Mumbai, August 7: India’s leading pure play renewable player Inox Green Energy is likely to remain in focus today with its net profit surging 85% year on year to ₹40.7 crore in Q1FY27 from ₹22 crore in the same period last year.
For the Operations and Maintenance (O&M) service provider, the earnings coincide with regulatory approval from the National Company Law Tribunal (NCLT) Ahmedabad bench for its acquisition of Wind World’s India’s O&M portfolio, allowing it to realize long-term recurring cash flows to the tune of ₹550 crore. Overall, the company could expect about ₹600 crore in recurring annual revenues.
With operations and maintenance contracts in the wind energy sector typically running on long term agreements, Wind World’s 4.5GW assets is expected to boost Inox Green’s long term revenue visibility, as the company aims to broaden its client base to include major industrial players like the Tata Group, ReNew Energy, Greenko Group and Hindustan Zinc.
The company is also expected to carve out its power transmission and evacuation assets, as Inox Green aims to operate as a clean, asset-light utility service focusing purely on high-margin O&M operations.
As India’s premier listed pure-play O&M service company, Inox Green has relied on acquisitions for its growth trajectory, acquiring Resowi Energy in early 2024 and I-Fox Windtechnik in December 2022.
Inox Green’s share prices have risen 5.5% over the past 5 days, trading at ₹179.50 as at 5.30PM on August 7.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
