Inox Wind shares with 2,824% returns in five years are in a downtrend; price targets, Q4 preview and more  

Shares of Inox Wind are in a downtrend since September end last year. The multibagger stock, which hit a record high of Rs 262.10 on September 23, 2024 has lost over 42% in value till date. The green energy stock, which has seen correction in the  short term, delivered multibagger returns in the long term. 

Inox Wind stock rose 517% in two years and 453% in three years. In five years, the stock zoomed 2,824%. 

Brokerage Systematix has assigned a price target of Rs 221 on the Inox Wind stock. It expects a 144% YoY  and 41% QoQ rise in Q4 revenue led by improving deliveries of 3MW WTG sets.

Consolidated EBITDA (excluding other income) is likely to rise 152% YoY and 24% QoQ to Rs 257 crore during the quarter. 

"Improved execution and commissioning in 4QFY25 is expected to be driven by a pickup in EPC and continued ramp-up of manufacturing operations. We estimate interest costs to drop by 50% YoY and 21% sequentially this quarter, resulting in a net profit after tax (before minority interest) of Rs 1,887mn (+68% QoQ), said Systematix.

Expressing its bullish stance on the stock, the brokerage said , "We have a BUY rating on the stock, which trades at 21x/18x FY26E/FY27E P/E. Monitoring the execution pace and EPC completions remains crucial, given that abrupt policy changes and subdued order inflows are risks to the company."

Inox Wind shares have a beta of 1.7, indicating high volatility in a year. The multibagger green energy stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

JM Financial has a price target of Rs 212 on the multibagger stock.

It has a 'Buy’ rating based on FY27 earnings implying 24x P/E on FY27E.  

JM Financial expects execution volume to rise from 376 MW in FY24 to 1,800 MW in FY27, while its O&M fleet is to expand from 3.2 GW in FY24 to 3.6 GW by FY27. 

"Strong execution momentum, coupled with a growing O&M fleet and in-house EPC capabilities, is expected to drive Revenue and EBITDA CAGR of 77% and 84% from FY24- FY27," said JM Financial. 

The multibagger stock climbed 7.45% to Rs 151.45 on April 11 against the previous close of Rs 140.95 on BSE. Market cap of Inox Wind climbed to Rs 19,745 crore on BSE. Total 4.06 lakh shares of the firm changed hands amounting to a turnover of Rs 6.06 crore on BSE.

Inox Wind is an India-based integrated wind energy solutions provider. The company is engaged in the business of manufacture and sale of wind turbine generators (WTGs). It also provides erection, procurement and commissioning (EPC), operations and maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.