Inox Green Energy Services Limited (IGESL) has reported a robust financial performance for the second quarter of fiscal year 2026, alongside announcing the allotment of shares under its employee stock option scheme.

Financial Highlights

For Q2 FY26, IGESL reported:

• Total income of Rs 129.50 crores, up 101% year-over-year (YoY) from Rs 64.40 crores in Q2 FY25
• EBITDA of Rs 52.20 crores, a 52% YoY increase from Rs 34.40 crores
• Profit after tax (PAT) of Rs 28.10 crores, surging 363% YoY from Rs 6.10 crores
• Cash PAT of Rs 50.90 crores, growing 121% YoY from Rs 23.10 crores

The company's machine availability improved to 96.3% in Q2 FY26, indicating enhanced operational efficiency.

Business Expansion

IGESL has completed investments to acquire 6.5 GW of wind Operations & Maintenance (O&M) assets, taking its total O&M portfolio to approximately 12.5 GW. These numbers are expected to consolidate into the profit and loss statement in FY27.

Corporate Actions

The company's board has approved the allotment of 102,500 equity shares under the 'Inox Green - Employees Stock Option Scheme 2024' (ESOS 2024). This allotment has increased the company's issued and paid-up equity share capital from Rs. 373,37,24,900 to Rs. 373,47,49,900.

Demerger Update

IGESL has received approval from shareholders and creditors for the scheme of demerger of its substation business and subsequent merger into Inox Renewable Solutions. This strategic move is expected to result in the elimination of depreciation.

Future Outlook

With its expanding O&M portfolio and strategic corporate actions, IGESL appears well-positioned in the renewable energy sector. The company's focus on operational efficiency and portfolio expansion could potentially impact its financial performance in the coming quarters.

Inox Green Energy Services Limited (INOX Green) has announced its best-ever quarterly performance for Q2, showcasing significant growth across key financial metrics.

Financial Highlights

Operational Performance

The company reported an improved machine availability of 96.3% for its portfolio in Q2, indicating strong operational efficiency.

Strategic Expansion

INOX Green has completed investments to acquire 6.5 GW of wind O&M assets, expanding its O&M portfolio to approximately 12.5 GW. This strategic move positions the company to become the largest Indian renewable energy O&M service provider. The financial impact of this expansion is expected to be reflected in the company's future profit and loss statement.

Corporate Restructuring

The company has received approval from shareholders and creditors for a scheme of demerger of its substation business. This demerger, once approved by the National Company Law Tribunal (NCLT), is expected to result in the elimination of associated depreciation, potentially leading to higher profitability for INOX Green.

Market Position

With its expanded portfolio and strong quarterly performance, INOX Green is solidifying its position in the renewable energy O&M sector. The company's focus on operational efficiency and strategic acquisitions appears to be paying off, as evidenced by the substantial year-over-year growth in key financial metrics.

Future Outlook

The company's management expects the profitability to grow in the future, driven by the consolidation of newly acquired assets and improved operational efficiencies. The demerger of the substation business, once completed, may further enhance the company's financial performance by streamlining operations and reducing depreciation costs.

INOX Green's record performance in Q2 and its strategic moves to expand its O&M portfolio demonstrate the company's strong growth trajectory in the renewable energy sector. Investors and industry observers will likely be watching closely to see how these developments translate into long-term value creation for the company and its stakeholders.