Revenue Growth and Strategic Updates
31st January 2025 –
Noida, India: INOX Green Energy Services Limited (NSE: INOXGREEN, BSE: 543667) has reported its unaudited financial results for the third quarter and nine months ended
31st December 2024, highlighting steady revenue growth and key corporate developments.
Key Financial Highlights (Standalone)
| Particulars | Q3 FY2024-25 | Q3 FY2023-24 | YoY Change (%) | 9M FY2024-25 | 9M FY2023-24 | YoY Change (%) |
|---|
| Revenue from Operations | ₹5,134 lakh | ₹5,455 lakh | ▼5.89% | ₹14,814 lakh | ₹14,769 lakh | ▲0.30% |
| Other Income | ₹2,051 lakh | ₹201 lakh | ▲920.90% | ₹3,815 lakh | ₹1,457 lakh | ▲161.84% |
| Total Income | ₹7,185 lakh | ₹5,656 lakh | ▲27.01% | ₹18,629 lakh | ₹16,226 lakh | ▲14.81% |
| EBITDA | ₹3,372 lakh | ₹2,226 lakh | ▲51.43% | ₹8,871 lakh | ₹7,201 lakh | ▲23.22% |
| Profit After Tax (PAT) | ₹1,216 lakh | ₹292 lakh | ▲316.44% | ₹2,529 lakh | ₹1,227 lakh | ▲106.11% |
| Basic EPS (₹) | 0.32 | 0.07 | - | 0.75 | 0.29 | - |
INOX Green Energy Services witnessed a
27.01% YoY increase in total income for Q3 FY2024-25, with a
significant 316.44% rise in net profit due to a sharp increase in other income. The EBITDA margin improvement highlights the company’s focus on cost efficiency.
Key Financial Highlights (Consolidated)
| Particulars | Q3 FY2024-25 | Q3 FY2023-24 | YoY Change (%) | 9M FY2024-25 | 9M FY2023-24 | YoY Change (%) |
|---|
| Revenue from Operations | ₹6,113 lakh | ₹5,996 lakh | ▲1.96% | ₹16,717 lakh | ₹16,392 lakh | ▲1.98% |
| Other Income | ₹1,285 lakh | ₹58 lakh | ▲2116.67% | ₹2,594 lakh | ₹1,315 lakh | ▲96.88% |
| Total Income | ₹7,398 lakh | ₹6,054 lakh | ▲22.22% | ₹19,311 lakh | ₹17,707 lakh | ▲9.06% |
| EBITDA | ₹2,922 lakh | ₹2,226 lakh | ▲31.32% | ₹9,324 lakh | ₹8,546 lakh | ▲9.11% |
| Profit After Tax (PAT) | ₹581 lakh | ₹76 lakh | ▲664.47% | ₹1,283 lakh | ₹825 lakh | ▲55.52% |
| Basic EPS (₹) | 0.15 | 0.02 | - | 0.38 | 0.19 | - |
Consolidated performance remains
strong with a 22.22% YoY increase in total income and a
664.47% surge in net profit, reflecting operational efficiencies and revenue diversification.
Segmental Performance
INOX Green Energy operates primarily in three segments:
Operations & Maintenance (O&M), Power Generation, and Trading Income.
Q3 FY2024-25 Segmental Revenue Breakdown (Consolidated)
- O&M Revenue: ₹6,171 lakh (YoY ▲19.69%)
- Power Generation: ₹198 lakh (YoY ▼73.77%)
- Trading Income: NIL
The O&M segment continues to be the company’s backbone, contributing the majority of revenue. However, power generation revenue declined significantly.
Strategic Developments
- Demerger of Power Evacuation Business
- The board approved the demerger of the Power Evacuation business into INOX Renewable Solutions Limited, subject to regulatory approvals.
- Divestment of INOX Clean Energy Pvt. Ltd.
- The company divested its entire stake in INOX Clean Energy Pvt. Ltd. for ₹9,000 lakh to IGREL Renewables Limited, a related party transaction.
- Sale of Subsidiaries
- Aliento Wind Energy Pvt. Ltd., Flurry Wind Energy Pvt. Ltd., and Flutter Wind Energy Pvt. Ltd.were sold to INOX Clean Energy Pvt. Ltd., ceasing their subsidiary status.
- Re-appointment of Shri Mukesh Manglik as Whole-time Director
- Shri Mukesh Manglik was re-appointed as Whole-time Director for one year starting 19th May 2025, pending shareholder approval.
Management Commentary
Manoj Dixit, Whole-Time Director, INOX Green Energy Services Ltd., stated:
"We continue to strengthen our financial performance, with a robust EBITDA and profit growth. The successful demerger and divestment initiatives will enable us to sharpen our focus on core operations while maintaining a strong balance sheet."
Outlook and Future Prospects
- Growth in O&M Segment: Continued expansion in the wind energy maintenance business.
- Regulatory Approvals Pending: The demerger of the Power Evacuation business is awaiting regulatory nod.
- Profitability Focus: Enhanced cost efficiencies and contract renewals are expected to support future profitability.
With
strategic divestments,
business restructuring, and
operational efficiencies, INOX Green Energy Services is well-positioned for sustained long-term growth.
Conclusion
INOX Green Energy Services has delivered
strong YoY financial performance, with increased profitability and key strategic moves. Investors and stakeholders will closely watch the
finalization of the demerger and regulatory approvals for future business restructuring.