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 ₹ 10,755 Cr.
- Current Price ₹ 1,185
- High / Low ₹ 1,507 / 884
- Stock P/E 48.8
- Book Value ₹ 96.3
- Dividend Yield 0.17 %
- ROCE 38.0 %
- ROE 29.0 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 22.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.2%
Cons
- Stock is trading at 12.3 times its book value
- Working capital days have increased from 75.5 days to 147 days
* 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.
Peer comparison
Sector: Packaging Industry: Packaging
Part of Nifty 500 BSE SmallCap BSE Allcap BSE Industrials Nifty MidSmallcap 400
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 650 | 649 | 595 | 783 | 966 | 1,131 | 1,306 | |
| 506 | 516 | 459 | 615 | 761 | 879 | 1,022 | |
| Operating Profit | 144 | 133 | 136 | 168 | 205 | 252 | 284 |
| OPM % | 22% | 20% | 23% | 21% | 21% | 22% | 22% |
| 28 | 48 | 15 | 21 | 19 | 30 | 48 | |
| Interest | 27 | 26 | 7 | 2 | 4 | 6 | 9 |
| Depreciation | 9 | 12 | 12 | 12 | 14 | 18 | 25 |
| Profit before tax | 135 | 144 | 133 | 174 | 207 | 258 | 299 |
| Tax % | -44% | 32% | 27% | 25% | 25% | 24% | 24% |
| 193 | 97 | 97 | 130 | 155 | 196 | 226 | |
| EPS in Rs | 213.05 | 107.23 | 107.40 | 14.38 | 17.05 | 21.59 | 24.90 |
| Dividend Payout % | 0% | 0% | 0% | 10% | 67% | 0% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 19% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 20% |
| TTM: | 13% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 30% |
| 3 Years: | 30% |
| Last Year: | 29% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 18 | 18 | 18 | 18 |
| Reserves | 201 | 270 | 363 | 484 | 531 | 631 | 856 |
| 284 | 145 | 60 | 55 | 9 | 16 | 43 | |
| 231 | 205 | 259 | 340 | 589 | 534 | 738 | |
| Total Liabilities | 725 | 629 | 691 | 897 | 1,148 | 1,199 | 1,655 |
| 94 | 110 | 102 | 134 | 164 | 255 | 359 | |
| CWIP | 0 | 0 | 2 | 2 | 0 | 5 | 4 |
| Investments | 81 | 80 | 25 | 312 | 249 | 247 | 267 |
| 549 | 439 | 562 | 449 | 734 | 692 | 1,025 | |
| Total Assets | 725 | 629 | 691 | 897 | 1,148 | 1,199 | 1,655 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 85 | 188 | 233 | 97 | 177 | 126 | 122 | |
| 136 | -28 | 26 | -72 | -13 | -29 | -139 | |
| -186 | -168 | -96 | -26 | -154 | -103 | 17 | |
| Net Cash Flow | 36 | -8 | 163 | -1 | 10 | -6 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 83 | 83 | 72 | 36 | 54 | 52 | 70 |
| Inventory Days | 337 | 208 | 215 | 349 | 348 | 320 | 312 |
| Days Payable | 36 | 20 | 26 | 43 | 52 | 59 | 87 |
| Cash Conversion Cycle | 384 | 270 | 261 | 342 | 350 | 313 | 295 |
| Working Capital Days | 95 | 71 | 37 | 45 | 31 | 48 | 147 |
| ROCE % | 30% | 33% | 35% | 37% | 43% | 38% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
16 May - Audio recording of Q4FY25 results conference call released on 16 May 2025.
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Announcement under Regulation 30 (LODR)-Investor Presentation
15 May - Investors Presentation for Earnings call scheduled on Friday, 16th May, 2025 at 11:00 a.m.
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Results - Financial Results For The Year Ended March 31, 2025
15 May - Audited FY25 results: Rs. 29,892 lakh profit; final dividend Rs. 2/share recommended; secretarial auditor appointed.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
15 May - Audited FY25 results approved; final dividend Rs.2/share recommended; secretarial auditor appointed for 5 years.
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Announcement under Regulation 30 (LODR)-Change in Management
15 May - Audited FY25 results approved; final dividend Rs.2/share recommended; secretarial auditor appointed for 5 years.
Concalls
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May 2025TranscriptNotesPPT
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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 Divison[1]
1. Industrial Gas (59% of Q2FY25 revenue)
The division designs, manufactures, and installs cryogenic tanks and systems for the storage, transportation, and distribution of industrial gases, including green hydrogen and oxygen.