INOX India Limited has reported its highest-ever annual performance for FY26, achieving a total revenue of ₹1,632 crore, representing a robust 21.2% year-on-year growth. The company’s adjusted EBITDA reached ₹388 crore, while the LNG segment set a new revenue record of ₹457 crore. Supported by an impressive order backlog of ₹1,514 crore, the company remains debt-free and well-positioned to leverage emerging opportunities in clean energy, space exploration, and global cryogenic infrastructure.
Annual Financial Milestones
For the financial year FY26, INOX India achieved record-breaking financial results. The company reported a total revenue of ₹1,632 crore, marking a strong 21.2% increase compared to FY25. Profitability remained steady with an adjusted EBITDA of ₹388 crore and an adjusted PAT of ₹261 crore. The growth is underpinned by operational excellence and successful expansion in the company’s core business segments.
Segmental Performance and Order Backlog
The company’s focus on diverse cryogenic applications yielded significant returns, with the LNG segment achieving its highest-ever revenue of ₹457 crore. Strategic wins in the fourth quarter, including a ₹200 crore high-value order from a major US private aerospace company and consistent demand from industrial gas sectors, have pushed the total order backlog to ₹1,514 crore as of March 2026. Export revenue also saw notable strength, reaching ₹291 crore in Q4FY26.
Strategic Growth in Clean Energy
INOX India is capitalizing on global decarbonization trends through its specialized solutions in Liquid Hydrogen, LNG, and Fusion energy. The company’s contribution to high-profile projects, such as the ITER fusion research project and various ISRO space missions, demonstrates its leadership in the cryogenic value chain. With 450+ in-house engineers and integrated manufacturing capabilities across India, Brazil, and Europe, the company is effectively positioned to meet the growing global demand for clean energy infrastructure.
Operational Strength
The company maintains a strong balance sheet with a net debt-free status and free cash of approximately ₹257 crore. Despite significant capital expenditure for facility expansions at Savli and other growth-oriented investments, INOX India continues to deliver high returns, reporting a 37% RoCE and 23% ROE for FY26. These figures reflect the company’s efficiency in managing working capital and scaling operations to meet international quality standards.
Source: BSE
