Inox Wind Limited Receives Upgraded Outlook and Reaffirmation of Ratings by CRISIL
Deepthi | Myequity news | Date : 03-10-2018 9:40:00 IST
CRISIL upgraded the outlook for Inox Wind Limited, India’s leading wind energy solutions’ provider to ‘Positive’ from ‘Stable’ earlier. Additionally, they have reaffirmed ‘CRISIL A-’ rating for Company’s Long Term Bank Facilities and ‘CRISIL A2+’ rating on both the Company’s Short- term Bank Loan Facilities and for Rs.600 Crore Commercial Paper. ABOUT INOX WIND:
CRISIL’s rationale for upgrading Inox Wind’s outlook reflects CRISIL’s expectation of an improvement in business risk profile, to be driven by higher revenue and cash accrual from execution of auction-based orders and continued support from the Parent. The upgrade in outlook and reaffirmation of ratings reflects Inox Wind’s market position in the auction regime, focus on cost efficiencies, healthy auction based order book and robust execution capabilities.
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. Inox Wind Limited (IWL) is a fully integrated player in the wind energy market with three state-of-the-art manufacturing Plants in Gujarat, Himachal Pradesh and Madhya Pradesh. The facility at Madhya Pradesh which is amongst the largest in the world has doubled Inox Wind’s manufacturing capacity to 1,600 MW per annum.