INOX India (INOXINDIA) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue grew 16.7% year-over-year to ₹352 Cr, with EBITDA of ₹89 Cr and PAT of ₹61 Cr; exports contributed 56% of total revenue.

• Order backlog as of June 30, 2025, reached ₹1,457 Cr, with 63% from exports and strong contributions from industrial gas, LNG, and cryoscientific divisions.

• The company is a leading global provider of customized cryogenic equipment, focused on clean energy initiatives and robust product innovation.

• Major product launches included India's first ultra-high-purity ammonia ISO tank container and CO2 battery storage application.

• Strong order inflows and diversified customer base across industrial gas, LNG, and scientific sectors support sustained growth.

Financial highlights

• Q1 FY26 consolidated revenue was ₹352 Cr, up 16.7% year-over-year; EBITDA rose 19.4% to ₹89 Cr; PAT increased 18.9% to ₹61 Cr.

• EBITDA margin improved to 25.3% from 24.5% year-over-year.

• Export revenue share increased to 56% in Q1 FY26.

• Available funds at quarter-end were ₹275 Cr, supporting future expansion.

• Earnings per share (basic) for Q1 FY26 was ₹6.73.

Outlook and guidance

• Management targets 18%-20% revenue growth for FY26, with expectations of margin improvement as new units stabilize.

• LNG and keg businesses are expected to scale significantly, with LNG growth projected above 20% and keg volumes to multiply as global approvals are secured.

• Strong demand outlook for hydrogen and LNG driven by global decarbonization and policy support.

• Capacity expansion underway in LNG segment to meet rising demand.

• The company remains optimistic about sustained growth, supported by a diversified portfolio and favorable policy environment.