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Inox India Overview

Founded in 1991, INOXCVA is a global leader in cryogenic equipment and systems. They design, engineer, manufacture, and install solutions for the storage, distribution, and transfer of cryogens across different industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, pharmaceuticals and construction. The company also offers equipment and turnkey solutions for scientific and industrial research involving cryogenic applications. INOXCVA relies on its pillar...Read More

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Inox India Key Financials

Market Cap ₹13539 Cr.

Stock P/E 59.9

P/B 13

Current Price ₹1491.7

Book Value ₹ 114.7

Face Value 2

52W High ₹1554.7

Dividend Yield 0.13%

52W Low ₹ 956

Inox India Share Price

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Volume
Price

Inox India Quarterly Price

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Inox India Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 258 291 277 296 307 334 369 340 358 429
Other Income 7 5 11 5 13 9 13 13 11 7
Total Income 265 295 288 302 320 342 383 352 369 436
Total Expenditure 199 224 223 226 243 265 288 263 280 334
Operating Profit 66 71 64 76 77 78 95 89 89 101
Interest 1 2 2 2 3 3 1 1 2 3
Depreciation 4 5 5 6 6 6 7 8 8 9
Exceptional Income / Expenses 0 0 0 0 0 7 0 0 2 -8
Profit Before Tax 60 64 58 68 69 76 86 81 81 80
Provision for Tax 14 15 14 15 19 18 21 19 20 20
Profit After Tax 46 49 44 53 49 58 66 61 61 61
Adjustments 0 0 0 0 0 0 -0 0 0 0
Profit After Adjustments 46 49 44 53 49 58 66 61 61 61
Adjusted Earnings Per Share 5.1 5.4 4.9 5.8 5.5 6.4 7.2 6.7 6.7 6.7

Inox India Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 460 433 559 643 649 595 783 966 1133 1306 1496
Other Income 5 16 13 10 43 22 21 20 31 41 44
Total Income 465 449 572 654 692 617 804 986 1165 1347 1540
Total Expenditure 478 422 523 500 516 466 615 762 883 1021 1165
Operating Profit -13 27 49 154 176 151 189 225 282 325 374
Interest 35 41 28 27 25 7 2 4 6 9 7
Depreciation 32 23 9 9 12 12 12 14 18 25 32
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 7 -6
Profit Before Tax -79 -38 11 117 138 133 174 207 258 299 328
Provision for Tax 7 -0 10 -59 46 35 44 52 62 73 80
Profit After Tax -86 -38 1 176 92 97 130 155 196 226 249
Adjustments 22 0 0 17 6 1 0 0 0 0 0
Profit After Adjustments -65 -38 1 193 98 98 130 155 196 226 249
Adjusted Earnings Per Share -7.1 -4.1 0.1 21.2 10.8 10.8 14.4 17 21.6 24.9 27.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 15% 19% 15% 0%
Operating Profit CAGR 15% 20% 13% 0%
PAT CAGR 15% 20% 20% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 47% NA% NA% NA%
ROE Average 30% 31% 30% 14%
ROCE Average 39% 41% 38% 27%

Inox India Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 70 19 19 210 279 372 502 549 649 874
Minority's Interest 0 0 0 0 0 0 0 0 0 0
Borrowings 202 213 88 59 6 0 0 0 0 0
Other Non-Current Liabilities 1 4 14 -43 15 21 22 28 31 27
Total Current Liabilities 530 587 400 443 326 294 373 570 543 753
Total Liabilities 804 824 768 674 627 687 897 1148 1223 1654
Fixed Assets 296 276 96 94 110 102 134 164 255 359
Other Non-Current Assets 103 8 80 84 3 56 10 10 21 20
Total Current Assets 406 539 367 480 505 521 743 962 936 1265
Total Assets 804 824 768 674 627 687 897 1148 1223 1654

Inox India Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 17 10 3 3 37 30 2 1 11 5
Cash Flow from Operating Activities 93 54 83 85 188 231 97 177 122 122
Cash Flow from Investing Activities -23 5 88 143 -5 -159 -75 -12 -25 -139
Cash Flow from Financing Activities -64 -55 -169 -186 -168 -96 -26 -154 -103 17
Net Cash Inflow / Outflow 6 4 2 42 15 -24 -4 11 -6 -0
Closing Cash & Cash Equivalent 10 3 2 42 30 2 1 11 5 4

Inox India Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -7.11 -4.14 0.15 21.25 10.82 10.81 14.38 17.05 21.59 24.9
CEPS(Rs) -6.03 -1.56 1.18 20.41 11.45 12.04 15.71 18.58 23.59 27.66
DPS(Rs) 0.1 0 0 0.1 0.2 0 1.5 11 11 2
Book NAV/Share(Rs) 7.73 2.11 2.14 23.09 30.79 40.99 55.34 60.54 70.92 95.6
Core EBITDA Margin(%) -3.78 2.43 6.47 22.3 20.46 21.67 21.42 21.16 22.08 21.8
EBIT Margin(%) -9.52 0.76 7.04 22.45 25.24 23.47 22.55 21.81 23.25 23.54
Pre Tax Margin(%) -16.86 -8.46 2.01 18.19 21.31 22.31 22.26 21.42 22.74 22.89
PAT Margin (%) -18.36 -8.45 0.24 27.33 14.17 16.39 16.67 16.02 17.29 17.31
Cash Profit Margin (%) -11.63 -3.2 1.91 28.79 16.01 18.37 18.22 17.46 18.89 19.23
ROA(%) -10.75 -4.61 0.17 24.39 14.14 14.84 16.48 15.14 16.53 15.71
ROE(%) -123.27 -84.03 6.95 153.59 37.61 29.93 29.85 29.42 32.85 29.91
ROCE(%) -7.51 0.58 9.33 37.28 35.68 32.58 36.1 38.46 43.78 39.4
Receivable days 37.51 54.48 67.7 77.28 83 79.68 44.5 41.76 51.01 59.46
Inventory Days 227.56 240.1 152.07 113.21 107.66 94.21 109.2 138.93 136.33 129.52
Payable days 86.38 103.54 84.63 38.92 25.6 24.51 31.06 42.84 67.28 82.94
PER(x) 0 0 0 0 0 0 0 0 56.5 40.14
Price/Book(x) 0 0 0 0 0 0 0 0 17.2 10.46
Dividend Yield(%) 0 0 0 0 0 0 0 0 0.9 0.2
EV/Net Sales(x) 1.12 1.27 0.44 0.35 0.15 -0.22 0.07 -0.05 9.77 6.95
EV/Core EBITDA(x) -39.11 20.59 5.08 1.48 0.54 -0.87 0.28 -0.19 39.31 27.92
Net Sales Growth(%) 0 -5.92 29.27 15.02 0.87 -8.37 31.61 23.4 17.34 15.23
EBIT Growth(%) 0 107.5 1075.92 265.49 13.4 -14.81 26.48 19.31 25.08 16.71
PAT Growth(%) 0 56.59 103.58 0 -47.71 6 33.87 18.58 26.67 15.32
EPS Growth(%) 0 41.88 103.58 0 -49.05 -0.17 33.06 18.57 26.67 15.32
Debt/Equity(x) 7.48 28.49 13.48 1.36 0.52 0.16 0.09 0 0.01 0.04
Current Ratio(x) 0.77 0.92 0.92 1.08 1.55 1.77 1.99 1.69 1.72 1.68
Quick Ratio(x) 0.21 0.42 0.47 0.58 1.05 1.27 1.13 0.96 0.93 1.03
Interest Cover(x) -1.3 0.08 1.4 5.27 6.43 20.35 75.96 57.16 46.46 35.98
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0

Inox India Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 75 75 75 75 75 75 75 75 75 75
FII 4.65 6.14 6.38 5.84 6.52 6.84 6.94 7.12 7.14 7.13
DII 6.48 6.59 6.73 7.14 6.99 6.25 6.68 6.71 7.27 7.72
Public 13.87 12.27 11.89 12.03 11.49 11.9 11.38 11.17 10.59 10.15
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Inox India News

Inox India Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 31%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 67.28 to 82.94days.
  • Stock is trading at 13 times its book value.
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