INOX India Limited announced its Q2 and H1 FY27 financial results, highlighting a strong performance with total income of INR467 crores in Q2 FY27, a 26.6% Y-o-Y growth. The company achieved a record-high half-year income of INR849 crores and an EBITDA of INR189 crores. The order backlog reached a new peak of INR2,268 crores as of September 30, 2026, with 72% from exports.
INOX India Limited Reports Strong Q2 and H1 FY27 Results
INOX India Limited has announced its financial results for the second quarter and the first half of FY27, demonstrating robust growth and a significant increase in its order backlog. The company reported a total income of INR467 crores for the second quarter of FY27, marking a substantial 26.6% year-on-year growth. This performance was driven by strong execution across key business segments.
Record Half-Year Performance
For the first half of FY27, INOX India Limited achieved a record-high total income of INR849 crores. The company’s EBITDA for the first half also reached an all-time high of INR189 crores, with an EBITDA margin of 22.3%. Profit after tax for H1 FY27 stood at INR127 crores, with a PAT margin of 14.9%. These figures reflect healthy performance across the industrial gas, LNG, and Cryo-Scientific divisions.
Significant Order Backlog Growth
A key highlight of the results is the company’s order backlog, which scaled a new peak of INR2,268 crores as of September 30, 2026. This substantial backlog provides strong revenue visibility for the upcoming quarters, with 72% of the order book attributed to exports, underscoring INOX India’s strong global presence and capabilities. The company also reported total fund availability of INR384 crores as of Q2 FY27, providing ample headroom for future expansion and strategic initiatives.
Key Business Developments
During the quarter, INOX India secured a significant milestone with its order backlog crossing INR2,200 crores. Orders from the space sector contributed approximately INR1,100 crores. The company also received a mega order for subcoolers from a U.S. space company. The industrial gas solutions segment saw orders worth approximately INR60 crores. The LNG solution business secured orders for 40-plus LNG semi-trailers and storage tank vaporization systems worth approximately INR14 crores.
In the Cryo-Scientific and advanced engineering solutions segment, the company secured an order worth approximately INR35 crores for specialized cryogenic equipment for the Laser Interferometric Gravitational-Wave Observatory project. The beverage keg business experienced strong momentum, with Q2 FY27 sales growing approximately 446% year-on-year. The aerospace and space sector continues to be a significant area of opportunity, with the order book reflecting the growing importance of the space sector.
INOX India also secured a key order for the initial piping scope at a leading semiconductor manufacturing facility and is actively pursuing larger projects in this emerging sector. The company also inaugurated an Orbital Welding Skill Excellence Center named SemiOrbit. Significant dispatches were made for international projects, including the Bahamas and U.S. aerospace customer projects.
Financial Highlights
For Q2 FY27, EBITDA stood at INR100 crores, a 10.8% Y-o-Y increase, with an EBITDA margin of 21.3%. Profit after tax was INR66 crores, a 7.8% Y-o-Y growth, with a PAT margin of 14.2%. The company highlighted that the Q2 margin decline was temporarily driven by higher freight costs and strategic pricing, with the H1 margin remaining strong at 22.3%.
Source: BSE
