Inox Green Energy Services Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 5 Aug 2026 | Commercial Services & Supplies | Market Cap: ₹7.5K Cr
FY 2026 guidance for execution is 1,200 MW, with a target to increase to 2,000 MW in FY 2027. The company maintains a firm annual guidance of 1,200 MW execution in FY26 and 2,000 MW for FY27, indicating strong volume growth.
From Inox Green Energy Services Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹178
Market Cap
₹7.5K Cr
P/E Ratio
61.3
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Inox Green Energy Services Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹82 Cr, net profit ₹25 Cr.
Full financials →📊 Revenue & Sales Performance
- →FY 2026 guidance for execution is 1,200 MW, with a target to increase to 2,000 MW in FY 2027.
- →The company is on track for 1,200 MW for the current year despite some quarterly fluctuations.
- →Manufacturing capacity exceeds 400 MW, with expansions such as a new blade plant in South India and nacelle and transformer factories commissioned.
- →The firm order book stands at 3.1 to 3.2 GW, covering approximately two years of execution, with advances in place.
- →Order book growth is expected to continue, supported by bids in PSU and private sectors, including large tenders expected in the next 1-2 quarters.
- →The industry outlook anticipates wind capacity additions of 5 to 6 GW this year, potentially rising to 8-10 GW in future years.
- →Revenue growth is expected from both execution volume increases and higher profitability, with cash PAT and PAT up significantly year-on-year.
- →INOX Green is also expected to scale significantly from 5 GW to 17 GW of assets under management.
📈 Profitability & Margins
- →The company maintains a firm annual guidance of 1,200 MW execution in FY26 and 2,000 MW for FY27, indicating strong volume growth.
- →Profitability is a key focus, with management highlighting consistent upgrades to guidance and execution ahead of targets over past six quarters.
- →Cash PAT is up 168%, PAT up 134%, and PBT up 167% year-on-year, demonstrating strong profit growth alongside volume.
- →Other income from INOX Green is expected to continue growing quarter-on-quarter, supported by value addition services and investments in O&M assets controlling 2 GW.
- →Management emphasizes long-term growth over short-term equity dilution concerns, aiming to protect minority shareholder returns.
- →Order book stands firm at 3.1-3.2 GW with diverse marquee customers, supporting visibility and sustained future earnings growth.
- →Expected sector tailwinds include GST rate cuts from 12% to 5%, reducing capital costs and potentially increasing returns or lowering energy costs, encouraging investment.
🏗️ Capital Expenditure Plans
💰 Fundraising & Capital Structure
- →There is a mention of a rights issue raising INR 560 crore.
- →Proceeds from the rights issue will be partly used to pare down the remaining net debt, which will strengthen the net cash position.
- →The balance amount from the rights issue is planned to be invested by the promoters upfront.
- →Additional funds may be used for business expansion, including backward integration and future acquisitions.
- →No explicit mention of new debt fundraising; focus is on reducing existing debt and using equity (rights issue) proceeds for expansion.
- →Management does not provide detailed guidance on further specific fundraising plans through debt or equity beyond this rights issue.
📋 Order Book & Pipeline
- →Current firm order book stands at approximately 3.1 to 3.2 gigawatts, covering roughly two years of execution.
- →The company has diversified customers, including 10-12 large clients such as NTPC, CESC, Amplus, Hero, Continuum, and First Energy.
- →New customer acquisitions are ongoing, with a few new names expected to be announced in the coming months.
- →The strategy focuses on both horizontal growth (expanding existing relationships) and vertical growth (bringing in new customers).
- →Multi-gigawatt Letters of Intent (LOIs) and Memorandums of Understanding (MOUs) exist but are not counted until they become firm contracts with advances.
- →Recently bid on multiple PSU tenders to increase volume from that segment.
- →Order inflow pipeline remains strong, with expectations of 5-6 gigawatt capacity additions in the wind sector for FY '26.
Key Metrics
Frequently Asked Questions
What were Inox Green Energy Services Ltd Q1 FY26 results?
FY 2026 guidance for execution is 1,200 MW, with a target to increase to 2,000 MW in FY 2027. The company maintains a firm annual guidance of 1,200 MW execution in FY26 and 2,000 MW for FY27, indicating strong volume growth.
What is Inox Green Energy Services Ltd share price analysis?
Inox Green Energy Services Ltd currently shows a neutral. The stock trades at a P/E of 61.3 with a market cap of ₹7,511 Cr. Investors should review the full earnings analysis for detailed insights.
Is Inox Green Energy Services Ltd planning capital expenditure?
Operationalized a new nacelle plant in Ahmedabad to increase manufacturing capacity.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.