth.

IWL’s Role in India’s Renewable Energy Market

Inox Wind is one of India’s leading wind energy solutions providers, servicing Independent Power Producers (IPPs), Utilities, PSUs, and Corporate investors. The company is a part of the US$ ~12 billion INOXGFL Group, which has over nine decades of legacy and focuses on chemicals and renewable energy.

Integrated Wind Energy Solutions Provider

IWL is a fully integrated player in the wind energy sector, operating four state-of-the-art manufacturing plants located in Gujarat, Himachal Pradesh, and Madhya Pradesh. The company manufactures key components such as Blades, Tubular Towers, Hubs, and Nacelles. With its advanced 3 MW series Wind Turbine Generator (WTG) offering, IWL boasts a manufacturing capacity of 2.5 GW per annum.

Stock Performance 

On January 13, 2025, Inox Wind share price trades down by 4.35% at 1:52 PM (IST) at ₹148.60, while the BSE benchmark Sensex traded down by 922.30 points to 76,456.60. Inox Wind share price reached a 52-week high of ₹262.10 on September 23, 2024, and a 52-week low of ₹102.38 on January 18, 2024. As per BSE, the total traded volume for the stock stood at 2.71 lakh shares with a turnover of ₹4.13 crore.

At the current price, Inox Wind shares are trading at a price-to-earnings (P/E) ratio of 651.48x, based on its trailing 12-month earnings per share (EPS) of ₹0.24, and a price-to-book (P/B) ratio of 9.07, according to exchange data.

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