Suzlon vs Inox Wind: Which Renewable Energy Stock is More Charged Up?

India achieved a landmark feat in 2024 by crossing 200 GW of renewable energy capacity, reinforcing its ambitious goal of reaching 500 GW from non-fossil sources by 2030. This rapid growth has put the spotlight on renewable energy players like Suzlon Energy and Inox Wind, two prominent companies at the forefront of India’s green revolution.

Company Profiles: Suzlon Energy vs. Inox Wind

Suzlon Energy

Suzlon Group is a global leader in renewable energy solutions with an installed wind energy capacity of approximately 20.8 GW across 17 countries. Known for its pioneering efforts in the sector, Suzlon is driving the transition to sustainable energy in India and globally. Its diversified portfolio includes wind turbine manufacturing, operations & maintenance (O&M), and energy management.

Inox Wind

Inox Wind Limited (IWL), a part of the $12 billion INOXGFL Group, is India’s leading wind energy solutions provider. Catering to Independent Power Producers (IPPs), utilities, PSUs, and corporate investors, Inox Wind has built a strong foundation with expertise spanning wind turbine manufacturing, project execution, and O&M services.

Share Performance in 2024

Both Suzlon Energy and Inox Wind have captured investor interest, delivering robust returns in 2024. However, Suzlon has outpaced Inox Wind with 71.71%, compared to 57.37% by Inox Wind.

Quarterly Results: Suzlon vs. Inox Wind

Suzlon Energy Q2 FY25 Highlights

• Revenue Growth: Suzlon’s revenue surged 48% YoY, reaching ₹2,103 crore.
• Profitability: Net profit nearly doubled to ₹200 crore, showcasing strong operational efficiency.
• EBITDA: Grew 31.3% YoY to ₹293.7 crore, with margins slightly dipping to 13.97% from 15.74%.
• Order Book: An all-time high of 5.1 GW, with a diverse mix:
  • 54% from Commercial & Industrial (C&I) clients,
  • 23% from central and state bids,
  • 23% from PSUs.

Inox Wind Q2 FY25 Highlights

• Revenue Growth: Revenue jumped 93% YoY to ₹742 crore.
• Profitability: Recorded a profit of ₹90 crore, a significant turnaround from a ₹27 crore loss in the previous year.
• Execution: Completed orders worth 140 MW, almost double the 77 MW executed in the year-ago period.
• Order Book: Orders worth 1.2 GW in Q2 boosted the total order book to 3.3 GW.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.