INOX Green Energy Services Limited announced its Q3FY26 financial results on February 13, 2026, demonstrating robust performance with significant growth in revenue and profitability. The company's Board of Directors approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.

Financial Performance Highlights

The company delivered strong financial results for Q3FY26, showing substantial improvement across key metrics:

For the nine months ended December 31, 2025, the company reported revenue from operations of ₹19,655 lakh compared to ₹14,814 lakh in the corresponding period last year, representing a growth of 32.69%. Net profit after tax for the nine-month period stood at ₹4,517 lakh versus ₹2,529 lakh in the previous year.

Board Decisions and Corporate Actions

The Board of Directors made several important decisions during their meeting held on February 13, 2026:

Shri Mukesh Manglik, aged 74 years, brings over four decades of experience in power electronics and process controls, including two decades in the wind industry. He has been associated with the INOXGFL Group since 2008, heading the Engineering and Product Development Department.

Consolidated Performance

On a consolidated basis, the company reported total income of ₹11,173 lakh for Q3FY26 compared to ₹7,398 lakh in Q3FY25. The consolidated net profit after tax reached ₹2,466 lakh, significantly higher than ₹519 lakh in the corresponding quarter of the previous year.

Segment-wise Revenue Analysis

Equity Developments

During the quarter, the company issued 75,86,206 equity shares at ₹145 per share (including premium of ₹135 per share) and allotted 1,02,500 equity shares at ₹87 per share under the Employee Stock Option Scheme 2024. The paid-up equity share capital increased to ₹37,471 lakh from ₹36,702 lakh in the previous quarter.

Inox Green Energy Services Limited has completed the allotment of 1,98,90,000 equity shares upon conversion of convertible warrants, marking a significant capital structure development for the renewable energy company. The allotment was approved by the company's committee on 28th January, 2026.

Warrant Conversion Details

The equity shares were allotted at Rs. 145 per share, including a premium of Rs. 135 per share, with each share carrying a face value of Rs. 10. The conversion was executed upon receipt of a conversion request from warrant holders along with payment of the balance 75% consideration.

Original Warrant Framework

The convertible warrants were originally issued following comprehensive approvals obtained in 2024. The company had initially allotted 4,48,27,582 unlisted convertible warrants on a preferential basis at Rs. 145 per warrant. The warrant issuance received necessary approvals from multiple authorities:

• Board of Directors resolution: 26th June, 2024
• Shareholders approval: 18th July, 2024
• Stock exchange approvals from BSE and NSE: 24th July, 2024
• Committee resolution for allotment: 2nd August, 2024

Warrant Cancellation and Forfeiture

Out of the warrant holder's total holding of 2,75,86,206 warrants, 1,98,90,000 were converted into equity shares. The remaining 76,96,206 warrants have been cancelled, with the upfront 25% payment received earlier being forfeited in accordance with SEBI regulations and terms of issue.

Capital Structure Impact

The allotment has resulted in a substantial increase in the company's paid-up share capital. The newly allotted equity shares rank pari passu with existing shares, carrying equal rights including dividend entitlement and voting rights.

With this conversion completed, Inox Green Energy Services Limited now has no outstanding convertible warrants, providing clarity on its capital structure. The company has informed both BSE Limited and National Stock Exchange of India Limited about this development in compliance with SEBI listing regulations.