Inox Green Energy Services Limited (INOXGREEN) showcased impressive financial results for Q1 FY27, with a notable 17% year-over-year increase in total income to Rs 101 crores, compared to Rs 86 crores in Q1 FY26. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 19% to Rs 57 crores, up from Rs 48 crores in the same quarter last year.

Robust Financial Performance

Profit before tax surged by 74% to Rs 54 crores, and profit after tax jumped by 86% to Rs 41 crores, reflecting the company’s strong operational efficiency and strategic growth initiatives. Additionally, cash profit after tax increased by 25% to Rs 55 crores, underscoring the company’s robust cash flow management.

Strategic Growth and Expansion

Inox Green Energy Services Limited is on a massive growth journey, with a planned annual capacity addition of 3 GW+, targeting an operational capacity of 14 GW by FY29. The company’s integrated services, including evacuation infrastructure development, erection and commissioning of wind turbines and solar modules, and power electronics manufacturing, position it as a leader in the energy transition sector.

As the company continues to expand its portfolio and integrate new acquisitions, such as the recently approved acquisition of the 4.5 GW wind O&M portfolio of Wind World India Ltd, it is well-positioned to deliver sustained growth and value to its shareholders.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Inox Green Energy Services Limited

Inox Green Energy Services Limited belongs to the Utilities › Utilities – Renewable sector. Here’s a quick read on where the business and the stock stand today.

Inox moves sideways over three months, with neither buyers nor sellers taking control. Industry-leading margins of 36.4% reflect exceptional pricing power and operational efficiency. No meaningful dividend — total return is entirely dependent on capital appreciation. The stock holds at 30% of its 52-week range with RSI at 41. In other words, neither side has a clear edge right now. Revenue grows at 12.5% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Inox Green Energy Services Limited.

Inox Green Energy Services Limited (INOXGREEN) breaks below support, falling -5% today. The stock has now breached its 6-month support trendline, signaling a technical breakdown. Inox Green operates in the utilities sector, specifically within renewable energy services. Today’s move appears to be company-specific, as the broader renewable sector has not shown similar weakness. This breakdown suggests that near-term technical pressure is mounting for INOXGREEN.

Technical setup — trendlines & DMA

The current 6-month support trendline for INOXGREEN was at ₹204.12, and the stock has now fallen 23.48% below this level, indicating a clear breakdown. Resistance is further above at ₹219.42, which is 32.74% higher than the current price. The 50-day moving average (DMA) is slightly above the 200-DMA, both around ₹189, suggesting a mildly bullish longer-term trend, though the stock is currently trading below both averages. INOXGREEN is in the lower third of its 52-week range, trading 22% above the low but 40.8% below the high, implying that while some downside is priced in, there’s still room for further declines if negative momentum continues.

Fundamentals & business context

With a PE ratio of 63.5, INOXGREEN is trading at a premium, especially considering its current profit margin of 36.4% and a 5-year revenue CAGR of 12.5%. This suggests that the market may be pricing in future growth expectations, though the absence of profit CAGR growth over the past five years raises questions about the sustainability of this valuation. Institutional ownership stands at 5.2%, indicating a cautious approach from smart money, likely due to the company’s mixed fundamental picture. There was no NSE catalyst today, making this move primarily technical in nature.

Algorithmic scorecard

The overall algorithmic scorecard for INOXGREEN reflects a technically strong but fundamentally weaker profile. Two of the strongest signals are the company’s excellent profit margin of 36.4%, indicating strong operational efficiency, and its very low debt level with a D/E ratio of 0.09, showcasing solid financial health. On the flip side, the two weakest signals are the negligible dividend yield of 0%, offering little income to shareholders, and the declining profit CAGR of 0% over the past five years, which raises concerns about long-term earnings growth. These contrasting signals highlight the need for cautious optimism when considering INOXGREEN’s stock.

Company outlook

Management provided forward-looking guidance indicating consolidated revenue growth of around 75% over FY26, with an EBITDA margin target of 20%. Inox Green’s EBITDA is expected to exceed INR600 crores for FY27. The growth drivers include Inox Wind’s increasing order book and the planned capacity addition of 3 GW annually for Inox Clean Energy. Additionally, the launch of Inox Wind’s new 4.4-MW turbine within the calendar year is expected to improve margins. Inox Green’s acquisition of 6.5 GW of operational wind O&M assets is anticipated to significantly boost consolidated EBITDA and PAT for FY27. Management also hinted at a potential dividend policy post-acquisition and the deployment of INR600 crores of expected EBITDA for FY27 in the interest of shareholders.

Get all details on INOXGREEN — P&L, peers, shareholding and more on TradeAlone.

Inox Green Energy Services Limited (INOXGREEN) breaks below support, falling -5% today. This move follows the receipt of NCLT Approval by the Consortium in the matter of Wind World (India) Limited, as announced by the company. Inox Green Energy operates in the utilities sector, specifically within renewable energy. Today’s decline appears to be company-specific, as the broader renewable energy sector has not shown significant movement.

Technical setup — trendlines & DMA

The current trendline structure for Inox Green Energy shows a breakdown below the 6M support trendline, which ended at ₹204.12. The stock is now trading 17.70% below this support level. Resistance is noted at ₹219.42, which is 26.53% above the current price. The 50-DMA stands at ₹188.9, slightly below the 200-DMA at ₹189.3, indicating a bearish trend. The stock is currently in the lower third of its 52-week range, suggesting that much of the downside may already be priced in, though there is still room for further decline.

Fundamentals & business context

With a PE ratio of 66.1 and profit margins at 36.4%, Inox Green Energy’s valuation appears stretched relative to its current earnings, especially given the revenue CAGR of 12.5% over the past five years. The market may be pricing in future growth, but the lack of profit CAGR over the same period raises questions about the sustainability of this valuation. Institutional ownership stands at 5.2%, indicating a cautious approach by smart money. There was no specific NSE catalyst today beyond the NCLT approval news.

Algorithmic scorecard

The overall algorithmic scorecard reflects a balanced but cautious view of Inox Green Energy. The strongest signals include excellent efficiency with a 36.4% profit margin, indicating strong profitability, and very low debt with a D/E ratio of 0.09, showcasing excellent financial health. On the weaker side, the negligible dividend yield of 0% offers little income to shareholders, and the declining profit CAGR over the past five years suggests challenges in sustaining growth. These factors collectively paint a picture of a company with solid fundamentals but facing growth hurdles.

Company outlook

Management provided forward-looking guidance indicating consolidated revenue growth of around 75% over FY26, with an EBITDA margin target of 20%. Inox Green’s EBITDA is expected to exceed INR600 crores for FY27. The growth drivers include Inox Wind’s increasing order book and the planned capacity addition of 3 GW annually by Inox Clean Energy. Additionally, the launch of Inox Wind’s new 4.4-MW turbine is expected within the calendar year, aiming for margin improvements. Inox Green’s acquisition of 6.5 GW of operational wind O&M assets is anticipated to significantly boost consolidated EBITDA and PAT for FY27. Management also outlined plans for a potential dividend policy post-acquisition consolidation and the deployment of INR600 crores of expected EBITDA for FY27 in the interest of shareholders.

Get all details on INOXGREEN — P&L, peers, shareholding and more on TradeAlone.