INOX India Ltd Reports Record Q3 FY26 Revenue and Strong Export Growth

INOX India Ltd (INOXCVA) has announced its unaudited financial results for the third quarter ended 31 December 2025, registering strong growth across revenue, profits, and exports. The results were approved by the Company’s Board of Directors.

For Q3 FY26, the Company reported a 32.4% year-on-year increase in adjusted Profit After Tax (PAT) to ₹68 crore, while quarterly revenue rose 27.4% YoY to ₹436 crore. Adjusted EBITDA stood at ₹102 crore, up 34.2%, marking the Company’s highest-ever quarterly revenue and EBITDA performance.

Exports remained a key driver, with international revenue reaching ₹271 crore, accounting for 62% of total revenue, reflecting robust global demand for its industrial and engineered products. INOX India also secured ₹392 crore in new orders, taking the total order book to ₹1,457 crore, signalling strong market confidence.

Nine-Month Performance (FY26)

During the nine months ended 31 December 2025, the Company recorded:

• Adjusted PAT: ₹189 crore, up 23.7% YoY
• Adjusted EBITDA: ₹281 crore, up 23% YoY
• Revenue: ₹1,157 crore, up 20% YoY
• Exports: ₹679 crore, up 35.8% YoY, contributing 59% to total revenue

Segment Highlights

• Industrial Gases (IG) Division: Contributed 59% of quarterly revenue, boosted by international orders including cryogenic storage tanks for a leading US aerospace customer, 20,000 liquid nitrogen containers under the Cryoseal brand, and over 7 lakh disposable cylinders for a major US client.
• LNG Division: Representing 25% of revenue, the segment secured LNG marine fuel tank orders from a European customer and storage tank orders for a South Korean LNG terminal project. Domestic LNG semi-trailers exceeded 250 units, capturing over 85% market share, and a fully automated LNG fuel tank production line was commissioned at Kalol.
• Cryo Scientific Division (CSD): Contributed 13% of revenue, receiving repeat orders from ITER, France, for complex cryogenic and scientific infrastructure projects. Milestones included cooling the Magnet Cold Test Bench to 4 Kelvin and installing Sector 3 inside the Tokamak pit.
• KEG Division: Contributed 1.4% of revenue, receiving its first-ever order from Heineken and approval from Molson Coors in the US. With approvals from AB InBev, the Company now partners with global breweries representing over 40% of the international beer market.

CEO Comment

Deepak Acharya, CEO, INOX India Ltd, said:
“Our Q3 and 9M FY26 results reflect sustained execution across diversified businesses, robust order inflows, and growing global acceptance of our engineered cryogenic solutions. Key wins in aerospace cryogenic tanks, LNG projects, and ITER repeat orders demonstrate market confidence. Strategic progress in our Beverage Kegs business strengthens long-term growth visibility. With strong exports and an expanding global footprint, we are well-positioned to capitalize on opportunities across clean energy, scientific research, and industrial gases.”

Awards and Recognition

The Company was honoured at the inaugural Gasworld Global Innovation Awards, Bangkok, receiving:

• Most Impactful ESG Initiative – for sustainable growth initiatives
• Innovation in Distribution – for launching India’s first ultra-high purity Ammonia ISO tank container

Consolidated Q3 & 9M FY26 Financial Highlights (₹ crore)

INOX India Ltd’s performance highlights strong international demand, successful execution across business segments, and growing confidence in its engineered industrial and clean energy solutions.