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INOX India Limited INOXINDIA NSEINFRA

Industrials · Specialty Industrial Machinery · India
https://www.inoxcva.com

INOX India Limited manufactures and supplies cryogenic liquid storage and transport tanks for gas companies and engineering, procurement, and construction (EPC) companies in India and internationally. It also offers industrial gas equipment comprising storage and transport tanks, microbulk units, vaporizers and piping, and oil and gas equipment. In addition, the company provides liquid nitrogen containers, bio-series containers, and low-pressure storage tanks; cylinders for gases, including refrigerants, LPG, and helium balloon cylinders. Further, it offers cryogenic process technologies, cryogenic propulsion systems, and satellite and launch facilities, as well as fusion (ITER) and superconductivity. Additionally, the company engages in the installation of equipment and systems for cryogenic conditions, standard cryogenic tanks and equipment, bespoke technology, equipment and solutions, as well as the operation of projects used in industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, construction, and pharmaceuticals. Furthermore, it provides industrial applications, LNG infrastructure, horsepower, automotive industry applications systems, and LNG equipment, as well as beer kegs. The company serves aviation and aerospace, construction and cement, cryo scientific research, dairy and livestock, electronics, fertilizer and chemical, food and beverages, material handling, glass and ceramics, health care and life sciences, hydrogen, industrial gas, LNG and LCNG, metal processing, oil and gas, refining, petrochemical, paper and pulp, pharmaceuticals, power and utilities, rubber, steel and mining, water and water treatment, and entertainment and event sectors. INOX India Limited was incorporated in 1976 and is headquartered in Vadodara, India.

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₹1,493.60
+24.42% 1Y

Market & Price

Market Cap
₹13,556.44 Cr
Current Price
₹1,493.60
High / Low (52W)
₹1,592.90 / ₹1,071.80
Beta
0.69

Valuation

Stock P/E
52.63
Industry PE
27.78
Forward P/E
35.14
PEG Ratio
-
Book Value
₹123.14
Price to Book
12.13
P/S
8.54
EV/EBITDA
39.83
Dividend Yield
0.13%

Profitability & Returns

ROCE
30.77%
ROE
25.90%
ROA
10.24%
Profit Margin
16.25%
Op Margin
18.59%
EPS (Latest Qtr)
₹8.27
EPS (TTM)
₹28.38

Balance Sheet & Liquidity

Debt/Equity
0.07
Quick Ratio
1.16
Current Ratio
1.79
Debt
₹81.04 Cr
Total Assets
₹2,015.85 Cr
Current Assets
₹1,554.61 Cr
Working Capital
₹679.79 Cr

Ownership

Promoter Holding
81.09%
Chg in Prom Hold
-0.04%
FII / Inst Holding
10.23%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹13,316.09 Cr
Total Revenue (TTM)
₹1,587.06 Cr
EBITDA
₹334.29 Cr
Free Cash Flow
₹-59.99 Cr
Operating Cash Flow
₹116.65 Cr
Shares Outstanding
₹9.08 Cr
Gross Margin
55.44%
Payout Ratio
7.06%

Growth (CAGR)

Revenue 5Y
19.14%
Profit 5Y
18.56%
Revenue (YoY)
24.70%
Earnings (YoY)
14.90%

PROS

  • Strong return on equity of 25.9%.
  • Healthy ROCE of 30.8%.
  • Compounding revenue at 19.1% over 5 years.
  • Profit CAGR of 18.6% over 5 years.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 52.6.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 INOXINDIA INOX India Limited NSEINFRA 1,493.60 52.63 ₹13,556.44 Cr 0.13% 30.77% 25.90% 19.14% 18.56%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 4,076.50 34.84 ₹5.61 L Cr 0.93% 14.55% 16.95% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,804.60 30.96 ₹4.16 L Cr 0.42% 11.02% 15.59% 22.93% 34.11%
4 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,303.80 31.55 ₹2.88 L Cr 1.16% 13.80% 23.98% 7.87% 16.08%
5 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 38,445.00 172.41 ₹1.71 L Cr 0.02% 24.92% 21.04% 22.24% 119.12%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 4,405.00 - ₹1.70 L Cr 0.24% 15.53% - 44.12% 72.60%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,881.00 68.97 ₹1.63 L Cr 1.12% 34.95% 29.45% 16.07% 24.35%
8 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 917.45 118.99 ₹1.44 L Cr 0.14% 19.35% 19.56% 21.67% 7.81%
9 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,477.50 53.48 ₹1.43 L Cr 0.37% 30.44% 24.58% 26.57% 28.11%
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Quarterly Results

Figures in INR.

Metric Dec 2024Mar 2025Jun 2025Dec 2025Mar 2026
Revenue 333.63 Cr369.40 Cr339.62 Cr428.56 Cr460.65 Cr
Cost of Revenue 148.79 Cr156.28 Cr134.76 Cr203.77 Cr208.61 Cr
Gross Profit 184.84 Cr213.12 Cr204.86 Cr224.79 Cr252.04 Cr
Operating Expenses 122.32 Cr138.60 Cr136.30 Cr140.11 Cr166.41 Cr
Operating Income 62.52 Cr74.52 Cr68.57 Cr84.69 Cr85.64 Cr
EBITDA 84.82 Cr94.79 Cr88.80 Cr92.68 Cr112.45 Cr
Interest Expense 2.50 Cr1.17 Cr72.45 L3.00 Cr3.51 Cr
Pretax Income 75.91 Cr86.48 Cr80.51 Cr80.28 Cr99.92 Cr
Tax Provision 17.53 Cr20.97 Cr19.39 Cr19.59 Cr24.68 Cr
Net Income 58.39 Cr65.51 Cr61.12 Cr60.70 Cr75.24 Cr
Diluted EPS 6.417.206.716.678.27

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -938.57 Cr1,106.03 Cr1,306.00 Cr1,587.06 Cr
Cost of Revenue -551.23 Cr612.35 Cr576.96 Cr697.36 Cr
Gross Profit -387.35 Cr493.68 Cr729.04 Cr889.70 Cr
Operating Expenses -195.16 Cr259.99 Cr469.41 Cr580.47 Cr
Operating Income -192.19 Cr233.69 Cr259.63 Cr309.23 Cr
EBITDA -222.39 Cr279.24 Cr332.53 Cr384.75 Cr
Interest Expense -1.54 Cr3.33 Cr8.54 Cr9.23 Cr
Pretax Income -206.94 Cr257.78 Cr298.92 Cr341.91 Cr
Tax Provision -52.20 Cr61.77 Cr72.90 Cr84.02 Cr
Net Income -154.74 Cr196.00 Cr226.03 Cr257.89 Cr
Diluted EPS -17.0521.5324.8328.33

Compounded Sales Growth

5 Years:19.14%
1 Year:24.70%

Compounded Profit Growth

5 Years:18.56%
1 Year:14.90%

Stock Price Performance

1 Year:+24.42%
6 Months:+29.87%
3 Months:+30.67%
1 Month:-0.61%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -1,147.81 Cr1,223.11 Cr1,655.34 Cr2,015.85 Cr
Current Assets -962.43 Cr936.02 Cr1,264.98 Cr1,554.61 Cr
Cash & Equivalents -11.21 Cr4.95 Cr3.51 Cr16.03 Cr
Inventory -412.77 Cr433.84 Cr492.99 Cr478.18 Cr
Receivables -142.90 Cr173.87 Cr251.64 Cr312.86 Cr
Total Liabilities -598.33 Cr574.04 Cr781.65 Cr898.24 Cr
Current Liabilities -570.44 Cr542.70 Cr752.61 Cr874.82 Cr
Long Term Debt -----
Total Debt -8.99 Cr16.15 Cr43.25 Cr81.04 Cr
Total Equity -549.48 Cr649.07 Cr873.69 Cr1,117.61 Cr
Shares Outstanding -9.08 Cr9.08 Cr9.08 Cr9.08 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -176.66 Cr122.44 Cr121.97 Cr116.65 Cr
Investing Cash Flow --12.09 Cr-24.93 Cr-139.21 Cr-109.71 Cr
Financing Cash Flow --153.62 Cr-103.02 Cr17.15 Cr5.39 Cr
Capital Expenditure --46.89 Cr-98.26 Cr-125.04 Cr-105.92 Cr
Free Cash Flow -129.77 Cr24.17 Cr-3.07 Cr10.73 Cr
Net Change in Cash -10.95 Cr-5.51 Cr-8.15 L12.32 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -41.3%44.6%55.8%56.1%
Operating Margin % -20.5%21.1%19.9%19.5%
Net Margin % -16.5%17.7%17.3%16.2%
ROE % -28.2%30.2%25.9%23.1%
ROCE % -33.3%34.3%28.8%27.1%

Shareholding Pattern

Insiders
81.09%
Institutions
10.23%
Public Float
54.13%

Analyst View

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