INOX Green Energy Services Valuation Multiples

INOX Green Energy Services is valued at $538M as of November 2026, a 18.8x revenue multiple. In the last fiscal year, INOX Green Energy Services revenue was $29M and INOX Green Energy Services EBITDA was $21M.

INOX Green Energy Services Overview

About INOX Green Energy Services

INOX Green Energy Services Ltd is a wind power operation and maintenance (O&M) service provider within India. It is engaged in the business of providing long-term O&M services for wind projects, specifically the provision of O&M services for wind turbine generators and common infrastructure facilities. The company generates almost all of its revenue from the sale of services.


Founded

2012

HQ

India

Employees

430

Financials (Last FY)

Revenue: $29M
EBITDA: $21M

EV

$539M

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INOX Green Energy Services Financials

INOX Green Energy Services reported last fiscal year revenue of $29M and EBITDA of $21M.

In the same fiscal year, INOX Green Energy Services generated $11M in gross profit, $21M in EBITDA, and $11M in net income.


INOX Green Energy Services P&L

In the most recent fiscal year, INOX Green Energy Services reported revenue of $29M and EBITDA of $21M.

INOX Green Energy Services is profitable as of last fiscal year, with gross margin of 40%, EBITDA margin of 72%, and net margin of 38%.

See analyst estimates for INOX Green Energy Services
Last FY202320242025202620272028
Revenue$29M$20M$22M$27M
Gross Profit$11M$9M$12M$11M
Gross Margin40%46%54%42%
EBITDA$21M$10M$11M$18M
EBITDA Margin72%50%52%68%
EBIT Margin11%11%16%12%
Net Profit$11M$593K$2M$9M
Net Margin38%3%10%32%
Net Debt$148K---

Financial data powered by Morningstar, Inc.

INOX Green Energy Services Stock Performance

INOX Green Energy Services has current market cap of $538M, and enterprise value of $539M.

Market Cap Evolution


INOX Green Energy Services' stock price is $1.28.

INOX Green Energy Services share price increased by 19.5% in the last 30 days, and decreased by 47.6% in the last year.

INOX Green Energy Services has an EPS (earnings per share) of $0.03.

See more trading valuation data for INOX Green Energy Services
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$539M$538M0.0%19.5%-26.8%-47.6%$0.03

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INOX Green Energy Services Valuation Multiples

INOX Green Energy Services trades at 18.8x EV/Revenue multiple, and 26.2x EV/EBITDA.

See NTM and 2027E valuation multiples for INOX Green Energy Services

INOX Green Energy Services Financial Valuation Multiples

As of November 8, 2026, INOX Green Energy Services has market cap of $538M and EV of $539M.

INOX Green Energy Services has a P/E ratio of 49.4x.

Last FY202320242025202620272028
EV/Revenue18.8x26.6x24.7x20.1x
EV/EBITDA26.2x53.5x47.2x29.7x
EV/EBIT178.7x248.5x154.6x169.7x
EV/Gross Profit47.6x57.5x46.1x47.4x
P/E49.4xn/m235.2x62.8x
EV/FCF96.3x(76.3x)n/m109.6x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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INOX Green Energy Services Margins & Growth Rates

INOX Green Energy Services grew revenue by 272% and EBITDA by 146% in the last fiscal year.

In the most recent fiscal year, INOX Green Energy Services reported gross margin of 40%, EBITDA margin of 72%, and net margin of 38%.

See estimated margins and future growth rates for INOX Green Energy Services

INOX Green Energy Services Margins

Last FY202420252026202720282029
Gross Margin40%54%42%13%
EBITDA Margin72%52%68%50%
EBIT Margin11%16%12%3%
Net Margin38%10%32%35%
FCF Margin20%7%18%6%

INOX Green Energy Services Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth272%7%23%225%
Gross Profit Growth-25%(3%)(2%)
EBITDA Growth146%13%59%137%
EBIT Growth-61%(9%)(6%)
Net Profit Growth245%285%274%261%
FCF Growth-(121%)239%12%

Data powered by FactSet, Inc. and Morningstar, Inc.

INOX Green Energy Services Operational KPIs

INOX Green Energy Services' revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.0M for the same period.

INOX Green Energy Services' Rule of 40 is 275% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

INOX Green Energy Services' Rule of X is 613% (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Access forward-looking KPIs for INOX Green Energy Services
Last FY202320242025202620272028
Rule of 40275%---
Bessemer Rule of X613%---
Revenue per Employee$0.1M---
Opex per Employee$0.0M---
Opex to Revenue29%36%38%31%

Data powered by FactSet, Inc. and Morningstar, Inc.

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INOX Green Energy Services Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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INOX Green Energy Services VC Funding History

Before going public, INOX Green Energy Services raised $126M in total equity funding, across 1 round.


INOX Green Energy Services Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Jun-24Undisclosed stageSamena Capital$126M-The board of Inox Green Energy Services approved a preferential issue of up to INR 1,050 crore on 26 June 2024, and Samena Capital's vehicle Samena Green Limited was named in the shareholder notice as the largest non-promoter participant. Samena Green was allocated up to 72,46,376 equity shares at INR 138 each for INR 100 crore and up to 68,96,551 convertible warrants at INR 145 each for a further INR 100 crore, giving it a total commitment of INR 200 crore. The promoter group company Inox Leasing and Finance subscribed for INR 400 crore of convertible warrants, and the remaining allocations went to institutional investors including Bandhan and Mahindra Manulife mutual funds, Universal Golden Fund, Forbes EMF, the investor Ashish Kacholia and Capri Global Holdings. Warrant subscribers paid 25 per cent of the issue price upfront with the balance due on conversion. The company allotted 2.90 crore equity shares at INR 138 and 4.48 crore convertible warrants at INR 145 on 2 August 2024. Samena records the position in its co-investment portfolio through the vehicle Samena Breeze L.P. (Green) with a 2024 vintage. Inox Green Energy Services provides long-term operations and maintenance services for wind farms in India, servicing wind turbine generators and balance-of-plant infrastructure under recurring fee contracts for independent power producers, utilities, corporate buyers and retail asset owners. The company was incorporated in 2012, is headquartered in Noida, listed on the Indian exchanges in November 2022 and is a subsidiary of the turbine manufacturer Inox Wind within the InoxGFL Group, in which Samena was already an investor.

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About INOX Green Energy Services

When was INOX Green Energy Services founded?INOX Green Energy Services was founded in 2012.
Where is INOX Green Energy Services headquartered?INOX Green Energy Services is headquartered in India.
How many employees does INOX Green Energy Services have?As of today, INOX Green Energy Services has over 430 employees.
Is INOX Green Energy Services publicly listed?Yes, INOX Green Energy Services is a public company listed on Bombay Stock Exchange.
What is the stock symbol of INOX Green Energy Services?INOX Green Energy Services trades under 543667 ticker.
When did INOX Green Energy Services go public?INOX Green Energy Services went public in 2022.
Who are competitors of INOX Green Energy Services?INOX Green Energy Services main competitors include
What is the current market cap of INOX Green Energy Services?INOX Green Energy Services' current market cap is $538M.
What is the current revenue of INOX Green Energy Services?INOX Green Energy Services' last fiscal year revenue is $29M.
What is the current revenue growth of INOX Green Energy Services?INOX Green Energy Services revenue growth (vs. last FY) is 272%.
What is the current EV/Revenue multiple of INOX Green Energy Services?Current revenue multiple of INOX Green Energy Services is 18.8x.
Is INOX Green Energy Services profitable?No, INOX Green Energy Services is not profitable.
How many companies INOX Green Energy Services has acquired to date?INOX Green Energy Services hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies INOX Green Energy Services has invested to date?INOX Green Energy Services hasn't invested in any companies yet (or none have been disclosed publicly).

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