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Inox Green Energy Services Limited is a listed, pure‑play renewable O&M services company focused on comprehensive operations and maintenance for wind, solar, hybrid projects and common infrastructure across India, acting as a service provider and asset manager to PSUs, IPPs and private owners with long‑tenor contracts and centralized monitoring capabilities.
The company reported a strong Q3 FY26 with total income of Rs 112 crore (up 51% YoY), EBITDA of Rs 53 crore (up 80% YoY) and PAT of Rs 25 crore (up 375% YoY), while nine‑month results indicate robust growth with cash PAT and EBITDA expanding significantly versus prior year, driven by portfolio scale and other income classified as operating in nature.
Inox Green’s managed portfolio totals ~13.3 GWp (approx. 10 GW wind and 3.3 GWp solar) spread across 17 states with machine availability at ~96.5% in Q3 FY26, reflecting operational robustness; management expects consolidation of recently acquired 6.5 GW operational wind portfolios to materially increase consolidated EBITDA and PAT in FY27.
A structural corporate action is underway: the scheme of demerger of the common substation business into Inox Renewable Solutions Ltd is at final NCLT hearing stages, which will make Inox Green more asset‑light, remove ~Rs 50–55 crore annual depreciation and improve ROE/ROCE, while group synergies with Inox Wind, Inox Solar and Inox Clean underwrite growth visibility.
Growth levers include inorganic acquisitions, exclusive servicing arrangements with Inox Solar and group IPP pipelines, WTG overhaul packages, value‑added services like carbon credit trading, and digital initiatives (SAP HANA upgrade, SCADA analytics and pilot agent‑AIs) aimed at improving uptime, margins and predictable annuity cashflows.
Power
Power Generation
6,797 Cr
High Risk
66.4
25.6
0.2
4.0
279.00
133.10
Sales CAGR
Profit CAGR
ROE
ROCE
Inox Green Energy Services Ltd (INOXGREEN) is currently trading at 168.10 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Inox Green Energy Services Limited is a listed, pure‑play renewable O&M services company focused on comprehensive operations and maintenance for wind, solar, hybrid projects and common infrastructure across India, acting as a service provider and asset manager to PSUs, IPPs and private owners with long‑tenor contracts and centralized monitoring capabilities. The company reported a strong Q3 FY26 with total income of Rs 112 crore (up 51% YoY), EBITDA of Rs 53 crore (up 80% YoY) and PAT of Rs 25 crore (up 375% YoY), while nine‑month results indicate robust growth with cash PAT and EBITDA expanding significantly versus prior year, driven by portfolio scale and other income classified as operating in nature. Inox Green’s managed portfolio totals ~13.3 GWp (approx. 10 GW wind and 3.3 GWp solar) spread across 17 states with machine availability at ~96.5% in Q3 FY26, reflecting operational robustness; management expects consolidation of recently acquired 6.5 GW operational wind portfolios to materially increase consolidated EBITDA and PAT in FY27. A structural corporate action is underway: the scheme of demerger of the common substation business into Inox Renewable Solutions Ltd is at final NCLT hearing stages, which will make Inox Green more asset‑light, remove ~Rs 50–55 crore annual depreciation and improve ROE/ROCE, while group synergies with Inox Wind, Inox Solar and Inox Clean underwrite growth visibility. Growth levers include inorganic acquisitions, exclusive servicing arrangements with Inox Solar and group IPP pipelines, WTG overhaul packages, value‑added services like carbon credit trading, and digital initiatives (SAP HANA upgrade, SCADA analytics and pilot agent‑AIs) aimed at improving uptime, margins and predictable annuity cashflows.
Over the past 52 weeks, Inox Green Energy Services Ltd has traded between a low of ₹133.10 and a high of ₹279.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Inox Green Energy Services Ltd has a market capitalization of approximately 6,797.26. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Inox Green Energy Services Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 66.37 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 6,797.26 Cr, Inox Green Energy Services Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Inox Green Energy Services Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Inox Green Energy Services Ltd is 66.37. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Reports cited an expected enterprise value of INR 4,500-5,000 crore for Vena Energy India.
The IPO opened on 11 November 2022 and closed on 15 November 2022. The allotment date was scheduled for 18 November 2022, with listing expected on 23 November 2022.
The NCLT has approved the demerger of Inox Green Energy Services' (IGESL) power evacuation business into a new, separate company called Inox Renewable Solutions Limited (IRSL), which will also be listed on the stock exchanges.
INOXGFL Group acquired Wind World India's 600 MW Independent Power Producer (IPP) portfolio and its 4.5 GW Operations & Maintenance (O&M) business.
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
109.05 | 8,521 Cr | 14.19 | 4.48 | 0.00 | -10.29 | 10.57 | 3.60 | ||
415.15 | 8,206 Cr | 17.24 | 2.70 | 0.25 | 15.69 | 10.61 | 5.15 | ||
168.80 | 6,797 Cr | 66.37 | 3.98 | 0.00 | 6.00 | 9.23 | 4.90 | ||
9.56 | 5,134 Cr | 97.90 | 1.11 | 0.00 | 1.13 | 5.67 | 0.55 | ||
121.35 | 2,675 Cr | 13.33 | 3.31 | 0.00 | 24.86 | 15.32 | 9.31 | ||
171.80 | 2,670 Cr | 6.64 | 0.70 | 2.32 | 10.48 | 4.34 | 4.27 | ||
353.70 | 2,394 Cr | 13.20 | 4.57 | 0.00 | 34.66 | 28.83 | 6.74 | ||
| Median: 7 Co. | — | 168.80 | 5,134 Cr | 14.19 | 3.31 | 0.00 | 10.48 | 10.57 | 4.90 |
Concall Recording
Inox Green Energy provides audio link to the investor/analyst conference call held 29 May 2026 (17:00 IST) following submission of standalone and consolidated financial results for quarter and year ended 31 Mar 2026: inoxgreen.com/PDF/10044058_123.mp3...
Earnings & Restructuring
INOX Green Energy filed its Q4 FY26 & FY26 earnings presentation: Q4 revenue Rs120cr (+40% YoY), EBITDA Rs57cr, PAT Rs28cr; FY26 revenue Rs426cr, EBITDA Rs210cr, PAT Rs103cr; portfolio ~13 GWp; NCLT approved demerger of evacuation infrastructure.
Earnings Presentation
Inox Green Energy Services released its Q4 FY26 and FY26 audited earnings presentation: Q4 total income Rs120cr (+40% YoY), EBITDA Rs57cr (+93%), PAT Rs28cr (+340%); FY26 revenue Rs426cr, PAT Rs103cr; NCLT approved demerger of evacuation infra.
Audited Financial Results
Board approved and took on record audited standalone and consolidated financial results for the quarter and year ended March 31, 2026; statutory auditors gave unmodified opinion; Emphasis of Matter on investments in 6 SPVs, O&M recognition and demerger.
Audited Financial Results
Board approved and took on record the audited standalone and consolidated financial results for the quarter and year ended 31 Mar 2026; statutory auditors issued unmodified opinion; report highlights investments in 6 SPVs and proposed demerger of Power Evacuation business.
