Q3 2026 Inox Green Energy Services Ltd Earnings Call Transcript
Key Points
- INOX Green Energy Services Ltd (BOM:543667) reported a significant increase in total income, up by 51% year-on-year for Q3 FY26.
- The company achieved an EBITDA of INR53 crores, marking an 80% increase year-on-year.
- Profit before tax surged by 261% year-on-year, while profit after tax increased by 375% year-on-year.
- INOX Green's portfolio reached 13.3 gigawatts, with a diversified mix of wind and solar assets across India.
- The company is on track to become India's largest renewable O&M company, with strong growth prospects and strategic acquisitions.
- There were delays in site readiness from some customers, impacting wind turbine offtake and causing execution challenges.
- The company has shifted its guidance from megawattage to financial numbers due to complexities and variability in project execution.
- Working capital days are currently high, around 200 to 210 days, with a target to reduce to 120-150 days by FY27.
- Realizations have dropped both quarter-on-quarter and year-on-year, attributed to disruptions in component supplies and project execution challenges.
- The demerger of the substation business is still pending final approval from NCLT, causing uncertainty in financial adjustments.
Ladies and gentlemen, good day, and welcome to Inox Wind and Inox Green Q3 FY26 earnings conference call hosted by JM Financial Institutional Securities Limited. This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions and expectations of the company as on date of this call. These statements are not guarantee for future performance and involves risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that this conference is being recorded.
I now hand over the conference to Mr. Sudhanshu Bansal from JM Financial. Thank you, and over to you, sir.
Yeah. Thank you, Pari. Good evening, everybody. On behalf of JM Financial, I welcome you all to the third -- 3Q FY26 earning call of Inox Wind and Inox Green Energy Services. For today's call, we have with us the leadership team of both the companies, led by Mr. Kailash Tarachandani, Group CEO, Renewal Business; Mr. Akhil Jindal, Group CFO, INOXGFL
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