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INOX India Ltd has announced its unaudited financial results for the first quarter ended June 30, 2025, reporting solid performance across all key business segments. The company posted a 18.9% year-on-year increase in Profit After Tax (PAT), reaching ₹61 crore for Q1 FY26. Revenue for the quarter rose 16.7% YoY to ₹352 crore, while EBITDA grew 19.4% to ₹89 crore.Deepak Acharya, Chief Executive Officer, INOX India Ltd said, “FY26 has begun on a strong note, with robust order inflows across all divisions. Our Industrial Gases business saw healthy growth, marked by breakthrough orders like India’s first UHP Ammonia ISO containers and a pioneering CO₂ battery project. The LNG division continued its growth trajectory with supply of large number of LNG Fuel tanks to OEMs in India. We are committed to become a key catalyst in the LNG mobility space, and have therefore laid out plans for capacity expansion to meet rising demand for LNG fuel tanks. In the Cryo-Scientific space as well, we secured a ₹145 Cr order for the Cryostat Thermal Shield repair under the ITER project, further deepening our role in global fusion energy. Renewed approvals from brewing majors and entry into new markets are driving momentum in our Keg division. With a diversified portfolio and strong market tailwinds, we are confident of sustaining growth throughout FY26.”
Exports Drive Growth
Exports contributed 56% of the total revenue for the quarter, amounting to ₹198 crore, highlighting sustained global demand for INOXCVA’s cryogenic solutions. New order inflows stood at ₹415 crore, taking the company’s total order book to ₹1,457 crore—a clear indicator of market confidence in the company’s industrial gases and clean energy offerings.
Industrial Gases Division
Accounting for 48% of total revenue, the Industrial Gases segment saw robust demand and order inflows. Key highlights include India’s first Ultra High Purity (UHP) ammonia ISO containers, aimed at supporting the semiconductor and solar supply chain. The company also secured orders for a first-of-its-kind CO₂ Battery project focused on long-duration energy storage, and strong demand from the U.S. for disposable cylinders despite elevated import tariffs. Growth in this division was powered by high-purity applications, export strength, and tariff mitigation strategies.
LNG Segment
Contributing 29% to overall revenue, the LNG division recorded strong order flow, particularly for fuel tanks supplied to major OEMs in India. The momentum reflects growing adoption of LNG technologies and favorable regulatory support. Capacity expansion is underway to meet rising demand, particularly from fleet operators and OEMs. The segment is well-positioned for continued growth amid positive policy tailwinds.
Cryo Scientific Division (CSD)
Building on the successful delivery of the Vacuum Vessel Thermal Shield (VVTS), INOXCVA secured a significant ₹145 crore order for Cryostat Thermal Shield (CTS) refurbishment for the ITER nuclear fusion project. With 90% of fabrication to be done in-house and on-site work managed by INOXCVA teams, this contract strengthens the company’s long-term role in high-tech global science initiatives.
Keg Division
The Keg Division is seeing renewed traction, with recent approvals from global brewing leaders Heineken and AB InBev, as well as two Brazilian breweries. A major order from a German client also signals renewed growth. INOXCVA is actively scaling up its sales and distribution network across key markets to capitalize on this momentum.
