Green energy stock to buy now for an upside of more than 20%; Recommended by Motilal Oswal

The heavy electrical equipment sector in India is experiencing rapid growth, with the market expected to expand by USD 95,306.9 million between 2025 and 2029, at a strong CAGR of 15.6%. This sector, vital for power generation and transmission, supports over 2.2 million jobs and is driven by rising electricity demand, urbanization, and large infrastructure investments.

With a market capitalization of Rs 22,998.93 crore, the shares of Inox Wind Ltd were trading at Rs 176.40 per share, increasing around 2.14 percent as compared to the previous closing price of Rs 172.95 apiece.

Motilal Oswal Financial Services, one of the well-known brokerages in India, gave a ‘Buy’ rating on this stock with a target price of Rs 210 apiece, indicating a potential upside of 22 percent from the previous closing price of Rs 172 per share.

Motilal Oswal highlights that wind energy forms only around 20% of India’s renewable energy mix, significantly lower than the US (39%), Germany (39%), China (33%), and the UK (42%). This disparity underscores the need for India to accelerate wind energy development to diversify its clean energy portfolio and align with global renewable benchmarks.

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Motilal Oswal projects Inox Wind’s EBITDA to grow at a 38% CAGR from FY25 to FY28, driven by a sharp ramp-up in wind turbine generator (WTG) execution from 705 MW in FY24 to 1.8 GW by FY28. The brokerage values the stock at a 25x P/E multiple based on FY27 EPS estimates, reflecting strong growth prospects.

Inox Wind Ltd (IWL) is a fully integrated wind energy player with 2.5 GW manufacturing capacity. It boasts a robust 3.2 GW order book and is among few OEMs offering turnkey and O&M solutions. With solar diversification, strong promoter backing, and 5.1 GW O&M portfolio, it’s positioned for strong growth.

Inox Wind’s order book stands strong, offering robust revenue visibility for the next 2–3 years. The portfolio includes 1,848 MW in end-to-end turnkey projects and 1,355 MW in equipment supply. Its diversified clientele includes NTPC, CESC, NLC India, Hero Future Energies, and more, reflecting broad industry trust and growth potential.

Inox Wind Limited is engaged in the business of manufacturing 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.  

Written by Abhishek Singh

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