INOX India (INOXINDIA) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue of ₹436 Cr in Q3 FY26, up 27.4% YoY, with highest-ever export revenue at ₹271 Cr, representing 62% of total revenue.

• Recognized for impactful ESG initiatives and innovation, including awards at Gasworld Global Innovation Awards and India's first LNG-powered cryogenic tanker.

• Strong global presence with operations in 100+ countries and over 30 years of experience, focusing on clean energy, hydrogen, LNG, and fusion energy.

• Diversified business segments contributed to performance, with new approvals from major breweries and aerospace clients strengthening the outlook.

Financial highlights

• Q3 FY26 consolidated revenue was ₹436 Cr, up 27.4% YoY; adjusted EBITDA was ₹102 Cr (margin 23.4%-23.5%), and adjusted PAT was ₹68 Cr, up 32.4% YoY.

• 9M FY26 revenue reached ₹1,157 Cr, up 20% YoY; adjusted EBITDA at ₹281 Cr, up 23% YoY; adjusted PAT at ₹189 Cr, up 23.7% YoY.

• Export revenue in Q3 FY26 was ₹271 Cr, representing 62% of total revenue; 9M FY26 export revenue was ₹679 Cr, up 35.8% YoY.

• Order backlog as of Dec 31, 2025, stood at ₹1,457 Cr, with 63% from exports.

• Earnings per share (Q3 FY26): Basic ₹6.69, Diluted ₹6.67.

Outlook and guidance

• Management expects to meet FY26 order inflow target of ₹1,700 Cr and projects 18%-20% growth for FY27, supported by a strong order pipeline and capacity expansion.

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

• Execution for Q4 is on track, with potential to exceed revenue targets.

• Robust order book and expanding global customer base support sustained growth.