Is Inox India Poised to Lead India’s Cryogenic and Hydrogen Infrastructure Growth?
About Inox India Ltd
Inox India Ltd designs and manufactures cryogenic equipment used in industrial gas, LNG, green hydrogen, and energy transition applications. The company is part of the Inox Group, with over three decades of engineering excellence. It exports to more than 90 countries and operates world-class manufacturing facilities in Gujarat. Inox’s deep expertise in cryogenic storage, transport, and distribution has positioned it as a vital partner in India’s clean energy transformation.
With global decarbonization gaining traction, Inox India’s participation in LNG-to-Hydrogen transition projects is accelerating growth both domestically and internationally.
Financial Highlights (Q2 FY26)
| Metric | Q2 FY26 | YoY |
|---|---|---|
| Revenue | ₹371 Cr | +16% |
| EBITDA | ₹92 Cr | +18% |
| PAT | ₹62 Cr | +23% |
| Order Book | ₹1,485 Cr | Record High |
Inox India achieved record-high order inflows this quarter, with export orders comprising 63% of total backlog. This global diversification strengthens revenue visibility for the next 12–18 months.
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Peer Comparison
| Company | Revenue (₹ Cr) | EBITDA Margin |
|---|---|---|
| Inox India | 371 | 24.8% |
| Linde India | 644 | 43.9% |
| Thermax | 2,800 | 11.4% |
The strong execution record and strategic focus on energy transition projects reinforce investor confidence in Inox India’s long-term story.
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Weaknesses
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Inox India’s expanding capacity and diversification into green hydrogen projects will likely sustain its leadership in the cryogenic space.
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Valuation & Investment View
- Short-term: Backed by record order book and high cash reserves.
- Medium-term: Margin expansion from export leverage.
- Long-term: Beneficiary of hydrogen and LNG infrastructure push.
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Investor Takeaway
Gulshan Khera, CFP®, from Indian-Share-Tips.com, highlights that Inox India’s strong balance sheet, healthy margins, and leadership in cryogenic systems make it one of India’s most promising clean-tech engineering companies. Read more insights at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related Queries on Inox India Hydrogen Transition
- Will Inox India Benefit from Green Hydrogen Mission?
- Can Inox India Sustain Record Order Book Growth?
- What Makes Inox India a Unique Clean-Tech Play?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
