INOX India Ltd (INOXCVA) reported exceptional unaudited financial results for the quarter ended December 31, 2025 (Q3 FY26). The company achieved its highest-ever Quarterly Revenue and Adjusted EBITDA. Quarterly revenue grew 27.4% YoY to ₹436 Cr, while Adjusted PAT rose 32.4% YoY to ₹68 Cr. Export performance was strong, contributing 62% to total revenue.
INOXCVA Announces Strong Q3 and 9M FY26 Financial Highlights
INOX India Ltd (INOXCVA) has announced robust financial results for the third quarter (Q3 FY26) ending December 31, 2025, showcasing sustained execution momentum across its diversified business segments.
Q3 FY26 Performance Highlights
The company reported significant year-over-year growth across key metrics for the quarter:
- Total Revenue reached ₹436 Cr, marking a 27.4% YoY growth.
- Adjusted EBITDA increased by 34.2% YoY to ₹102 Cr.
- Adjusted Profit After Tax (PAT) saw a 32.4% YoY increase, reaching ₹68 Cr.
- Export Revenue was a standout at ₹271 Cr, accounting for 62% of total revenues.
- Order Inflow for the quarter totaled ₹392 Cr, pushing the total order book to ₹1457 Cr.
The quarter was highlighted by the company achieving its highest ever Quarterly Revenue, Adjusted EBITDA, and Export Revenue.
Nine Months FY26 Performance Summary
For the nine months ended December 31, 2025, the performance remains strong:
- Revenue grew 20.0% YoY to ₹1157 Cr (Q3 FY26: ₹436 Cr vs Q3 FY25: ₹342 Cr).
- Adjusted EBITDA grew 23.0% YoY to ₹281 Cr (Q3 FY26: ₹102 Cr vs Q3 FY25: ₹76 Cr).
- Adjusted PAT increased by 23.7% YoY to ₹189 Cr (Q3 FY26: ₹68 Cr vs Q3 FY25: ₹51 Cr).
- Export Revenue stood at ₹679 Cr for the nine months, up 35.8% YoY and contributing 59% to total revenue.
Segment-wise Operational Highlights
Industrial Gases (IG)
The IG division contributed 59% of overall revenue. Key wins included an order from a leading US-based aerospace customer for two large cryogenic storage tanks and orders for close to 20,000 units of liquid nitrogen containers under the Cryoseal brand. The division also secured orders exceeding 7 lakh disposable cylinders from a major US customer.
Liquefied Natural Gas (LNG)
Contributing 25% to revenue, the LNG segment secured an order from a European customer for two 150 cubic meters LNG marine fuel tanks. Furthermore, the company commissioned a fully automated serial production line for LNG fuel tanks at its Kalol facility to meet increasing demand from automotive OEMs.
Cryo Scientific Division (CSD)
CSD contributed 13% to revenue and achieved key execution milestones for the ITER, France project, including cooling down the Magnet Cold Test Bench to 4 Kelvin.
KEG Division
The KEG division contributed 1.4% to revenue and secured its first-ever order from Heineken for the European market, alongside approval from Molson Coors in the United States. This positions INOX as approved by global breweries representing over 40% of the global beer market.
CEO Commentary on Strategic Growth
Deepak Acharya, CEO, emphasized that the results reflect sustained execution momentum, deepened customer engagements, and acceptance of engineered cryogenic solutions globally. He noted the strategic progress in the Beverage Kegs business and the company’s strong export orientation, positioning it well to capitalize on opportunities in clean energy, scientific research, and industrial gas sectors. The company was also recognized globally, securing honours for the “Most Impactful ESG Initiative” and “Innovation in Distribution” at the Gasworld Global Innovation Awards.
Source: BSE
