Winds die down for Inox Wind in Q1FY17

Inox Wind has declared its Q1FY17 results on Friday after market hours. The company’s revenue has declined by 32.4 per cent to Rs 435 crore in Q1FY17 as compared to same period in previous financial year. Its EBITDA too has decreased by 51.3 per cent to Rs 45.7 crore in Q1FY17 on a yearly basis. Inox Wind’s EBITDA margin has contracted by 400 basis points to 10.5 per cent in Q1FY17 as compared to same period in previous fiscal.

The company’s PAT has significantly dropped by 80.4 per cent to Rs 11.8 crore in Q1FY17 on a yearly basis. Its PAT margin has contracted by 670 basis points to 2.7 per cent in Q1FY17 as compared to same period in previous financial year. Inox Wind has debt of Rs 640 crore as of FY16.

Inox Wind has total order book of 1240 MW as in Q1FY17. The company’s total order book will have estimated execution time period of 12 to 15 months. It is set to launch 120 m hybrid tower in month of September-October 2016.

The share price of Inox Wind has increased by 3.12 per cent on bourses; and closed at Rs 191.85 on Friday.

Inox Wind manufactures wind turbine generators (WTGs) and provides turnkey solutions by supplying WTGs. The company offers services, including wind resource assessment, site acquisition, infrastructure development, erection and commissioning, and also long term operations and maintenance of wind power projects.