Inox Green Energy Services Ltd Share Price – NSE /  BSE

Miscellaneous, Small Cap

Aiming to be one of the fastest growing solar platforms in the country, Inox Solar is targeting an initial capacity of 5 GW of solar modules and 2.5 GW of solar cell manufacturing capacity by 2026, at an outlined capex of Rs 1,500 crore. The company will also provide turnkey EPC solutions, including land acquisition & power evacuation, through its group company Inox Renewable Solutions (earlier known as Resco Global Wind Services). Additionally, it will offer post commissioning O&M services through another group company Inox Green Energy Services. Inox Solar's first solar module manufacturing unit with initial capacity of 1.2 GW in Gujarat is expected to be operational by March 2025. The facility will manufacture TopCon modules.

Devansh Jain, executive director of INOXGFL Group, said With Inox Solar, we proudly mark a new chapter in INOXGFL Group's journey, advancing India's renewable energy aspirations. This foray into solar energy complements our existing strengths, making us a fully integrated player in the energy transition ecosystem. Our vision is to deliver comprehensive renewable solutions, supported by world-class manufacturing capabilities and turnkey services. By targeting 5 GW of solar module and 2.5 GW solar cell capacity by 2026, we aim to drive energy independence and empower our stakeholders. Together, we are not just contributing to greening India but also redefining the benchmarks of excellence in the renewable sector.

INOXGFL Group is a forerunner in diversified business segments comprising fluoropolymer, fluorochemicals, battery chemicals, wind turbines and renewables. It is strongly positioned as one of the most deeply integrated Groups in the green ecosystem. Comprising four listed entities - Gujarat Fluorochemicals (GFL), Inox Wind, Inox Green Energy Services, and Inox Wind Energy , the Group commands a market capitalization of ~ US$ 12 bn.

On a consolidated basis, net profit of Inox Green Energy Services rose 10.75% to Rs 6.39 crore while net sales rose 16.44% to Rs 55.18 crore in Q2 September 2024 over Q2 September 2023.

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Inox Wind Ltd, AGI Greenpac Ltd, Morepen Laboratories Ltd and Ami Organics Ltd are among the other gainers in the BSE's 'A' group today, 02 December 2024.

Inox Green Energy Services Ltd spiked 12.28% to Rs 166.45 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 2.03 lakh shares were traded on the counter so far as against the average daily volumes of 1.4 lakh shares in the past one month.

Inox Wind Ltd surged 8.97% to Rs 208.3. The stock was the second biggest gainer in 'A' group. On the BSE, 12.66 lakh shares were traded on the counter so far as against the average daily volumes of 4.1 lakh shares in the past one month.

AGI Greenpac Ltd soared 6.54% to Rs 1022.75. The stock was the third biggest gainer in 'A' group. On the BSE, 26825 shares were traded on the counter so far as against the average daily volumes of 11167 shares in the past one month.

Morepen Laboratories Ltd advanced 6.22% to Rs 83.85. The stock was the fourth biggest gainer in 'A' group. On the BSE, 7.49 lakh shares were traded on the counter so far as against the average daily volumes of 7.02 lakh shares in the past one month.

Ami Organics Ltd spurt 6.07% to Rs 2274.05. The stock was the fifth biggest gainer in 'A' group. On the BSE, 22808 shares were traded on the counter so far as against the average daily volumes of 14314 shares in the past one month.

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Inox Green Energy Services has completed the divestment/sale of entire equity shares of Rs. 10 each held by the Company (along with shares held by its nominee) in its wholly owned subsidiary namely Nani Virani Wind Energy (NVWEPL) to IGREL Renewables, a related party controlled and owned by significant beneficial owners of the Company, at a face value of Rs. 10 each.

Consequent upon the said disinvestment/sale, NVWEPL ceases to be a subsidiary of the Company w.e.f. 29th November, 2024.

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Net profit of Inox Green Energy Services rose 10.75% to Rs 6.39 crore in the quarter ended September 2024 as against Rs 5.77 crore during the previous quarter ended September 2023. Sales rose 16.44% to Rs 55.18 crore in the quarter ended September 2024 as against Rs 47.39 crore during the previous quarter ended September 2023.

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