News ArticleINOX India Ltd Q2 FY27 Revenue Grows 26.6% to ₹467 Crore with Record ₹2,268 Crore Order Backlog
Profit after tax rises 7.8% to ₹66 crore in Q2 FY27 as exports contribute 60% of revenues; semiconductor and beverage sectors show new growth avenues
INOX India Ltd announced its unaudited financial results for Q2 and H1 FY27, with Q2 revenue up 26.6% year-on-year to ₹467 crore and a record order backlog of ₹2,268 crore driven by strong demand in industrial gases, LNG, cryo-scientific sectors, and new semiconductor infrastructure projects.
INOX India Ltd
General / Other
INOX India Ltd reported a 26.6% year-on-year increase in revenue to ₹467 crore for the quarter ended September 30, 2026, with profit after tax rising 7.8% to ₹66 crore. The company also achieved a record order backlog of ₹2,268 crore driven by strong demand across its industrial gases, LNG, cryo-scientific, and new semiconductor infrastructure businesses.
For Q2 FY27, EBITDA increased by 10.8% year-on-year to ₹100 crore with a margin of 21.3%. Exports accounted for 60% of the quarter’s revenue, amounting to ₹279 crore.
The Industrial Gas Solutions division contributed 61% of the revenue, with production ramping up following a manufacturing unit revamp and significant orders, particularly from the aerospace and space sectors.
The LNG Solutions segment contributed 15%, benefiting from increased demand for LNG transportation and storage infrastructure, including orders for LNG semi-trailers and fuelling stations.
The Cryo-Scientific and Advanced Engineering Solutions division contributed 17%, securing orders worth approximately ₹47 crore for specialized equipment including earthquake early-warning systems and European projects.
The Beverage Keg business saw a 446% year-on-year growth in sales on the back of a new three-year global supply agreement with a leading brewing company, targeting over 400,000 kegs for 22 countries in 2027 alone.
Highlights
- Q2 FY27 revenue rose by 26.6% YoY to ₹467 crore and H1 FY27 revenue grew 17.7% YoY to ₹849 crore.
- Profit after tax (PAT) for Q2 FY27 increased by 7.8% to ₹66 crore, with a margin of 14.2%.
- Order backlog reached a record ₹2,268 crore, including ₹1,628 crore in export orders and ₹1,100 crore from space-sector customers.
- Major business contributions: 61% revenue from Industrial Gas Solutions, 15% from LNG Solutions, 17% from Cryo-Scientific Division.
- New growth areas include semiconductor facility infrastructure projects and four LNG-powered rail mobility orders.
- Beverage keg sales grew 446% YoY with a significant new global supply deal covering 22 countries for 2027.
Key Data Snapshot
Financial performance
- Q2 FY27 total revenue increased by 26.6% year-on-year to ₹467 crore, supported by 60% export revenues.
- EBITDA rose 10.8% to ₹100 crore for Q2 FY27, with margins of 21.3%.
- Profit after tax increased 7.8% YoY to ₹66 crore in Q2 FY27.
- For H1 FY27, revenue grew 17.7% YoY to ₹849 crore with EBITDA of ₹189 crore.
- H1 FY27 PAT rose 3.6% YoY to ₹127 crore with PAT margins of 14.9%.
Operational performance
- Industrial Gas Solutions contributed 61% of revenue with increased production and key aerospace/space orders.
- LNG Solutions accounted for 15% of revenue, securing orders for LNG semi-trailers and fuelling infrastructure.
- Cryo-Scientific division contributed 17%, with orders including ₹35 crore for earthquake early-warning and ₹12 crore for European projects.
- Beverage keg business experienced 446% sales growth and secured a three-year contract for large global supply.
- Launched semiconductor-related infrastructure work in Dholera with a new orbital welding training center established.
Order and execution details
- Order inflows totaled ₹1,028 crore in Q2 FY27, lifting order backlog to ₹2,268 crore, the highest in company history.
- Export orders stand at ₹1,628 crore, ensuring strong near-term revenue visibility.
- Order backlog includes approximately ₹1,100 crore from space-sector customers.
- Completed and dispatched major tanks for Bahamas and US aerospace customers during the quarter.
Strategic context
- Company is expanding its presence in semiconductor infrastructure and LNG-powered rail mobility sectors.
- Four LNG-powered rail mobility orders have been secured, with two dispatched already.
- Beverage keg business targets four of five key global beverage players for approvals and business.
- Focus on disciplined execution, efficient working-capital management and quality control to support growth.
Highlights
- Q2 FY27 revenue rose by 26.6% YoY to ₹467 crore and H1 FY27 revenue grew 17.7% YoY to ₹849 crore.
- Profit after tax (PAT) for Q2 FY27 increased by 7.8% to ₹66 crore, with a margin of 14.2%.
- Order backlog reached a record ₹2,268 crore, including ₹1,628 crore in export orders and ₹1,100 crore from space-sector customers.
- Major business contributions: 61% revenue from Industrial Gas Solutions, 15% from LNG Solutions, 17% from Cryo-Scientific Division.
- New growth areas include semiconductor facility infrastructure projects and four LNG-powered rail mobility orders.
- Beverage keg sales grew 446% YoY with a significant new global supply deal covering 22 countries for 2027.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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