Inox Green Energy shares tumble 10% today; here is why

Shares of Inox Green Energy Services Ltd slumped 9.95 per cent in Tuesday's trade to hit a low of Rs 225.80. As the session progressed, the stock recovered partially to trade 5.34 per cent lower at Rs 237.35.

The sharp drop followed reports that "Inox Green loses grid access for 300 MW wind project as regulator backs revocation." Both BSE and NSE have sought clarification from the company and a reply was awaited at the time of publishing.

Inox Green posted a strong set of numbers for the September quarter (Q2 FY26). For the quarter, total income surged 101 per cent year-on-year (YoY) to Rs 129.5 crore, compared with Rs 64.4 crore in Q2 FY25. EBITDA rose 52 per cent to Rs 52.2 crore from Rs 34.4 crore a year ago.

Profit after tax (PAT) climbed to Rs 28.1 crore, up 363 per cent from Rs 6.1 crore in the corresponding quarter last year. Cash PAT more than doubled to Rs 50.9 crore from Rs 23.1 crore, marking a 121 per cent increase.

Operationally, the company reported an improvement in machine availability across its portfolio, reaching 96.3 per cent in Q2 FY26, reflecting better asset performance and service efficiency.

The company has completed investments to acquire 6.5 GW of wind O&M assets, which will take its total O&M portfolio to about 12.5 GW.

In another key development, the scheme for demerger of the substation business from Inox Green and its merger into Inox Renewable Solutions has received approval from shareholders and creditors. The company noted that the restructuring will eliminate depreciation related to that asset base, thereby boosting profitability going forward.

On BSE, about 2.26 lakh shares were last seen changing hands today, higher than the two-week average volume of 1.13 lakh shares. Turnover on the counter stood at Rs 5.43 crore, valuing the company at a market capitalisation (m-cap) of Rs 8,731.33 crore.

As of September 2025, promoters held a 55.97 per cent stake in Inox Green.