Inox Green Energy Services
- P/E
- 38.65
Key Fundamentals
MicrocapCommercial ServicesServicesPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 8.11%
- Debt to Equity
- 0.05
- EPS (TTM)
- ₹3.12
- Book Value
- ₹47.85
- Market Cap
- —
- P/E (TTM)
- 38.65
- P/B
- 2.52
- ROE
- 5.13%
- Dividend Yield
- 0.00%
- EBITDA
- ₹168 Cr
- 52W High
- ₹270.65
- 52W Low
- ₹100.26
- Volume
- 0
Peer Comparison
Services › Utilities › Other Utilities › Diversified Commercial Services
| ₹402.00 | 28.49 | ₹17,550 Cr | 9.92 | 0.63% | 55.80% | 69.20% | ₹1,363 Cr | ₹611 Cr | |
| ₹680.50 | 111.74 | ₹9,206 Cr | 27.76 | 0.00% | 27.90% | 12.60% | ₹2,578 Cr | ₹82 Cr | |
| ₹1,040.40 | 17.60 | ₹7,372 Cr | 2.33 | 0.68% | 14.80% | 18.50% | ₹951 Cr | ₹417 Cr | |
| ₹31.28 | 16.82 | ₹7,118 Cr | 2.05 | 0.00% | 23.10% | 16.20% | ₹1,101 Cr | ₹488 Cr | |
| ₹633.50 | 15.99 | ₹5,724 Cr | 12.18 | 4.72% | 83.80% | 30.80% | ₹674 Cr | ₹357 Cr | |
| ₹116.45 | 22.39 | ₹5,030 Cr | 3.40 | 0.00% | 9.82% | 9.21% | ₹821 Cr | ₹75 Cr | |
| Inox Green Energy Services (this company) | ₹120.59 | 38.65 | ₹4,679 Cr | 2.52 | 0.00% | 5.13% | 8.11% | ₹276 Cr | ₹122 Cr |
| Median 7 companies | ₹402.00 | 22.39 | ₹7,118 Cr | 3.40 | 0.00% | 23.10% | 16.20% | ₹951 Cr | ₹357 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 43
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 35
- Poor
- Cheap vs sector & own history 24% weight
- Growth
- 51
- Average
- Sales & profit trajectory 9% weight
- Financial Health
- 90
- Strong
- Solvency, leverage, coverage 9% weight
- Momentum
- 11
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 58
- Good
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 20.9% CAGR over last 5 years
Weaknesses
7- Stock is trading at 2.77 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -2.42%
- The company has delivered a poor sales growth of 10.3% over past five years.
- Company has a low return on equity of 2.90% over last 3 years.
- Earnings include an other income of Rs.175 Cr.
- Company has high debtors of 216 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bearish | 8 | 5 | 6 |
| Oscillators | Bullish | 1 | 5 | 3 |
| Moving Averages | Strong Bearish | 7 | 0 | 3 |
Oscillators
Bullish
Overall
Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 44.46
- Neutral
- MACD (12,26,9)
- −10.89
- Bullish
- SMA (50)
- 148.62
- Bearish
- SMA (200)
- 168.85
- Bearish
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +10.32% |
|---|---|
| 3Y | +3.42% |
| 1Y | +27.73% |
| TTM | +16.46% |
Net profit
| 5Y | Turned to profit |
|---|---|
| 3Y | Turned to profit |
| 1Y | +368.18% |
| TTM | +212.82% |
Operating cash flow
| 5Y | +6.46% |
|---|---|
| 3Y | Turned positive |
| 1Y | +11.67% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | −28.44 pp |
|---|---|
| 3Y | −14.25 pp |
| 1Y | −8.63 pp |
| TTM | −7.33 pp |
Revenue by year
| Mar 2018 | ₹368 Cr |
|---|---|
| Mar 2019 | ₹164 Cr |
| Mar 2020 | ₹165 Cr |
| Mar 2021 | ₹172 Cr |
| Mar 2022 | ₹172 Cr |
| Mar 2023 | ₹254 Cr |
| Mar 2024 | ₹224 Cr |
| Mar 2025 | ₹220 Cr |
| Mar 2026 | ₹281 Cr |
Net profit by year
| Mar 2018 | −₹57.00 Cr |
|---|---|
| Mar 2019 | −₹53.00 Cr |
| Mar 2020 | −₹52.00 Cr |
| Mar 2021 | −₹154 Cr |
| Mar 2022 | −₹93.00 Cr |
| Mar 2023 | −₹20.00 Cr |
| Mar 2024 | ₹28.00 Cr |
| Mar 2025 | ₹22.00 Cr |
| Mar 2026 | ₹103 Cr |
AI Analysis — Bull vs Bear
Inox Green Energy trades at a PE of 65.6x with only 6% ROE last year and 3% average ROE over 3 years, making the valuation hard to justify despite strong recent profit growth of 512% TTM. The company is nearly debt-free and promoter holding is rising, but poor sales growth of 10.3% over 5 years and high debtor days of 216 signal operational concerns.
- Company is almost debt-free, significantly reducing financial risk and interest burden
- Compounded profit growth of 512% TTM indicates a sharp earnings turnaround
- 5-year compounded profit CAGR of 21% demonstrates sustained earnings improvement
- Promoter holding increased by 1.30% in the last quarter, signaling insider confidence
- Stock CAGR of 50% over 3 years reflects strong market re-rating of the business
- TTM sales growth of 19% shows acceleration from the 5-year average of 10%
- Market cap of Rs.6,825 Cr positions it as a mid-cap play in the growing wind energy O&M segment
- Debt reduction improves balance sheet quality and provides headroom for future capex
- PE ratio of 65.6x is extremely elevated for a utility company with inconsistent returns
- 3-year average ROE of just 3% indicates poor capital efficiency despite profit growth
- High debtor days of 216 signal significant working capital stress and collection risk
- Zero dividend yield despite reported profits suggests earnings quality concerns or reinvestment needs
- Other income of Rs.144 Cr inflates reported profits, masking weak core operating performance
- 5-year sales CAGR of only 10.3% is below sector peers in renewable energy services
- Price-to-book ratio of 3.98x is expensive given the low single-digit ROE profile
- Stock has declined 5% over the past 1 year, underperforming broader market indices
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: No material headwinds or positive catalysts identified in the current news cycle. The upcoming Q4FY26 results call on May 29 could provide fresh direction depending on operational and financial performance.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 57 | 47 | 60 | 52 | 51 | 55 | 61 | 65 | 56 | 86 | 78 | 69 | 43 |
| Expenses | 34 | 34 | 40 | 41 | 34 | 37 | 46 | 68 | 50 | 77 | 59 | 71 | 44 |
| Operating Profit | 23 | 13 | 20 | 12 | 17 | 19 | 16 | −3 | 6 | 9 | 19 | −3 | −1 |
| OPM % | 40% | 27% | 33% | 22% | 33% | 34% | 26% | −4.6% | 11% | 10% | 24% | −4.1% | −2.2% |
| Other Income | 0 | 13 | −2 | 31.69 | 7 | 9 | 12.85 | 19 | 42 | 44 | 23 | 50.81 | 58 |
| Interest | 5 | 7 | 5 | 9 | 6 | 5 | 4 | 4 | 4 | 1 | 2 | 2 | 2 |
| Depreciation | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 0 | 11 | 10 | 0 | 0 | 0 |
| PBT | 5 | 6 | 0 | 20.75 | 5 | 10 | 11.03 | 11 | 33 | 41 | 39 | 45.77 | 54 |
| Tax % | 47% | 8% | 944% | −4% | 17% | 37% | 50% | 43% | 32% | 31% | 37% | 38% | 25% |
| Net Profit | 3 | 6 | −1 | 21 | 4 | 6 | 5 | 6 | 22 | 28 | 25 | 28 | 41 |
| EPS (₹) | 0.08 | 0.2 | −0.05 | 0.73 | 0.13 | 0.18 | 0.11 | 0.15 | 0.6 | 0.76 | 0.66 | 0.69 | 1.01 |
Profit & Loss
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 368 | 164 | 165 | 172 | 172 | 254 | 224 | 220 | 281 | 276 |
| Expenses | 352 | 82 | 77 | 109 | 90 | 197 | 149 | 184 | 258 | 252 |
| Operating Profit | 15 | 82 | 88 | 63 | 82 | 57 | 75 | 37 | 23 | 24 |
| OPM % | 4.2% | 50% | 53% | 37% | 48% | 23% | 33% | 17% | 8% | 9% |
| Other Income | −14 | −68 | −47 | −112 | −70 | 40 | 35 | 18 | 145 | 175 |
| Interest | 65 | 30 | 53 | 61 | 55 | 71 | 25 | 19 | 9 | 7 |
| Depreciation | 17 | 27 | 40 | 49 | 50 | 65 | 53 | 1 | 2 | 11 |
| PBT | −80 | −43 | −51 | −158 | −93 | −39 | 31 | 35 | 158 | 180 |
| Tax % | −29% | 23% | 2% | −3% | 0% | −48% | 12% | 37% | 34% | — |
| Net Profit | −57 | −53 | −52 | −154 | −93 | −20 | 28 | 22 | 103 | 122 |
| EPS (₹) | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | −9.13 | −4.52 | −11.94 | −3.97 | −0.66 | 0.95 | 0.54 | 2.55 | 3.12 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 57 | 116 | 129 | 235 | 292 | 294 | 367 | 401 |
| Reserves | 2 | −8 | −20 | −86 | 572 | 835 | 1,051 | 1,600 | 1,307 |
| Borrowings | 956 | 1,154 | 1,085 | 1,411 | 904 | 595 | 174 | 181 | 88 |
| Other Liabilities | 551 | 698 | 1,158 | 1,239 | 410 | 433 | 564 | 339 | 286 |
| Total Liabilities | 1,509 | 1,902 | 2,340 | 2,693 | 2,121 | 2,155 | 2,083 | 2,487 | 2,082 |
| Fixed Assets | 500 | 512 | 776 | 765 | 953 | 1,095 | 755 | 704 | 15 |
| CWIP | 10 | 59 | 26 | 251 | 133 | 7 | 7 | 7 | 6 |
| Investments | 0 | 71 | 72 | 33 | 33 | 0 | 0 | 446 | 550 |
| Other Assets | 999 | 1,260 | 1,465 | 1,645 | 1,002 | 1,052 | 1,320 | 1,330 | 1,511 |
| Total Assets | 1,509 | 1,902 | 2,340 | 2,693 | 2,121 | 2,155 | 2,083 | 2,487 | 2,082 |
Cash Flow
₹ Cr| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 65 | −41 | 362 | 49 | 141 | −26 | −8 | 60 | 67 |
| Investing | −168 | −170 | −306 | −105 | −153 | −5 | −63 | −637 | −293 |
| Financing | 82 | 195 | −52 | 174 | −63 | −10 | 79 | 572 | 307 |
| Net Cash Flow | −21 | −17 | 3 | 117 | −76 | −42 | 8 | −5 | 81 |
| Free Cash Flow | −102 | −163 | 66 | −53 | −8 | −97 | −8 | 56 | 65 |
| CFO/EBITDA | 513 | −52 | 423 | 54 | 177 | −56 | −5 | 147 | 344 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 242 | 410 | 552 | 473 | 144 | 133 | 213 | 299 | 216 |
| Inventory Days | 1,891 | — | — | — | 540 | 215 | — | — | — |
| Days Payable | 2,200 | — | — | — | 2,029 | 758 | — | — | — |
| Cash Conversion Cycle | −67 | 410 | 552 | 473 | −1,344 | −409 | 213 | 299 | 216 |
| Working Capital Days | −213 | −784 | −2,132 | −2,799 | −1,105 | −217 | 392 | 793 | 226 |
| ROCE % | — | 5% | 4% | 2% | 3% | 1% | 4% | 3% | 8% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Inox Green Energy Services insights
61 extracted metrics across FY18–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · Jun 2026Transcript PPT
- Q4 FY26 concall · May 2026PPT
- Q3 FY26 concall · Feb 2026Transcript PPT
- Q2 FY26 concall · Nov 2025Transcript PPT
- 22 Sep 2026
- 11 Sep 2026
- 27 Aug 2026
- 16 Jun 2026
- 28 Jan 2026
- General announcements 13 Oct 2026
- General announcements 7 Oct 2026
Frequently Asked Questions about Inox Green Energy Services
What does Inox Green Energy Services Ltd do?
Where is Inox Green Energy Services Ltd (INOXGREEN) listed?
Which sector does Inox Green Energy Services Ltd belong to?
What is the PE ratio of Inox Green Energy Services Ltd?
What is the 52-week high and low of Inox Green Energy Services Ltd?
What is the Return on Equity (ROE) of Inox Green Energy Services Ltd?
Company Information
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.
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/INOXGREEN.md for Inox Green Energy Services Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.
Append .md to any Tapetide URL for
the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For
live, structured queries instead of documents, use our Indian stock market MCP server.