INOXGFL Aims to Make Inox Green India’s Largest RE O&M Firm. Here's Why

Buoyed by the expanding portfolio of Inox Green, the Operations & Maintenance (O&M) arm of the Inox Group, the conglomerate has set its sights on making the company India’s largest renewable energy O&M provider. The confidence comes from the company’s growing presence across the sector and its accelerating business momentum.

Inox Green has evolved from being a pure-play wind O&M operator to a multi-technology O&M expert, covering wind, solar, and hybrid renewable projects. The company currently manages a portfolio of12.5 GW of renewable O&M assets, including 10 GW of wind and 2.5 GW of solar installations.

“Inox Green has a 12.5 GW renewable portfolio, directly or through investments made for multi-gigawatt portfolio acquisition. The group IPP, with ambitious plans of setting up multi-gigawatt renewable capacity annually, provides strong additional visibility. With the company’s organic and inorganic growth prospects, we believe Inox Green is on track to become India’s largest renewable O&M player,” said Sanjeev Agarwal, CEO, Inox Wind.

Acquired Assets 

The portfolio also includes 6.5 GW of operational wind assets acquired through investments in two companies. Backed by over a decade of operating experience, the pure-play renewable O&M provider continues to strengthen its foothold in the market.

The company said it has strong relationships with renewable asset owners, including Public Sector Utilities (PSUs), Independent Power Producers (IPPs), and private investors. It also benefits from the financial backing of the Inox Group and enjoys stable, long-term O&M revenue streams, complemented by value-added services.

According to company disclosures, Inox Green manages wind + solar hybrid assets in Tamil Nadu, Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh, while its pure solar O&M assets are spread across Andhra Pradesh, Kerala, Uttar Pradesh, Uttarakhand, and Telangana.

Financials

In Q2 FY26, the company reported a total income of ₹129.5 crore, marking a 101% year-on-year growth. Net profit stood at ₹28.1 crore. The company expects higher growth visibility in the coming years, led by business reforms and expansion initiatives.

SK Mathu Sudhana, CEO, Inox Green, stated that with financials expected to fully consolidate into Inox Green’s books in FY27—post statutory approvals—profitability is expected to improve significantly.

“The scheme of demerger of the substation business from Inox Green and its merger into Inox Renewable Solutions has already received approval from shareholders and creditors. Once approved by NCLT, a gross block of around ₹1,000 crore will be removed from Inox Green’s balance sheet, reducing annual depreciation by ₹50–55 crore and thereby improving profitability. This will also lead to a marked improvement in ROE and ROCE,” he said.