Inox Green Energy Services Ltd

Inox Green Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Inox Green Energy Services Ltd

₹ 172 -0.86%
29 May - close price
inoxgreen.com BSE: 543667 NSE: INOXGREEN
About

Incorporated in 2012, Inox Green Energy Services Limited is one of the major wind power operation and maintenance ("O&M") service providers within India. The company is a subsidiary of Inox Wind Limited ("IWL"), and part of the Inox GFL group of companies.[1]

Key Points

Business Area[1]
Inox Green is India's only listed pure-play renewable O&M service provider with comprehensive O&M solutions for WTG and common infrastructure O&M through long-term contracts of 5-20 years. It has a presence across India with an established track record of >10 years and a portfolio of >3.2 GW of O&M assets plus additional value added services contracts.

Website BSE NSE
  • Market Cap ₹ 6,922 Cr.
  • Current Price ₹ 172
  • High / Low ₹ 279 / 133
  • Stock P/E 130
  • Book Value ₹ 43.1
  • Dividend Yield 0.00 %
  • ROCE 4.28 %
  • ROE 2.83 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 21.8% CAGR over last 5 years
  • Promoter holding has increased by 1.30% over last quarter.

Cons

  • Stock is trading at 4.00 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 6.17% over past five years.
  • Company has a low return on equity of 2.42% over last 3 years.
  • Earnings include an other income of Rs.64.4 Cr.
  • Company has high debtors of 230 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
54.36 49.71 43.73 54.55 46.10 44.72 52.08 51.34 52.76 47.85 72.89 71.97 53.45
51.79 28.08 28.17 34.30 31.53 27.72 31.75 38.13 58.25 43.22 64.43 51.41 60.01
Operating Profit 2.57 21.63 15.56 20.25 14.57 17.00 20.33 13.21 -5.49 4.63 8.46 20.56 -6.56
OPM % 4.73% 43.51% 35.58% 37.12% 31.61% 38.01% 39.04% 25.73% -10.41% 9.68% 11.61% 28.57% -12.27%
14.88 2.45 10.11 2.01 6.69 4.39 13.25 20.51 27.48 22.08 18.79 15.33 22.27
Interest 7.39 5.77 5.56 4.73 8.78 5.48 4.55 3.22 4.11 3.45 1.10 2.04 1.47
Depreciation 13.72 13.11 13.26 13.21 13.05 13.15 13.28 13.28 0.01 10.82 9.83 0.17 0.24
Profit before tax -3.66 5.20 6.85 4.32 -0.57 2.76 15.75 17.22 17.87 12.44 16.32 33.68 14.00
Tax % -26.50% 29.23% 17.08% 32.41% 33.33% 28.99% 29.14% 29.38% 25.97% 28.62% 28.37% 26.96% 48.00%
-2.69 3.68 5.68 2.92 -0.76 1.96 11.16 12.16 13.23 8.88 11.69 24.60 7.28
EPS in Rs -0.09 0.13 0.19 0.10 -0.03 0.07 0.31 0.33 0.36 0.24 0.32 0.66 0.18
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
592 367 215 400 177 174 248 202 205 238
593 348 162 294 90 90 198 122 156 219
Operating Profit -1 19 53 105 87 84 50 80 49 19
OPM % -0% 5% 25% 26% 49% 48% 20% 40% 24% 8%
2 -19 -15 -7 -52 -42 24 13 76 64
Interest 37 65 100 147 61 52 55 25 17 8
Depreciation 5 17 27 40 49 49 58 53 53 1
Profit before tax -41 -82 -89 -88 -75 -59 -38 16 54 75
Tax % -30% -29% -36% -35% -4% -4% 75% 27% 29% 30%
-29 -58 -57 -58 -72 -57 -67 12 38 52
EPS in Rs -5,806.00 -11,580.00 -9.97 -4.95 -5.59 -2.43 -2.29 0.39 1.05 1.31
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -9%
5 Years: 6%
3 Years: -1%
TTM: 16%
Compounded Profit Growth
10 Years: 15%
5 Years: 22%
3 Years: 42%
TTM: 54%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 51%
1 Year: -6%
Return on Equity
10 Years: %
5 Years: 0%
3 Years: 2%
Last Year: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.05 0.05 57 116 129 235 292 294 367 401
Reserves -74 -6 -20 -37 -21 672 888 1,107 1,672 1,330
585 956 1,131 1,060 1,224 694 382 119 125 32
398 574 693 1,151 1,190 386 369 382 316 250
Total Liabilities 909 1,524 1,861 2,291 2,521 1,987 1,931 1,901 2,480 2,014
167 497 476 741 762 841 796 743 690 2
CWIP 29 10 53 21 48 12 2 1 7 6
Investments 18 10 81 73 163 164 130 17 197 17
695 1,006 1,251 1,455 1,548 971 1,004 1,140 1,585 1,989
Total Assets 909 1,524 1,861 2,291 2,521 1,987 1,931 1,901 2,480 2,014

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-25 73 -70 409 112 155 -73 54 70
-148 -191 -107 -308 -176 -53 26 37 -650
180 82 176 -99 80 -77 5 -82 575
Net Cash Flow 7 -36 -1 2 16 25 -41 8 -4
Free Cash Flow -154 73 -70 113 32 62 -78 54 65
CFO/OP 1,264% 447% -134% 400% 112% 189% -156% 70% 132%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 147 244 327 236 474 143 127 225 302 230
Inventory Days 3,183 1,600 540 164 1,894
Days Payable 2,664 2,231 1,496 430 1,760
Cash Conversion Cycle 667 -387 327 236 474 -812 -138 225 302 363
Working Capital Days 147 -200 -548 -859 -2,428 -909 -54 529 1,454 1,094
ROCE % 3% 6% 4% 3% 2% 4% 4% 4%

Insights

In beta
Mar 2013 Mar 2015 Mar 2016 Mar 2019 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Renewable O&M Portfolio
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Wind O&M Portfolio
GW

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Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
56.04% 55.72% 55.72% 55.72% 55.72% 56.35% 55.93% 55.93% 55.97% 55.97% 54.82% 56.12%
8.42% 8.33% 9.20% 8.33% 9.16% 9.12% 8.79% 8.93% 7.19% 7.88% 7.57% 8.74%
4.09% 2.94% 2.84% 1.75% 1.72% 3.70% 3.71% 3.72% 1.33% 1.08% 1.41% 1.50%
31.46% 33.01% 32.24% 34.21% 33.40% 30.84% 31.56% 31.42% 35.50% 35.07% 36.21% 33.65%
No. of Shareholders 79,98383,29293,8301,07,4981,21,0441,43,7481,54,4051,53,4921,47,6351,30,3081,15,7391,17,889

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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