Inox Green Shares Rose ~5% After Signing Agreement for O&M Services

On May 19, 2025, Inox Green Energy share price rose ~5%, reaching a day high of ₹157.85 at 12:50 PM, after opening at ₹148.90 on BSE. The gain in Inox Green Energy shares came after the company announced that it had entered into agreements to provide O&M services for 285 MWp of solar projects of two of India’s leading renewable energy companies on May 19.

The company further stated that the projects are located across multiple sites, which are owned by the said companies. Inox Green’s solar O&M portfolio has grown to ~ 1 GW within a month of entering into this segment after the signing of the agreement.

Management Take on Signing of Agreements

Mr. SK Mathu Sudhana, CEO of Inox Green, remarked, "We continue to rapidly add solar assets to our portfolio under O&M, and we are delighted to announce that we have secured an additional 285 MWp across multiple sites. As developers across India continue to add multi-gigawatt solar capacities every month, we believe that through our expertise, credentials and tailor-made solutions for solar project O&M, we are well placedto  grow rapidly in this segment.”

Previous Orders Secured by Inox Green

In April 2025, Inox Green Energy Services signed a landmark agreement to deliver operations and maintenance (O&M) services for 675 MWp of solar power projects owned by one of India’s leading renewable energy companies. These projects are spread across multiple states on sites owned by the client. This strategic move marks Inox Green’s foray into the solar O&M segment—an area poised for exponential growth over the coming decade. The partnership not only expands the company’s portfolio beyond wind energy but also positions it to capitalise on the rising demand for reliable and efficient solar infrastructure management.

Also Read: Best Solar Energy Stocks for May 2025

Inox Green Q3FY25 Financial Highlights

For Q3FY25, on a consolidated basis, Inox Green reported a revenue of ₹74 crore, marking a 22% year-on-year increase compared to ₹61 crore in Q3 FY 2024. EBITDA for the quarter stood at ₹29 crore, up 23% from ₹24 crore in the corresponding period last year. Cash Profit After Tax (PAT) rose significantly to ₹23 crore, reflecting a 76% year-on-year growth from ₹13 crore in Q3 FY 2024.

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