Earning Presentation - FY 2025-26
INOXGREEN · price
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Inox Green Energy Services reported strong Q4 FY26 results with total income of Rs 120 crores (up 40% YoY) and EBITDA of Rs 57 crores (up 93% YoY). Full year FY26 performance was even more impressive with revenue of Rs 426 crores (up 69%) and PAT of Rs 103 crores (up 373%). The company operates a pure-play renewable O&M business managing a portfolio of 13+ GWp spread across 17 Indian states, with machine availability at 96.5%. A significant development is the NCLT Ahmedabad approval of the demerger scheme for evacuation infrastructure into Inox Renewable Solutions, creating an asset-light, annuity-focused business model. The company is a natural beneficiary of parent Inox Wind's 3.1 GW order book and Group entity Inox Clean's 3 GW+ annual capacity addition targets.
The demerger approval and strong financial performance with 373% PAT growth signals a strategic transformation into a high-margin, asset-light O&M platform. The company is well-positioned to capture growing demand for renewable O&M services given India's target to double wind capacity to 110 GW by 2032.