INOX India Ltd
BSE:544046
INOX India Ltd
INOX India Ltd., a name that resonates with precision engineering and innovative solutions, stands tall in the cryogenic storage and distribution industry. Founded amidst a burgeoning demand for innovative cryogenic solutions, the company carved out a niche by focusing on manufacturing equipment that safely and efficiently stores gases at ultra-low temperatures. From its inception, INOX India recognized the critical need to support various sectors including industrial gas, LNG, and the burgeoning healthcare market. These sectors rely heavily on cryogenic technology for storing and transporting gases like nitrogen, oxygen, argon, and liquefied natural gas. By mastering the complexities of low-temperature behaviors and ensuring top-notch craftsmanship, INOX India supplies equipment that is integral to the operations of companies around the globe.
The company thrives by not only manufacturing cryogenic tanks, semi-trailers, and storage vessels but also by offering a suite of services that enhance their products' lifecycle. Its specialized engineering team collaborates closely with clients to tailor-make solutions that fit specific industrial needs, thereby setting INOX India apart in a competitive landscape. As industries evolve, the company continually invests in research and development to keep pace with the technological advancements and environmental considerations shaping the future of energy storage and consumption. This adaptability not only ensures sustained profitability but also positions it as a leader in a field critical to modern infrastructure and energy solutions, driving substantial growth within its operative verticals. Through strategic client partnerships and an unwavering commitment to excellence, INOX India Ltd. continues to cement its reputation as a trusted leader in the global cryogenics market.
INOX India Ltd., a name that resonates with precision engineering and innovative solutions, stands tall in the cryogenic storage and distribution industry. Founded amidst a burgeoning demand for innovative cryogenic solutions, the company carved out a niche by focusing on manufacturing equipment that safely and efficiently stores gases at ultra-low temperatures. From its inception, INOX India recognized the critical need to support various sectors including industrial gas, LNG, and the burgeoning healthcare market. These sectors rely heavily on cryogenic technology for storing and transporting gases like nitrogen, oxygen, argon, and liquefied natural gas. By mastering the complexities of low-temperature behaviors and ensuring top-notch craftsmanship, INOX India supplies equipment that is integral to the operations of companies around the globe.
The company thrives by not only manufacturing cryogenic tanks, semi-trailers, and storage vessels but also by offering a suite of services that enhance their products' lifecycle. Its specialized engineering team collaborates closely with clients to tailor-make solutions that fit specific industrial needs, thereby setting INOX India apart in a competitive landscape. As industries evolve, the company continually invests in research and development to keep pace with the technological advancements and environmental considerations shaping the future of energy storage and consumption. This adaptability not only ensures sustained profitability but also positions it as a leader in a field critical to modern infrastructure and energy solutions, driving substantial growth within its operative verticals. Through strategic client partnerships and an unwavering commitment to excellence, INOX India Ltd. continues to cement its reputation as a trusted leader in the global cryogenics market.
Record Revenue & Exports: INOX India delivered its highest-ever quarterly revenue of INR 436 crores and export revenue of INR 271 crores, up 27% YoY.
Profitability Growth: Adjusted EBITDA hit an all-time high of INR 102 crores, up 34% YoY, and adjusted PAT reached INR 68 crores, up 32% YoY.
Order Book & Visibility: Order backlog as of December 2025 stood at INR 1,457 crores, with 63% from exports, providing strong revenue visibility.
LNG & Industrial Gas Momentum: Robust demand and market share in LNG and industrial gases, including milestone orders in marine, transportation, and scientific sectors.
Guidance Maintained: Management reiterated 18–20% growth guidance for FY '27, citing a healthy pipeline but keeping the outlook conservative due to lumpy orders.
Margins Stable Despite Volatility: Gross margin fluctuations of +/-3% are considered normal, with commodity price impact largely mitigated by contractual pass-through mechanisms.
Beverage Keg Progress: Strategic approvals from major breweries like Heineken and Molson Coors position the keg business for international growth.
Capacity Utilization: Main plants running at 85–90% utilization; keg plant lower but expected to ramp up with more orders.
