INOX India Ltd Reports Record Revenue and Secures Key Aerospace Deal

INOX India Ltd announced record revenue for both the fourth quarter and the full fiscal year 2026. The company's Q4 FY26 revenue reached ₹475 crore, marking a 24.2% increase year-on-year. For the full fiscal year, revenue climbed to an all-time high of ₹1,632 crore, up 21.2% from the previous year.

Adjusted EBITDA for Q4 FY26 was ₹108 crore, a 13.4% rise year-on-year, and ₹388 crore for the full fiscal year, up 20.2%. Adjusted Profit After Tax (PAT) stood at ₹72 crore in the quarter (up 9.0% YoY) and ₹261 crore annually (up 19.3%).

The company recommended a final dividend of ₹2 per equity share for FY26, subject to shareholder approval. Order inflow in Q4 FY26 was strong at ₹504 crore, adding to a substantial order backlog of ₹1,514 crore, which provides revenue visibility for upcoming periods.

The strong financial performance reflects robust demand for INOX India's cryogenic solutions across multiple sectors. Notably, the company secured a significant order from a leading US private space company. To support future growth, INOX India acquired land at Kandla for a fifth manufacturing facility, aiming to scale up production capacity. The company also marked milestones in its Transport Equipment segment, selling over 300 units, and saw progress in its Beverage Keg Division.

This expansion follows INOX India's Initial Public Offering (IPO) in December 2023, which raised approximately ₹740 crore. The company has been actively expanding its manufacturing footprint to meet growing domestic and international demand for its cryogenic equipment.

In comparison, Linde India, a competitor in the industrial gases sector, reported FY25 consolidated revenue of ₹2,717 crore and PAT of ₹377 crore. INOX India's specialized focus on cryogenic equipment manufacturing and its Q4 FY26 revenue growth of 24.2% highlight its distinct market position.