Inox Green Energy Services Limited

NSE: INOXGREEN · Power Generation

52W Range₹133 ₹279

Snapshot

Unlock Inox Green Energy Services Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Inox Green Energy Services Limited provides comprehensive operation and maintenance services, as well as erection, procurement, and commissioning support for wind turbine generators in India. The company also engages in the development of wind farms and operates as a subsidiary of Inox Wind Limited.

Business Model

The company generates revenue through long-term operation and maintenance contracts, project-based erection and commissioning services, and power generation assets. It leverages remote monitoring and predictive maintenance technologies to ensure the operational efficiency of wind farm infrastructure.

Growth Outlook

Growth is driven by the increasing demand for renewable energy infrastructure and the expansion of wind power capacity across India. The company aims to capitalise on its established service network to secure further maintenance contracts for existing and new wind farm installations.

Key Risks

  • Dependency on Parent Company. The company's business is significantly linked to the performance and project pipeline of its parent entity, Inox Wind Limited.
  • Regulatory and Policy Risk. Changes in government policies regarding renewable energy subsidies and grid connectivity can impact project viability and service demand.
  • Operational Concentration. As a pure-play wind energy services provider, the company is highly susceptible to fluctuations in the wind power sector and seasonal generation patterns.
  • Counterparty Risk. Delays in payments from state-owned distribution companies (DISCOMs) can adversely affect the company's cash flow and working capital cycle.

Price

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Key Metrics

REVENUE

₹293 Cr

TTM · consolidated

+24.2%YoY

NET PROFIT

₹103 Cr

TTM · consolidated

+373.9%YoY

EPS

₹2.68

TTM · consolidated

+436.0%YoY

RETURN ON EQUITY

5.4%

TTM · consolidated

+3.9 ppYoY

RETURN ON CAPITAL EMPLOYED

8.1%

TTM · consolidated

+5.3 ppYoY

P/E

71.1x

Q4 FY26 · consolidated

71.1 vs 178.4x5Y avg

EV/EBITDA

38.1x

Q4 FY26 · consolidated

38.1 vs 66.5x5Y avg

EBITDA MARGIN

68.6%

TTM · consolidated

+23.4 ppYoY

NET PROFIT MARGIN

41.3%

Q4 FY26 · consolidated

+31.9 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

-0.04xYoY

Peers · Power Generation

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Inox Green Energy Services LimitedINOXGREEN
5,63971.0838.1424.2%68.6%5.4%8.1%+23.4%
Reliance Power Ltd.RPOWER
8,925-30.368.700.5%35.9%-2.1%4.8%-62.8%
GMR Power And Urban Infra LimitedGMRP&UI
7,91912.109.2115.6%27.6%67.0%20.4%-18.4%
KPI Green Energy LimitedKPIGREEN
7,40116.8512.4155.3%37.2%18.8%17.6%-26.9%
RattanIndia Power LimitedRTNPOWER
4,29088.4011.02-8.9%25.4%1.1%6.0%-42.7%
Insolation EnerINA
2,12213.0%-54.5%

As of Q4 FY26

Financials