INOX India Limited — PPTs, 05-11-2025: Investor Presentation

INOX India posted robust consolidated financial results for Q2FY26 & H1FY26.

**1. Business Performance:**

The company delivered its highest-ever H1FY26 sales of ₹723 Cr, with Q2FY26 revenue growing 15.9% YoY to ₹371 Cr. Consolidated PAT for Q2FY26 jumped 24% YoY to ₹62 Cr, driven by strong export performance which accounted for 57% of revenue. The LNG division showed significant growth, contributing over ₹190 Cr to H1FY26 sales and boosting its backlog.

**2. Growth Drivers or Strategy:**

INOX India is heavily focused on the clean energy transition, capitalizing on soaring demand for cryogenic hydrogen, rising global LNG consumption (especially small-scale and mini-LNG terminals for islands), and the emerging fusion energy sector. Their strategy involves continuous innovation and end-to-end solutions in these high-growth areas.

**3. Recent Developments:**

Key wins include a large 1500 M³ tank order from a US space company, a significant SS Keg order from a German firm, an additional repair order for ITER, and an LNG regasification project for the Bahamas islands. They also secured an LH2 Tank order for the semiconductor industry.

**4. Key Financial Metrics:**

H1FY26 saw highest sales (₹723 Cr), highest EBITDA (₹180 Cr), and highest order backlog (₹1485 Cr). Q2FY26 EBITDA rose 17.9% YoY to ₹92 Cr.

**5. Management Commentary / Outlook:**

INOX boasts a strong, net debt-free balance sheet with approximately ₹221 Cr in free cash. This strong financial position and growing order book provide significant potential for aggressive growth without balance sheet stress, supported by their extensive product development and engineering focus.