Inox Green now net debt free; Inox Wind should be a Rs 10K-crore plus top line company over next 3 years: Devansh Jain

economictimes.indiatimes.com:

Devansh Jain, Wholetime Director, Inox Wind, says “in Inox Wind as well, over the next 12 to 15 months, our target is to go net debt-free. Hopefully, we will achieve that much sooner than our internal guidance. Every quarter should be better than the previous quarter, at least for the next four to six quarters. So hopefully, given the huge wealth we have created for our investors across Gujarat Fluoro and other companies, we should be doing that at the Wind level and the Green level in the near future as well.”
First up, let us discuss the stake sale that you have announced in one of your wind energy SPVs. What kind of inflows are you expecting on account of this sale? When will that money come in and what does it do to your debt?
Yesterday we announced the sale of a 50 MW operational SPV called Nani Virani. As you may be aware, we have sold four such SPVs in the past. This was the last SPV. We have committed that over the course of this financial year, it is our target to make Inox Green net debt-free. Broadly, the sale of this asset will give us close to Rs 300 crore, including the debt which goes off. So that Rs 300 crore goes off towards the Inox Green balance sheet, which makes it a net debt-free company.

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Consequent to that, Inox Wind is the holding company of Inox Green and naturally that Rs 300 crore goes off the balance sheet of Inox Wind as well. We have announced that in Inox Wind as well, over the next 12 to 15 months, our target is to go net debt-free. Hopefully, we will achieve that much sooner than our