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Inox Green Energy Services Ltd.
(INOXGREEN)
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Rating:59Neutral
Price Target:
₹183.00
▼(-14.37% Downside)
Action:Reiterated
Date:09/06/26
The score is primarily supported by improved FY2026 financial performance and a much stronger balance sheet with very low leverage. This is tempered by mixed-to-weak technicals (below key moving averages with negative MACD) and a rich valuation (P/E ~55.8) without dividend support.
Positive Factors
Recurring O&M Revenue Model
Long-term O&M contracts can provide recurring service income and greater revenue visibility than one-off project work. Managing essential turbine operations, maintenance, troubleshooting, and site activities also embeds the company in customers’ ongoing asset-management needs.
Negative Factors
Volatile Historical Profitability
The move back to profitability is encouraging, but the preceding multi-year losses show that earnings have not yet demonstrated consistent through-cycle durability. Such volatility makes forward profit generation less predictable and increases the importance of sustaining the latest operating improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring O&M Revenue Model
Long-term O&M contracts can provide recurring service income and greater revenue visibility than one-off project work. Managing essential turbine operations, maintenance, troubleshooting, and site activities also embeds the company in customers’ ongoing asset-management needs.
Read all positive factors
Inox Green Energy Services Ltd. (INOXGREEN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹68.78B
Dividend YieldN/A
Average Volume (3M)36.63K
Price to Earnings (P/E)55.7
Beta (1Y)1.72
Revenue Growth16.08%
EPS Growth202.61%
CountryIN
Employees402
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)2.71
Shares Outstanding401,492,030
10 Day Avg. Volume38,315
30 Day Avg. Volume36,626
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)2.99
Price to Sales (P/S)18.15
P/FCF Ratio61.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Inox Green Energy Services Ltd. Business Overview & Revenue Model
Company Description
Inox Green Energy Services Limited (IGESL) specializes in offering comprehensive operation and maintenance (O&M) solutions for wind turbine generators across India, alongside providing essential common infrastructure. Beyond O&M, the company is al...
How the Company Makes Money
INOXGREEN primarily makes money by providing long-term operations and maintenance (O&M) services for wind power projects. Its main revenue stream is service income earned under O&M contracts, where it is paid (typically via recurring fees) to oper...
Inox Green Energy Services Ltd. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
78
Positive
Cash Flow
66
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.81B | 2.36B | 2.24B | 2.50B | 1.72B |
| Gross Profit | 592.40M | 358.70M | 960.00M | 189.52M | 1.09B |
| EBITDA | 2.07B | 1.07B | 1.12B | 933.87M | 998.07M |
| Net Income | 1.02B | 198.10M | 279.04M | -610.46M | -931.96M |
Balance Sheet | |||||
| Total Assets | 21.13B | 24.87B | 20.83B | 21.56B | 21.21B |
| Cash, Cash Equivalents and Short-Term Investments | 5.05B | 2.29B | 108.93M | 471.81M | 1.10B |
| Total Debt | 882.80M | 1.81B | 1.74B | 5.95B | 9.04B |
| Total Liabilities | 3.98B | 5.13B | 7.33B | 10.23B | 13.14B |
| Stockholders Equity | 17.07B | 19.67B | 13.45B | 10.86B | 8.07B |
Cash Flow | |||||
| Free Cash Flow | 825.20M | 415.00M | -84.08M | -959.00M | -47.83M |
| Operating Cash Flow | 843.10M | 457.10M | -78.66M | -255.70M | 1.45B |
| Investing Cash Flow | -3.23B | -5.50B | -631.07M | -52.30M | -1.53B |
| Financing Cash Flow | 3.19B | 5.00B | 788.29M | -101.40M | 807.44M |
Inox Green Energy Services Ltd. Technical Analysis
Negative
213.70
Price Trends
179.00
Negative
183.11
Negative
179.35
Negative
Market Momentum
-1.61
Negative
45.16
Neutral
40.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INOXGREEN, the sentiment is Negative. The current price of 213.7 is above the 20-day moving average (MA) of 172.28, above the 50-day MA of 179.00, and above the 200-day MA of 179.35, indicating a bearish trend. The MACD of -1.61 indicates Negative momentum. The RSI at 45.16 is Neutral, neither overbought nor oversold. The STOCH value of 40.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INOXGREEN.
Inox Green Energy Services Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹85.36B | 17.40 | ― | 0.23% | 85.92% | 76.71% | |
64 Neutral | ₹591.34B | 18.59 | ― | ― | 45.24% | 49.53% | |
59 Neutral | ₹68.78B | 55.67 | ― | ― | 16.08% | 202.61% | |
59 Neutral | ₹68.42B | 15.09 | ― | 0.24% | 40.01% | 27.56% | |
56 Neutral | ₹324.38B | 46.20 | ― | 0.08% | 47.52% | 55.34% | |
56 Neutral | ₹168.66B | 33.49 | ― | ― | 17.10% | -40.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:INOXGREEN
Inox Green Energy Services Ltd.
174.60
-21.33
-10.89%
IN:ACMESOLAR
ACME Solar Holdings Ltd.
451.40
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IN:INOXWIND
Inox Wind Ltd.
75.20
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-47.92%
IN:KPIGREEN
KPI Green Energy Limited
349.85
-113.75
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IN:SUZLON
Suzlon Energy Ltd
42.35
-15.18
-26.39%
IN:WAAREERTL
Waaree Renewable Technologies Ltd
848.55
-209.15
-19.77%
Inox Green Energy Services Ltd. Corporate Events
Inox Green Calls EGM to Seek Approval for Fundraising Plan
Jul 22, 2026
Inox Green Energy Services Limited has called its 26th Extraordinary General Meeting for August 13, 2026, to be held via video conferencing in line with MCA and SEBI guidelines. Shareholders with registered email IDs will receive the meeting notic...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.