INOX India Ltd delivered robust financial performance in the March quarter of FY26, with consolidated net profit rising 15% to ₹75.23 crore compared to ₹65.51 crore in the same quarter of the previous year. According to an exchange filing, this growth was primarily driven by higher income generation during the quarter, as reported by INOX India Ltd. The increase in profitability demonstrates the company's strong market position and operational efficiency in the specialized cryogenic manufacturing sector.
The company achieved its highest-ever quarterly revenue of ₹475 crore in Q4 FY26, representing a substantial 24.2% year-on-year increase from ₹382.53 crore recorded in Q4 FY25. As reported by INOX India Ltd, EBITDA rose 13.4% to ₹108 crore while PAT increased 9% to ₹72 crore for the quarter. Exports contributed significantly to this growth, making up 61% of revenue at ₹291 crore, highlighting the company's strong international market presence and successful execution of its global expansion strategy.
For the complete FY26 financial year, INOX India delivered exceptional performance with revenue rising to ₹1,632 crore, a 21.2% increase from the previous year. The company's EBITDA climbed 20.2% to ₹388 crore while PAT rose 19.3% to ₹261 crore for the full year. Export performance remained strong with exports reaching ₹971 crore, up 37.7%, contributing 59% of total revenue for the full year. The Board recommended a dividend of ₹2 per share, subject to approval, reflecting confidence in the company's financial position and growth prospects.
Despite strong revenue growth, INOX India faced significant cost pressures during FY26. Employee benefit expenses surged by 32.6% year-on-year, significantly outstripping revenue growth and suggesting a bloating cost structure. Additionally, overhead expenses jumped 20% to ₹400.94 crore, indicating that aggressive global expansion is bringing higher fixed costs. These cost headwinds contributed to the reported PAT growth of 14.1% lagging behind revenue growth, though the company maintained its debt-free status with minimal finance costs of ₹9.23 crore.
The company strengthened its global footprint by acquiring land at Kandla for a new manufacturing facility, marking its fifth manufacturing site globally. INOX India secured significant orders including a US aerospace cryogenic order from a leading private space company, LCNG orders from Gujarat Gas, and LNG marine fuel tanks for Cochin Shipyard. The company also strengthened partnerships with global breweries such as Heineken, AB InBev, and Molson Coors in its Beverage Keg business. Industrial Gases contributed 50% of Q4 revenue, LNG 32%, Cryo-Scientific 12%, and Beverage Keg 6%.
