INOX India reported an 8.3% year-on-year increase in revenue for the first quarter of FY27, driven by strong export demand and record order inflows that pushed its order book to an all-time high.
The company posted revenue of Rs. 382 crore for the quarter ended June 30, 2026, while EBITDA rose 1.4% year-on-year to Rs. 90 crore translating into an EBITDA margin of 23.5%. Profit after tax (PAT) remained steady at Rs. 61 crore with a PAT margin of 15.9%.
Exports continued to be a key growth driver, contributing 58% of total revenue at Rs. 222 crore, reflecting sustained international demand for the company's cryogenic equipment and engineering solutions.
The company secured record quarterly order inflows of Rs. 532 crore, taking its total order book to Rs. 1,686 crore. Export orders now exceed Rs. 1,140 crore, providing strong revenue visibility for the coming quarters and underscoring healthy demand across industrial and clean energy sectors.
The Industrial Gases division accounted for 53% of quarterly revenue. During the period, INOX India secured a major order from the space exploration industry for large cryogenic storage tanks, followed by an additional order for six more tanks from the same customer, strengthening its position in the global aerospace cryogenic infrastructure market.
The disposable cylinder business continued to receive healthy repeat orders from international customers. The company also entered the semiconductor infrastructure segment by securing its first orders for transportation tanks for semiconductor manufacturing facilities in Dholera. Meanwhile, its Cryoseal liquid cylinder business gained further traction in India, supported by an expanding dealer network and increased manufacturing automation.
The LNG division contributed 22% of quarterly revenue. Lower global LNG prices improved the economics of LNG as a transportation fuel, leading to renewed investments in LNG fuelling infrastructure. During the quarter, the company secured multiple orders for LNG fuelling stations while reinforcing its leadership in the LNG semi-trailer segment.
INOX India also commenced installation activities after delivering the first batch of large storage tanks for a mini-LNG terminal project in The Bahamas. The project's early success has opened up new opportunities for satellite LNG stations.
The Cryo Scientific Division (CSD) contributed 20% of total revenue during the quarter. INOX India secured a prestigious order from CERN to manufacture highly specialized cryogenic modules for one of the world's most advanced particle physics research facilities, marking its entry into another globally renowned scientific institution. The company also received a repeat order from ITER, France, further strengthening its position in advanced scientific cryogenic engineering.
In the stainless-steel keg business, the company continued executing orders for leading global customers while expanding relationships with strategic brewery partners. Its approved customer base now includes Heineken, AB InBev and Molson Coors, representing more than 40% of global beer market volumes. The company also expanded its portfolio of specialized non-standard keg variants.
Among other strategic developments during the quarter, INOX India entered into a partnership with WAYOUT, Sweden, to manufacture modular water micro-factories in India, extending its capabilities into sustainable industrial solutions.
The company also received the AS9100D aerospace quality certification, enabling it to manufacture aerospace components for onboard flight applications and significantly expanding its addressable aerospace market.
Additionally, INOX India partnered with ITM SLS Baroda University to establish a dedicated skill development centre focused on semiconductor pipeline fabrication and orbital welding, supporting India's Semiconductor Mission.
Commenting on the results, Deepak Acharya, Chief Executive Officer – INOX India Limited, added, “Q1 FY27 marks another milestone quarter for INOX India, highlighted by our highest-ever quarterly order inflow of approximately ₹532 crore, taking our current order book to a record ₹1,686 crore.
"Our export order book now exceeds ₹1,140 crore, reflecting the growing global acceptance of our engineering capabilities and providing strong revenue visibility for the coming quarters. The Quarter witnessed stronger presence in high-growth segments through repeat orders from the aerospace industry, our entry into India's semiconductor ecosystem, prestigious orders from CERN and ITER, and continued progress across LNG infrastructure projects."
He added: "We also received the AS9100D aerospace quality certification, enabling us to expand our participation into onboard aerospace applications, while our partnerships in semiconductor skill development and sustainable water solutions reinforce our focus on building new growth platforms.
"Backed by a record order book, diversified end markets, expanding global footprint and continued investments in technology and manufacturing capabilities, we remain confident of delivering sustainable long-term growth and creating enduring value for our stakeholders.”
