Inox Wind Opens All Manufacturing Facilities with Permission from Local Authority

Inox wind, a leading Wind Energy Solutions provider in India, has reopened its manufacturing facilities across the country.

After lockdown order issued by the government in the wake of containment of coronavirus pandemic, Kailash Tarachandani-led company had earlier on March 26, 2020 suspend operations at all its three manufacturing sites situated at Ahmedabad, Barwani and Una in the states of Gujarat, Madhya Pradesh and Himachal Pradesh respectively.

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Now, the Noida-headquartered company has informed to the stock exchange that after “obtaining requisite permission from concerned district administration, it has now resumed operations at all its three manufacturing plants in compliance with all the safety guidelines and directives issued by the Central and State Governments and local administration to safeguard the employees, labourers and all other stakeholders to prevent the spread of COVID-19.”

The company’s servicing client base includes independent power producers (IPPs), utilities, public sector undertakings (PSUs), corporates and retail investors. It is a fully integrated player in the wind energy market with a cumulative manufacturing capacity of 1,600 MW.

Inox Wind’s Ahmedabad-based plant manufactures blades and tubular towers while hubs and nacelles are manufactured at it’s Una plant.

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Moreover, the company’s new integrated manufacturing facility at Barwani manufactures blades, towers and will also manufacture nacelles and hubs.

During its third quarter of FY20, the company had reported higher consolidated revenue of Rs 173 crore, against Rs 139 crore, q-o-q basis, in the previous quarter Q2 of FY20. It had also achieved higher EBITDA of Rs 24 crore, from an EBITDA of Rs 4 crore in Q2 FY20.

The reason behind the company’s better results performance was due to fresh supplies of WTGs for new orders.

However, it had posted a consolidated net loss of Rs 27.47 crore during Q3 FY20, as compared to a net profit of Rs 1.69 crore in the same period last year.