
Industrial Products
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Profitability: Very strong Profitability. One year profit margin are 16%.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Growth: Good revenue growth. With NA% growth over past three years, the company is going strong.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
No major cons observed.
Valuation | |
|---|---|
| Market Cap | 10.72 kCr |
| Price/Earnings (Trailing) | 43.18 |
| Price/Sales (Trailing) | 6.96 |
| EV/EBITDA | 29.37 |
| Price/Free Cashflow | -3.5 K |
| MarketCap/EBT | 32.62 |
| Enterprise Value | 10.78 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 1.54 kCr |
| Rev. Growth (Yr) | 27.4% |
| Earnings (TTM) | 248.16 Cr |
| Earnings Growth (Yr) | 4% |
Profitability | |
|---|---|
| Operating Margin | 22% |
| EBT Margin | 21% |
| Return on Equity | 25.32% |
| Return on Assets | 13.09% |
| Free Cashflow Yield | -0.03% |
Growth & Returns | |
|---|---|
| Price Change 1W | 1.5% |
| Price Change 1M | 4.5% |
| Price Change 6M | 1.6% |
| Price Change 1Y | 14.9% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -139.19 Cr |
| Cash Flow from Operations (TTM) | 121.95 Cr |
| Cash Flow from Financing (TTM) | 17.15 Cr |
| Cash & Equivalents | 25.74 Cr |
| Free Cash Flow (TTM) | -3.07 Cr |
| Free Cash Flow/Share (TTM) | -0.34 |
Balance Sheet | |
|---|---|
| Total Assets | 1.9 kCr |
| Total Liabilities | 915.04 Cr |
| Shareholder Equity | 980.19 Cr |
| Current Assets | 1.47 kCr |
| Current Liabilities | 885.78 Cr |
| Net PPE | 384.03 Cr |
| Inventory | 567.98 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.05 |
| Debt/Equity | 0.09 |
| Interest Coverage | 46.65 |
| Interest/Cashflow Ops | 17.87 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 2 |
| Dividend Yield | 0.18% |
| Shares Dilution (1Y) | 0.00% |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Profitability: Very strong Profitability. One year profit margin are 16%.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Growth: Good revenue growth. With NA% growth over past three years, the company is going strong.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
No major cons observed.
Investor Care | |
|---|---|
| Dividend Yield | 0.18% |
| Dividend/Share (TTM) | 2 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 27.34 |
Financial Health | |
|---|---|
| Current Ratio | 1.66 |
| Debt/Equity | 0.09 |
Technical Indicators | |
|---|---|
| RSI (14d) | 58.3 |
| RSI (5d) | 67.32 |
| RSI (21d) | 57.83 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
Summary of INOX India's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the recent earnings call for Q3 FY '26, management provided a positive outlook for INOX India Limited, emphasizing a robust macroeconomic environment and strong business momentum. The management noted that India's GDP growth for FY '25-26 is projected at 7.4%, up from 6.2% the previous year, supported by resilient consumption and steady investment activity.
Key forward-looking points highlighted by management include:
Strong Order Pipeline: The company has a healthy order backlog of INR 1,457 crores, with 63% derived from exports and 37% from the domestic market, providing strong revenue visibility. They expect to maintain a quarterly order inflow of around INR 450 crores, driven by both regular contracts and larger value orders.
Growth Areas: INOX India anticipates significant growth in its LNG segment, bolstered by increasing adoption of LNG for diverse applications. They reported over 250 LNG semi-trailers operating in India, claiming over an 85% market share.
Market Share Expansion: Management stated intentions to expand their share in high-value engineering products and new customer segments, particularly in the aerospace and scientific infrastructure sectors. Recent orders from a U.S. aerospace company for cryogenic storage tanks exemplify this focus.
Profitability Projections: For FY '27, the guidance for revenue growth is set at 18% to 20%, with optimism regarding continued operational excellence and market opportunities.
Financial Performance: The Q3 total income was INR 436 crores, a rise of 27% year-on-year. The management said that the export revenue for the quarter reached INR 271 crores, representing the highest-ever quarterly export performance.
Strategic Initiatives: Management emphasized ongoing innovation and customer engagement as central to sustaining growth momentum, alongside efforts to enhance capacity through new installations like an automated production line for LNG tanks.
Overall, the management's confidence in sustained growth is underpinned by strong order metrics and focused strategies aimed at market expansion and product development.
Question: When can we expect order inflow above INR450 crores on a consistent basis?
Answer: We are optimistic about increasing order flow. Substantial results are expected in Q4 and early next fiscal year from high-value orders that did not materialize in Q3. We anticipate a consistent flow above INR450 crores with a combination of standard orders around INR300 to INR350 crores and larger orders pushing us past INR500 crores.
Question: Are we on track to achieve the execution target of INR900 crores in the second half of FY '26, translating to about INR470 crores in Q4?
Answer: We are indeed on track, and I believe we might even perform better than that target. Our operational momentum has been strong, and we have a robust order backlog contributing to that execution.
Question: Could you explain the recent gross margin drop? Is it due to rising commodity prices?
Answer: The gross margin fluctuations are typically within 1-3%. Commodity prices generally don't impact us significantly because large orders usually come with pricing formulas that adjust automatically. However, small orders without such formulas might face a minor impact.
Question: What is the demand outlook for LNG fuel tanks on the OEM side for the next quarters?
Answer: LNG fuel tank business is smaller relative to our LNG fueling stations, where we hold 85% market share. As the demand evolves, we're enhancing our capacity for LNG fuel tanks and have received substantial orders recently, indicating a positive outlook for Q4.
Question: Has INOX participated in any significant space initiatives like Vikram-1?
Answer: Yes, we have ongoing projects with ISRO. We supplied ground equipment for the second launch pad and are participating in various upcoming initiatives. RFQs for lunar projects are also expected soon, placing us in a strong position in this sector.
Question: Can you confirm if our contracts have a cap on commodity price pass-through to customers?
Answer: The contracts have defined escalation formulas allowing adjustments for commodity price fluctuations, typically accommodating a 3% variation. However, fixed contracts do not allow for such pass-through since we book materials upfront based on confirmed orders.
Question: What was the order inflow in Q3 and what target are you setting for FY '26?
Answer: The order inflow for Q3 was INR392 crores. We expect to meet our FY '26 target of around INR1,700 crores, maintaining our strategic focus and growth trajectory.
Question: Could you provide insights on the performance of the kegs division and future orders?
Answer: In Q4, we aim for total sales of around 60,000 to 70,000 kegs, with ongoing orders from Heineken and additional opportunities in the pipeline. We currently have an order book of approximately 67,000 units.
Question: What are the expected margins for the LNG segment?
Answer: Current LNG projects indicate slight improvements in margins due to recent currency fluctuations favoring our export orders. As we dispatch these in Q4, I expect a marginal boost in our overall profitability.
Question: Can you share updates on our capabilities with respect to semiconductor projects?
Answer: We have successfully delivered tanks and related equipment to semiconductor facilities, with projects in Assam valued at around INR8 crores. We're seeing steady engagement in this space as we pursue more projects, positioning us uniquely in this growing market.
Understand INOX India ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| SIDDHARTH JAIN | 34.13% |
| PAVAN KUMAR JAIN | 16.42% |
| NAYANTARA JAIN | 15.72% |
| LATE DEVENDRA KUMAR JAIN | 5.94% |
| ICICI PRUDENTIAL ELSS TAX SAVER FUND | 2.36% |
| GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY P | 2.16% |
| ISHITA JAIN | 1.4% |
| LATA MADHUSUDAN RUNGTA | 0.63% |
| Araadhya Jain | 0% |
| Varenyaa Jain | 0% |
| Nairiti Jain | 0% |
| Shreyasi Goenka | 0% |
| Kiran Kheruka | 0% |
| Pradeep Kheruka | 0% |
| Chandralekha Roongta | 0% |
| Kusum Mittal | 0% |
| Minal Somany | 0% |
| Arunkumar Roongta (HUF) | 0% |
| Associated Fabricators LLP | 0% |
| Azalea Trading LLP | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
Detailed comparison of INOX India against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| LINDEINDIA | Linde India | 57.86 kCr | 2.53 kCr | +13.60% | +11.50% | 98.08 | 22.84 | - | - |
| THERMAX | Thermax | 37.68 kCr | 10.63 kCr | +7.20% | -4.20% | 52.23 | 3.54 | - | - |
| GUJGASLTD | Gujarat Gas | 27.24 kCr | 16.46 kCr | -4.80% | +0.50% | 23.44 | 1.65 | - | - |
Comprehensive comparison against sector averages
INOXINDIA metrics compared to Industrial
| Category | INOXINDIA | Industrial |
|---|---|---|
| PE | 43.18 | 49.35 |
| PS | 6.96 | 3.91 |
| Growth | 23 % | 9.6 % |
INOX India Limited manufactures and supplies cryogenic liquid storage and transport tanks for gas companies and other customers online in India and internationally. It also offers industrial gas equipment comprising of storage and transport tanks, microbulk units, vaporizers and piping, oil and gas equipment. In addition, the company provides cryoseal, bio-series containers, and low-pressure storage tank; cylinders for gases, refrigerants, LPG/propane, and helium balloon cylinders. Further, it offers cryogenic process technologies, cryogenic propulsion system, satellite, and launch facilities; and fusion conductivity equipment. Additionally, the company engages in the installation of equipment and systems for cryogenic conditions, standard cryogenic tanks and equipment, bespoke technology, equipment and solutions, industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, construction, and pharmaceuticals. Furthermore, it provides industrial applications, mini LNG infrastructure, horse, automotive and power applications. The company serves aviation, aerospace, construction, cement, cryo scientific research, dairy, livestock, electronics, fertilizer, chemical, food and beverages, material handling, glass and ceramics, health care and life sciences, hydrogen, industrial gas, LNG, LCNG, metal processing, oil and gas, refining, petrochemical, paper, pharmaceuticals, power and utilities, rubber, steel, mining, water treatment, and entertainment sectors. INOX India Limited was incorporated in 1976 and is based in Vadodara, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
INOXINDIA vs Industrial (2024 - 2026)