Inox India posts 16% hike in profits YoY in Q1 results
Inox India posted a good beginning to FY26, with its Q1 performance showing strong financial growth, export-driven trend, and heavy order wins across its diversified business segments. For the period ended June 30, 2025, the company recorded a 16.7% year-on-year growth in consolidated revenue at ₹352 crore. Profit after tax (PAT) increased 18.9% YoY to ₹61 crore, and EBITDA increased by 19.4% to ₹89 crore, reflecting efficient operational management and high demand for its cryogenic engineering solutions.
The unambiguous quarter highlight was the export performance of the company: exports accounted for ₹198 crore, 56% of total revenue. This robust overseas demand supports Inox India's extensive global penetration, with customers in more than 100 nations and risk mitigation through geographic diversification. The firm's total order inflows for the Q1 were ₹415 crore, which took the overall order book to a whopping ₹1,457 crore. This pipeline provides revenue visibility for the future and indicates favorable market sentiments, particularly in the rapidly growing industrial gases and clean energy segments.
Inox India's industrial gases business contributed 48% of total revenue, driven by milestone orders like India's first ultra-high-purity (UHP) ammonia ISO containers—a flagship product for semiconductors and solar supply chains. The business also achieved robust demand growth in high-purity product volumes and booked a pathfinder order for a CO₂ Battery project to address long-duration energy storage. Importantly, in spite of increased US import duties, the business maintained substantial orders for disposable cylinders from American customers, a testament to resilience and good tariff avoidance measures.
The business's LNG segment, accounting for 29% of Q1 revenue, recorded healthy order flow, such as high volumes of fuel tank orders from top Indian OEMs, as the nation slowly embraced LNG as a clean fuel. Market adoption and regulatory support also enhanced this segment. In the cryo-scientific segment, Inox India won a high-profile ₹145 crore order to refurbish the Cryostat Thermal Shield from the ITER (International Thermonuclear Experimental Reactor) project—a demonstration of its engineering excellence.
On a margin basis, the firm held a robust EBITDA margin of around 22.5%, though it narrowed from the prior-year period. Inox India is investing in innovation and capacity building in expectation of increasing demand, and its diversified order inflow indicates long-term industry tailwinds.
All in all, Inox India's Q1 FY26 performance further establishes it as a top cryogenic equipment maker with financial resilience, strong export growth, and a good order book driving the company ahead for further success over the course of the fiscal year.
