INOX India Ltd (INOXCVA) has released its audited financial results for the 4th Quarter and the year ended March 31, 2026, as approved by the Board of Directors. The Company reported its highest-ever Q4 Revenue of ₹475 Cr in Q4 FY26, registering a strong 24.2% YoY growth. Adjusted EBITDA for the fourth quarter was at ₹108 Cr, up by 13.4%, whereas Adjusted Profit After Tax (PAT) stood at ₹72 Cr for Q4 FY26, up by 9% on a YoY basis.
For the quarter, exports accounted for 61% of revenue with export sales at ₹291 Cr, reflecting continued international demand. The Company secured order inflows totaling ₹504 Cr, taking total order backlog to ₹1514 Cr, signifying positive market confidence and the potential of industrial and clean energy sectors. The Company has acquired land at Kandla for developing a new facility. This will be Company’s 5th manufacturing location, after Kalol, Savli and Silvassa, besides an existing facility at Kandla.
In the full year ended March 31, 2026, the Company reported its highest-ever annual Revenue of ₹1,632 Cr in FY26, with a robust 21.2% YoY growth. Adjusted PAT rose 19.3% YoY to ₹261 Cr; and adjusted EBITDA grew 20.2% YoY to ₹388 Cr. Exports for the full year stood at ₹ 971 Cr, up 37.7% YoY. The Board has recommended a dividend of Rs 2 per share for FY26, which will be subject to Shareholders’ approval.
The Industrial Gases Division contributed 50% to the overall revenue during Q4 FY26. The segment delivered another strong quarter supported by healthy export demand, strong order inflows, and growth across transport tanks, liquid cylinders, as well as Cryoseal products. During Q4 FY26, the Company secured a significant aerospace-related order from a leading US-based private space company for large cryogenic storage tanks, reinforcing INOX India’s growing positioning in the global aerospace cryogenic infrastructure segment.
Transport equipment achieved a major milestone during FY26, with the annual sales of transport tanks and semi-trailers crossing 300 for the first time in the Company’s history. In disposable cylinders, the Company crossed the milestone of dispatching over 2 million units during FY26 despite tariff-related challenges in the US market, reflecting sustained demand and strong execution capabilities.
The LNG Division contributed 32% to the overall revenue during the quarter. Also, the Company received a landmark LNG marine fuel tank order from Cochin Shipyard for LNG-powered vessels being built for one of the world’s leading global shipping companies. The order comprises of six LNG fuel tanks of 800 cubic meters each. The Company also received an LCNG station order from Gujarat Gas and continued dispatches of LNG fuel tanks to automotive OEMs. INOX India maintained leadership in the LNG semi-trailer segment, with more than 250 LNG semi-trailers currently operating on Indian roads. The Company also dispatched the first batch of 5×1,500 cubic meter tanks for the Bahamas Mini LNG Terminal project, reaffirming its capabilities in executing large and complex LNG infrastructure projects.
The segment witnessed its highest-ever revenue during FY26, supported by increasing opportunities across LNG infrastructure, marine LNG, and mobility applications.
During the quarter, the Cryo-Scientific Division (CSD) contributed 12% to overall revenue. The Company received a repeat order during the quarter from ITER, France, related to cryostat panel modification work, further strengthening its association with the ambitious fusion energy project, and its position in global scientific infrastructure projects. The Company also completed manufacturing of a highly complex Liquid Oxygen tank for submarine-related applications, highlighting its capabilities in advanced cryogenic engineering and defense-related systems.
The Beverage Keg Division contributed 6% to total revenue during the quarter. During FY26, the Company recorded a 31% increase in quantity of kegs sold over the previous year, supported by increasing international approvals and expanding global presence. INOX India supplied beverage kegs to Heineken breweries in Bulgaria, Croatia and Reunion Island during the year. The Company also secured its first order from Molson Coors in the United States and received repeat orders for specialized non-standard kegs from Germany. With approvals from Heineken, AB InBev and Molson Coors, the Company is now approved by global breweries representing over 40% of the global beer market.
Commenting on the Results, Deepak Acharya, Chief Executive Officer, INOX India Limited, said, “FY26 was another strong year for INOX India, driven by robust execution, healthy order inflows, rising exports, and growing global acceptance of our engineered cryogenic solutions across industrial gas, LNG, aerospace, and scientific infrastructure sectors. During the year, we secured a landmark aerospace order from a leading U.S.-based private space company, entered the LNG marine fuel tank segment through the Cochin Shipyard order, progressed on the Bahamas Mini LNG Terminal project, and continued execution of key global scientific infrastructure projects including ITER, France. These milestones further strengthen our long-term growth pipeline and global positioning. Our Industrial Gas and LNG businesses continued to witness healthy momentum across transport tanks, liquid cylinders, Cryoseal products, LNG semi-trailers, and fuel infrastructure, while the Beverage Keg business gained strong traction with leading global breweries such as Heineken, AB InBev, and Molson Coors. Looking ahead, we remain optimistic about opportunities across LNG infrastructure, aerospace, clean energy, scientific infrastructure, and advanced cryogenic applications. With our upcoming Kandla facility, expanding global footprint, and increasing share of high-value engineered products, we are well positioned to deliver scalable growth and long-term value creation.”
