INOX India Ltd (INOXCVA) has released its unaudited financial results for the first quarter ended June 30, 2025, as approved by the Board of Directors. The company reported 18.9% year-on-year growth in Profit After Tax (PAT) to Rs. 61 crore for Q1 FY26. Quarterly revenue stood at Rs. 352 crore, rising 16.7% YoY. EBITDA for the Quarter was at Rs. 89 crore, up by 19.4%. 

For the first Quarter, exports accounted for 56% of revenue with export sales at Rs. 198 crore, reflecting continued international demand for cryogenic solutions. The company secured order inflows totalling Rs. 415 crore, taking total order book to Rs. 1,457 crore, signifying positive market confidence and potential in industrial gases application and clean energy sectors. 

The Industrial Gases division contributed 48% to the overall revenue during the quarter. The company witnessed strong order flow this quarter, including India’s first UHP ammonia ISO containers, a product critical for strengthening the semiconductors and solar sector supply chain. The company also received an order for a pioneering CO₂ Battery project for long-duration energy storage, as well as a key disposable cylinder order from the US, despite higher import tariffs. Overall, Q1 saw steady growth in this segment, led by high-purity demand, strong exports, and effective tariff mitigation. 

The LNG segment contributed 29% to overall revenue, saw robust order flow with the supply of a large number of fuel tanks to leading OEMs in India, reflecting growing adoption and regulatory support. Capacity expansion is in progress to significantly scale production, ensuring readiness to meet rising demand from OEMs and fleet operators. The LNG Division is well-positioned for robust growth, supported by a favorable policy environment and an increasing demand, duly backed by capacity expansion. 

For Cryo Scientific Division (CSD), following the successful completion of the Vacuum Vessel Thermal Shield (VVTS), the company has secured a new order for the Cryostat Thermal Shield (CTS) refurbishment, valued at approximately Rs. 145 crore. This significantly strengthens the company's long-term involvement with the ITER project. 90% of the fabrication would be carried out in-house, besides on-site work managed by the team, ensuring continued quality and strategic growth. 

For the Keg Division, the company is witnessing a renewed interest. Approvals from global brewing giants Heineken and ABInBev, besides two breweries based in Brazil, indicate a positive signal for broader adoption of our Keg solutions. The company is working aggressively towards building a strong sales and distribution network across key markets. The company has received a large order from a German company, suggesting growth in the segment. 

Commenting on the results, Deepak Acharya, Chief Executive Officer, INOX India Ltd. said, “FY26 has begun on a strong note, with robust order inflows across all divisions. Our Industrial Gases business saw healthy growth, marked by breakthrough orders like India’s first UHP Ammonia ISO containers and a pioneering CO₂ battery project. The LNG division continued its growth trajectory with supply of a large number of LNG fuel tanks to OEMs in India." 

"We are committed to become a key catalyst in the LNG mobility space, and have therefore laid out plans for capacity expansion to meet rising demand for LNG fuel tanks. In the Cryo-Scientific space as well, we secured a Rs. 145 crore order for the Cryostat Thermal Shield repair under the ITER project, further deepening our role in global fusion energy. Renewed approvals from brewing majors and entry into new markets are driving momentum in our Keg division. With a diversified portfolio and strong market tailwinds, we are confident of sustaining growth throughout FY26,” added Acharya.