Highlights

• INOX India reports highest-ever annual revenue of Rs 1,632 crore during FY26 financial year.
• Q4FY26 order inflow reaches record Rs 504 crore led by export and LNG projects.
• INOXINDIA shares gain nearly 2% after quarterly business and order backlog updates.

INOX India Limited (NSE:INOXINDIA) reported its Q4 FY26 and FY26 financial performance on May 12, 2026, highlighting record revenue, order inflows and export business growth. The company operates across industrial gas, LNG and cryo-scientific divisions with exports spanning more than 100 countries.

Financial Performance

INOX India reported FY26 consolidated revenue of Rs 1,632 crore, reflecting growth of 21.2% year-on-year. Adjusted EBITDA stood at Rs 388 crore, while adjusted PAT came at Rs 261 crore during FY26.

For Q4 FY26, revenue stood at Rs 475 crore against Rs 383 crore in Q4 FY25. Adjusted EBITDA was Rs 108 crore versus Rs 95 crore in the corresponding quarter last year. Adjusted PAT for the quarter stood at Rs 72 crore compared to Rs 66 crore in Q4 FY25.

The company stated that FY26 EBITDA margin stood at 23.8%, while PAT margin was 16.0%.

Segment Performance

Industrial Gas remained the largest contributor to revenue with 54% share during FY26. LNG contributed 28%, while Cryo-Scientific division accounted for 14%.

During Q4 FY26, LNG segment contribution increased to 32% of revenue compared to 19% in Q4 FY25. Export revenue reached Rs 291 crore in Q4 FY26 against Rs 205 crore in Q4 FY25. The company also reported highest-ever LNG segment revenue of Rs 457 crore during FY26.

Source: Company Filing

Order Book and Project Updates

Order backlog stood at Rs 1,514 crore as of March 2026 compared to Rs 1,356 crore in the previous year period. Q4 FY26 order inflow stood at Rs 504 crore.

INOX India received a high-value order from a US-based space company for large-size tanks. The company also received an order from Cochin Shipyard for marine LNG fuel tanks linked to LNG vessels.

The company dispatched the first lot of 1,500 M3 tanks for the Bahamas mini LNG terminal project during the quarter.

Growth Drivers

INOX India highlighted opportunities in LNG, hydrogen and fusion energy-related cryogenic infrastructure. The company noted rising global LNG demand and increasing adoption of LNG in transportation, marine fuel and industrial applications.

The presentation also highlighted opportunities linked to India’s National Green Hydrogen Mission and global hydrogen infrastructure development.

Balance Sheet Position

The company stated that it remains net debt free with approximately Rs 257 crore free cash available as of March 2026. Management indicated that existing liquidity and internal accruals support ongoing expansion and manufacturing investments.

Share Performance

INOX India shares traded at Rs 1,453.80 on May 14, 2026, up 2.03%. The stock opened at Rs 1,449.00 and touched an intraday high of Rs 1,508.60. Previous close stood at Rs 1,424.90, while VWAP during the session was Rs 1,480.06.

Source: Trading View

Key Risks

• LNG project execution delays could affect revenue recognition and operating margins.
  • Higher employee and manufacturing costs may impact profitability during expansion phase.
  • Export market fluctuations may influence order inflow and international business visibility.
  • Dependence on infrastructure and energy investments may impact long-term demand cycles.

Summary

INOX India (NSE:INOXINDIA) reported record FY26 revenue of Rs 1,632 crore alongside increased LNG contribution and export growth. Q4FY26 order inflow reached Rs 504 crore, while order backlog stood at Rs 1,514 crore. The company highlighted opportunities across LNG, hydrogen and cryogenic infrastructure segments. INOXINDIA shares gained nearly 2% following the quarterly business and financial performance announcement.

FAQs

Q: What was INOX India’s FY26 revenue figure?
A: INOX India reported consolidated FY26 revenue of Rs 1,632 crore during the financial year.

Q: How large is INOX India’s current order backlog?
A: The company reported order backlog of Rs 1,514 crore as of March 2026.

Q: Why did INOXINDIA shares gain after Q4FY26 results?
A: Shares rose following record revenue, order inflows and LNG segment business growth updates.