Inox Green Energy Services
- Market cap
- ₹ 4,484 Cr.
- P/E
- 36.2x
- P/B
- 2.73x
- 52-week range
- 105.1 – 279
- ROE
- 6%
- ROCE
- 8%
- Dividend yield
- 0%
- Debt / equity
- 0.06
- Sector
- Commercial Services & Supplies
- Industry
- Diversified Commercial Services
- Listed on
- NSE, BSE
About
Inox Green Energy Services Limited is an India-based company, which is engaged in the business of providing operations and maintenance (O&M) services for wind turbine generators (WTGs) and common infrastructure facilities. The Company’s segments include O&M, Power generation, and Trading Income. The O&M segment is engaged in providing O&M services and common infrastructure facilities. The Company's services include WTG Operation Services, Co-ordination with DISCOM's, Management Systems, Predictive Maintenance, and Reactive Maintenance. Its operations services consist of remote monitoring and control through supervisory control and data acquisition (SCADA), coordination with DISCOMs, which covers timely reading of energy meters, in addition to a host of offerings. Its predictive maintenance services detect potential component failures in advance. Its reactive maintenance offers repair services once a component fails and results in long downtimes for the affected WTG.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Diversified Commercial Services: 149 companies →Inox Green Energy Services against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)36.2 against a typical 20: pricier than most peers (1st = cheapest).86th of 139
- Sales growth−23.2% against a typical +14.1% from a year earlier.93rd of 115
- Profit growth+86.4% against a typical +3.4% from a year earlier.23rd of 85
- Share price, 3 months−42.1% against a typical −8.9%.119th of 121
- Size₹ 4,484 Cr. market value against a typical ₹ 68.8 Cr. (1st = largest).8th of 128
Latest announcements
Exchange filings and their impact on the company.
- Vibhav converted Rs 150 cr loans to equity, giving Authum 25% and leaving Inox Green with 75%.
Inox Green Energy Services said its subsidiary Vibhav Energy converted Rs 150 crore of loans into equity on 9 October 2026. Inox Green got 5 crore shares for Rs 50 crore of loans and Authum Investment got 10 crore shares for Rs 100 crore of loans. Inox Green's holding in Vibhav falls from 100% to 75%, with Authum holding 25%, so Vibhav remains a subsidiary and is deleveraged with a new strategic minority investor.
- Inox Green paid Rs 550 cr for Wind World's O&M business, potentially adding 50-65% to revenue.
Inox Green Energy's subsidiary Vibhav Energy signed a Business Transfer Agreement for Wind World (India)'s O&M business and paid Rs 550 crore on 6 Oct 2026, with transfer to complete after conditions precedent. Of this, Inox Green infused Rs 450 crore into Vibhav via Rs 250 crore equity and Rs 200 crore inter-corporate deposit, while Authum Investment put in Rs 100 crore as convertible deposit. The deal adds a large wind O&M portfolio on a going-concern basis and materially scales Inox Green's annuity servicing business.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA- by Acuite- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Withdrawn | — | 22 Sep 2026 |
| Acuite | ACUITE AA- | Stable | 27 Aug 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 22 Sep 2026 | Withdrawn | — | — | CRISIL | ₹ 134.5 Cr. | |
| 11 Sep 2026 | Withdrawn | was Crisil A/Watch Developing | — | CRISIL | ₹ 57 Cr. | |
| 27 Aug 2026 | New rating | ACUITE AA- | — | Acuite | ₹ 150 Cr. | |
| 16 Jun 2026 | Reaffirmed | Crisil A → Crisil A/Watch Developing | — | CRISIL | ₹ 191.5 Cr. | |
| 28 Jan 2026 | Reaffirmed | Crisil A | — | CRISIL | ₹ 191.5 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 7 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 22 Jul 2026 | Fund Raising/Other business matters | To consider Fund Raising and other business matters |
| 29 May 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2026 and other business matters |
| 13 Feb 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended December 31, 2025 and other business matters |
| 14 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 14 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 47 | 60 | 52 | 51 | 55 | 61 | 65 | 56 | 86 | 78 | 69 | 43 |
| Expenses | 34 | 40 | 41 | 34 | 37 | 46 | 68 | 50 | 77 | 59 | 71 | 44 |
| Operating Profit | 13 | 20 | 12 | 17 | 19 | 16 | −3 | 6 | 9 | 19 | −3 | −1 |
| OPM % | 27% | 33% | 22% | 33% | 34% | 26% | −4.6% | 11% | 10% | 24% | −4.1% | −2.2% |
| Other Income | 13 | −2 | 31 | 7 | 9 | 12 | 19 | 42 | 44 | 23 | 50 | 58 |
| Interest | 7 | 5 | 9 | 6 | 5 | 4 | 4 | 4 | 1 | 2 | 2 | 2 |
| Depreciation | 13 | 13 | 13 | 13 | 13 | 13 | 0 | 11 | 10 | 0 | 0 | 0 |
| Profit before tax | 6 | 0 | 20 | 5 | 10 | 10 | 11 | 33 | 41 | 39 | 45 | 54 |
| Tax % | 8% | 944% | −4% | 17% | 37% | 50% | 43% | 32% | 31% | 37% | 38% | 25% |
| Net Profit | 6 | −1 | 21 | 4 | 6 | 5 | 6 | 22 | 28 | 25 | 28 | 41 |
| EPS in Rs | 0.2 | −0.05 | 0.73 | 0.13 | 0.18 | 0.11 | 0.15 | 0.6 | 0.76 | 0.66 | 0.69 | 1.01 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 10%
- 3 Years
- 3%
- TTM
- 16%
- 10 Years
- —
- 5 Years
- 21%
- 3 Years
- 69%
- TTM
- 204%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 36%
- TTM
- —
- 10 Years
- —
- 5 Years
- 0%
- 3 Years
- 3%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Inox Green Energy Services | ₹ 105.70 | ₹ 4,484 Cr. | 36.2x | 2.7x | 6% | — |
| DLF | ₹ 653.55 | ₹ 1,61,774 Cr. | 39x | 3.6x | 10% | 32% |
| Lodha Developers | ₹ 963.00 | ₹ 1,01,441 Cr. | 33.7x | 5.1x | 15.8% | 20.6% |
| Indus Towers | ₹ 380.00 | ₹ 1,00,250 Cr. | 14.9x | 2.7x | 19.8% | 22% |
| Oberoi Realty | ₹ 1,587.20 | ₹ 57,846 Cr. | 27.3x | 3.8x | — | 41.6% |
| Godrej Properties | ₹ 1,497.90 | ₹ 45,121 Cr. | 166x | 3.3x | 10.2% | 35.9% |
Management
- Govind Prakash Rathor
- Chief Financial Officer
- Rashmi Gupta
- Compliance Officer
- Manoj Dixit
- Executive Director
- Mukesh Manglik
- Whole-Time Director
- Anup Kumar Jain
- Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.