Inox Wind establishes four subsidiaries for wind farm development

10 Jun 2024 , 01:35 PM

Inox Wind Ltd., a wind turbine manufacturer, has established four wholly-owned subsidiaries: Junachay Wind Energy Pvt Ltd., Dharvi Kalan Wind Energy Pvt Ltd., Dangri Wind Energy Pvt Ltd., and Kadodiya Wind Energy Pvt Ltd.

These subsidiaries, as stated in an exchange filing on June 8, will concentrate on wind farm development across India. The newly incorporated subsidiaries are based in India and are yet to initiate their business operations.

Recently, Inox Wind reported a net profit of ₹20.3 Crore, contrasting with a net loss of ₹1.8 Crore in the previous year. Inox Wind is affiliated with the $8-billion INOXGFL Group, which operates in chemicals and renewable energy sectors.

Management disclosed in a conference call in February that significant order wins in the last quarter of FY24 had expanded the total order book to approximately 2.6 GW, ensuring robust revenue growth.

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