INOX India Limited, a leading manufacturer of cryogenic equipment and solutions, has reported a strong start with significant growth across key financial metrics in the first quarter.

Financial Highlights

The company reported a revenue of INR352.00 crores for Q1, representing a robust growth of 16.7% year-on-year. EBITDA stood at INR89.00 crores, up by 19.4%, while profit after tax increased by 18.9% to INR61.00 crores.

Segment Performance

Industrial Gas Solutions

• Achieved a milestone with the dispatch of India's first ultra-high purity ammonia ISO containers for the semiconductor and solar panel sectors
• Launched India's first CO2 battery storage application, a breakthrough in long-duration energy storage
• Received notable orders for disposable cylinders from U.S. customers

LNG Segment

• Supplied approximately 145 LNG fuel tanks to major OEM manufacturers
• Expanding production capacity to meet growing demand
• Benefiting from recent regulatory changes allowing LNG use as fuel for mobile pressure vessels in cryogenic applications

Cryo Scientific Division

• Secured a major order for Cryostat Thermal Shield from ITER valued at approximately INR145.00 crores
• 90% of fabrication to be carried out at INOX India's facility over nearly 2 years

Beverage Keg Division

• Received global approval from Heineken
• Secured orders worth INR6.40 crores in the quarter

Order Book and Inflow

• Order backlog as of June 30 stood at INR1,457.00 crores, with 63% comprising exports
• Total order inflow during the quarter was INR415.00 crores

Future Outlook

INOX India is targeting 18-20% revenue growth for the year and has planned capex of around INR80.00 crores. The company remains optimistic about its performance in the upcoming quarters, supported by strong customer relationships, growing demand across geographies, improving policy scenarios, environmental priorities, and continued execution of high-value projects.

Management Commentary

Deepak Acharya, CEO of INOX India, commented on the results during the earnings call: "We are encouraged by the momentum across our key businesses, backed by a diversified portfolio, global traction, and strong execution. We remain confident in sustaining our growth trajectory and are firmly committed to delivering long-term value for all stakeholders."

The company's performance reflects its strong position in the cryogenic equipment market and its ability to capitalize on emerging opportunities in clean energy and advanced manufacturing sectors.

INOX India Limited (INOXCVA), a leading manufacturer of cryogenic equipment, has reported robust financial results for the first quarter of fiscal year 2026. The company's performance showcases significant growth across key financial metrics, underlining its strong market position and operational efficiency.

Financial Highlights

Segment Performance

The company's growth was driven by strong performances across its various business segments:

Industrial Gases Division

• Contributed 48% to overall revenue
• Secured orders for India's first ultra-high-purity (UHP) ammonia ISO containers
• Received an order for a pioneering CO₂ Battery project for long-duration energy storage
• Obtained key disposable cylinder orders from the US, despite higher import tariffs

LNG Segment

• Accounted for 29% of overall revenue
• Witnessed robust order flow, including supply of numerous fuel tanks to leading OEMs in India
• Capacity expansion underway to meet rising demand from OEMs and fleet operators

Cryo Scientific Division (CSD)

• Secured a new order for Cryostat Thermal Shield (CTS) refurbishment, valued at approximately ₹145.00 crore
• Strengthens long-term involvement with the ITER project
• 90% of fabrication to be carried out in-house

Keg Division

• Received approvals from global brewing giants Heineken and ABInBev
• Obtained approvals from two breweries in Brazil
• Secured a large order from a German company

Order Book and Market Position

INOX India's order book stands strong at ₹1,457.00 crore, with new order inflows of ₹415.00 crore during the quarter. This robust order book reflects positive market confidence and potential in industrial gases application and clean energy sectors.

Management Commentary

Deepak Acharya, Chief Executive Officer of INOX India Ltd, commented on the results: "FY26 has begun on a strong note, with robust order inflows across all divisions. Our Industrial Gases business saw healthy growth, marked by breakthrough orders like India's first UHP Ammonia ISO containers and a pioneering CO₂ battery project. The LNG division continued its growth trajectory with supply of large number of LNG Fuel tanks to OEMs in India. We are committed to become a key catalyst in the LNG mobility space, and have therefore laid out plans for capacity expansion to meet rising demand for LNG fuel tanks."

Future Outlook

With a diversified portfolio and strong market tailwinds, INOX India remains confident in sustaining growth throughout FY26. The company's focus on innovation, capacity expansion, and strategic market positioning across its business segments is expected to drive continued success.

About INOX India Ltd

INOX India Ltd (INOXCVA) is one of the largest manufacturers of Cryogenic Storage, Re-gas and Distribution Systems for LNG, Industrial Gases and Cryo-Scientific applications. With operations in India, Brazil, and Europe, the company serves customers in over 100 countries and is leading India's efforts to use LNG for industrial and automotive applications.

Additional Information

The Board of Directors has taken note of a fine imposed by BSE Limited amounting to ₹52,000.00 (excluding GST and TDS) for non-compliance related to the non-submission of the Annual Secretarial Compliance Report in XBRL format. The company has since complied with the requirements and paid the fine to the exchange.

As INOX India continues to innovate and expand its market presence, the strong Q1 FY26 results set a positive tone for the company's performance in the coming quarters.