Inox Renewable Solutions Limited
- Unlisted share
- Energy & Power
- ISIN INE0CJZ01014
At a glance
Sales
FY26
₹580 Cr
+149%on FY25What the company earned from its customers in the year.
Loss for the year
FY26
₹-61 Cr
The company spent more than it earned in the year.
Net worth
FY26
₹1,405 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Inox Renewable Solutions Limited
- ISIN
- INE0CJZ01014
- Sector
- Energy & Power
- Type of share
- Unlisted equity share
- Indicative price per share
- On request
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Inox Renewable Solutions Limited
Inox Renewable Solutions is the project-building arm of the INOXGFL group's wind business: it finds and develops sites, builds the supporting infrastructure and erects and commissions the wind turbines that its parent Inox Wind supplies. It was set up in January 2020 as Resco Global Wind Services and took its present name in December 2024. Inox Wind Limited is the promoter and, with its group, held 88.84% at 31 March 2026; under a scheme effective 4 May 2026 the company also took over the power evacuation business of Inox Green Energy Services and is seeking to list its shares.
Written from: inoxrenewables.com, inoxrenewables.com, crisilratings.com
Listing status. Not listed when the 2025-26 annual report was issued. Following the demerger scheme (NCLT order 13 March 2026, effective 4 May 2026) the company says it is in the process of listing its equity shares on NSE and BSE; no listing date was found. Its debentures were listed on BSE until they were repaid in March 2026. Inox Renewable Solutions annual report 2025-26
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Energy & Power
- ISIN
- INE0CJZ01014
- Headquarters
- Vadodara, Gujarat (registered office); corporate office in Noida, Uttar Pradesh
- Parent / promoter
- Inox Wind Limited (promoter; promoter and promoter group held 88.84%), part of the INOXGFL group
- Key people
- Whole-time Director: Nitesh Kumar; CFO: Shivam Tandon; Company Secretary: Heera Lal
- Permanent employees
- 204 people
- Face value per equity share
- ₹10
- Equity shares outstanding
- 16,19,41,256 shares
- Website
- inoxrenewables.com
Read from: Inox Renewable Solutions annual report 2025-26, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Profit margincalculated
-10.5%
For every ₹100 of sales, the company lost ₹10.5.
Return on equitycalculated
-4.3%
For every ₹100 of the owners' money, the company lost ₹4.3 in the year.
Debt to equitycalculated
0.86×
The company has borrowed ₹0.86 for every ₹1 of its owners' money.
- Indicative price
- On request
- No. of shares
- 16,19,41,256
- EPS
- ₹-3.77
- Book value per share
- ₹86.76
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
Inox Renewable Solutions Limited (formerly Resco Global Wind Services Private Limited). As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY25 to FY26: ₹233 Cr to ₹580 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY25 to FY26: ₹1.77 Cr to ₹-61 Cr.
| Particulars | FY25 | FY26Latest |
|---|---|---|
| Revenue from operations | 233.34 | 580.41▲149% |
| Other income (rounded, from board's report) | 81.95 | 14.67▼82% |
| Total income | 315.28 | 595.08▲89% |
| EBITDA from continuing operations, before exceptional items (board's report) | 190.82 | 153.43▼20% |
| Depreciation and amortisation expense | n/a | 145.46 |
| Finance costs | 60.3 | 68.96▲14% |
| Profit / (loss) before tax | 1.77 | -61▼3540% |
| Profit / (loss) for the year | 1.77 | -61▼3540% |
| Earnings / (loss) per share, basic and diluted (₹) (₹) | 0.12 | -3.77▼3242% |
Rupees crore unless marked, consolidated. The change shown is the latest year against the year before. Read from: Inox Renewable Solutions annual report 2025-26.
Credit rating. Crisil A/Positive (long term) and Crisil A1 (short term) on bank facilities; Crisil AA+ (CE)/Stable on debentures guaranteed by Gujarat Fluorochemicals; reaffirmed 28 January 2026 (28 January 2026) Crisil Ratings rationale, 28 January 2026
Ownership
Shareholding pattern
Who owns the company
As of 31 March 2026
88.8%Promoter and promoter group (Inox Wind Limited and nominees)
- Largest holder
- 88.8%
- Top 3 together
- 97.2%
- Holders named
- 7
- Promoter and promoter group (Inox Wind Limited and nominees)88.84%
- Bodies corporate6.04%
- Individuals2.34%
- Alternate investment funds2.09%
- Limited liability partnerships0.29%
- Foreign corporate0.23%
- Hindu undivided families0.16%
- Total99.99%
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| 10 Sept 20241,45,69,288 shares allotted at ₹267 each to the parent Inox Wind in place of repaying its inter-corporate deposit and interest, about ₹389 crore; no cash was received. | Preferential allotment (conversion of loan) | Equity shares | ₹267 | ₹389 Cr |
| 2024-091,31,10,468 shares of ₹10 allotted on 6, 10 and 11 September 2024 at ₹267 each to non-promoter investors for cash, raising about ₹350.05 crore. | Preferential allotment | Equity shares | ₹267 | ₹350 Cr |
Leadership
Management
Nitesh Kumar
Whole-time Director
Shivam Tandon
Chief Financial Officer
Heera Lal
Company Secretary & Compliance Officer
Mukesh Manglik
Director
Venkatesh Sonti
Director
Sanjeev Jain
Independent Director
Bindu Saxena
Independent Director
Brij Mohan Bansal
Independent Director
Corporate calendar
Events
- 24 Sept 2026AGMAnnual general meeting called for 24 September 2026 to adopt the 2025-26 accountsOpen
- 1 Aug 2026DemergerRecord date for Inox Green Energy Services shareholders to receive 122 company shares for every 1,000 heldOpen
- 4 May 2026DemergerScheme transferring the power evacuation business of Inox Green Energy Services to the company took effect (appointed date 1 October 2025)Open
- 17 Mar 2026Debenture redemptionListed 10.75% debentures were repaid in full and were delisted from BSE on 30 March 2026Open
- 13 Mar 2026Regulator orderNCLT Ahmedabad approved the scheme of arrangement with Inox Green Energy ServicesOpen
- 28 Jan 2026RatingCrisil reaffirmed A/Positive/A1 and AA+ (CE)/StableOpen
- 4 Dec 2024Name changeName changed from Resco Global Wind Services Limited to Inox Renewable Solutions LimitedOpen
- 10 Sept 2024Share issuePreferential allotments at ₹267 per share to outside investors and to Inox WindOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Inox Renewable Solutions Limited on WhatsAppIs the price shown for Inox Renewable Solutions Limited final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Inox Renewable Solutions Limited shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Inox Renewable Solutions Limited shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
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GrowFast is not affiliated with, sponsored by or endorsed by Inox Renewable Solutions Limited. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.