INOX India reported a 10 per cent year-on-year rise in consolidated profit after tax to Rs 67 crore in the second quarter of FY27, as revenue increased 27 per cent to Rs 456 crore on demand for cryogenic equipment, LNG infrastructure and related engineering solutions.
The company’s profit was higher than the Rs 62 crore recorded in the corresponding quarter of the previous financial year. Earnings before interest, taxes, depreciation and amortisation rose 11 per cent year-on-year to Rs 100 crore, while the EBITDA margin stood at 21 per cent.
INOX India said its order backlog crossed Rs 2,268 crore during the quarter, the highest in its history. Exports contributed 60 per cent of total revenue, underlining the company’s role in supplying specialised equipment and systems to infrastructure and industrial customers in international markets.
The Industrial Gas Solutions division remained the company’s largest business, contributing 61 per cent of quarterly revenue. The division supplies equipment used for the storage and transportation of industrial gases. The company also reported a production ramp-up after the revamp of its liquid-cylinder manufacturing facility.
The LNG Solutions division accounted for 15 per cent of revenue. Demand for LNG transportation, storage and fuelling infrastructure supported the business during the quarter, with INOX India securing orders for more than 40 LNG semi-trailers from various customers.
The company’s Cryo-Scientific and Advanced Engineering Solutions division contributed 17 per cent of revenue. During the quarter, it secured an order worth around Rs 35 crore for specialised cryogenic equipment for an early-warning earthquake project in Maharashtra. It also received an order of approximately Rs 12 crore from a European customer for prefabrication of TCWS piping.
INOX India said its beverage keg business recorded approximately 446 per cent year-on-year growth in sales during the quarter. It entered into a three-year global supply agreement with a leading international brewing company, whose stated requirement exceeds 400,000 kegs for 2027 across 22 countries. The company clarified that this is the customer’s overall requirement and that supplies will be shared among multiple vendors.
The company has also begun work in the semiconductor infrastructure segment, commencing the initial piping scope at a semiconductor facility in Dholera, Gujarat. Semiconductor manufacturing facilities require specialised piping and engineering systems, making the segment an extension of INOX India’s cryogenic and advanced engineering capabilities.
To support this business, the company inaugurated SemiOrbit, an orbital welding skill excellence centre at ITM SLS Baroda University. The centre is intended to develop specialised welding skills required for semiconductor fabrication infrastructure.
INOX India’s quarterly performance therefore combines established demand from industrial gas and LNG applications with newer business lines in beverage kegs and semiconductor infrastructure. The company’s current order backlog and export contribution provide visibility for upcoming quarters, while the reported project orders indicate continuing work across industrial, scientific and emerging manufacturing infrastructure.
