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Kailash Tarachandani, the CEO of Inox Wind, remarked, The recent round of fundraising by IWL's promoter and the subsequent capital infusion into IWL is another significant step towards our stated objective of becoming a net-debt free company. The ongoing ramp up of our operations, technological upgrade to the globally established 3.3 MW WTGs and our strong financial position will help us embark on a robust growth journey, aided by the macro tailwinds.
Inox Wind is India's leading wind energy solutions provider servicing IPPs, utilities, PSUs & corporate investors. It is a fully integrated player in the wind energy market with three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh.
On a consolidated basis, Inox Wind reported net loss of Rs 24.12 crore in Q2 September 2023 as against net loss of Rs 132.87 crore in Q2 September 2022. Net sales rose 246.04% YoY to Rs 370.64 crore in Q2 September 2023.
Shares of Inox Wind rose 2.79% to Rs 287.85 on 2 December 2023.
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