Inox Green Energy Services Limited — Investor Meet, 20-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Inox Wind reports a strong Q2FY26: revenue at 1,162 Cr (+56% YoY), EBITDA 271 Cr (+48% YoY), and PAT 121 Cr (+43% YoY), marking its best-ever Q2. Inox Green also achieved its best financial performance with total income of 129.5 Cr (+101% YoY) and PAT of 28.1 Cr (+363% YoY), with portfolio availability averaging 96.3%.

Inox Wind executed 202 MW in Q2, totaling 350 MW in H1, affirming its 1.2 GW full-year target. The company boasts a 3.2 GW order book and is negotiating framework agreements for an additional 1 GW annual recurring orders. Manufacturing expansion in South India is underway. The demerger of Inox Green's substation business is progressing, set to eliminate 1,000 Cr gross block and 50-55 Cr annual depreciation, boosting profitability and return ratios.

Inox Green's O&M portfolio expanded to 12.5 GW, aiming for 17 GW in two years, leveraging organic and inorganic growth. Management is confident in exceeding financial targets, highlighting strategic integrations, hybrid projects, and favorable policy shifts. The sector anticipates increased demand for hybrid projects, viewing recent PPA cancellations as an opportunity for genuine bids. Inox Wind's O&M realization for wind is 0.08-0.10 Cr/MW, and for solar, 0.02 Cr/MW. Management's tone is confident regarding future execution and strategic growth.