INOX India has posted stellar financials for Q3 FY26, setting new benchmarks in revenue, profitability, and exports.  

The company’s adjusted PAT surged 32.4% YoY to Rs. 68 crore, while quarterly revenue jumped 27.4% to Rs. 436 crore, and adjusted EBITDA rose 34.2% to Rs. 102 crore, marking its highest-ever quarterly performance. 

Exports continued to drive growth, hitting Rs. 271 crore and accounting for 62% of total revenue, reflecting strong global demand. Order inflows reached Rs. 392 crore, lifting the total order book to Rs. 1,457 crore, signaling robust market confidence in INOX’s industrial and clean energy offerings. 

Nine-month performance mirrored the quarterly momentum. Revenue climbed 20% YoY to Rs. 1,157 crore, adjusted EBITDA rose 23% to Rs. 281 crore, and PAT grew 23.7% to Rs. 189 crore. Exports for the period reached Rs. 679 crore, 59% of total revenue. 

Segment snapshots 

Industrial Gases (IG) – Contributing 59% of quarterly revenue, the IG division won key international orders, including two 1,000 m³ cryogenic storage tanks for a US aerospace customer, ~20,000 Cryoseal liquid nitrogen containers, and over 1,700 liquid cylinders. High-value disposable cylinder orders exceeded 700,000 units from a US client, highlighting sustained demand in competitive markets. 

LNG – Representing 25% of revenue, LNG secured orders for marine fuel tanks in Europe (2 x 150 m³) and storage tanks for an African LNG terminal (2 x 500 m³). In India, semi-trailer LNG units exceeded 250 in operation, commanding 85% market share, while a fully automated LNG fuel tank line in Kalol was commissioned to meet growing OEM demand. 

Cryo Scientific Division (CSD) – At 13% of revenue, CSD won repeat orders from ITER, France, covering cryogenic installations and thermal shield refurbishment. The division successfully cooled the Magnet Cold Test Bench to 4K and completed Sector 3 installation in the Tokamak pit, achieving critical milestones in complex global scientific infrastructure projects. 

KEG Division – Contributing 1.4% of revenue, the company received its first-ever Heineken order and approval from Molson Coors (US). With approvals from Heineken, AB InBev, and Molson Coors, INOX now partners with global breweries representing over 40% of the global beer market, strengthening its international beverage kegs footprint. 

Deepak Acharya, CEO of INOX India, said, "Our Q3 & 9M FY26 performance reflects sustained execution momentum across our diversified businesses, supported by robust order inflows, deepening customer engagements, and increasing acceptance of our engineered cryogenic solutions across global markets. 

"The continued confidence in our capabilities is evident from key wins during the quarter, including cryogenic storage tank orders from a leading US-based aerospace customer, growing traction across LNG marine and terminal applications, and repeat orders from ITER, France for complex scientific infrastructure scopes.  

"The strategic progress in our Beverage Kegs business, marked by our first-ever order from Heineken and approvals from global brewing majors, further strengthens our long-term growth visibility."