Synopsis:
Inox Green Energy Services Limited has signed an agreement to provide Operations and Maintenance services for solar projects with an independent power producer operating in Maharashtra, Gujarat, and Madhya Pradesh.
The shares of one of India’s major wind power operation and maintenance service providers are in focus after receiving work orders from independent power producers operating in Maharashtra, Gujarat, and Madhya Pradesh.
With the market capitalization of Rs.5,639.21 crore, the shares of Inox Green Energy Services Limited are trading at Rs.153.65, up by 1.62 percent from its previous day’s closing price of Rs.151.20.
Work Order
Inox Green Energy Services Limited has announced signing agreements to provide O&M services for a total of 189.1 MWp for solar projects. The agreement covers 96.6 MWp of projects in Maharashtra for a global private equity-backed independent power producer, along with 92.5 MWp of projects across Gujarat and Madhya Pradesh for another independent power producer.
Adding more, Inox Green’s solar operations and maintenance portfolio has expanded to 1.8 GW. This growth reflects the company’s strong momentum in the solar segment and brings its overall renewable energy O&M portfolio to approximately 5.3 GW.
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Management Commentary
Inox Green Energy Services Limited’s CEO, Mr.SK Mathu Sudhana, commented as follows: “We are pleased to have secured another 189.1 MWp of solar O&M agreements, and rapidly expand in this segment. Inox Green has scaled up its solar O&M portfolio within a very short span of time, and we are continuously on the lookout for and participating in large-scale O&M opportunities across solar, wind, and RE infrastructure space. Being one of the leading renewable O&M services providers in the country, we are confident of capturing a significant portion of the upcoming opportunities and rapidly scaling up our portfolio in the coming years.”
Operational Front
Inox Green Energy Services Limited is one of India’s leading companies in renewable power operations and maintenance. The company focuses on providing long-term O&M services for renewable energy projects.
With more than a decade of experience, a wide and diverse portfolio, and long-term contracts, the company has built a reputation for dependable cash flows. Its clients include major independent power producers, public sector undertakings, and a range of retail customers.
The company’s current portfolio is around 5.1 GW, O&M contracts with multi-year commitments are up to 25 years, and the net order book is 3.1 GW as per recent data available.
In the first quarter of FY26, the company reported revenue from operations of Rs.56.2 crore, up from Rs.50.8 crore in the same quarter of FY25. Net profit also rose sharply to Rs.22.3 crore from Rs.4.15 crore a year earlier.
The firm’s return on equity stands at 1.06 percent, while return on capital employed stands at 2.90 percent. With a P/E ratio of 145.27, which is higher than the industry average of 30.78, the stock appears to be valued more favorably compared to its peers.
Written By Jhanavi Sivakumar
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