INOX India Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

INOX India posted Q4 revenue of INR383 Cr (+33% YoY), EBITDA at INR95 Cr (+52%), and PAT of INR66 Cr (+55%). FY '25 revenue grew 16.2% to INR1,354 Cr, EBITDA by 18.3% to INR330 Cr, and PAT 15.4% to INR224 Cr. The order book is strong at INR1,356 Cr, with 64% exports.

Industrial Gas orders jumped 25.5% QoQ aided by a key Australia contract. LNG segment advanced with 36 IMO containers and growing demand for Gen 2 fuel tanks and conversions. Cryo Scientific marked India’s first indigenous MRI and won major global contracts. Stainless steel kegs crossed 50,000 units with certifications from ABInBev and Heineken.

Management sees semiconductor projects, steel, and healthcare driving IG growth; LNG and Cryo outpacing IG. FY ’26 revenue growth is expected at 18-20%, with EBITDA margins of 22-24%. Capex guidance is INR80 Cr. Growth visibility remains strong, supported by innovation and global expansion in clean energy and medical tech.