Inox Green Energy Live Share Price Today, Share Analysis and Chart

About the company - Business Profile

Inox Green Energy Services Limited is a leading pure-play, listed wind Operations and Maintenance (O&M) service provider in India. A subsidiary of Inox Wind Limited and part of the multi-billion dollar INOXGFL Group, the company specializes in providing end-to-end O&M services for Wind Turbine Generators (WTGs) and common infrastructure facilities such as pooling substations and transmission lines. The company operates an asset-light, annuity-based business model, ensuring long-term recurring revenue through multi-year service contracts, typically spanning 5 to 20 years.

Key Points

• Key Facts:
  • Founded: 2012 (formerly known as Inox Wind Infrastructure Services Limited).
  • Headquarters: Vadodara, Gujarat; Corporate Office in Noida, Uttar Pradesh.
  • Parent Company: Inox Wind Limited (part of the INOXGFL Group).
  • Stock Listing: Listed on BSE and NSE.
• Operations and Resources:
  • Fleet Management: Manages a substantial wind O&M portfolio of approximately 10 GW (following recent acquisitions) and solar O&M capacity of 3.3 GWp, totaling a portfolio of 13.3 GWp.
  • Geographic Presence: Operational across high-resource states including Gujarat (1,551 MW), Rajasthan (572 MW), Madhya Pradesh (634 MW), Maharashtra (216 MW), Karnataka (120 MW), Andhra Pradesh (84 MW), and Tamil Nadu (284 MW).
  • Fleet Availability: Maintained a machine availability rate of 96.3% in FY25 and 96.5% in Q3 FY26.
• Market Significance:
  • The company is a critical player in India’s renewable energy transition, supporting the nation’s target of 125 GW wind capacity by 2032.
  • Strategic importance lies in its transition from a captive service provider for Inox Wind to a leading third-party O&M player through inorganic growth.
• Business Model and Competencies:
  • Asset-Light Strategy: Focuses on service provision rather than heavy capital expenditure on power generation assets.
  • Revenue Stability: Revenue is driven by long-term contracts with fixed annual escalations (typically 3-5%).
  • Technical Expertise: Specialized in maintaining various WTG models and handling complex evacuation infrastructure.
• Financial Performance (Consolidated FY25):
  • Total Income: ₹290.18 Crore (up from ₹261.19 Crore in FY24).
  • EBITDA: ₹122.8 Crore with an EBITDA margin of approximately 35.10% (up from 20.11% in FY24).
  • Profit After Tax (PAT): ₹21.86 Crore in FY25.
  • Cash PAT: ₹86.51 Crore in FY25.
  • Revenue Breakdown: Primarily derived from a single segment (O&M services) within India.
• Key Initiatives and Outlook:
  • Inorganic Growth: Recently completed investments to acquire 6.5 GW of operational wind O&M portfolios from two companies, which is expected to consolidate in FY27 and drive a multifold increase in profitability.
  • Substation Demerger: Initiated a scheme to demerge the substation business into Inox Renewable Solutions. This move aims to eliminate depreciation from these assets on the balance sheet, further enhancing PAT margins.
  • Solar Expansion: Expanding into solar O&M with agreements for 1.6 GWp of projects across multiple states.
• Sustainability and ESG:
  • Participated in S&P CSA 2024 with independent assurance by EY.
  • Reported Scope 1 emissions of 1,009 tons $CO_{2}$ and Scope 2 emissions of 93 tons $CO_{2}$ equivalent for FY25.

References

1. Annual Report May 2025
2. Investor Presentation Feb 2026
3. Investor Presentation Nov 2025
4. Annual Report May 2024