Inox Wind gross revenue totals Rs 169 crore in Q1

Noida (Uttar Pradesh) [India], August 13 : Leading wind energy solutions provider Inox Wind said on Friday it recorded gross revenue of Rs 169 crore for Q1 FY22 as compared to Rs 97 crore for Q1 FY21, resulting in an increase of 74 per cent.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were Rs 2.7 crore as compared to negative EBITDA of Rs 26 crore in Q1 FY21.
The company said production and execution was impacted due to the second wave of Covid-19 which also resulted in non-availability of oxygen for industrial applications.
Consequently, the production of towers stopped and the supply of complete sets was delayed. Now the production and execution is in full swing.
"We are on track to launch the 3.3 MW turbine during this wind season. Execution of the Continuum project Nani Virani (SECI II SPV) and various retail orders is progressing well and commissioning of turbines is taking place progressively."
Inox Wind said its consolidated order book stands at 1,301 MW.
The company said it is contemplating raising funds by way of non-convertible debentures, the proceeds of which will be utilised to optimise working capital and retire high-cost debt.
It will also lead to improve short-term fund availability. Certain other initiatives are in progress which will lead to a significant reduction in financial costs, it added.
Inox Wind provides end-to-end integrated solutions for the entire wind power value chain. It has three manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh. Its manufacturing capacity stands at 1,600 MW per year.