Board Meeting Details

The Board of Directors meeting was held on 3rd August, 2026, commencing at 04:20 p.m. and concluding at 04:38 p.m. The Board approved and took on record:

  • Unaudited Standalone and Consolidated Financial Results and Limited Review Report for quarter ended 30th June, 2026
  • Press Release on the Unaudited Financial Results for quarter ended 30th June, 2026

Financial Results - Consolidated (₹ Lakh)

Quarterly Performance (Q1 FY27 vs Q1 FY26)

  • Revenue from Operations: ₹37,079.03 (vs ₹33,962.45 in Q1 FY26)
  • Other Income: ₹1,080.51 (vs ₹1,266.86 in Q1 FY26)
  • Total Income: ₹38,159.54 (vs ₹35,229.31 in Q1 FY26)
  • Profit Before Tax: ₹7,558.56 (vs ₹8,051.22 in Q1 FY26)
  • Profit After Tax: ₹5,807.20 (vs ₹6,111.79 in Q1 FY26)
  • Total Comprehensive Income: ₹6,054.12 (vs ₹6,091.99 in Q1 FY26)
  • Basic EPS: ₹6.40 (vs ₹6.73 in Q1 FY26)
  • Diluted EPS: ₹6.38 (vs ₹6.71 in Q1 FY26)

Full Year FY26 Comparison

  • Revenue from Operations: ₹1,58,706.29 (FY26)
  • Profit After Tax: ₹25,788.84 (FY26)

Financial Results - Standalone (₹ Lakh)

Quarterly Performance (Q1 FY27 vs Q1 FY26)

  • Revenue from Operations: ₹35,699.98 (vs ₹32,739.15 in Q1 FY26)
  • Other Income: ₹1,113.12 (vs ₹1,247.38 in Q1 FY26)
  • Total Income: ₹36,813.10 (vs ₹33,986.53 in Q1 FY26)
  • Profit Before Tax: ₹7,308.87 (vs ₹7,995.05 in Q1 FY26)
  • Profit After Tax: ₹5,636.82 (vs ₹6,039.52 in Q1 FY26)
  • Total Comprehensive Income: ₹5,795.03 (vs ₹5,993.05 in Q1 FY26)
  • Basic EPS: ₹6.21 (vs ₹6.65 in Q1 FY26)
  • Diluted EPS: ₹6.19 (vs ₹6.64 in Q1 FY26)

Operational Highlights from Press Release

Financial Metrics (₹ Crore)

  • Q1 FY27 Revenue: ₹382 crore (8.3% YoY growth from ₹352 crore)
  • Q1 FY27 EBITDA: ₹90 crore (1.4% YoY growth from ₹88 crore)
  • Q1 FY27 PAT: ₹61 crore (flat YoY from ₹61 crore)
  • EBITDA Margin: 23.5%
  • PAT Margin: 15.9%
  • Export Revenue: ₹222 crore (58% of total revenue)
  • Order Inflow: ₹532 crore (quarterly record)
  • Total Order Book: ₹1,686 crore
  • Export Order Book: Exceeding ₹1,140 crore

Business Segment Performance

Industrial Gases Division (53% of revenue)

  • Major order from space exploration industry for large cryogenic storage tanks
  • Order for six additional tanks from same customer
  • Healthy repeat orders for disposable cylinders across global markets
  • Entry into semiconductor infrastructure space with initial orders for transportation tanks for Dholera facilities
  • Cryoseal liquid cylinder business gaining traction in India

LNG Division (22% of revenue)

  • Multiple orders for LNG fuelling stations
  • Continued leadership in LNG semi-trailer segment
  • Installation commenced for large storage tanks to mini-LNG terminal project in The Bahamas
  • New opportunities for satellite LNG stations

Cryo Scientific Division (20% of revenue)

  • Prestigious order from CERN for specialized cryogenic modules
  • Repeat order from ITER, France

Stainless-Steel Keg Business

  • Orders from Heineken, AB InBev and Molson Coors (covering 40% of global beer market)
  • Expansion of specialized non-standard keg variants

Strategic Developments

  • Strategic partnership with WAYOUT, Sweden for manufacturing modular water micro-factories in India
  • Received AS9100D aerospace quality certification for onboard flight applications
  • Partnership with ITM SLS Baroda University for semiconductor skill development center

Subsidiary Information

Consolidated results include:

  • INOX India Limited (Holding Company)
  • INOXCVA Comercio E Industria De Equipmentos Criogenicos Ltda. (Wholly Owned subsidiary)
  • INOXCVA Europe B.V. (Wholly Owned subsidiary)

One subsidiary had total revenues of ₹1,332.00 lakh, net profit after tax of ₹164.19 lakh, and total comprehensive income of ₹164.19 lakh for the quarter.

Share Capital

Paid-up Equity Share Capital: ₹1,815.27 lakh (Face Value ₹2 each), unchanged from previous periods

Exceptional Items

During FY26, the company recognized:

  • Exceptional income of ₹521.05 lakh from settlement with US customer (including ₹320.65 lakh in Q4 FY26)
  • Exceptional expense of ₹848.96 lakh from arbitration award to Taylor-Wharton America Inc

Labour Code Impact

The company accounted for estimated increase in liability due to New Labour Codes:

  • Gratuity: ₹129.38 lakh
  • Compensated absences (Leave encashment): ₹195.00 lakh

ESOP Details

Stock options granted to employees:

  • 3,64,895 options on 8th August 2023
  • 7,593 options on 7th February 2025
  • 2,267 options on 12th February 2026

Exercise price: ₹2 per option, vesting over 2-3 years, exercise period of 4 years from vesting