Inox Green Energy Solutions Limited (‘Inox Green’), India’s leading listed renewable operations and maintenance (‘O&M’) service provider, has completed the payment for the transfer of Wind World India’s 4.5 GW wind O&M business. The payment was made through Inox Green’s subsidiary Vibhav Energy Private Limited (‘VEPL’) as per the Business Transfer Agreement (‘BTA’) executed between VEPL and Wind World India Limited (‘WWIL’). This landmark transaction represents a significant deal in India’s renewable O&M sector.

Revenue Boost

WWIL’s O&M arm achieved a turnover of approximately ₹580 crores in FY26. The acquired portfolio services a marquee client base, including the Tata Group, ReNew, Greenko Group, Apraava Energy, and Hindustan Zinc. The assets span across key wind-rich states, including Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, and Andhra Pradesh. The portfolio generated revenue of approximately ₹580 crore in FY26 and benefits from contracted annual price escalation of approximately 5%.

Strategic Growth

Inox Green’s O&M portfolio currently stands at ~13.3 GWp (as of June 2026, inclusive of WWIL and a separate ~2 GW wind O&M acquisition currently held as an investment). By leveraging operational efficiencies, advanced technology platforms, and group synergies, Inox Green is uniquely positioned to substantially boost the acquired portfolio’s revenues and operating margins. Supported by the INOXGFL Group ecosystem —including planned large annual capacity additions at Inox Clean Energy and external projects executed by parent company Inox Wind—Inox Green is firmly on track to exceed 20 GW+ capacity in the near future.

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 drops 25.1% over three months and trades near its 52-week lows. Industry-leading margins of 44.5% reflect exceptional pricing power and operational efficiency. No meaningful dividend — total return is entirely dependent on capital appreciation. RSI stands at 24, well into oversold territory. Yet sellers still dominated on 18 of recent sessions versus 12 for buyers, so the pressure has not fully lifted. Revenue grows at 10.9% CAGR — a respectable pace. However, the stock drops 25.1% in three months without an obvious fundamental trigger. Sector-wide pressure or a valuation re-rating can persist for longer than expected. Therefore, there is no rush to step in. Check Fundamentals of Inox Green Energy Services Limited.

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.

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