Inox Green Energy Services Limited (INOXGREEN)

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Inox Green Energy Services Limited (INOXGREEN) · mywealthgrid

About

Inox Green Energy Services operates in commercial services within Industrials, market cap ₹7,510.86 Cr. Recent quarterly revenues range ₹29.52–81.79 Cr, showing operational scale and substantial quarter-to-quarter volatility.

Face value: ₹10

Market cap

₹6,384 Cr

P/E

52.7×

P/B

3.7×

Dividend yield

ROE

5.6%

ROCE

8.5%

Debt / equity

0.05

OPM

8.2%

EPS (TTM)

₹3.0

Book value

₹42.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin volatility: OPM ranged -12.27% (Mar 2026) to +32.19% (Dec 2025), signaling execution inconsistency or project-dependent profitability.
Valuation concentration: PE 62.01 vs 8.22% OPM leaves minimal buffer if profitability declines.
Weak capital returns: ROE 5.57% means capital deployed underperforms; verify underlying asset base and capital intensity.
Earnings inconsistency: Net profit varied ₹7.28–40.79 Cr in recent quarters despite revenue presence; verify source of swings.

Generated analysis · source review pending

Growth drivers

Unused financial capacity: D/E 0.05 means minimal debt and headroom to invest if opportunities emerge.
Stock momentum: 1-year return 19.49% signals market interest; verify if this reflects fundamental growth or sentiment-driven appreciation.
Revenue scale: Quarterly revenues ₹29.52–81.79 Cr demonstrate operational presence; track whether this is growth trajectory or cyclical variation.
Margin variability: Dec 2025 OPM 32.19% vs historical 8.22% average; verify if improved quarters reflect sustainable improvements or one-time factors.

Generated analysis · source review pending

949 historical price candles were omitted because the exchange source has not been verified.

₹159.0-3%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 19×

Cons

−Low return on equity of 3% (3-yr avg)
−Modest revenue growth of 3.4% a year over the last 3 years

Research score

Structured signal from quality, growth, valuation and momentum.

36/100

Business quality: 44
Growth: 38
Valuation: 25

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
International Gemological Institute LimitedIGILIGIL	₹13,482 Cr	₹13,482 Cr	₹1,363 Cr	₹827 Cr	60.9%	₹610 Cr	44.5%	61.1%	49.1%	36
Wework India Management LimitedWEWORKWEWORK	₹8,931 Cr	₹9,264 Cr	₹2,589 Cr	₹1,676 Cr	64.5%	₹84 Cr	3.1%	12.4%	25%	-18
Nesco LimitedNESCONESCO	₹7,249 Cr	₹7,249 Cr	₹951 Cr	₹482 Cr	52.6%	₹417 Cr	44.3%	17%	14.7%	1
Indiabulls LimitedIBULLSLTDIBULLSLTD	₹6,856 Cr	₹7,314 Cr	₹1,101 Cr	₹417 Cr	33.2%	₹419 Cr	41.5%	—	8.9%	—
Inox Green Energy Services LimitedINOXGREENINOXGREEN	₹6,384 Cr	₹6,472 Cr	₹280 Cr	₹28 Cr	8.2%	₹121 Cr	36.8%	8.5%	5.6%	405
Leap India LimitedLEAPINDLEAPIND	₹6,036 Cr	₹7,054 Cr	₹730 Cr	₹157 Cr	21.5%	₹62 Cr	8.6%	9.5%	9.6%	-520
Smartworks Coworking Spaces LimitedSMARTWORKSSMARTWORKS	₹5,837 Cr	₹6,044 Cr	₹1,963 Cr	₹1,260 Cr	64.3%	₹28 Cr	0.6%	7.5%	2%	-102
Elevate Campuses LimitedELEVATEELEVATE	₹5,811 Cr	₹9,931 Cr	₹569 Cr	₹405 Cr	71.3%	₹174 Cr	30.6%	9.3%	21.1%	—
Nirlon LimitedNIRLONNIRLON	₹5,467 Cr	₹6,614 Cr	₹317 Cr	₹237 Cr	79.1%	₹127 Cr	34.3%	23.2%	59.8%	-56
Quess Corp LimitedQUESSQUESS	₹5,023 Cr	₹5,023 Cr	₹15,835 Cr	₹327 Cr	2%	₹253 Cr	1.5%	19.2%	19.7%	19
Indiqube Spaces LimitedINDIQUBEINDIQUBE	₹4,187 Cr	₹4,477 Cr	₹1,564 Cr	₹952 Cr	60.8%	₹-93 Cr	-7.3%	5.7%	-20.7%	-273
Sanghvi Movers LimitedSANGHVIMOVSANGHVIMOV	₹3,719 Cr	₹4,393 Cr	₹1,177 Cr	₹426 Cr	37.4%	₹199 Cr	17.2%	18%	15%	77

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	254	224	236	281
COGS	53	1	0	10
Gross profit	202	—	—	271
	144	148	184	248
	57	75	52	23
OPM %	22.6%	33.4%	22.1%	8.2%
Depreciation	65	53	53	2
Interest	71	25	19	9
	40	35	57	144
Profit before tax	-39	31	37	157
Tax	-19	4	15	53
Tax %	-47.6%	11.5%	41.4%	34.1%
	-20	28	22	103
PAT margin %	-8%	12.3%	9.3%	36.8%
EPS (₹)	-0.8	1	0.6	2.7
EPS adjusted (₹)	-0.7	1	0.5	2.6
Annual report	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	235	292	294	367	401
Reserves	572	835	1,051	1,600	1,306
Minority interest	—	5	5	7	8
	904	595	174	181	88
	410	428	559	332	309
Total equity & liabilities	2,121	2,156	2,083	2,487	2,113
	963	1,095	755	704	15
CWIP	133	7	7	7	6
Investments	—	0	0	446	550
	1,025	1,053	1,320	1,330	1,542
Total assets	2,121	2,156	2,083	2,487	2,113

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	141	-26	-8	60	67
	-153	-5	-63	-539	-293
	-63	-10	79	474	307
Net cash flow	-76	-41	8	-5	81
Free cash flow	141	-96	-8	56	65
CFO / Operating profit %	—	-44.5%	-10.5%	116.2%	289.5%

Compounded sales growth

7 years: —
5 years: —
3 years: 3%
1 year: 19%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: 373%

Return on equity

7 years: —
5 years: —
3 years: 3%
Last year: 6%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Operation and Maintenance	243.37	-16.25	733.92	397.75	336.17	-4.83
Consultancy Income	37.64	37.64

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	79.3%	—	—	96.4%
EBITDA margin %	22.6%	33.4%	22.1%	8.2%
EBIT margin %	-3.1%	9.8%	-0.5%	7.6%
PAT margin %	-8%	12.3%	9.3%	36.8%
Working capital
Receivable days	133	213	279	216
Inventory days	215	172	193	3,622
Payable days	763	137	110	3,433
NWC days	-415	249	362	405
Leverage
Current ratio	0.8	2.96	3.37	2.87
Debt to EBITDA	10.35	2.32	3.48	3.82
Debt to equity	0.53	0.13	0.09	0.05
Interest coverage	0.5	2.3	2.9	19
Asset turnover	0.12	0.11	0.09	0.13
Return ratios
Return on assets %	-0.9%	1.3%	0.9%	4.9%
Return on capital employed %	2%	3.4%	2.7%	8.5%
Return on equity %	-1.8%	2.1%	1.1%	6.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.72%	55.72%	55.72%	55.72%	56.35%	55.93%	55.93%	55.97%	55.97%	54.82%	56.12%	56.12%
	8.33%	9.2%	8.33%	9.16%	9.12%	8.78%	8.93%	7.18%	7.88%	7.56%	8.74%	7.85%
	2.95%	2.84%	1.75%	1.72%	3.7%	3.72%	3.72%	1.34%	1.08%	1.41%	1.49%	1.86%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	33%	32.24%	34.2%	33.4%	30.83%	31.57%	31.42%	35.51%	35.07%	36.21%	33.65%	34.17%
No. of shareholders	—	—	—	—	—	—	—	—	1,30,308	1,15,739	1,17,889	1,14,521

Promoter holding up 0.4 percentage points since Sep 2023.

34 deals · 23 Nov 2022 – 20 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	40,22,865	₹157.76	₹63.46 Cr
20 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	40,22,865	₹157.85	₹63.50 Cr
12 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	19,09,954	₹184.47	₹35.23 Cr
12 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	19,09,954	₹184.44	₹35.23 Cr
5 Jul 2024	DOVETAIL INDIA FUND	Bulk	NSE	Sell	20,65,272	₹168.19	₹34.74 Cr
26 Jun 2024	DOVETAIL INDIA FUND	Bulk	BSE	Sell	31,00,000	₹166.56	₹51.63 Cr
26 Jun 2024	SOCIETE GENERALE	Bulk	BSE	Buy	29,49,716	₹166.50	₹49.11 Cr
2 May 2024	SIXTEENTH STREET ASIAN GEMS FUND	Bulk	NSE	Buy	40,00,000	₹144.50	₹57.80 Cr
2 May 2024	ICM FINANCE PRIVATE LIMITED	Bulk	NSE	Sell	29,12,880	₹144.53	₹42.10 Cr
2 May 2024	ICM FINANCE PRIVATE LIMITED	Bulk	NSE	Sell	15,00,000	₹144.58	₹21.69 Cr

1–10 of 34

1 / 4

Mr. Mukesh ManglikExecutive Director-Chairperson
Mr. Sanjeev JainNon-Executive - Independent Director
Ms. Bindu SaxenaNon-Executive - Independent Director
Mr. Brij Mohan BansalNon-Executive - Independent Director
Mr. Manoj DixitExecutive Director
Mr. Shailendra TandonNon-Executive - Non Independent Director
Mr. Anup Kumar JainCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 3 fund houses

Held by these funds

0.34%

of the company's equity

All mutual funds

1.61%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

4 schemes · 3 fund houses

		Shares
ESG Exclusionary Strategy Fund	ICICI Prudential Mutual Fund	9.37 L	15.64	1.15%	0.233%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	4.2 L	7.01	0.28%	0.105%	-9,197
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	2,875	0.05	0.01%	0.001%	+13
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	476	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results7 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

29 announcementsExport CSV

2 Sept 2026, 7:06 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication

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Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	79.3%	—	—	96.4%
EBITDA margin %	22.6%	33.4%	22.1%	8.2%
EBIT margin %	-3.1%	9.8%	-0.5%	7.6%
PAT margin %	-8%	12.3%	9.3%	36.8%
Working capital
Receivable days	133	213	279	216
Inventory days	215	172	193	3,622
Payable days	763	137	110	3,433
NWC days	-415	249	362	405
Leverage
Current ratio	0.8	2.96	3.37	2.87
Debt to EBITDA	10.35	2.32	3.48	3.82
Debt to equity	0.53	0.13	0.09	0.05
Interest coverage	0.5	2.3	2.9	19
Asset turnover	0.12	0.11	0.09	0.13
Return ratios
Return on assets %	-0.9%	1.3%	0.9%	4.9%
Return on capital employed %	2%	3.4%	2.7%	8.5%
Return on equity %	-1.8%	2.1%	1.1%	6.1%

Date	Category	Subject	Filing
2 Sept 2026, 7:06 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
27 Aug 2026, 7:12 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
24 Aug 2026, 8:29 pm	Company Update Scheme of Arrangement	Announcement under Regulation 30 (LODR)-Scheme of Arrangement	PDF
14 Aug 2026, 1:40 pm	AGM/EGM EGM	Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF
13 Aug 2026, 6:10 pm	AGM/EGM EGM	Shareholder Meeting / Postal Ballot-Outcome of EGM	PDF
11 Aug 2026, 6:17 pm	Company Update Monitoring Agency Report	Announcement under Regulation 30 (LODR)-Monitoring Agency Report	PDF
7 Aug 2026, 9:11 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
7 Aug 2026, 9:04 pm	Company Update Reg. 32 (1), (3) - Statement of Deviation & Variation	Statement Of Nil Deviation For The Quarter Ended June 30, 2026	PDF

Inox Green Energy Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

Announcements

Not in the F&O segment

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Consultancy Income · revenue

Inox Green Energy Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Consultancy Income · revenue

1

1