Questions across 8 calls

Prateek Giri

Subh Labh Research

Inox Wind Limited

Inox Wind Limited CC-Jun26.pdf · 2026-05-29

I hope I'm audible. Sanjeev, my first question is regarding the execution of order book. So for the past two, three quarters, we have been listening about challenges like righ t of way, grid connectivity, etcetera, for execution rather the erection of the turbines. I just wanted to get your sense on how are things looking now ? Is it addressed to an extent o r are we still facing those challenges?

I get that. Just one follow-up on this. So probably we have reported 3.1 gigawatt of order book in the investor presentation. How much of that order book is from the group company Inox Clean, Sanjeev?

Inox Wind Limited CC-Nov25.pdf · 2025-11-14

Thank you for the opportunity. Yes, greetings to everyone. Sanjeev, my first question, so I have two questions and I'm sure you're not going to like both the questions. If I look at our execution, execution number for the past four quarters, it is certainly growing, but if I look at the industry's installation which India is currently achieving, it is definitely not in line with what installation we are seeing in the country. I am sure, there are answers like 35-65 or 30-70. But if you look at from this perspective, the industry's installation perspective, Sanjeev, what's your opinion on the execution number which we have been delivering for the past 3-4 quarters continuously. I have a second question. We'll come back on that after the answer.

Certainly, I am also very hopeful that it will happen because last two years we have seen some shortfall in our guidance, but I am certainly very hopeful. My second question is on order inflow.

Inox Wind Limited CC-Jun25.pdf · 2025-09-01

Greetings everyone. Thank you for the opportunity. Devansh, my first question is regarding your guidance to reduce the mix of turnkey to equipment supply from the current 65 -35 to roughly around 50-50. I want to get your perspective on will it not lead to entry of newer EPC players in the sector leading to increased competition because eventually they would want to backward integrate into turbine manufacturing which will increase the competitive intensity. If you can throw some light on this, Devansh?

I get that Sanjeev. Actually, I will just tell you where I am coming from because there is one recent entry into the EPC space, wind EPC space by one of the renowned players from the crane segment. So from there I was drawing this conclusion but I totally get your point. Just one follow-up on this.

Inox Wind Limited CC-Sep25.pdf · 2025-09-01

Greetings everyone. Thank you for the opportunity. Devansh, my first question is regarding your guidance to reduce the mix of turnkey to equipment supply from the current 65 -35 to roughly around 50-50. I want to get your perspective on will it not lead to entry of newer EPC players in the sector leading to increased competition because eventually they would want to backward integrate into turbine manufacturing which will increase the competitive intensity. If you can throw some light on this, Devansh?

I get that Sanjeev. Actually, I will just tell you where I am coming from because there is one recent entry into the EPC space, wind EPC space by one of the renowned players from the crane segment. So from there I was drawing this conclusion but I totally get your point. Just one follow-up on this.

Inox Wind Limited CC-Dec24.pdf · 2025-01-31

Congratulations on a good set of numbers. Kudos to the entire team. I have -- most of my questions are answered. I have a few questions left. On the 4-megawatt turbine, the higher-grade turbine, is there any update for us? And in terms of profitability, should we expect better profits on a per megawatt basis for the higher-grade turbine? And in terms of execution also, is it going to create any challenge because of -- I mean, I'm assuming because of higher -- lengthier wind - - sorry, that blades, which is there in a 4-megawatt turbine?

Understood, Devansh. Very helpful. Devansh, I just wanted some qualitative colour on the order pipeline. I would like to take the previous participant's question further where the order inflow this year has largely been dominated by the companies. So just wanted to have some sense on the order pipeline for, say, I know FY '26, we are booked, so FY '27, '28 and so on and so forth. How does that look? I don't know if you quantify the number, but if you can help us understand in terms of the pipeline?

Inox Wind Limited CC-Jun24.pdf · 2024-08-09

Congratulations to the entire team for amazing set of numbers. Whatever has been promised, it seems we are on track to deliver that. My question to Kailash is, Kailash we have been -- since last 3 quarters, we have seen our margins beyond 18%, 19% and 21% this quarter. That two in these 3 quarters, our realization has not crossed INR5 crores per megawatt. But still we have made handsome margin. So I'm just wondering what is holding us from revising our margin guidance. I'm not asking you to revise it, but still, if you can help us with some colour, Kailash?

No, I totally understand. But since last 3 quarters, gentl emen, the margins have been crossing that and the realization has also been low. So I mean how should we look into it then.

Suzlon Energy Limited

Suzlon Energy Limited CC-Jun25.pdf · 2025-08-12

Mr. Chalasani, great numbers. C ongratulations. Mr. Chalasani, I have my first question on BESS. So I just wanted to get your sense in case the BESS storage go es up to, say, 6 or 10 hours or any long duration storage comes, wi ll the role of wind still be rel evant or wind's relevance due to long storage may change if it comes? That's the question number one, Mr. Chalasani, if you can help me understand.

Understood. My second question on competitive intensity. So we saw the resolution of one of the European players in India recently probably 6, 8 months back. So are you seeing incremental competitive intensity in the new orders what we are bidding?

Anupam Rasayan India Limited

Anupam Rasayan India Limited CC-Dec23.pdf · 2024-02-12

Sir, needed a little bit of assistance in understanding the domestic , in understanding the order book numbers. So, in domestic this quarter, we have reported around 245 crores of order book. Vis-à-vis 259 crores last quarter, in September quarter this year. So, I just wanted to understand, should I add the DV SEZ order book also when I am taking domestic order book because I can see there’s a good downfall in domestic order book from 330 crores in June quarter to 245 crores in December quarter. So, am I getting it right or?

No, I am just trying to u nderstand it sequentially. In June, we had 330 crores order book in domestic, then we had 259 and then this quarter we have reported 245.