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NSE:INOXGREEN

INOX GREEN ENERGY SER LTD

Services › Commercial Services & Supplies
₹108.60
at close · 27 Oct 2026
▲ 0.50 (+0.46%)

Latest filings

  1. Compliance filing: No demat requests in Sep 2026 quarter · Compliance
  2. Vibhav Energy ceases to be wholly-owned subsidiary after ICD-to-equity conversion · Strategic Transactions
  3. Inox Green completes Rs 550 crore payment for Wind World India 4.5 GW O&M deal · Strategic Transactions
All filings ↓
Ask Nexa about INOX GREEN ENERGY SER LTD

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Operates a renewable-energy operations and maintenance (O&M) business, servicing a wind power portfolio of 13+ GWp spread across 17 Indian states, with reported machine availability of 96.5%. In FY26, the O&M segment accounted for 82.3% of segment revenue at Rs 243.37 crore, consultancy income contributed 12.7% at Rs 37.64 crore, and the Power Evacuation business contributed 4.9% at Rs 14.56 crore. The Power Evacuation business has been demerged into Inox Renewable Solutions effective May 4, 2026, moving the entity towards an asset-light, annuity-style O&M model. Customers are wind farm owners, with promoter-group entity Inox Wind's order book of ~3.1 GW providing multi-year visibility for new O&M contracts. Other operating expenses are the largest cost line at 67.8% of revenue, with employee costs at 20.4%. The business also stands to pick up O&M work from the NCLT-approved acquisition of Wind World (India) Limited's IPP and O&M undertakings.

Revenue mix · reported segments
Operation and Maintenance82.3%
Consultancy Income12.7%
Power Evacuation4.9%
Operating scale
Wind O&M portfolio under management
13+ GWpFY26
Geographic footprint
17 Indian statesFY26
Machine availability
96.5%FY26
Related-party order book visibility
~3.1 GW (Inox Wind order book)FY26
Demerger date of Power Evacuation
Effective May 4, 2026FY26
Who pays it
Wind farm owners and independent power producers, principally promoter-group entity Inox Wind and other IPPs.
Biggest cost
Other operating expenses (67.8% of revenue), followed by employee costs at 20.4%.
Kind of business
Service-led, asset-light renewable energy O&M with annuity-style revenues.
Where it sits
A pure-play wind energy O&M services provider in India, part of the INOX Group.
Market Cap
₹4,360 Cr
P / E (TTM)
34.9×
EV / EBITDA
20.8×
Div Yield
—
Growth
—·
Revenue 5y CAGR
PAT — · EBITDA —
Quality
9.5%·
ROCE (FY26)
ROE 6.0% · margin 59.9%
Leverage
0.05·
Debt / Equity · low
Net debt ₹1.39 Cr
Revenue FY23→FY26
1.1×▲
Margin +44.8 pts
₹254 Cr → ₹281 Cr
Cash conversion
0.71×·
Operating cash ÷ profit · 4 yrs
₹94 Cr on ₹133 Cr
Moves on a normal day
1.76%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 127 Diversified Commercial Services peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#59/79
P/B#67/95
ROCE#30/103
ROE#41/113
Debt / Equity#39/91
EBITDA margin#6/92
Revenue growth#74/91
Profit growth#33/110

Scorecard

Measured from the filed financials, judged against its Diversified Commercial Services peers · as of FY26 — not investment advice

Strengths
Returns on capital 9.5%
#30 of 103 in Diversified Commercial Services on the latest reported figures · up from 2.0% in FY23
Concerns
Heavy working capital — 223 days of cash tied up
Customers are taking longer to pay — 133 → 216 days of receivables
FY23 → FY26

Charts

How has the market priced it — with filings on the timeline?

INOXGREEN · price

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Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from INOX GREEN ENERGY SER LTD's filed financials and exchange disclosures

What does INOX GREEN ENERGY SER LTD do?

INOX GREEN ENERGY SER LTD is a Commercial Services & Supplies company listed on NSE and BSE, trading under the symbol INOXGREEN.

Is INOX GREEN ENERGY SER LTD profitable?

Yes. Over the trailing twelve months INOX GREEN ENERGY SER LTD reported a net profit of ₹122 Cr on revenue of ₹280 Cr.

Does INOX GREEN ENERGY SER LTD pay a dividend?

Not in the latest reported year — INOX GREEN ENERGY SER LTD's dividend payout for FY26 was nil.

Is INOX GREEN ENERGY SER LTD debt-free?

No. It reported borrowings of ₹88 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹1.39 Cr after cash. Debt stands at 0.05× equity. That is lower than 57% of its 91 Diversified Commercial Services peers.

Is INOX GREEN ENERGY SER LTD expensive compared with its peers?

On trailing P/E, INOX GREEN ENERGY SER LTD ranks 59 of 79 in Diversified Commercial Services — cheaper than 26% of them, against an industry median of 13.0×. This is a position, not a valuation judgement.

How much does the INOX GREEN ENERGY SER LTD share price move in a day?

On a typical session INOX GREEN ENERGY SER LTD moves 1.76% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track INOX GREEN ENERGY SER LTD's announcements?

Every NSE and BSE filing by INOX GREEN ENERGY SER LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.