Inox Wind Limited (INOXWIND) is not just making waves; It’s been making a tidal surge, jumping more than 394% last year and gaining a staggering 91% so far in 2024.
Analysts, who are now focusing on this remarkable performance, are buzzing with forecasts of further upside, setting target prices between ₹270 and ₹315.
Stock Performance Overview
Inox Wind is not only riding the wave of renewable energy but also leading it. The stock has turned into a multi-bagger wonder in the last year, jumping 394% and gaining a huge 91% in 2024 alone. The speed continues: September saw a solid 12% increase, marking the third consecutive month of increases, followed by a 20.4% increase in August and an amazing 29.4% increase in July.
Still, it has yet to be a flawless rise. There have been several ups and downs, including a 3.5% decline in June and a 6.3% decline in May, reminding investors of the market’s inconsistency.
The first four months of the year were full of ups and downs. There was a decrease of 4.3% in January, while there was a jump of 26.11% in February. It fell 13.5% in March but bounced back with a 20.3% rise in April.
But these ups and downs did not exhaust the stock’s overall shining trajectory, which rose from its 52-week low of ₹47.06 last September to a record peak of ₹250.45 on September 11, 2024. That is a staggering 407% jump.
Income and financial performance
In its latest financial revelation, Inox Wind not only performed well but it surprised, turning a strong profit of ₹50 crore in the June quarter from a loss of ₹65 crore in the same quarter last year. This dramatic turnaround was not just a stroke of luck; This was driven by an 85% increase in revenue, which increased from ₹352 crore to ₹651 crore, underscoring a powerful sales strategy.
The company’s EBITDA not only increased; It quadrupled from ₹31.3 crore to ₹136.1 crore, while the EBITDA margin expanded from just 9% to 21.3%, driven by a more profitable sales mix. Analysts expect margins to remain stable at around 15-16% for the financial year, with a glimpse of potential growth.
Technical and fundamental outlook
With such a massive rally, eyes are on what happens next. Technical analysts are bullish, seeing patterns that suggest continued strength, driven by solid earnings and a financial revival. Inox Wind’s financial acumen, highlighted by its growing revenues and expanding margins, provides a solid foundation for optimism.
Inox Wind is poised for continued growth at the forefront of growing renewable energy demand. As it continues to streamline operations and broaden its market footprint, the company’s prospects align with the high-end analyst target values. Still, investors have to deal with the twin streams of market volatility and sector-specific challenges.
Yet, with a strong backdrop of earnings momentum and industry upliftment, Inox Wind Limited is not only staying the course, it is paving a path towards new heights that will appeal to those looking to take advantage of the renewable energy revolution. Provides an attractive opportunity for.
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