INOX India Limited has announced its audited financial results for the fourth quarter and full financial year ended March 31, 2026, reporting its highest-ever quarterly and annual revenues, supported by strong export demand, rising order inflows, and expanding opportunities across LNG infrastructure, aerospace, industrial gases, and scientific projects.
The company reported Q4 FY26 revenue of ₹475 crore, marking a 24.2% year-on-year increase compared to ₹383 crore in Q4 FY25. Adjusted EBITDA for the quarter rose 13.4% YoY to ₹108 crore, while adjusted profit after tax (PAT) increased 9% YoY to ₹72 crore.
Exports continued to remain a major growth driver during the quarter, contributing 61% of total revenue at ₹291 crore. INOX India also secured fresh order inflows worth ₹504 crore during the quarter, taking its total order backlog to ₹1,514 crore.
For the full financial year FY26, the company recorded its highest-ever annual revenue of ₹1,632 crore, reflecting a 21.2% YoY growth. Adjusted EBITDA increased 20.2% YoY to ₹388 crore, while adjusted PAT rose 19.3% YoY to ₹261 crore. Annual export revenue stood at ₹971 crore, up 37.7% compared to the previous year.
The Board of Directors has recommended a dividend of ₹2 per share for FY26, subject to shareholder approval.
The Industrial Gases Division contributed 50% of overall Q4 revenue, supported by strong export demand and growth across transport tanks, liquid cylinders, and Cryoseal products. During the quarter, the company secured a major aerospace-related order from a US-based private space company for large cryogenic storage tanks, strengthening its position in the global aerospace cryogenic infrastructure segment.
INOX India also crossed a key operational milestone during FY26, with annual sales of transport tanks and semi-trailers surpassing 300 units for the first time. In the disposable cylinders business, the company dispatched more than 2 million units during the year despite tariff-related challenges in the US market.
The LNG Division accounted for 32% of Q4 revenue and witnessed strong momentum across LNG infrastructure and mobility applications. During the quarter, the company secured an LNG marine fuel tank order from Cochin Shipyard Limited for LNG-powered vessels being developed for a global shipping company. The order includes six LNG fuel tanks with 800 cubic meter capacity each.
INOX India also received an LCNG station order from Gujarat Gas Limited and continued dispatches of LNG fuel tanks to automotive OEMs. The company stated that over 250 LNG semi-trailers manufactured by it are currently operational across India.
Additionally, the company dispatched the first batch of 5×1,500 cubic meter tanks for the Bahamas Mini LNG Terminal project, highlighting its capabilities in executing large-scale LNG infrastructure developments.
The Cryo-Scientific Division contributed 12% of quarterly revenue. During the quarter, the company secured a repeat order from ITER, France, related to cryostat panel modification work for the international fusion energy project. The company also completed manufacturing of a specialized liquid oxygen tank for submarine-related applications.
The Beverage Keg Division contributed 6% of quarterly revenue and witnessed significant international expansion during FY26. Keg sales volumes increased 31% year-on-year, supported by approvals from major global breweries. INOX India supplied beverage kegs to Heineken breweries in Bulgaria, Croatia, and Reunion Island, while also securing its first order from Molson Coors Beverage Company in the United States.
The company said it has now received approvals from leading brewers including Heineken, Anheuser-Busch InBev, and Molson Coors Beverage Company, representing more than 40% of the global beer market.
As part of its expansion strategy, INOX India has acquired land at Kandla for developing a new manufacturing facility, which will become the company’s fifth manufacturing location after Kalol, Savli, Silvassa, and its existing Kandla facility.
Commenting on the performance, Deepak Acharya said the company remains optimistic about opportunities across LNG infrastructure, aerospace, clean energy, scientific infrastructure, and advanced cryogenic applications, supported by its expanding global footprint and growing portfolio of high-value engineered products.
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