NSE: INOXINDIA · BSE: 544046 · ISIN INE616N01034
INOX India Limited stock analysis
INOX India Limited ranks #704 in the TickerSutra evidence-ranked universe with a score of 61/100 and 91% data confidence. The latest captured fundamentals show ROCE of 33.5%, quarterly sales growth of 9.2% and quarterly profit growth of -5.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 33.5%
- Low debt/equity of 0.07×
- 18% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹783cr | ₹168cr | ₹130cr | 21.0% |
| 2023 | ₹966cr | ₹205cr | ₹155cr | 21.0% |
| 2024 | ₹1,133cr | ₹252cr | ₹196cr | 22.0% |
| 2025 | ₹1,306cr | ₹285cr | ₹226cr | 22.0% |
| 2026 | ₹1,587cr | ₹343cr | ₹258cr | 22.0% |
| TTM | ₹1,618cr | ₹342cr | ₹255cr | 21.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
INOX India Limited has informed the Exchange about Intimation of Cancellation of scheduled investor / analyst meet
RoutineTrading WindowBSE · 28 Sept 2026INOX India Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineAnalyst/Investor Meet Para A-XBRLNSE · 21 Sept 2026 · Structured filingINOX INDIA LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet
INOX INDIA LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet
Open original XBRL sourceIntimation of Investor Meet
MANAGEMENT COMMENTARY
Signals from filed documents
These projects continue to demonstrate our capability in delivering highly specialized cryogenic system for globally significant scientific infrastructure. Beverage keg business Our Beverage Keg bussiness continued to make steady progress during the Q1 FY27 as we further strengthen our presence across key international markets. During the quarter, we continued executing orders from the leading global customers while
Of this, over INR1,140 crores comprise export orders, underscoring our strong international presence and diversified customer base. Our liquidity continues to remain comfortable with total fund availability of INR331 crores as on 30 June '26, providing adequate financial flexibility to support ongoing project execution, capacity expansion initiatives, including the Kandla facility and other strategic growth opportuni
388 Cr, compared to Rs.323 Cr in FY25. The EBITDA Margin for FY26 was 23.8%, compared to 24.0% in FY25, reflecting operating leverage benefits on a higher revenue base alongside disciplined cost management. Profit Before Tax (PBT) PBT increased by 15.3% to Rs.
And my second question is on the non-aerospace IG business. Are you seeing any sort of market share gains in the global market with the acquisitions and consolidations that have happened? INOX India Limited August 04, 2026 Page 14 of 17 Deepak Acharya: Yes, for domestic market also, we are seeing plenty of opportunity for the steel plants.
Our strategy remains focused on strengthening our global presence, investing in technology and innovation, and expanding our product portfolio to meet the evolving needs of our customers. With our strong engineering foundation, diversified business model and experienced leadership team, we are confident in our ability to continue delivering sustainable growth and long-term value for all stakeholders. I would like to
Deepak Acharya: Actually, our delayed dispatches was basically because of the logistic issues because in the last few days, we suddenly saw a tremendous increase in the freight rates and availability of ships for the dispatches, especially to the Middle East and even to some other countries as well. So barring that, I don't think there will be big challenges on to this, maybe slightly the price increase is there, the
And we are just waiting for the order to get realized. Basically, because of these customer delays, statutory regulatory authorities approvals, and may be some impact of this geopolitical situation, the big projects are getting delayed. But we are INOX India Limited August 04, 2026 Page 10 of 17 quite hopeful that this will materialize in next one or two quarters.
And what ramp-up of -- can you give a timeline basically of utilization as well? Deepak Acharya: The kegs business is a little dicey business, I can say now with my experience, but we are now approved by a major breweries. So even we have received inquiry from Asahi as well and many other like Heineken, Anheuser-Busch InBev, and Molson Coors.
So that will reduce the carbon emissions and other things on a great extent. So this is the basic idea of developing this product and getting it manufactured in India at a, you can say, competitive pricing, which can be used in India as well as can be exported to globally in global market. That's actually a fantastic tailwind sector to be in.
Mitigation: comprehensive preventive maintenance, business continuity planning, and multi- plant production redundancy. Customer Concentration: Top 10 customers contributed 51% of FY26 revenues. Mitigation: active geographic and segment diversification; growing the mid-market customer base internationally.
Based on the review conducted during the year, management is of the opinion that the Company’s internal control system is adequate and operating effectively. 11 Investor Relations Investor Relations is a strategic function at INOX India Limited, designed to build enduring, trust-based relationships with shareholders, institutional investors, and research analysts through consistent, transparent, and timely communicat
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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