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]
Business Area[1]Inox Green is India's only listed pure-play renewable O&M service providerwith 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.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | NTPC | 348.15 | 14.23 | 337589.45 | 2.40 | 5225.30 | -3.94 | 44785.82 | 0.18 | 9.95 | 186754.31 | 28.64 | 23751.11 | 5066.78 | 1.77 | 4.26 | 1.33 |
| 2. | Adani Green | 1018.20 | 76.53 | 167715.47 | 0.00 | 644.00 | 102.55 | 3008.00 | 0.10 | 8.70 | 12221.00 | 81.16 | 2190.88 | 658.14 | 8.60 | 2.32 | 4.52 |
| 3. | JSW Energy | 507.60 | 43.87 | 88716.74 | 0.39 | 824.27 | -17.41 | 5177.42 | 59.91 | 6.49 | 15949.06 | 49.55 | 2023.68 | 704.68 | 3.05 | 2.46 | 2.37 |
| 4. | NHPC Ltd | 83.26 | 26.37 | 83634.93 | 2.28 | 1219.28 | 13.49 | 3365.26 | 10.27 | 7.42 | 11212.76 | 52.98 | 3171.33 | 1021.44 | 2.04 | 3.43 | 1.09 |
| 5. | NTPC Green Ene. | 93.45 | 129.76 | 78744.04 | 0.00 | 86.38 | 130.26 | 612.29 | 21.52 | 4.89 | 2419.85 | 87.48 | 606.90 | 87.59 | 4.19 | 1.31 | 1.16 |
| 6. | NLC India | 272.90 | 14.47 | 37841.30 | 1.09 | 724.80 | -27.06 | 4178.41 | 14.25 | 10.51 | 16251.48 | 26.03 | 2612.76 | 665.12 | 1.88 | 4.68 | 1.22 |
| 7. | SJVN | 82.83 | 58.43 | 32550.50 | 1.77 | 307.80 | -30.20 | 1032.40 | 0.60 | 4.91 | 3125.24 | 72.70 | 557.11 | 307.91 | 2.21 | 1.92 | 2.03 |
| 8. | Inox Green | 201.35 | 164.15 | 7544.69 | 0.00 | 11.69 | 4.75 | 72.89 | 39.96 | 3.60 | 228.68 | 10.78 | 45.96 | 11.69 | 3.56 | 1.58 | 0.02 |
| – | Median: 25 Co. | 128.44 | 26.93 | 7720.23 | 0.0 | 86.38 | 0.0 | 634.3 | 13.21 | 7.42 | 2265.01 | 31.76 | 187.7 | 80.07 | 2.18 | 2.32 | 0.89 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 72 | 55 | 51 | 50 | 45 | 48 | 54 | 46 | 57 | 61 | 44 | 52 | 73 |
Expenses | 74 | 34 | 38 | 28 | 28 | 43 | 52 | 32 | 58 | 46 | 28 | 32 | 64 |
Operating Profit | -2 | 20 | 13 | 22 | 17 | 5 | 3 | 15 | -2 | 14 | 16 | 20 | 8 |
Other Income | 21 | 2 | 21 | 2 | 4 | 22 | 15 | 7 | 37 | 5 | 10 | 13 | 19 |
Profit before tax | -13 | 4 | 17 | 5 | 3 | 12 | -4 | -1 | 19 | -11 | 7 | 16 | 16 |
Tax % | -34% | 32% | 29% | 29% | 29% | 29% | -26% | 33% | 30% | -35% | 17% | 29% | 28% |
Net Profit | -8 | 3 | 12 | 4 | 2 | 9 | -3 | -1 | 13 | -7 | 6 | 11 | 12 |
EPS in Rs | -0.28 | 0.10 | 0.33 | 0.13 | 0.07 | 0.24 | -0.09 | -0.03 | 0.36 | -0.29 | 0.19 | 0.31 | 0.32 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
Sales | 592 | 367 | 215 | 400 | 177 | 174 | 248 | 202 | 205 | 229 |
Expenses | 593 | 348 | 162 | 294 | 90 | 90 | 198 | 122 | 156 | 204 |
Operating Profit | -1 | 19 | 53 | 105 | 87 | 84 | 50 | 80 | 49 | 25 |
Other Income | 2 | -19 | -15 | -7 | -52 | -42 | 24 | 13 | 76 | 99 |
Interest | 37 | 65 | 100 | 147 | 61 | 52 | 55 | 25 | 17 | 12 |
Depreciation | 5 | 17 | 27 | 40 | 49 | 49 | 58 | 53 | 53 | 47 |
Profit before tax | -41 | -82 | -89 | -88 | -75 | -59 | -38 | 16 | 54 | 65 |
Net Profit | -29 | -58 | -57 | -58 | -72 | -57 | -67 | 12 | 38 | 46 |
EPS in Rs | -5,806.00 | -11,580.00 | -9.97 | -4.95 | -5.59 | -2.43 | -2.29 | 0.39 | 1.05 | 1.25 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.05 | 0.05 | 57 | 116 | 129 | 235 | 292 | 294 | 367 | 367 |
Reserves | -74 | -6 | -20 | -37 | -21 | 672 | 888 | 1,107 | 1,672 | 1,698 |
Borrowings | 585 | 956 | 1,131 | 1,060 | 1,224 | 694 | 382 | 119 | 125 | 37 |
Other Liabilities | 398 | 574 | 693 | 1,151 | 1,190 | 386 | 369 | 382 | 316 | 321 |
Total Liabilities | 909 | 1,524 | 1,861 | 2,291 | 2,521 | 1,987 | 1,931 | 1,901 | 2,480 | 2,422 |
Fixed Assets | 167 | 497 | 476 | 741 | 762 | 841 | 796 | 743 | 690 | 672 |
Gross Block | 174.00 | 527.77 | 533.66 | 838.02 | 908.53 | 1,036.48 | 1,048.49 | 1,048.52 | 1,048.55 | – |
Accumulated Depreciation | 6.74 | 30.65 | 57.80 | 97.41 | 146.49 | 195.33 | 252.86 | 305.50 | 358.05 | – |
CWIP | 29 | 10 | 53 | 21 | 48 | 12 | 2 | 1 | 7 | 7 |
Investments | 18 | 10 | 81 | 73 | 163 | 164 | 130 | 17 | 197 | 218 |
Other Assets | 695 | 1,006 | 1,251 | 1,455 | 1,548 | 971 | 1,004 | 1,140 | 1,585 | 1,526 |
Total Assets | 909 | 1,524 | 1,861 | 2,291 | 2,521 | 1,987 | 1,931 | 1,901 | 2,480 | 2,422 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -25 | 73 | -70 | 409 | 112 | 155 | -73 | 54 | 70 |
Cash from Investing Activity | -148 | -191 | -107 | -308 | -176 | -53 | 26 | 37 | -650 |
Cash from Financing Activity | 180 | 82 | 176 | -99 | 80 | -77 | 5 | -82 | 575 |
Net Cash Flow | 7 | -36 | -1 | 2 | 16 | 25 | -41 | 8 | -4 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 147 | 244 | 327 | 236 | 474 | 143 | 127 | 225 | 302 |
Inventory Days | 3,183 | 1,600 | – | – | – | 540 | 164 | – | – |
Days Payable | 2,664 | 2,231 | – | – | – | 1,496 | 430 | – | – |
Cash Conversion Cycle | 667 | -387 | 327 | 236 | 474 | -812 | -138 | 225 | 302 |
Working Capital Days | 147 | -200 | -548 | -859 | -2,428 | -909 | -54 | 529 | 1,454 |
ROCE % | – | – | 3% | 6% | 4% | 3% | 2% | 4% | 4% |
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