West Elm Candle Sconce – Inox Group is not an expert in renewable energy, but the successful IPO of third-generation Devansh Jain proved that there is profit in the sector.
No one can accuse Devansh Jain of false pride. in 2015 In March, the 28-year-old third-generation Inox Group led India’s largest initial public offering (IPO) in two years. His renewable wind energy solutions provider Inox Wind has raised $1,000 million. of Rs and received 18 orders. “Our market capitalization is close to one and a half billion dollars,” said Devanche, the youngest member of the Inox Group chemicals and multiplex family, in his role as director of the company.
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When in 2007 returned to India from the US, he hid his father Vivek (Director, Gujarat Fluorochemicals Limited) for two years before he decided to start working in the renewable energy sector. Neither his father nor his uncle Pawan (Chairman and CEO of Inox Air Products) worked in the industry. But Inox Group was looking to diversify, so given India’s power shortage and the global trend towards cleaner forms of energy, Devansh convinced his family to go for wind power.
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Having borrowed 40 million rupees from Gujarat Fluorochemicals Limited, he founded Inox Wind in 2009 when big players like Suzlon and Bharat Forge were stumbling. Within five years, he made the company profitable, a rarity among local wind energy companies. With a current order book of 1,200 megawatts (MW) and strong investor confidence, Inox Wind and Devansh are prime locations. I am confident that we will be successful in the future. “Inox Wind will be the most profitable ($4 billion) company in the Inox group this financial year,” he told Forbes India.
Devansh believes that Inox Group cannot fail because of its reputation. “Some people would say, ‘You’re born with a silver spoon, but it’s so easy to lose it all by the third generation,'” he said.
One of the biggest challenges he faced was a sudden policy shift: In 2012, just three years after Inox Wind was founded, the then Congress government scrapped key benefits, including generation-based incentives. and political goals. However, in 2010-2013, political paralysis occurred in the country. The infrastructure is dead, wind is obviously part of the infrastructure,” he said.
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The name Inox initially contradicted this as it was a strong brand in the leisure industry with its versatile arm Inox Leisure. “We had to convince them (investors) that we were a technology company with heavy infrastructure in the wind industry,” Devansch said.
There were other challenges like hiring industry experts for the company, getting a large land bank, acquiring the necessary technology, implementing the project, creating a brand in the market, etc.
Not one to be deterred, Devansh decided to ride out the storm. “Failure was never an option for me,” he said.
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Looking back, he credits cost optimization, having a great team, constantly rethinking the supply chain and looking at everything related to profitability. “It’s about passion, focus and hard work,” he said.
Analysts currently rate Inox Wind highly. in 2015 A Motilal Oswal report on the company notes that its “close ties with Independent Power Producers (IPPs) and global technology leaders have enabled it to rebuild alongside a ready-made network of project sites and strategic manufacturing units”. edge of the wind
With the current government focusing on renewable energy, Devansh is excited about the future. “This year we have a few projects in Madhya Pradesh and Gujarat and a few in Andhra Pradesh and Rajasthan. Apart from these, Inox Wind is building a huge wind turbine complex in Madhya Pradesh. “This will be one of the largest power plants in Asia in terms of size and production capacity. We intend to expand this business by 15-20 percent per year,” he said.
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He’s already looking for his next big opportunity. “I think Inox Wind has reached a stage where it’s very strong and the management team is solid. It’s really self-driving, so now I’m trying to figure out the next direction,” he said.
Renewable energy, especially wind energy, falls in high winds. Since coming to power, the NDA has emphasized reducing dependence on conventional energy sources at the center and increasing renewable energy production instead. The focus on non-conventional power generation has given much-needed support to wind energy companies, including Noida-based Inox Wind, which manufactures wind turbine generators and offers end-to-end solutions for wind power projects. in 2015 in June there is a large backlog of 1,220 MW, of which 60 percent is major projects and the rest is equipment supply orders. Its clients include independent power producers, utilities, public sector entities and companies such as Tata Power, Continuum Wind and CESC.
The company’s two units, one at Una in Himachal Pradesh and the other at Ahmedabad with Austrian major AMSC, have a wind turbine generation capacity of 2 MW and a capacity of 800 MW. The commissioning of the third unit in Madhya Pradesh will increase Inox’s annual capacity to 1,600 MW. There is also a lot of focus on increasing land resources in states with abundant wind resources.
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In 2009 founded Inox has made great progress in recent years. Its revenue has grown from Rs 1,005 crore. of Rs in 2012-13. up to 2,558 million rupees in 2014-15 with a CAGR of 60.35 per cent over the last two years and net profit nearly doubling to Rs 12,012 crore. / 13-332 million 2014/15 Earlier this year, Inox announced a Rs 1,020 crore IPO that was oversubscribed 18 times.
Inox now looks to the future with hope. First, the government has set a target of 2022. installed 60 GW of wind power plants, compared to 23.8 GW in 2015. July. “Inox will introduce newer and more technologically advanced products that will generate power at a lower cost thereby increasing return on investment. It has a total land holding of over 4,500 MW,” said Devansh Jain, Director, Inox Wind. In addition to profiting from the production of turbine generators, Inox also has experience in developing end-to-end solutions.
As renewable energy becomes more efficient, central and state governments are taking various measures to support the industry. Some of the measures include reducing wind energy capital rates, production-based incentives, social responsibility for wind energy projects and doubling down on the National Clean Power Act. These initiatives will benefit Inox in the coming years. Beautiful design with a chandelier on the wall. This classic French chandelier is enough for a wall sconce … more. This classic chandelier from the French brand is large enough to make a statement in any room. There are very few signs or symptoms. less
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