A leading player in India’s renewable energy sector is making strategic moves amid the global renewable energy boom.
The company has announced a significant restructuring through the demerger of its Power Evacuation Business into Resco Global Wind Services Limited. This strategic separation, valued at Rs. 14.93 crore, aims to create distinct entities focusing on O&M services and power evacuation operations, respectively.
Share Price Movement
The share price of Inox Green Energy Services went Up by 3.95 percent to Rs. 154.49 per share on Thursday, an increase from its previous close of Rs. 148.62 per share. The market capitalisation now stands at approximately Rs. 5,627 crore as of November 14, 2024.
What Happened
Inox Green Energy Service Limited is demerging its Power Evacuation Business (Rs. 14.93 crore, 6.19% of turnover) to Resco, offering 122 Resco shares per 1,000 IGESL shares. The move separates O&M and power evacuation businesses, with Resco to be listed on BSE/NSE.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Inox Green Energy Service’s consolidated revenue from operations has increased by 16.4 percent YOY from Rs. 47.39 crore in Q2 FY24 to Rs. 55.18 crore in Q2 FY25 and increased by 8.5 percent QoQ from Rs. 50.86 crore in Q4 FY24.
The company’s consolidated net profit has increased by 5.2 percent, from Rs. 5.79 crore in Q2 FY24 to Rs. 6.06 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 46 percent QoQ from Rs. 4.14 crore.
Market Outlook
The renewable energy sector is experiencing significant growth, with global capacity surging by 50% to 510 GW in 2023. The industry targets reaching 7,300 GW by 2028, with China leading at 60% of new capacity additions. Solar PV manufacturing is expanding rapidly, expected to reach 1,100 GW by 2024. The wind sector added 106 GW onshore and 10.8 GW offshore capacity. Despite challenges like supply chain issues and project delays, the industry is adopting AI and machine learning for predictive maintenance, focusing particularly on offshore wind development.
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Shareholding Pattern
As of the November 2024 shareholding pattern, Inox Green Energy Services Limited is primarily held by the promotors at 56.35 percent, foreign institutional investors hold 9.12 percent, and the public with 30.84 percent.
About Company
Inox Green Energy Services Limited, a leading wind power operations and maintenance (O&M) company in India, has carved out a significant presence in the renewable energy sector. Originally founded as Inox Wind Infrastructure Services in 2012, the company rebranded as Inox Green Energy Services in 2021 and is headquartered in Vadodara, Gujarat. It operates as a subsidiary of Inox Wind Limited within the INOX GFL Group.
Inox Green focuses on providing essential O&M services for wind turbine generators (WTGs) and infrastructure at wind farm sites, overseeing a portfolio of over 3.2 GW in assets. Known for reliability, the company reported a machine availability rate of over 97% in Q4 FY24 and aims to reach 6 GW in managed assets by FY26.
With a mission to advance sustainable energy solutions, Inox Green emphasises high operational standards and ethical practices. This dedication positions it as a crucial partner in India’s renewable energy growth.
Written By Fazal Ul Vahab C H
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