Inox Wind eyes profitability on full year basis in FY25

The company is looking at a topline of around Rs 5,000 crore in FY25, almost 2.8 times more than it posted in FY24, he said.

Wind energy solutions provider Inox Wind is looking to become profitable on a full year basis in the current financial year.

“Every quarter is getting better than the previous. In Q1, we were Ebitda positive, in Q2, we were PAT (profit after tax) positive. Since Q3, we have been generating profits,” said Devansh Jain, executive director at the company.

Inox Wind had narrowed its losses from Rs 697 crore in FY 23 to Rs 51 crore in FY24.

The company is looking at a topline of around Rs 5,000 crore in FY25, almost 2.8 times more than it posted in FY24, he said.

“As revenues increase, operational efficiencies will kick in, which will improve profitability. Since net debt is coming down , it will also help,” he said.

The company posted revenues of Rs 1743 crore in FY24. In Q4FY24, it posted a net profit of Rs 38 crore on revenues of Rs 528 crore.

“We have a strong order book of 2.7 GW with a revenue visibility of Rs 18,000 crore ,” he said.

Jain said the company has moved to 3MW WTGs (wind trubine generators) products from 2MW WTGs products in Q4FY24, which was a game changer for it.

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He also said that the company is looking to be net debt free in H1FY25.

“We have reduced net debt from Rs 3,000 crore to Rs 650 crore in the last 15 months . With significant free cash flows, we will reduce it further,” he said .

Inox Wind raised Rs 1,300 crore from global investors in Q2 of FY24, which was used to reduce debt.

Jain said the company’s subsidiary Inox Green Energy is looking at inorganic opportunities to grow and is looking at some acquisitions.