Inox India
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
Management at INOX India has expressed confidence in the company's growth trajectory, bolstered by a record-high order book and strategic advancements in high-value sectors such as aerospace and semiconductors. Despite facing temporary logistical challenges that impacted Q1 dispatches, the company maintains its guidance for 18-20% annual revenue growth, supported by the upcoming commissioning of the Kandla facility and a focus on high-margin, non-standard products. Vista's financial outlook reflects a cautious stance, anticipating revenue contraction over the forecast period, while margins are expected to remain stable. The premium valuation of the stock, coupled with competitive pricing pressures in the industrial machinery sector, suggests limited upside potential. However, the ongoing transition towards advanced engineering applications and the strong order visibility provide a solid foundation for future growth. Over the next 12-24 months, key opportunities include expanding into specialized markets and leveraging technological advancements, while watchpoints include execution risks related to new manufacturing capacities and potential margin compression due to competitive pressures
Why We Like This Stock
- Record-high order book and strategic focus on high-value sectors like aerospace and semiconductors
- Management's commitment to 18-20% annual revenue growth supported by new facility commissioning
- Strong demand in LNG and clean energy sectors enhances market sentiment
Things To Watch Out For
- Revenue is expected to contract over the forecast period, indicating potential challenges ahead
- The stock trades at a premium valuation, limiting upside potential
- Ongoing global logistics volatility and competitive pricing pressures may impact margins
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 1,133 | 1,306 | 1,587 | 1,517 | 1,637 |
| Profit Before Tax (Cr.) | 258 | 292 | 345 | 325 | 356 |
| PBT Margin | 22.8% | 22.4% | 21.7% | 21.5% | 21.8% |
| Net Profit (Cr.) | 196 | 223 | 259 | 243 | 266 |
| Earnings Per Share | 21.6 | 24.6 | 28.5 | 26.8 | 29.3 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Moneycontrol | ▲ Overweight | — | 04-Sep-2026 |
| ICICI Securities | ► Add | — | 05-Aug-2026 |
Company Overview
Show Company Profile
INOX India Limited manufactures and supplies cryogenic liquid storage and transport tanks for gas companies and engineering, procurement, and construction (EPC) companies in India and internationally. The company offers industrial gas equipment comprising storage and transport tanks, microbulk units, vaporizers and piping, and oil and gas equipment. It also provides liquid nitrogen containers, bio-series containers, and low-pressure storage tanks; cylinders for gases, including refrigerants, LPG, and helium balloon cylinders. In addition, the company offers cryogenic process technologies; cryogenic propulsion systems and research; and satellite and launch facilities, as well as fusion and superconductivity. Further, it engages in the installation of equipment and systems for cryogenic conditions, standard cryogenic tanks and equipment, bespoke technology, equipment and solutions, as well as the operation of projects used in industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, construction, and pharmaceuticals. The company serves aviation and aerospace, construction and cement, cryo scientific research, dairy and livestock, electronics, fertilizer and chemical, food and beverages, material handling, glass and ceramics, health care and life sciences, hydrogen, industrial gas, LNG and LCNG, metal processing, oil and gas, refining, petrochemical, paper and pulp, pharmaceuticals, power and utilities, rubber, steel and mining, and water and water treatment sectors. INOX India Limited was incorporated in 1976 and is headquartered in Vadodara, India.