Inox India
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
INOX India Limited is navigating a complex landscape characterized by strong demand in the LNG and cryogenic sectors, as highlighted by management's optimistic guidance for 18-20% revenue growth in FY27. The company is strategically diversifying its revenue streams into high-value segments such as semiconductor equipment and aerospace components, which are expected to bolster its competitive position. However, recent margin compression and a premium valuation necessitate a cautious approach. Vista's financial outlook reflects these dynamics, projecting stable margins despite anticipated revenue contraction over the forecast period. The company's robust order book and capacity expansion at Kandla are pivotal for sustaining growth, although execution risks in new segments and competitive pressures remain watchpoints. The industrial machinery sector's favorable growth trajectory, driven by technological advancements, supports INOX's long-term prospects, despite the challenges posed by geopolitical headwinds and pricing pressures. Over the next 12-24 months, key opportunities include scaling the marine LNG segment and advancing R&D in data center cooling, while headwinds may arise from global trade complexities and margin volatility. Overall, INOX India is positioned for disciplined growth amidst a cautiously optimistic macro environment
Why We Like This Stock
- Management's guidance for 18-20% revenue growth in FY27 reflects strong demand in the LNG and industrial gas segments
- Strategic diversification into high-value sectors like semiconductor equipment and aerospace components enhances long-term growth potential
- A robust order book and capacity expansion at Kandla serve as critical growth levers
Things To Watch Out For
- Recent margin compression and premium valuation raise concerns about sustainability amidst competitive pressures
- Execution risks related to new manufacturing facilities could impact operational performance
- Geopolitical headwinds and global trade complexities may pose challenges to market sentiment
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 1,133 | 1,306 | 1,587 | 1,521 | 1,771 |
| Profit Before Tax (Cr.) | 258 | 292 | 345 | 311 | 375 |
| PBT Margin | 22.8% | 22.4% | 2173.9% | 20.5% | 21.2% |
| Net Profit (Cr.) | 196 | 223 | 259 | 232 | 280 |
| Earnings Per Share | 21.6 | 24.6 | 28.5 | 25.6 | 30.9 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| ICICI Securities | ► Add | — | 05-Aug-2026 |
| Moneycontrol | ▲ Overweight | — | 14-May-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.