
About Inox Green Energy Services Limited
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Inox Green Energy Services Limited is a public limited company based in Vadodara, Gujarat, India, a subsidiary of Inox Wind Limited. It operates in the bop and btg services segment of the energy and power sector. It was incorporated on 11 May 2012 and has been in existence for over 14 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L45207GJ2012PLC070279. Its GSTIN is 24AACCI9265N1Z2 (Gujarat). The company holds 12 GST registrations, all of them active. Its shares are listed on BSE: 543667 and NSE: INOXGREEN.
The company has an authorised share capital of ₹700 Cr and a paid-up capital of ₹419.6 Cr. It was formerly known as Inox Wind Infrastructure Services Limited. It is led by directors including Manoj Dixit (Whole-Time Director) and Mukesh Manglik (Whole-Time Director).
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Survey No. 1837 & 1834 At Moje Jetalpur Abs Towers Second Floor Old Padra Road, Vadodara, Gujarat, India – 390007.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹281.01 Cr, a growth of 19.3% compared to the previous year. For the same year it recorded a net profit of ₹103.3 Cr (net margin 36.8%) and EBITDA of ₹22.19 Cr (EBITDA margin 7.9%). The net worth stands at ₹1,708 Cr (down 13.2% YoY). Total assets are valued at ₹1,808.37 Cr (down 23.7% YoY).
The company has about 335 employees on its provident fund (EPFO) records. Its group structure includes 16 subsidiaries.
The company is associated with 1 brand: Inox Green Energy. As per MCA filings, the company has open charges of ₹235 Cr and satisfied charges of ₹2,591.54 Cr on record. Court records list 164 cases involving the company, including 50 filed by the company and 114 filed against it; 35 cases are pending. The company has 15 deals on record (13 market trades, 1 ipo, 1 funding round), with disclosed funding of ₹1,050 Cr; the latest was in March 2026. The company has 15 MSME Form 1 returns on record between 2018 and 2024, listing 190 overdue payments to 8 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website inoxgreen.com.
Company details
CIN history
Inox Green Energy Services has one previous CIN (Corporate Identification Number): U45207GJ2012PLC070279. The current CIN is L45207GJ2012PLC070279, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L45207GJ2012PLC070279 | Current |
| U45207GJ2012PLC070279 | Previous |
Contact details
Inox Green Energy Services Limited's registered office is in Vadodara, Gujarat. Its website is inoxgreen.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSurvey No. 1837 & 1834 At Moje Jetalpur Abs Towers Second Floor Old Padra Road, Vadodara, Gujarat, India – 390007
- IndustryEnergy and Power, BoP & BTG Services, Power EPC
To see the full contact details of Inox Green Energy Services Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Inox Green Energy Services operates one associated brand: Inox Green Energy. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Operation and maintenance services for wind farms are provided. | inoxgreen.com |
Business activity
The main business activity of Inox Green Energy Services is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of Inox Green Energy Services Limited, buy the company report.
Financials of Inox Green Energy Services Limited
FY 2025-26 filings availableInox Green Energy Services Limited reported revenue of ₹281.01 Cr (up 19.3% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 281 | 236 | 224 | 254 | 172 | 172 | 165 |
| Revenue growth | +19.3% | +5.0% | -11.8% | +47.7% | -0.1% | +4.2% | - |
| EBITDA | 22.19 | 51.95 | 72.73 | 57.49 | (6.05) | (62.55) | 34.32 |
| EBITDA margin | +7.9% | +22.1% | +32.4% | +22.6% | -3.5% | -36.3% | +20.8% |
| Profit before tax | 157 | 37.30 | 31.27 | (38.86) | (92.94) | (158) | (51.19) |
| Net profit | 103 | 16.60 | 30.05 | (37.85) | (94.00) | (160) | (56.00) |
| Net profit margin | +36.8% | +7.1% | +13.4% | -14.9% | -54.6% | -93.2% | -33.9% |
| EPS (₹) | 2.73 | 0.54 | 0.95 | (0.66) | (3.97) | (11.94) | (4.52) |
| Balance sheet | |||||||
| Total assets | 1,808 | 2,370 | 1,752 | 1,971 | 1,952 | 1,519 | 1,241 |
| Net worth | 1,708 | 1,967 | 1,345 | 1,127 | 807 | 42.96 | 96.61 |
| Total debt | 88.28 | 181 | 174 | 595 | 904 | 1,411 | 1,085 |
| Cash & bank | 505 | 48.17 | 15.04 | 47.18 | 110 | 130 | 17.89 |
| Net working capital | 767 | 707 | 424 | 226 | 174 | (129) | (165) |
| Cash flow | |||||||
| Cash from operations | 66.87 | 60.37 | (7.87) | (26.31) | 141 | 48.73 | 362 |
| Cash from investing | (293) | (637) | (63.11) | (5.19) | (153) | (105) | (306) |
| Cash from financing | 307 | 572 | 78.83 | (10.18) | (63.13) | 174 | (52.47) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 43.29 | 68.67 | 77.95 | 85.87 | 56.20 | 64.54 | 61.13 | 55.18 |
| Revenue growth (YoY) | -23.0% | +6.4% | +27.5% | +55.6% | +10.5% | - | - | - |
| Other income | 57.89 | 50.81 | 23.84 | 43.61 | 41.58 | 20.76 | 12.85 | 9.23 |
| EBITDA | (0.94) | (3.13) | 17.69 | 8.58 | 6.12 | (4.93) | 14.97 | 18.53 |
| EBITDA margin | -2.2% | -4.6% | +22.7% | +10.0% | +10.9% | -7.6% | +24.5% | +33.6% |
| Depreciation | 0.42 | 0.49 | 0.43 | 10.08 | 11.08 | 0.26 | 13.47 | 13.40 |
| Interest | 2.06 | 1.75 | 2.18 | 1.22 | 3.63 | 4.24 | 3.95 | 4.71 |
| Profit before tax | 54.47 | 45.44 | 38.92 | 40.89 | 32.99 | 11.33 | 10.40 | 9.65 |
| Tax | 13.68 | 17.09 | 14.26 | 12.82 | 10.60 | 4.89 | 5.21 | 3.59 |
| Net profit | 40.79 | 28.35 | 24.66 | 28.07 | 22.39 | 6.44 | 5.19 | 6.06 |
| EPS (₹) | 1.01 | 0.71 | 0.65 | 0.74 | 0.58 | 0.17 | 0.13 | 0.17 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 238 | 205 | 202 | 248 | 174 | 177 | 400 |
| Revenue growth | +16.5% | +1.4% | -18.5% | +42.5% | -1.6% | -55.8% | - |
| EBITDA | 18.52 | 48.88 | 54.00 | 31.40 | 31.55 | 20.11 | 86.20 |
| EBITDA margin | +7.8% | +23.9% | +26.7% | +12.7% | +18.1% | +11.4% | +21.6% |
| Profit before tax | 75.12 | 54.49 | 15.79 | (38.15) | (59.27) | (74.64) | (88.40) |
| Net profit | 53.38 | 34.63 | 30.40 | (62.28) | (57.88) | (78.88) | (41.76) |
| Net profit margin | +22.4% | +16.9% | +15.1% | -25.1% | -33.3% | -44.6% | -10.5% |
| EPS (₹) | 1.40 | 1.05 | 0.39 | (2.29) | (2.43) | (5.59) | (4.95) |
| Balance sheet | |||||||
| Total assets | 1,768 | 2,378 | 1,748 | 1,806 | 1,842 | 1,400 | 1,200 |
| Net worth | 1,732 | 2,039 | 1,400 | 1,180 | 907 | 107 | 79.42 |
| Total debt | 32.41 | 125 | 119 | 382 | 694 | 1,224 | 1,060 |
| Cash & bank | 501 | 45.80 | 14.54 | 45.14 | 68.92 | 27.19 | 14.15 |
| Net working capital | 1,248 | 986 | 421 | 283 | 166 | (175) | (169) |
| Cash flow | |||||||
| Cash from operations | 86.75 | 70.36 | 53.74 | (72.90) | 155 | 112 | 409 |
| Cash from investing | (288) | (650) | 36.53 | 26.35 | (53.04) | (176) | (308) |
| Cash from financing | 282 | 575 | (82.41) | 5.33 | (77.41) | 80.44 | (99.19) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29.52 | 53.45 | 71.97 | 72.89 | 47.85 | 52.76 | 51.34 | 52.08 |
| Revenue growth (YoY) | -38.3% | +1.3% | +40.2% | +40.0% | +7.0% | - | - | - |
| Other income | 26.10 | 22.60 | 16.53 | 18.79 | 22.08 | 29.44 | 20.51 | 13.25 |
| Total expenses | 31.79 | 60.34 | 52.61 | 64.43 | 43.22 | 60.21 | 38.13 | 31.75 |
| EBITDA | (2.27) | (6.89) | 19.36 | 8.46 | 4.63 | (7.45) | 13.21 | 20.33 |
| EBITDA margin | -7.7% | -12.9% | +26.9% | +11.6% | +9.7% | -14.1% | +25.7% | +39.0% |
| Depreciation | 0.16 | 0.24 | 0.17 | 9.83 | 10.82 | 0.01 | 13.28 | 13.28 |
| Interest | 1.91 | 1.47 | 2.04 | 1.10 | 3.45 | 4.11 | 3.22 | 4.55 |
| Profit before tax | 21.76 | 14.00 | 33.68 | 16.32 | 12.44 | 17.87 | 17.22 | 15.75 |
| Tax | 6.29 | 6.72 | 9.08 | 4.63 | 3.56 | 4.64 | 5.06 | 4.59 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 43.29 | 68.67 | 77.95 | 85.87 | 56.20 | 64.54 | 61.13 | 55.18 |
| Revenue growth (YoY) | -23.0% | +6.4% | +27.5% | +55.6% | +10.5% | - | - | - |
| Other income | 57.89 | 50.81 | 23.84 | 43.61 | 41.58 | 20.76 | 12.85 | 9.23 |
| EBITDA | (0.94) | (3.13) | 17.69 | 8.58 | 6.12 | (4.93) | 14.97 | 18.53 |
| EBITDA margin | -2.2% | -4.6% | +22.7% | +10.0% | +10.9% | -7.6% | +24.5% | +33.6% |
| Depreciation | 0.42 | 0.49 | 0.43 | 10.08 | 11.08 | 0.26 | 13.47 | 13.40 |
| Interest | 2.06 | 1.75 | 2.18 | 1.22 | 3.63 | 4.24 | 3.95 | 4.71 |
| Profit before tax | 54.47 | 45.44 | 38.92 | 40.89 | 32.99 | 11.33 | 10.40 | 9.65 |
| Tax | 13.68 | 17.09 | 14.26 | 12.82 | 10.60 | 4.89 | 5.21 | 3.59 |
| Net profit | 40.79 | 28.35 | 24.66 | 28.07 | 22.39 | 6.44 | 5.19 | 6.06 |
| EPS (₹) | 1.01 | 0.71 | 0.65 | 0.74 | 0.58 | 0.17 | 0.13 | 0.17 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 281 | 236 | 224 | 254 | 172 | 172 | 165 |
| Revenue growth | +19.3% | +5.0% | -11.8% | +47.7% | -0.1% | +4.2% | - |
| Other income | 145 | 57.20 | 36.93 | 39.94 | 18.07 | 14.04 | 7.09 |
| Total expenses | 259 | 184 | 152 | 197 | 178 | 235 | 131 |
| Employee cost | 0.00 | 47.71 | 33.96 | 26.24 | 21.66 | 18.80 | 18.23 |
| EBITDA | 22.19 | 51.95 | 72.73 | 57.49 | (6.05) | (62.55) | 34.32 |
| EBITDA margin | +7.9% | +22.1% | +32.4% | +22.6% | -3.5% | -36.3% | +20.8% |
| Depreciation | 1.71 | 53.21 | 52.95 | 65.31 | 50.16 | 49.08 | 39.61 |
| Interest | 8.78 | 18.64 | 25.44 | 70.98 | 54.80 | 60.55 | 52.99 |
| Profit before tax | 157 | 37.30 | 31.27 | (38.86) | (92.94) | (158) | (51.19) |
| Tax | 53.45 | 15.44 | 3.60 | (18.50) | 0.24 | (4.61) | 1.09 |
| Net profit | 103 | 16.60 | 30.05 | (37.85) | (94.00) | (160) | (56.00) |
| Net profit margin | +36.8% | +7.1% | +13.4% | -14.9% | -54.6% | -93.2% | -33.9% |
| EPS (₹) | 2.73 | 0.54 | 0.95 | (0.66) | (3.97) | (11.94) | (4.52) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 401 | 367 | 294 | 292 | 235 | 129 | 116 |
| Reserves & surplus | 1,307 | 1,448 | 851 | 835 | 572 | (119) | (52.50) |
| Shareholders' funds (net worth) | 1,708 | 1,967 | 1,345 | 1,127 | 807 | 42.96 | 96.61 |
| Minority interest | 8.00 | 6.94 | 4.89 | 5.09 | 0.00 | 0.00 | (0.07) |
| Secured loans | 33.73 | 30.29 | 48.13 | 252 | 579 | 634 | 403 |
| Unsecured loans | 54.55 | 151 | 126 | 343 | 326 | 777 | 682 |
| Total debt | 88.28 | 181 | 174 | 595 | 904 | 1,411 | 1,085 |
| Total liabilities | 1,808 | 2,370 | 1,752 | 1,971 | 1,952 | 1,519 | 1,241 |
| Assets | |||||||
| Gross block | 27.36 | 1,064 | 1,062 | 1,358 | 1,150 | 911 | 875 |
| Net block | 15.16 | 704 | 755 | 1,095 | 953 | 765 | 776 |
| Capital work in progress | 5.86 | 7.05 | 7.05 | 7.38 | 133 | 251 | 26.27 |
| Investments | 550 | 446 | 0.00 | 0.00 | 32.51 | 32.51 | 72.41 |
| Inventories | 102 | 97.17 | 70.59 | 30.99 | 21.38 | 355 | 359 |
| Sundry debtors | 166 | 180 | 131 | 92.71 | 68.05 | 223 | 250 |
| Cash & bank balances | 505 | 48.17 | 15.04 | 47.18 | 110 | 130 | 17.89 |
| Loans & advances | 269 | 499 | 538 | 239 | 143 | 336 | 306 |
| Total current assets | 1,041 | 825 | 754 | 410 | 343 | 1,044 | 934 |
| Total current liabilities | 274 | 117 | 330 | 184 | 169 | 1,174 | 1,099 |
| Net working capital | 767 | 707 | 424 | 226 | 174 | (129) | (165) |
| Total assets | 1,808 | 2,370 | 1,752 | 1,971 | 1,952 | 1,519 | 1,241 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 6.31 | 10.89 | 3.04 | 44.72 | 120 | 3.32 | 0.64 |
| Net cash from operating activities | 66.87 | 60.37 | (7.87) | (26.31) | 141 | 48.73 | 362 |
| Net cash from investing activities | (293) | (637) | (63.11) | (5.19) | (153) | (105) | (306) |
| Net cash from financing activities | 307 | 572 | 78.83 | (10.18) | (63.13) | 174 | (52.47) |
| Net change in cash | 80.58 | (4.58) | 7.86 | (41.68) | (75.52) | 117 | 2.68 |
| Closing cash | 505 | 48.17 | 15.04 | 47.18 | 110 | 130 | 17.89 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +19.3% | +5.0% | -11.8% | +47.7% | -0.1% | +4.2% | - |
| EBITDA growth | -57.3% | -28.6% | +26.5% | +1050.3% | +90.3% | -282.3% | - |
| PBT growth | +320.6% | +19.3% | +9998.0% | +58.2% | +41.2% | -208.9% | -19.0% |
| Net income growth | +522.3% | -44.8% | +179.4% | +59.7% | +41.4% | -186.6% | - |
| Revenue CAGR (3Y) | +3.4% | +11.0% | +9.2% | +15.4% | +1.6% | -22.3% | - |
| EBITDA CAGR (3Y) | -27.2% | - | - | +18.8% | - | +434.3% | - |
| Profitability & leverage | |||||||
| Net income margin | +36.8% | +9.3% | +12.3% | -8.0% | -54.1% | -89.1% | -31.6% |
| Return on capital employed | - | +2.0% | +2.8% | 0.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | - | +0.9% | +1.9% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | - | 0.11 | 0.31 | 0.78 | 2.73 | 17.88 | 15.34 |
| Long-term debt / equity | - | 0.03 | 0.16 | 0.39 | 1.19 | 8.16 | 7.62 |
| Interest cover | 42.87 | -1,479.37 | 128.61 | -907.67 | -97.49 | -54.24 | -1,001.70 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 0.22 | 0.19 | 0.20 | 0.17 | 0.19 | 0.23 |
| Inventory turnover | - | 2.81 | 4.42 | 9.71 | 0.91 | 0.48 | 0.43 |
| Debtors turnover | - | 1.51 | 2.01 | 3.16 | 1.18 | 0.73 | 0.76 |
| EPS (₹) | 2.73 | 0.54 | 0.95 | (0.66) | (3.97) | (11.94) | (4.52) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 49.44 | 39.00 | 38.62 | 34.32 | 0.78 | 5.48 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29.52 | 53.45 | 71.97 | 72.89 | 47.85 | 52.76 | 51.34 | 52.08 |
| Revenue growth (YoY) | -38.3% | +1.3% | +40.2% | +40.0% | +7.0% | - | - | - |
| Other income | 26.10 | 22.60 | 16.53 | 18.79 | 22.08 | 29.44 | 20.51 | 13.25 |
| Total expenses | 31.79 | 60.34 | 52.61 | 64.43 | 43.22 | 60.21 | 38.13 | 31.75 |
| EBITDA | (2.27) | (6.89) | 19.36 | 8.46 | 4.63 | (7.45) | 13.21 | 20.33 |
| EBITDA margin | -7.7% | -12.9% | +26.9% | +11.6% | +9.7% | -14.1% | +25.7% | +39.0% |
| Depreciation | 0.16 | 0.24 | 0.17 | 9.83 | 10.82 | 0.01 | 13.28 | 13.28 |
| Interest | 1.91 | 1.47 | 2.04 | 1.10 | 3.45 | 4.11 | 3.22 | 4.55 |
| Profit before tax | 21.76 | 14.00 | 33.68 | 16.32 | 12.44 | 17.87 | 17.22 | 15.75 |
| Tax | 6.29 | 6.72 | 9.08 | 4.63 | 3.56 | 4.64 | 5.06 | 4.59 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 238 | 205 | 202 | 248 | 174 | 177 | 400 |
| Revenue growth | +16.5% | +1.4% | -18.5% | +42.5% | -1.6% | -55.8% | - |
| Other income | 65.35 | 75.52 | 39.27 | 42.93 | 10.17 | 14.86 | 12.50 |
| Total expenses | 220 | 156 | 148 | 216 | 142 | 157 | 313 |
| Employee cost | 0.00 | 37.94 | 24.64 | 25.00 | 21.66 | 18.79 | 24.92 |
| EBITDA | 18.52 | 48.88 | 54.00 | 31.40 | 31.55 | 20.11 | 86.20 |
| EBITDA margin | +7.8% | +23.9% | +26.7% | +12.7% | +18.1% | +11.4% | +21.6% |
| Depreciation | 0.69 | 52.55 | 52.64 | 57.53 | 48.84 | 49.08 | 39.61 |
| Interest | 8.06 | 17.36 | 24.84 | 54.95 | 52.15 | 60.53 | 147 |
| Profit before tax | 75.12 | 54.49 | 15.79 | (38.15) | (59.27) | (74.64) | (88.40) |
| Tax | 22.65 | 15.99 | 4.28 | 28.71 | (2.21) | (2.72) | (30.89) |
| Net profit | 53.38 | 34.63 | 30.40 | (62.28) | (57.88) | (78.88) | (41.76) |
| Net profit margin | +22.4% | +16.9% | +15.1% | -25.1% | -33.3% | -44.6% | -10.5% |
| EPS (₹) | 1.40 | 1.05 | 0.39 | (2.29) | (2.43) | (5.59) | (4.95) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 401 | 367 | 294 | 292 | 235 | 129 | 116 |
| Reserves & surplus | 1,331 | 1,520 | 907 | 888 | 672 | (54.14) | (69.69) |
| Shareholders' funds (net worth) | 1,732 | 2,039 | 1,400 | 1,180 | 907 | 107 | 79.42 |
| Secured loans | 29.25 | 26.02 | 44.24 | 84.04 | 414 | 533 | 310 |
| Unsecured loans | 3.16 | 98.67 | 74.45 | 298 | 280 | 691 | 750 |
| Total debt | 32.41 | 125 | 119 | 382 | 694 | 1,224 | 1,060 |
| Total liabilities | 1,768 | 2,378 | 1,748 | 1,806 | 1,842 | 1,400 | 1,200 |
| Assets | |||||||
| Gross block | 7.84 | 1,044 | 1,049 | 1,048 | 1,036 | 909 | 838 |
| Net block | 2.20 | 690 | 743 | 796 | 841 | 762 | 741 |
| Capital work in progress | 5.64 | 6.83 | 1.20 | 1.52 | 11.75 | 47.85 | 21.26 |
| Investments | 16.67 | 197 | 16.70 | 130 | 164 | 163 | 73.38 |
| Inventories | 90.70 | 87.12 | 63.00 | 23.60 | 21.38 | 327 | 327 |
| Sundry debtors | 150 | 169 | 124 | 86.47 | 68.20 | 230 | 259 |
| Cash & bank balances | 501 | 45.80 | 14.54 | 45.14 | 68.92 | 27.19 | 14.15 |
| Loans & advances | 753 | 786 | 372 | 253 | 152 | 363 | 322 |
| Total current assets | 1,494 | 1,088 | 574 | 408 | 311 | 947 | 922 |
| Total current liabilities | 246 | 101 | 153 | 125 | 145 | 1,122 | 1,091 |
| Net working capital | 1,248 | 986 | 421 | 283 | 166 | (175) | (169) |
| Total assets | 1,768 | 2,378 | 1,748 | 1,806 | 1,842 | 1,400 | 1,200 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 6.00 | 10.40 | 2.54 | 43.76 | 19.08 | 2.68 | 0.30 |
| Net cash from operating activities | 86.75 | 70.36 | 53.74 | (72.90) | 155 | 112 | 409 |
| Net cash from investing activities | (288) | (650) | 36.53 | 26.35 | (53.04) | (176) | (308) |
| Net cash from financing activities | 282 | 575 | (82.41) | 5.33 | (77.41) | 80.44 | (99.19) |
| Net change in cash | 80.58 | (4.40) | 7.87 | (41.22) | 24.68 | 16.40 | 2.38 |
| Closing cash | 501 | 45.80 | 14.54 | 45.14 | 68.92 | 27.19 | 14.15 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +16.5% | +1.4% | -18.5% | +42.5% | -1.6% | -55.8% | - |
| EBITDA growth | -62.1% | -9.5% | +72.0% | -0.5% | +56.9% | -76.7% | - |
| PBT growth | +37.9% | +245.1% | +9998.0% | +35.6% | +20.6% | +15.6% | +0.7% |
| Net income growth | +54.1% | +13.9% | +148.8% | -7.6% | +26.6% | -88.9% | - |
| Revenue CAGR (3Y) | -1.3% | +5.6% | +4.5% | -14.7% | -6.8% | -21.6% | -12.3% |
| EBITDA CAGR (3Y) | -16.1% | +15.7% | +39.0% | -28.6% | +2.7% | - | - |
| Profitability & leverage | |||||||
| Net income margin | +22.0% | +18.8% | +5.7% | -27.0% | -32.8% | -40.7% | -14.4% |
| Return on capital employed | - | +2.8% | +3.4% | 0.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | - | +1.7% | +2.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | - | 0.07 | 0.19 | 0.52 | 1.89 | 12.23 | 18.80 |
| Long-term debt / equity | - | 0.02 | 0.09 | 0.21 | 0.76 | 5.69 | 9.58 |
| Interest cover | 45.20 | -473.02 | 1,826.47 | -210.29 | -301.62 | -208.94 | 316.57 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 0.20 | 0.19 | 0.24 | 0.18 | 0.20 | 0.58 |
| Inventory turnover | - | 2.73 | 4.67 | 11.02 | 1.00 | 0.54 | 1.13 |
| Debtors turnover | - | 1.39 | 1.92 | 3.21 | 1.17 | 0.72 | 1.77 |
| EPS (₹) | 1.40 | 1.05 | 0.39 | (2.29) | (2.43) | (5.59) | (4.95) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 51.41 | 40.88 | 40.43 | 38.60 | 5.79 | 4.00 |
To see the full year-wise statements and ratios of Inox Green Energy Services Limited, buy the company report.
Board of directors of Inox Green Energy Services Limited
Inox Green Energy Services has 6 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Manoj Dixit Also directs: Inox Wind Limited, Inox Neo Energies Limited, Dangri Wind Energy Private Limited and 5 more | Whole-Time Director | 02 Feb 2018 | 8 Years 8 Months | Current |
| Mukesh Manglik Also directs: Inox Wind Limited, Inox Renewable Solutions Limited, RBRK Investments Limited and 5 more | Whole-Time Director | 19 May 2020 | 6 Years 5 Months | Current |
| Bindu Saxena Also directs: Inox Renewable Solutions Limited, Igrel Mahidad Limited, Inox Clean Energy Limited and 4 more | Director | 12 Jan 2022 | 4 Years 9 Months | Current |
| Shailendra Tandon Also directs: Igrel Mahidad Limited, Dangri Wind Energy Private Limited, Ghanikhedi Wind Energy Private Limited and 5 more | Director | 03 Dec 2022 | 3 Years 10 Months | Current |
| Brij Mohan Bansal | Director | 21 Oct 2024 | 2 Years 0 Months | Current |
| Sanjeev Jain | Director | 01 Apr 2024 | 2 Years 6 Months | Current |
Auditor
Inox Green Energy Services Limited is audited by Dewan P. N. hopra & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Dewan P. N. hopra & Co. | FY 2023 | 000472N |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 56.10%, foreign institutional investors hold 7.90%, domestic institutional investors hold 1.80% and retail and other public shareholders hold 34.20%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 56.10% | 56.10% | 54.80% | 56.00% |
| Public | 43.90% | 43.90% | 45.20% | 44.00% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Sep 2023 | 100789195 | Others | ₹85 Cr | Open | |
| 29 Jan 2021 | 100412106 | Others | ₹100 Cr | Open | |
| 22 Jun 2017 | 100125634 | Others | ₹50 Cr | Open | |
| 29 Sep 2023 | 100787356 | Others | ₹40 Cr | Satisfied | |
| 17 Oct 2022 | 100650353 | Others | ₹46.5 Cr | Satisfied |
To see the full charge records of Inox Green Energy Services Limited, buy the company report.
Total charge records: 26 View all charges
Deals & funding
Inox Green Energy Services Limited has 15 deals on record (13 market trades, 1 ipo, 1 funding round), with disclosed funding of ₹1,050 Cr; the latest was in March 2026.
Deals on record (5 of 15)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2026 | Market trade | ₹63.5 Cr | Buyer: NK Securities Research Private Limited Seller: NK Securities Research Private Limited |
| Aug 2024 | Market trade | ₹35.23 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jun 2024 | Funding round | ₹1,050 Cr | Investors: Inox Leasing and Finance Limited , Samena Green Limited, Universal Golden Fund |
| May 2024 | Market trade | ₹63.79 Cr | Buyer: Sixteenth Street Asian Gems Fund Seller: Icm Finance Private Limited |
| Dec 2023 | Market trade | ₹47.04 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
To see the full deal history of Inox Green Energy Services Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Inox Green Energy Services Limited has 164 court cases on record: 50 filed by Inox Green Energy Services, 114 filed against it. 35 cases are pending and 129 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 72 | 59 | 18 |
| High courts | 69 | 35 | 10 |
| NCLT | 16 | 14 | 5 |
| NCLAT | 5 | 5 | 1 |
| Supreme Court | 2 | 1 | 1 |
Cases on record (5 of 164)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Court case (O.M.P. (COMM)) | Filed against the company by Jath Wind Energy Private Limited | Pending |
| High Court of Delhi | Court case (O.M.P. (COMM)) | Filed against the company by Nilgiri Power Private Limited | Pending |
| District court, Ahmedabad, Gujarat | Commercial matter | Filed by the company against Gujarat Mineral Development Corporation Limited | Pending |
| High Court of Gujarat | Special civil application | Filed by the company against Gujarat Energy Transmission Corporation Ltd. (Getco) and 2 others | Pending |
| NCLAT, Chairperson Court | Tribunal matter | Filed against the company by M/S Kailash Devbuild India Private Limited | Pending |
To see the full case history of Inox Green Energy Services Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Inox Green Energy Services Limited was last rated by Acuite on 27 Aug 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Acuite | 27 Aug 2026 |
To see the full credit ratings and regulatory alerts of Inox Green Energy Services Limited, buy the company report.
MSME payment delays
Inox Green Energy Services Limited has 15 MSME Form 1 returns on record between 2018 and 2024, listing 190 overdue payments to 8 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 8)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Dewan P.N .Chopra & Co. | |||
| Geo Designs and Research Private Limited | |||
| Spiktel Technologies Private Limited | |||
| Archit Electricals Pvt Ltd | |||
| R.B.Traders |
To see the full MSME payment records of Inox Green Energy Services Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Inox Green Energy Services has 16 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Vasuprada Renewables Private Limited | U40100GJ2017PTC097130 | |
| I-Fox Windtechnik India Private Limited | U40100TZ2019PTC031539 | |
| Vibhav Energy Private Limited | U40106GJ2017PTC098230 | |
| Tempest Wind Energy Private Limited | U40106GJ2018PTC100590 | |
| Vuelta Wind Energy Private Limited | U40106GJ2018PTC100591 | |
| Flurry Wind Energy Private Limited | U40200GJ2018PTC100607 |
To see the full group structure of Inox Green Energy Services Limited, buy the company report.
Employees & EPFO
Inox Green Energy Services Limited has a workforce of 335 employees on its EPFO records as of Oct 22, 2024, across 1 active EPFO establishment.
GST
Inox Green Energy Services has 12 GST registrations: 12 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCI9265N1Z2 | Gujarat | Active | 01 Jul 2017 |
| 08AACCI9265N1ZW | Rajasthan | Active | 01 Jul 2017 |
| 09AACCI9265N1ZU | Uttar Pradesh | Active | 01 Jul 2017 |
| 23AACCI9265N1Z4 | Madhya Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Inox Green Energy Services Limited, buy the company report.
Recent activity
Inox Green Energy Services Limited has 8 board changes on record since 2018: 6 appointments and 2 cessations. The latest: Brij Mohan Bansal was appointed as Director on 21 Oct 2024.
56 earlier events are in the company report.
News
Frequently asked questions
Inox Green Energy Services is an active public limited company based in Vadodara, Gujarat, India. The company works in bop and btg services, within the energy and power industry. It was incorporated on 11 May 2012 (14+ years old) and is registered under CIN L45207GJ2012PLC070279. Listed on BSE: 543667 and NSE: INOXGREEN.
Inox Green Energy Services reported revenue of ₹281.01 Cr for FY 2025-26 (up 19.3% YoY) based on consolidated financials.
Inox Green Energy Services has 6 current directors:
- Manoj Dixit - Whole-Time Director
- Mukesh Manglik - Whole-Time Director
- Bindu Saxena - Director
- Shailendra Tandon - Director
- Brij Mohan Bansal - Director
- Sanjeev Jain - Director
The latest financial statements of Inox Green Energy Services on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Inox Green Energy Services is 24AACCI9265N1Z2, registered in Gujarat. The company has 12 GST registrations in all, of which 12 are active. Other active GSTINs include 08AACCI9265N1ZW (Rajasthan), 09AACCI9265N1ZU (Uttar Pradesh), 23AACCI9265N1Z4 (Madhya Pradesh).
The CIN (Corporate Identification Number) of Inox Green Energy Services is L45207GJ2012PLC070279. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Inox Green Energy Services is listed on both BSE (code: 543667) and NSE (symbol: INOXGREEN).
Inox Green Energy Services has 164 court cases on record: 50 filed by the company and 114 filed against it. 35 are pending. Most are in the district courts.
Inox Green Energy Services was incorporated on 11 May 2012, making it 14+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Inox Green Energy Services has 15 deals on record (13 market trades, 1 ipo, 1 funding round), with disclosed funding of ₹1,050 Cr; the latest was in March 2026.
Brij Mohan Bansal was appointed as Director on 21 Oct 2024. Venkatanarayanan Sankaranarayanan ceased to be Director on 21 Oct 2024. Sanjeev Jain was appointed as Director on 01 Apr 2024. Inox Green Energy Services has 8 board changes on record in total.