Inox Green Energy signed O&M agreements for 639 MWp of solar projects, pushing its total renewable O&M portfolio past 5 GW. The stock hit a 5-month high, gaining over 23% this week, with strong recent returns and financials.
The share price of Inox Green Energy Services was in focus on Wednesday, May 21, particularly due to the signing of an operations and maintenance (O&M) agreement for a solar project. The stock has jumped over 23% this week following the announcement. As of 10:32 AM IST, Inox Green Energy Services Ltd was trading at ₹182.32, up by 0.82%, marking a 5-month high. The intraday high has been ₹183.5, while the low has been ₹175.5. Over the past month, the stock has delivered a return of approximately 33.21%, with a one-year return of 30.36%.
Inox Green Energy Services Ltd, a prominent Indian renewables operations and maintenance ("O&M") service provider, today announced a significant expansion of its solar O&M portfolio. The company has entered into agreements to provide O&M services for 639 MWp of solar projects owned by a leading renewable energy company in India, which is backed by a major energy multinational corporation. These projects are spread across multiple sites.
This strategic addition elevates Inox Green's solar O&M portfolio to approximately 1.6 GW, demonstrating the company's rapid growth in this sector. Furthermore, this achievement pushes the company's total renewable O&M portfolio beyond 5 GW.
On this occasion, Mr. SK Mathu Sudhana, CEO of Inox Green, remarked, "We are delighted to announce that we have secured another 639 MWp of solar O&M agreements, as we continue to march ahead in this segment. With this, Inox Green has achieved an important milestone crossing 5 GW of renewable assets in our O&M portfolio. We are confident of continuing our portfolio ramp up and scale newer highs both operationally and financially in the coming years.”
For the quarter ended December 2024, Inox Green reported a net profit of ₹5.19 crore on a total income of ₹61.13 crore. For the fiscal year 2024, the total revenue was ₹224.26 crore, and the net profit was ₹27.67 crore.
Inox Green Energy Services Limited is a prominent renewable power operations and maintenance service provider in India, currently managing over 4 GW of renewable assets. The company specialises in providing long-term O&M services for renewable energy projects. As part of the INOXGFL Group and a subsidiary of Inox Wind, Inox Green is India's only listed pure-play renewable O&M services company. It boasts a strong and diverse portfolio and a proven track record of more than a decade, supported by reliable cash flows from long-term O&M contracts. Its clientele includes major Independent Power Producers (IPPs), Public Sector Undertakings (PSUs), and numerous retail customers.
Disclaimer: The article is for informational purposes only and not investment advice.
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