Inox Green Energy Services Limited has informed the Exchange regarding Outcome of Board Meeting held on August 14, 2025 appointment of Secretarial Auditors
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Inox Green Energy Services' board met on August 14, 2025 and approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025). On a standalone basis, total income fell to Rs 6,993 Lakh from Rs 9,397 Lakh in Q1 FY25, and profit after tax dropped sharply to Rs 159 Lakh from Rs 1,877 Lakh a year ago. On a consolidated basis, total income rose to Rs 9,778 Lakh with profit after tax of Rs 904 Lakh. The board also appointed M/s VAPN & Associates, Practicing Company Secretaries, as Secretarial Auditors for a first term of five years (FY 2025-26 to FY 2029-30), subject to shareholder approval. The auditor's review highlighted ongoing concerns including Rs 5,578 Lakh of invoked bank guarantees linked to six SPV wind projects under appeal, Rs 11,878 Lakh of unbilled O&M revenue, and pending litigation matters.
Standalone earnings have weakened sharply year-on-year, though consolidated performance is supported by other income. Investors should watch the pending SPV recovery and NCLT approval of the Power Evacuation demerger, both of which could materially affect future results. The secretarial auditor appointment is a routine compliance matter.