INOX India Limited announced robust performance for FY 2026, reporting a total annual income of INR 1,632 crores, marking a 21.2% growth over the previous year. The company maintained a healthy EBITDA margin of 23.8%, driven by strong momentum in its industrial gas and LNG divisions. Despite global headwinds, INOX remains well-positioned for future growth through strategic capacity expansions at its new Kandla facility and high-value orders in aerospace and marine sectors.
Financial Performance Highlights
For the quarter ended March 31, 2026, INOX India reported a total income of INR 475 crores, representing a 24.2% year-on-year growth. This record-breaking performance was supported by strong execution in LNG terminal projects and aerospace orders. The company reported an Adjusted PAT of INR 261 crores for the full year, a 19.3% increase compared to FY 2025. As of March 31, 2026, the order book stands at a healthy INR 1,514 crores, with 63% of the orders originating from international markets.
Strategic Business Segments
The Industrial Gas Solutions segment remains the company’s largest contributor, bolstered by significant wins, including a INR 200 crore aerospace order from a leading U.S.-based private space firm. In the LNG Solutions space, the company achieved a breakthrough with an INR 85 crore order from Cochin Shipyard for marine LNG fuel tanks. Furthermore, the Beverage Keg business saw a 31% increase in dispatch volumes, with the company securing approvals from global brewing giants such as Heineken, AB InBev, and Molson Coors.
Future Outlook and Capacity Building
To support its long-term growth strategy, INOX India is developing a new manufacturing facility in Kandla. Situated on a 30-year lease near the port, this facility will enhance the company’s capability to manufacture ultra-large tanks, with diameters up to 9 meters and weights up to 500 tons. The facility is expected to be commissioned within 9 to 10 months, opening new opportunities for large-scale LNG storage and aerospace projects.
Innovation and Global Presence
The company is actively pursuing innovation in data center cooling, having signed an MoU with a European partner to develop liquid nitrogen-based cooling solutions. Management expects this early-stage R&D initiative to yield meaningful developments within 6 to 12 months. With a diversified geographic presence—including significant revenue growth in North and Central America—INOX India continues to leverage its deep cryogenic engineering expertise to capitalize on the global energy transition.
Source: BSE
