INOXGREEN

Inox Green Energy Services Limited

Inox Green Energy Services Limited (INOXGREEN) financial statements and selected valuation metrics through 30 June 2026.

Services›Services›Commercial Services & Supplies›Diversified Commercial Services

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Key metrics

Price as of 2026-10-16

Stock price
₹118.69
Market cap
4,980 Cr
Stock P/E
39.5
P/B
2.79
ROE (FY26)
6.0%
ROCE (FY26)
9.4%
Operating margin (FY26)
7.6%
Debt / equity (FY26)
0.05
OCF / EBITDA (FY26)
289.5%
OCF / EBITDA (3Y)
79.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Inox Green (Inox Green Energy Services) provides operation and maintenance (O&M) services for renewable power assets such as wind turbines, and is part of the INOXGFL Group.

Company snapshot

10thBy market cap

Ranked among 36 companies in Diversified Commercial Services.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 101.4% of revenue

SegmentRevenue shareRevenuePBTAssets
Operation & Maintenance
101.4%
169 Cr11 Cr—
Power generation
11.6%
19 Cr12 Cr—
Trading Income—0 Cr0 Cr—

Shares add up to 113% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Net margin of 36.8% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales47 Cr60 Cr52 Cr51 Cr55 Cr61 Cr68 Cr56 Cr86 Cr82 Cr69 Cr43 Cr
Operating expenses (approx.)34 Cr40 Cr41 Cr34 Cr37 Cr46 Cr68 Cr50 Cr77 Cr59 Cr71 Cr44 Cr
EBITDA13 Cr20 Cr12 Cr17 Cr19 Cr16 Cr0.87 Cr6 Cr9 Cr23 Cr-3 Cr-0.94 Cr
OPM %27.4%33.1%22.0%33.3%33.6%25.5%1.3%10.9%10.0%27.8%-4.1%-2.2%
Other income11 Cr0.58 Cr32 Cr4 Cr9 Cr13 Cr29 Cr42 Cr44 Cr30 Cr51 Cr58 Cr
Interest7 Cr5 Cr9 Cr6 Cr5 Cr4 Cr4 Cr4 Cr1 Cr2 Cr2 Cr2 Cr
Depreciation13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr13 Cr11 Cr10 Cr11 Cr0.49 Cr0.42 Cr
Profit before tax6 Cr-0.34 Cr18 Cr4 Cr9 Cr9 Cr12 Cr33 Cr41 Cr40 Cr47 Cr54 Cr
Tax %5.4%-297.1%-17.6%-2.7%32.4%45.4%47.3%32.2%31.4%38.1%39.7%25.1%
Net profit6 Cr-1 Cr21 Cr4 Cr6 Cr5 Cr6 Cr22 Cr28 Cr25 Cr28 Cr41 Cr
EPS (₹)₹0.19₹-0.04₹0.47₹0.08₹0.17₹0.13₹0.17₹0.58₹0.74₹0.65₹0.71₹1.01

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales165 Cr172 Cr172 Cr254 Cr224 Cr236 Cr281 CrSign in free for the trailing twelve months
Operating expenses (approx.)77 Cr90 Cr90 Cr197 Cr149 Cr184 Cr258 CrSign in free for the trailing twelve months
EBITDA88 Cr82 Cr82 Cr57 Cr75 Cr52 Cr23 CrSign in free for the trailing twelve months
OPM %53.4%47.7%47.7%22.6%33.4%22.1%8.2%Sign in free for the trailing twelve months
Other income7 Cr14 Cr18 Cr40 Cr37 Cr55 Cr145 CrSign in free for the trailing twelve months
Interest53 Cr61 Cr55 Cr71 Cr25 Cr19 Cr9 CrSign in free for the trailing twelve months
Depreciation40 Cr49 Cr50 Cr65 Cr53 Cr53 Cr2 CrSign in free for the trailing twelve months
Profit before tax3 Cr-32 Cr-5 Cr-39 Cr28 Cr35 Cr161 CrSign in free for the trailing twelve months
Tax %39.4%14.3%-5.2%47.6%-0.2%37.1%35.6%Sign in free for the trailing twelve months
Net profit-52 Cr-154 Cr-93 Cr-20 Cr28 Cr22 Cr103 CrSign in free for the trailing twelve months
EPS (₹)———₹-0.83₹0.96₹0.62₹2.74Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital116 Cr129 Cr235 Cr292 Cr294 Cr367 Cr401 Cr
Reserves-20 Cr-86 Cr572 Cr835 Cr1,051 Cr1,600 Cr1,306 Cr
Borrowings1,085 Cr1,411 Cr904 Cr595 Cr174 Cr181 Cr88 Cr
Other liabilities1,158 Cr1,239 Cr410 Cr428 Cr559 Cr332 Cr309 Cr
Total liabilities2,340 Cr2,693 Cr2,121 Cr2,156 Cr2,083 Cr2,487 Cr2,113 Cr
Fixed assets (net)772 Cr765 Cr953 Cr1,085 Cr745 Cr694 Cr5 Cr
CWIP26 Cr251 Cr133 Cr7 Cr7 Cr7 Cr6 Cr
Investments72 Cr33 Cr33 Cr0 Cr0 Cr446 Cr550 Cr
Loans & advances———26 Cr100 Cr364 Cr116 Cr
Inventories359 Cr355 Cr21 Cr31 Cr71 Cr97 Cr102 Cr
Trade receivables250 Cr223 Cr68 Cr93 Cr131 Cr180 Cr166 Cr
Cash & bank3 Cr120 Cr45 Cr4 Cr11 Cr6 Cr87 Cr
Other assets856 Cr946 Cr868 Cr910 Cr1,018 Cr693 Cr1,081 Cr
Total assets2,340 Cr2,693 Cr2,121 Cr2,156 Cr2,083 Cr2,487 Cr2,113 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity362 Cr49 Cr141 Cr-26 Cr-8 Cr60 Cr67 Cr
Cash from investing-306 Cr-105 Cr-153 Cr-5 Cr-63 Cr-539 Cr-293 Cr
Cash from financing-52 Cr174 Cr-63 Cr-10 Cr79 Cr474 Cr307 Cr
Net cash flow3 Cr117 Cr-76 Cr-41 Cr8 Cr-5 Cr81 Cr
Free cash flow (OCF − Capex)66 Cr-53 Cr-9 Cr-96 Cr-8 Cr56 Cr65 Cr

Ratios

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %4.7%1.9%2.9%1.9%3.5%2.5%9.4%
ROE %-54.5%-357.3%-11.6%-1.7%2.1%1.0%6.0%
Debtor days552472144133213278215
Inventory days7947504544115150132
Days payable90710971701579185125
Cash conversion cycle4381251920237343222
OCF / EBITDA %409.7%59.3%171.6%-44.5%-10.5%116.2%289.5%
OCF / EBITDA % (3 years)——218.2%74.0%50.1%14.6%79.6%
Debt / equity11.2432.841.120.530.130.090.05
Current ratio0.500.470.460.802.963.372.87
Net debt / EBITDA12.2515.7010.4610.282.183.360.06