Inox India Ltd
Incorporated in 1976, Inox India Limited offers solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions[1]Inox India specializes in supplying cryogenic equipment, particularly tanks. The company offers comprehensive solutions for equipment and systems operating in cryogenic conditions.[2]
- Market Cap ₹ 17,742 Cr.
- Current Price ₹ 1,955
- High / Low ₹ 2,120 / 1,031
- Stock P/E 70.8
- Book Value ₹ 125
- Dividend Yield 0.10 %
- ROCE 32.4 %
- ROE 25.0 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 21.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.1%
- Company has been maintaining a healthy dividend payout of 23.0%
Cons
- Stock is trading at 15.6 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 639 | 640 | 587 | 777 | 950 | 1,087 | 1,296 | 1,557 | 1,587 | |
| 495 | 508 | 452 | 611 | 744 | 850 | 1,010 | 1,222 | 1,256 | |
| Operating Profit | 144 | 132 | 135 | 165 | 206 | 238 | 286 | 335 | 331 |
| OPM % | 22% | 21% | 23% | 21% | 22% | 22% | 22% | 22% | 21% |
| -190 | 20 | 15 | 21 | 19 | 30 | 46 | 41 | 40 | |
| Interest | 27 | 25 | 7 | 2 | 3 | 5 | 8 | 9 | 10 |
| Depreciation | 9 | 11 | 11 | 11 | 13 | 17 | 24 | 31 | 32 |
| Profit before tax | -83 | 116 | 132 | 173 | 208 | 246 | 300 | 337 | 330 |
| Tax % | -71% | 39% | 27% | 26% | 25% | 24% | 25% | 25% | |
| -24 | 71 | 97 | 128 | 156 | 186 | 225 | 252 | 248 | |
| EPS in Rs | -26.37 | 77.83 | 107.05 | 14.14 | 17.21 | 20.51 | 24.80 | 27.81 | 27.36 |
| Dividend Payout % | 0% | 0% | 0% | 11% | 67% | 54% | 8% | 7% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 18% |
| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 18% |
| TTM: | 11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 71% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 27% |
| Last Year: | 25% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 18 | 18 | 18 | 18 | 18 |
| Reserves | 232 | 303 | 399 | 516 | 567 | 658 | 883 | 1,121 |
| 284 | 145 | 60 | 43 | 6 | 13 | 41 | 75 | |
| 221 | 197 | 252 | 343 | 562 | 555 | 702 | 787 | |
| Total Liabilities | 747 | 654 | 720 | 920 | 1,154 | 1,244 | 1,644 | 2,000 |
| 93 | 104 | 99 | 130 | 161 | 251 | 355 | 375 | |
| CWIP | 0 | 0 | 2 | 2 | 0 | 5 | 4 | 0 |
| Investments | 119 | 125 | 69 | 356 | 293 | 291 | 312 | 341 |
| 535 | 425 | 550 | 432 | 699 | 697 | 973 | 1,283 | |
| Total Assets | 747 | 654 | 720 | 920 | 1,154 | 1,244 | 1,644 | 2,000 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 59 | 164 | 226 | 94 | 169 | 122 | 106 | 92 | |
| -22 | -2 | -160 | -70 | -10 | -26 | -124 | -88 | |
| -5 | -167 | -95 | -25 | -153 | -102 | 19 | 7 | |
| Net Cash Flow | 33 | -5 | -28 | -0 | 6 | -6 | 1 | 12 |
| Free Cash Flow | 52 | 149 | 219 | 53 | 123 | 32 | -20 | 37 |
| CFO/OP | 45% | 129% | 188% | 71% | 108% | 77% | 59% | 51% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 87 | 81 | 69 | 37 | 50 | 58 | 72 | 76 |
| Inventory Days | 330 | 208 | 217 | 345 | 352 | 324 | 300 | 249 |
| Days Payable | 33 | 19 | 27 | 43 | 52 | 96 | 85 | 82 |
| Cash Conversion Cycle | 384 | 270 | 260 | 339 | 350 | 286 | 286 | 244 |
| Working Capital Days | -16 | 21 | -1 | 22 | 34 | 45 | 65 | 92 |
| ROCE % | 28% | 30% | 33% | 36% | 39% | 37% | 32% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Order Backlog ₹ Crore |
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| Disposable Cylinders Sold units |
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| Export Revenue Share % of total revenue |
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| LNG Segment Revenue Share % of total revenue |
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| Beverage Keg Dispatches units |
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| Order Inflow ₹ Crore |
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| LNG Fueling Stations in India count (cumulative) |
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| LNG Semi-trailers on Indian roads units (cumulative) |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q1FY27 results conference call held on 4 August 2026.
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Announcement under Regulation 30 (LODR)-Investor Presentation
- Investor Presentation for Earnings Call scheduled on Tuesday, 4th August, 2026 at 11:00 a.m.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Q1 FY27 revenue ₹382 Cr, PAT ₹61 Cr; order inflow ₹532 Cr, order book ₹1,686 Cr.
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Financial Results For The Quarter Ended June 30, 2026
- INOX India announced Q1 FY27 results: revenue ₹382 crore, PAT ₹61 crore, order inflow ₹532 crore.
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Board Meeting Outcome for Outcome Of Board Meeting Held On 03.08.2026
- Q1 FY27 revenue rose 8.3% to ₹382 Cr; PAT ₹61 Cr; order inflow ₹532 Cr.
Annual reports
Concalls
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Aug 2026TranscriptPPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT
Business Divisons:[1][2] [3]
a) Industrial Gas (54% in FY26 vs 61% in FY25):
The company manufactures and installs a comprehensive range of cryogenic storage, transportation, and regasification systems for industrial gases such as oxygen, nitrogen, argon, hydrogen, carbon dioxide, and helium. Its offerings include storage tanks, transport tanks, microbulk units, vaporisers, CryoBio tanks, and storage and regasification equipment, with product capacities ranging from 1-litre portable dewars to 1.5 Mn-litre stationary tanks and transport tanks of up to 60,000 litres.
b) LNG (28% in FY26 vs 17% in FY25):
The company designs and manufactures equipment across the LNG value chain, offering solutions for LNG storage, distribution, transportation, and regasification. Its product portfolio includes static storage tanks with capacities of up to 1 Mn litres, transport trailers, satellite regasification systems for industrial applications, marine fuel gas systems, LCNG fuelling stations, vehicle-mounted LNG fuel tanks, LNG infrastructure for automotive applications, and modular mini-LNG terminals.
c) Cryo Scientific (14% in FY26 vs 17% in FY25):
The company designs and delivers advanced cryogenic equipment and turnkey solutions for technology-intensive scientific and industrial applications. Its portfolio includes cryogenic systems for satellite and launch facilities, cryogenic propulsion and research, MRI cryostats, fusion and superconductivity applications, and liquid hydrogen and helium systems.
d) Other (4% in FY26 vs 5% in FY25):
The company manufactures and supplies premium returnable beverage kegs through a collaboration with the Supermonte Group, Italy.