INOX India Limited (INOXCVA) has reported its strongest quarterly performance to date in Q2 FY26, with consolidated revenue increasing by 16% year-on-year. The company's robust growth was driven by strong order inflows and higher dispatches across key business segments.

Financial Highlights

• Total income reached INR 371.00 crores for Q2 FY26, up 16% year-on-year
• EBITDA grew 18% to INR 92.00 crores
• Profit After Tax (PAT) increased 22.9% to INR 62.00 crores

For the first half of FY26, INOX India achieved its highest-ever half-year results:

• Revenue: INR 723.00 crores
• EBITDA: INR 180.00 crores
• PAT: INR 122.00 crores (20.9% growth)

Order Book and Market Position

The company's order backlog stands at a record INR 1,485.00 crores as of September 30, 2025, reflecting sustained demand visibility. The order book composition highlights INOX India's strong international presence:

• 63% from exports
• 37% from the domestic market

Key Business Developments

Industrial Gas Solutions

• Secured two large 1,500 metric cube cryogenic vessel orders from a leading U.S.-based aerospace company
• Successfully dispatched a unique radial flow thermal swing absorption vessel for Tata Air Separation Project

LNG Solutions

• Received orders for two satellite LNG power station projects from small island nations near the Bahamas
• Experiencing robust demand for LNG vehicle fuel tanks from major OEMs

Cryo Scientific Division

• Obtained two major refurbishment contracts for vacuum vessel thermal shield and cryostat thermal shield repairs

Beverage Kegs Division

• Secured a 30,000 kegs order from a German company
• Actively bidding for over 0.5 million kegs with major global breweries, including Heineken and AB InBev

Future Outlook

INOX India's management expects to achieve its yearly targets, with several large orders anticipated in the second half of FY26, particularly in the cryoscientific and LNG segments. The company's diversified portfolio across LNG, industrial gas, cryo-scientific, and beverage applications positions it strongly for sustained growth.

Management Commentary

Deepak Acharya, CEO of INOX India, stated, "Q2 FY26 and H1 FY26 have been the best performance period in the company's history, making the highest ever sales, highest EBITDA and PAT margins, and record order backlog, reflecting our strong execution capabilities, innovation-led portfolio, and rising global footprint."

As INOX India continues to expand its global customer base and diversify its product offerings, the company remains confident in maintaining its growth trajectory and delivering long-term value for stakeholders.

INOX India , a prominent player in the industrial gas sector, has recently announced its ambitious yearly goals, setting the stage for a potentially robust financial performance. The company has outlined its production and revenue targets, providing investors with a clear roadmap for the upcoming fiscal year.

Production and Revenue Targets

INOX India has set its sights on manufacturing between 100,000 to 150,000 beverage kegs this year, showcasing its commitment to expanding its product line and market presence. This production target aligns with the company's broader strategy to capitalize on the growing demand in the beverage industry.

In terms of revenue distribution, INOX India has provided a detailed breakdown of its expectations:

This distribution suggests a stronger performance anticipated in the latter half of the year, possibly due to seasonal factors or planned business initiatives.

Financial Outlook

The company has shared several key financial metrics that paint a picture of its expected performance:

These figures indicate a robust order book and healthy profit margins, suggesting a positive outlook for INOX India's financial health.

Investor Communication

In line with its commitment to transparency, INOX India held a conference call with analysts and investors on November 6, to discuss its Q2 results. The company has made the audio recording of this call available on its website, demonstrating its dedication to keeping stakeholders informed about its performance and strategies.

Conclusion

INOX India's clear articulation of its production targets, revenue distribution goals, and financial expectations provides a comprehensive view of the company's direction. With a strong backlog and ambitious production plans, the company appears poised for growth in the coming year. However, investors should note that these targets are projections and actual results may vary based on market conditions and other factors.

As the industrial gas sector continues to evolve, INOX India's strategic planning and transparent communication with investors position it as a company to watch in the coming fiscal year.