INOX India Limited , a leading manufacturer of cryogenic storage and distribution systems, has announced strong financial results for the second quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Financial Highlights

The company reported impressive year-on-year growth in its Q2 FY26 results:

For the first half of FY26, INOX India achieved its highest-ever H1 performance:

Export Performance and Order Book

Exports continued to be a significant contributor to INOX India's revenue:

• Q2 FY26 export revenue: ₹211.00 crore (57% of total revenue)
• H1 FY26 export revenue: ₹409.00 crore (56% of total revenue, up 24% Y-o-Y)

The company secured new orders worth ₹374.00 crore in Q2, bringing its total order backlog to ₹1,485.00 crore. This robust order book indicates strong market confidence and growing demand for cryogenic applications in industrial and clean energy sectors.

Divisional Performance

• Industrial Gases Division: Contributed 57% to overall revenue
• LNG Division: Accounted for 25% of total revenue
• Cryo Scientific Division: Represented 13% of overall revenue

Key Order Wins

INOX India secured several significant orders during the quarter:

1. A 1,500 cubic meter cryogenic vessel order from a US-based customer
2. Additional orders from ITER for Vacuum Vessel Thermal Shield (VVTS) refurbishment
3. A 90 KL liquid hydrogen tank order for a European semiconductor facility
4. LNG regasification projects for two small islands in The Bahamas

Management Commentary

Deepak Acharya, CEO of INOX India Limited, commented on the results: "Our Q2 FY26 results reflect robust execution and strategic momentum across our businesses, delivering a promising increase in Revenues and PAT, alongside achieving our highest-ever H1 financial metrics. The sustained confidence in our technology is evident from our order inflows and a growing order backlog, positioning us strongly for the future."

Outlook

With exports contributing 57% to its revenue, INOX India is well-positioned to capitalize on the increasing global demand for advanced cryogenic solutions, particularly in the clean energy and high-technology sectors. The company's diverse order book and strong performance across divisions indicate a positive outlook for the remainder of FY26 and beyond.

As INOX India continues to secure major international contracts and expand its presence in key markets, investors may want to keep a close eye on the company's future performance and growth strategies in the evolving cryogenic technology landscape.

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.