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Business Standard
3 days ago
- Business
- Business Standard
Inox Wind share falls 5% as investors book profits after strong Q4 results
Inox Wind share price: Renewable energy (RE) company Inox Wind shares were dropping in trade on the first trading day of the month i.e. Monday, June 2, 2025, with the stock falling up to 5.35 per cent to hit an intraday low of ₹184.55 per share. At 1:51 PM, Inox Wind shares were trading 4.85 per cent lower at ₹185.55. In comparison, BSE Sensex was trading 0.14 per cent lower at 81,333.07 levels. Why did Inox Wind share price fall in trade today? Inox Wind share price fell as investors booked profits after the company posted strong March quarter of financial year 2025 (Q4FY25) results. The company's profit after tax (PAT) skyrocketed 391 per cent year-on-year (Y-o-Y) to ₹190 crore (Q4FY25), from ₹39 crore a year ago (Q4FY24). The company claimed this to be its highest ever quarterly profit. Inox Wind's revenue jumped 130 per cent Y-o-Y to ₹1,311 crore in Q4FY25, from ₹569 crore a year ago. At the operational level, earnings before interest, tax, depreciation and amortisation (Ebitda) zoomed 103 per cent annually to ₹290 crore in the March quarter of FY25, from ₹143 crore in the March quarter of FY24. The order book grew 21 per cent Y-o-Y to 3,203 MW, as against 2,656 MW a year ago. Devansh Jain, executive director, INOXGFL Group Group, said, 'Inox Wind continues to deliver strong results reporting its highest ever quarterly profit, a testament of the efforts of the company over the past quarters. I am also delighted to announce that the Hon'ble NCLT has approved the scheme of arrangement between Inox Wind Energy and Inox Wind, which further fortifies Inox Wind's balance sheet. With the strong and favourable macroeconomic environment for the Indian renewable energy sector, our Group is well positioned to capitalise on the opportunities as one of the leaders in energy transition with our presence across wind, solar, EVs, BESS and renewable power generation.' About Inox Wind Inox Wind Limited (IWL) is among India's leading providers of wind energy solutions, catering to Independent Power Producers (IPPs), utilities, public sector undertakings (PSUs), and corporate investors. A part of the about $11 billion INOXGFL Group—an industrial conglomerate with a legacy spanning over 90 years—Inox Wind operates at the intersection of two key sectors: chemicals and renewable energy. Inox Wind is a fully integrated player in the wind energy market, with four advanced manufacturing facilities located in Gujarat, Himachal Pradesh, and Madhya Pradesh. These plants produce essential wind turbine components, including blades, tubular towers, hubs, and nacelles. The company's cutting-edge 3 MW wind turbine generator (WTG) series supports a total annual manufacturing capacity of approximately 2.5 GW. Inox Wind's subsidiary, Inox Green Energy Services Ltd., is India's only listed pure-play renewable operations and maintenance (O&M) company, managing a strong portfolio of ~5.1 GW and positioned for significant growth. Another subsidiary, Inox Renewable Solutions (formerly Resco Global Wind Services Pvt. Ltd.), provides turnkey EPC (engineering, procurement, and construction) services for wind energy projects, including the development of shared infrastructure such as power evacuation systems. Inox Wind delivers comprehensive wind energy solutions—spanning design, manufacturing, project execution, and long-term maintenance.
Time of India
3 days ago
- Business
- Time of India
Inox Wind shares slide 3% after Q4 results, but brokerages predict 21% upside
Shares of Inox Wind on Monday slid 3.2 per cent to their day's low of ₹188.75 on the BSE despite a sharp 391 per cent rise in its consolidated Q4FY25 PAT, its highest ever, reported at ₹190.34 crore. For the quarter ended March 30, 2025, the company's net profit rose 391 per cent to ₹190.34 crore, up from ₹38.74 crore in the same quarter of the previous year, while the revenue from operations increased by 130 per cent YoY to ₹1,311 crore. Further, the company's order book also witnessed a robust growth of 21 per cent YoY to ₹3,203 crore versus ₹2,656 crore in the corresponding quarter of the previous financial year. The order book stood at 3.2 GW, as the FY25 order inflows stood at 1.5 GW. Inox Wind also informed that its subsidiary Inox Green's renewables O&M portfolio surged to 5.1 GW, with a foray into the solar O&M segment. The merger between Inox Wind Energy and IWL was also approved, while the liabilities on IWL's balance sheet were reduced by ₹2,050 crore. 'Inox Wind continues to deliver strong results, reporting its highest ever quarterly profit, a testament to the efforts of the company over the past quarters. I am also delighted to announce that the Hon'ble NCLT has approved the scheme of arrangement between Inox Wind Energy and Inox Wind, which further fortifies Inox Wind's balance sheet. With the strong and favourable macroeconomic environment for the Indian renewable energy sector, our Group is well positioned to capitalise on the opportunities as one of the leaders in energy transition with our presence across wind, solar, EVs, BESS and renewable power generation,' said Devansh Jain, Executive Director of INOXGFL Group.
Economic Times
3 days ago
- Business
- Economic Times
Inox Wind shares slide 3% after Q4 results, but brokerages predict 21% upside
Here are the details: Inox Wind Q4 results Live Events Inox Wind share price target After the Q4 results, here's what the brokerage firms said: Nuvama: Buy | Target Price: Rs 236 ICICI Securities: Buy | Target Price: Rs 230 JM Financial: Buy | Target Price: Rs 216 (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Inox Wind on Monday slid 3.2% to their day's low of Rs 188.75 on the BSE despite a sharp 391% rise in its consolidated Q4FY25 PAT, its highest ever, reported at Rs 190.34 this, various brokerage firms have shared their views on the company's performance, giving target prices as high as Rs 236, which is an upside potential of 21% from the stock's closing price on the quarter ended March 30, 2025, the company's net profit rose 391% to Rs 190.34 crore, up from Rs 38.74 crore in the same quarter of the previous year, while the revenue from operations increased by 130% YoY to Rs 1,311 the company's order book also witnessed a robust growth of 21% YoY to Rs 3,203 crore versus Rs 2,656 crore in the corresponding quarter of the previous financial order book stood at 3.2 GW, as the FY25 order inflows stood at 1.5 Wind also informed that its subsidiary Inox Green's renewables O&M portfolio surged to 5.1 GW, with a foray into the solar O&M merger between Inox Wind Energy and IWL was also approved, while the liabilities on IWL's balance sheet were reduced by Rs 2,050 crore.'Inox Wind continues to deliver strong results, reporting its highest ever quarterly profit, a testament to the efforts of the company over the past quarters. I am also delighted to announce that the Hon'ble NCLT has approved the scheme of arrangement between Inox Wind Energy and Inox Wind, which further fortifies Inox Wind's balance sheet. With the strong and favourable macroeconomic environment for the Indian renewable energy sector, our Group is well positioned to capitalise on the opportunities as one of the leaders in energy transition with our presence across wind, solar, EVs, BESS and renewable power generation,' said Devansh Jain, Executive Director of INOXGFL Institutional Equities has given a 'Buy' rating on Inox Wind with a raised target price of Rs 236, up from Rs brokerage noted that Q4FY25 execution was modest at 236MW versus an estimate of 281MW, but strong EBITDA margins of 19.9% helped cushion the revenue miss. PAT of Rs 1.9 billion met estimates, backed by a product-heavy mix. Nuvama retained its FY26/27 execution guidance of 1.2GW/2GW and noted the company's visibility supported by a 3.2GW order backlog. The firm tweaked earnings to account for lower EPC execution, adjusted margins, and amalgamation-related EPS Securities has reiterated a 'Buy' rating on Inox Wind with a revised target price of Rs 230, up from Rs 228 brokerage highlighted that Inox Wind reported a strong FY25 performance, with revenue doubling to Rs 36 billion and execution rising to 0.7GW. EBITDA tripled to Rs 8 billion. The firm has factored in the execution of 1.2GW in FY26 and 1.7GW in FY27, driven by the company's robust order book of 3.2GW, which is 4.5x FY25 execution. The company also received fresh orders of 1.5GW and introduced a target to execute 2GW in FY27, supporting a positive Financial has maintained a 'Buy' rating on Inox Wind with a target price of Rs 216. The brokerage stated that Q4FY25 revenue rose 2.4x YoY to Rs 12.8 billion due to increased execution and improved blended realisation of Rs 54 million/MW. PAT stood at Rs 1.9 billion, in line with expectations, while EBITDA margin came in at 20%, up from 19% YoY. The firm expects execution to accelerate from 705MW in FY25 to 1,150MW in FY26 and 1,750MW in FY27, projecting revenue, EBITDA, and PAT CAGR of 45%, 46%, and 55%, respectively, for FY25–28.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 days ago
- Business
- Time of India
Inox Wind shares slide 3% after Q4 results, but brokerages predict 21% upside
Shares of Inox Wind on Monday slid 3.2% to their day's low of Rs 188.75 on the BSE despite a sharp 391% rise in its consolidated Q4FY25 PAT, its highest ever, reported at Rs 190.34 crore. Following this, various brokerage firms have shared their views on the company's performance, giving target prices as high as Rs 236, which is an upside potential of 21% from the stock's closing price on Friday. Here are the details: Inox Wind Q4 results For the quarter ended March 30, 2025, the company's net profit rose 391% to Rs 190.34 crore, up from Rs 38.74 crore in the same quarter of the previous year, while the revenue from operations increased by 130% YoY to Rs 1,311 crore. Further, the company's order book also witnessed a robust growth of 21% YoY to Rs 3,203 crore versus Rs 2,656 crore in the corresponding quarter of the previous financial year. Live Events The order book stood at 3.2 GW, as the FY25 order inflows stood at 1.5 GW. Inox Wind also informed that its subsidiary Inox Green's renewables O&M portfolio surged to 5.1 GW, with a foray into the solar O&M segment. The merger between Inox Wind Energy and IWL was also approved, while the liabilities on IWL's balance sheet were reduced by Rs 2,050 crore. 'Inox Wind continues to deliver strong results, reporting its highest ever quarterly profit, a testament to the efforts of the company over the past quarters. I am also delighted to announce that the Hon'ble NCLT has approved the scheme of arrangement between Inox Wind Energy and Inox Wind, which further fortifies Inox Wind's balance sheet. With the strong and favourable macroeconomic environment for the Indian renewable energy sector, our Group is well positioned to capitalise on the opportunities as one of the leaders in energy transition with our presence across wind, solar, EVs, BESS and renewable power generation,' said Devansh Jain, Executive Director of INOXGFL Group. Also read: No betting on market till July; AI companies to take a couple of years to take off in India: Ajay Bagga Inox Wind share price target After the Q4 results, here's what the brokerage firms said: Nuvama: Buy | Target Price: Rs 236 Nuvama Institutional Equities has given a 'Buy' rating on Inox Wind with a raised target price of Rs 236, up from Rs 223. The brokerage noted that Q4FY25 execution was modest at 236MW versus an estimate of 281MW, but strong EBITDA margins of 19.9% helped cushion the revenue miss. PAT of Rs 1.9 billion met estimates, backed by a product-heavy mix. Nuvama retained its FY26/27 execution guidance of 1.2GW/2GW and noted the company's visibility supported by a 3.2GW order backlog. The firm tweaked earnings to account for lower EPC execution, adjusted margins, and amalgamation-related EPS dilution. ICICI Securities: Buy | Target Price: Rs 230 ICICI Securities has reiterated a 'Buy' rating on Inox Wind with a revised target price of Rs 230, up from Rs 228 earlier. The brokerage highlighted that Inox Wind reported a strong FY25 performance, with revenue doubling to Rs 36 billion and execution rising to 0.7GW. EBITDA tripled to Rs 8 billion. The firm has factored in the execution of 1.2GW in FY26 and 1.7GW in FY27, driven by the company's robust order book of 3.2GW, which is 4.5x FY25 execution. The company also received fresh orders of 1.5GW and introduced a target to execute 2GW in FY27, supporting a positive outlook. JM Financial: Buy | Target Price: Rs 216 JM Financial has maintained a 'Buy' rating on Inox Wind with a target price of Rs 216. The brokerage stated that Q4FY25 revenue rose 2.4x YoY to Rs 12.8 billion due to increased execution and improved blended realisation of Rs 54 million/MW. PAT stood at Rs 1.9 billion, in line with expectations, while EBITDA margin came in at 20%, up from 19% YoY. The firm expects execution to accelerate from 705MW in FY25 to 1,150MW in FY26 and 1,750MW in FY27, projecting revenue, EBITDA, and PAT CAGR of 45%, 46%, and 55%, respectively, for FY25–28. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ETMarkets WhatsApp channel )
Mint
28-05-2025
- Business
- Mint
Inside India's hush-hush hype luxury economy where sneakers cost more than gold
Would you pay ₹7 lakh for a pair of limited-edition Nike-Dior Air Jordan sneakers or ₹50,000 for a tiny monster stuffed toy or ₹20,000 for lip gloss iPhone covers? India's young, style-conscious and wealthy shoppers are shelling out big money for such hype-driven luxury. The country's super-rich shoppers are driving demand for hype wear and collectibles, some of which is never officially sold in the country. Demand is propelled by scarcity, brand hype, and social media buzz created by global fashion houses, streetwear giants, or celebrity-led brands through exclusive drops and collaborations. Buyers pay a premium for underground luxury on resale platforms such as Culture Circle and Crepdog Crew. Some even treat it as an investment which they can flip in the future. As high as 72% of buyers are under 28 years of age—mostly males from big metros, according to Devansh Jain, who co-founded Culture Circle with Ackshay Jain. But sales in tier II cities are now growing at over 60% month-on-month, he said. The average spend is about ₹32,000 per order, with some users spending lakhs within weeks of their first purchase. Handbags are being picked up by women aged 25-32, often as a first, big luxury purchase, Jain said. Many customers are purchasing two or three sizes of the same item: one to wear, others to store 'like wine" in the hope of appreciation. Hype wear or limited-edition clothes, shoes and accessories are a global style phenomenon built on scarcity and status. While they're tough to find in stores and sell out fast, they reappear (usually brand new) on resale platforms at much higher prices, targeting those who want a shot at exclusivity. Among India's young consumers, search for such alternative assets and a hunger to own and experience luxury also reflects growing affluence. Also read | Foreign luxury jewellers chase India's young, wealthy buyers Luxury sneakers and Stanley tumblers to collectible Japanese soft toys and Hailey Bieber's lip gloss are flying off the shelves as global novelty 'drops" or limited collections find buyers in India. Even everyday items like ₹7,500 Off-White branded arrow socks or ₹8,000 Supreme branded water bottle are turning into status symbols. Some sellers even stay anonymous because they are holding stock worth crores of rupees, multiple collectors told Mint, speaking on the condition of anonymity. Culture Circle recently facilitated the sale of The Air Jordan 1 High OG Dior, Nike's streetwear shoes with Dior's luxe detailing and monogram under the shoe. Only 8,500 pairs exist worldwide, making the sneaker a coveted collector's item, with resale prices crossing ₹7 lakh apiece. A footmat to most, the Virgil Abloh x Ikea Marekrad "Wet Grass" rug stirred a resale frenzy, fetching around ₹1.4 lakh. Abloh, a designer and an artist, is known for blending streetwear with high fashion. The collection included over a dozen items sold globally, with the rug originally priced at $249, selling for 560% more than its base price. On Culture Circle and Crepdog Crew, you can find the special edition Rhode lip-gloss case to a ₹400,000 Louis Vuitton x Takashi Murakami Keepall Bandouliere 50 Black bag, which otherwise retails for ₹320,000. These are frequently resold at steep markups. Sneaker love in Ludhiana A pair of rare, red sneakers can fetch up to ₹30 lakh and go even as high as ₹50 lakh on Culture Circle, according to Jain. Last month, a woman in Delhi walked into its physical stores and bought every pair of special-edition sneakers in her size. No questions asked, no discounts needed. And the motivation? 'Bragging rights, cred, and being able to say, 'You can't find this anywhere else." In Haryana's Sonipat, Ronak Batra, 26, runs a company called Kicks Charger that sells special-edition sneakers from Adidas and Nike to On Cloud and Yeezy. The lawyer, who is not practising anymore, said he spends all his time acquiring special-edition sneakers from these retail stores and then reselling them. "Earlier, when the competition was less, the percentage you could earn from a sneaker could go up 15-20%, but now that's gone down somewhat and is around 10%, especially if the pair is under ₹10,000," he said. Also read | DS Luxury bets on premium fashion boom, plans 30 stores by FY28 as India's luxury market is set to boom This month, he sold a ₹35,000 The Air Jordan 1 'Lost & Found' Chicago', which became popular in 2022 for its nostalgic design that replicates a vintage 1985 sneaker discovered in a dusty stockroom, complete with aged details and a mismatched box lid. It taps into sneaker culture's love for storytelling and history, while appealing to both old-school collectors and new fans. Batra, who started collecting himself at the age of 21 and slowly turned it into a business, said, 'Globally, there must be under 10,000 such pairs. Though the real number is unknown, but collectors know it is a special shoe." Earlier, his clients were in college, but now the hype shoes business is transcending the age barrier. He even has 50-year-old buyers who are friends of his father. 'Maybe some of these people won't understand the cultural significance, but their family members tend to teach them about them as well." Sneakers also top the demand charts. Some buyers will even pay double, triple and even 10 times the original price just to own a sneaker seen on a celebrity's Instagram. A black-and-white pair of Nike shoes named 'Panda" Dunks sold 780 units in three minutes around the world. Read this | Luxury Boom: Accor expands in India as rising prosperity fuels hotel demand The obsession is not confined to the metro cities. Ludhiana—with a population 1.6 million—now ranks among the top five in luxury sneaker sales for Culture Circle. Business families' Gen Z kids are apparently driving that trend, said co-founder Devansh Jain. 'No logic' Labubu dolls, a line of expressive Japanese soft toys, are now prized collectibles among Indian buyers. There's a surge in demand for brands that aren't even officially in India: Rick Owens, LOEWE, Eric Emmanuel, Gymshark, Lululemon. And if something's spotted on a celebrity — whether it's Hailey Bieber or a cricketer from India's playing XI — it sells out in minutes. Prices can spike up to 400% purely because of an Instagram story. Gurugram-based realtor and collector Abhijeet Singh, 25, a sneakerhead who has 130 pairs, buys in doubles so he can keep one and wear the other. He recently paid ₹480,000 for the Nike Air Jordan Low, but his average purchase price is ₹25,000-30,000. 'For me, it's all about authenticity," Singh said. 'Earlier, when I began to collect, there were no means to cross-check products, but now you can upload the original bill or receipts you get with the product on the Culture Circle platform to cross-check on a third-party platform if it's a legitimate product." As for demand, 'there's no logic to it", he said. 'If it's rare, it is wanted. If it's sold out, it's worshipped." And read | Ticking up: Hublot CEO on India's growing appetite for luxury watches
