INOX India Ltd (INOXCVA) announced the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. Key highlights show robust performance, with Q3 revenue growing 27.4% YoY to ₹436 Cr and Adjusted PAT increasing by 32.4% YoY to ₹68 Cr. The company achieved its highest-ever Quarterly Revenue and Adjusted EBITDA in Q3 FY26, driven by strong export contributions.
INOX India Announces Strong Q3 FY26 Results
INOX India Limited (INOXCVA) has declared the outcome of its Board Meeting held on February 12, 2026, approving the unaudited financial results for the third quarter and nine months ended December 31, 2025. The results reflect sustained execution momentum across diversified businesses, supported by robust order inflows.
Q3 FY26 Financial Performance Highlights
The company reported excellent performance in the third quarter:
- Revenue for Q3 FY26 grew 27.4% Year-over-Year (YoY) to ₹436 Crore.
- Adjusted EBITDA for the quarter rose 34.2% YoY to ₹102 Crore.
- Adjusted Profit After Tax (PAT) for Q3 FY26 increased by 32.4% YoY to ₹68 Crore.
- The company achieved its highest-ever Quarterly Revenue, adjusted EBITDA, and Export Revenue in Q3’26.
- Export Revenue stood at ₹271 Crore, contributing 62% to total revenues.
- Order Inflow during the quarter totaled ₹392 Crore, pushing the total order book to ₹1457 Crore.
Nine Months Ended (9M FY26) Performance
For the nine months ended December 31, 2025, the growth trajectory continued:
- Total Revenue grew 20.0% YoY to ₹1157 Crore.
- Adjusted EBITDA increased by 23.0% YoY to ₹281 Crore.
- Adjusted PAT rose by 23.7% YoY to ₹189 Crore.
- Export Revenue for 9M FY26 reached ₹679 Crore, accounting for 59% of total revenues.
Segmental Contributions and Strategic Wins
The Industrial Gases (IG) division contributed 59% of overall revenue for the quarter, securing a significant order from a leading US-based aerospace customer for two 1,000 cubic meter cryogenic storage tanks.
The LNG segment, contributing 25% of revenue, secured an order for two 150 cubic meter marine fuel tanks from a European customer and commenced a fully automated serial production line for LNG fuel tanks at its Kalol facility.
The Cryo Scientific Division (CSD) contributed 13%, receiving repeat orders from ITER, France, for complex installation and refurbishment works.
The KEG Division saw strategic progress, receiving its first-ever order from Heineken for the European market and approval from Molson Coors in the U.S., signifying approval from global breweries representing over 40% of the global beer market.
CEO Commentary
Deepak Acharya, Chief Executive Officer, commented that the performance reflects sustained execution momentum across diversified businesses. He highlighted the growing traction in LNG applications, repeat orders from ITER, and strategic progress in the Beverage Kegs business as key factors strengthening long-term growth visibility. The company also secured prestigious honors, including the “Most Impactful ESG Initiative” award.
Auditor Review and Notes
The Unaudited Standalone Financial Results were reviewed by the Statutory Auditors (SRBC & CO LLP) and approved by the Board of Directors. Key notes detailed the accounting treatment for Share-Based Payments (employee stock options) and the recognition of Exceptional Items related to the settlement receipts from the USA subsidiary (CVA) and the arbitration award concerning the Non-Compete clause violation with TWA (totaling ₹848.96 lakh expense).
Furthermore, adjustments were made related to the One-time impact of New Labour Codes, recognizing estimated increases in liability for Gratuity and Compensated absences.
Source: BSE
