Inox Green Energy Services Ltd
Inox Green Energy Services Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
FY27 revenue guidance targets a 75% growth over FY26, aiming for approx. FY27 revenue guidance targets a 75% growth over FY26, aiming for around INR7,500 crores.
From Inox Green Energy Services Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- FY27 revenue guidance targets a 75% growth over FY26, aiming for approx. INR7,500 crores (up from INR4,500 crores in FY26).
- The company is "sold out" for the next 2.5 years with a 3.1 GW order book backed by strong visibility from Inox Green.
- Inox Green expects consolidated EBITDA north of INR600 crores in FY27, driven by organic growth and acquisitions.
- Shift in business model: pivot from 100% turnkey EPC projects to 75%-80% equipment supply to improve cash flow and reduce working capital blockage.
- Inox Green poised for rapid growth benefiting from over 3 GW annual capacity additions by group company Inox Clean.
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Profitability & Margins
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Capital Expenditure Plans
- Inox Green has made nearly 9-10 acquisitions in recent months, including two of the top four bankrupt wind OEMs in India.
- The company aims to integrate these acquisitions fully before deploying further capital.
- While there are limited acquisition opportunities in India's wind sector due to consolidation, a couple of gigawatt (GW) projects are lined up, expected to use only 10-20% of free cash flow.
- Management is considering how to best utilize free cash flow after integration.
- The company is pivoting from turnkey EPC projects to equipment supply (now 75-80% of order book), focusing on higher-margin, capital-light businesses to generate strong free cash flows without working capital blockage.
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Top-ranked in Commercial Services & Supplies
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Inox Green Energy Services Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book stands at approximately 3.1 GW, with about 500 MW from group company Inox Clean Energy unexecuted, representing around 16% of the total.
- Over the past year, 600 MW of new orders were added from marquee customers like Aditya Birla, Gentari / Amplus, Jakson Green, First Energy, and Leap Green.
- The order mix has shifted from 100% turnkey 24 months ago to currently about 50:50 turnkey and equipment supply, with plans to increase equipment supply to 75-80%.
- Strong execution visibility for more than 24 months.
- The company expects large recurring order inflows from Inox Clean Energy, which plans to add over 3 GW capacity annually, with 20-30% wind, serving as about one-third of annual execution targets.
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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. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Inox Green Energy Services Ltd's management said in earlier quarters
- Q3 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
- Q3 FY23 earnings call →
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Frequently Asked Questions
What were Inox Green Energy Services Ltd Q4 FY26 results?
FY27 revenue guidance targets a 75% growth over FY26, aiming for approx. FY27 revenue guidance targets a 75% growth over FY26, aiming for around INR7,500 crores.
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?
Inox Green has made nearly 9-10 acquisitions in recent months, including two of the top four bankrupt wind OEMs in India.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.