Vadodara/Mumbai, November 06th, 2025: INOX India Ltd (INOXCVA) has released its unaudited financial results for the Second Quarter ended September 30, 2025, as approved by the Board of Directors. Quarterly revenue stood at ₹ 371 Cr, rising 16.0 % Y-o-Y, while EBITDA was reported at ₹92 Cr, up by 18.0%. The Company reported 22.9% year-on-year growth in Profit After Tax (PAT) at ₹62 Cr for the Quarter. Exports accounted for 57% of Revenue with export sales at ₹211 Cr, reflecting continued international demand and an aggressive outreach to newer markets. The Company secured order inflows totaling to ₹374 Cr, taking total order backlog to ₹1485 Cr, signifying positive market confidence and a growing potential for cryogenic applications in the industrial and clean energy sectors.
The first half of FY26 witnessed the Company reporting its highest-ever H1 Revenue, EBITDA & PAT. Revenue for H1 stood at ₹723 Cr, up 16.3%, EBITDA grew 18.7% to ₹180 Cr and PAT rose 20.9% to ₹122 Cr. Exports for the period stood at ₹409 Cr, up 24% Y-o-Y, contributing 56% to total Revenues for the first two Quarters of FY26.
The Industrial Gases Division contributed 57% to the overall revenue during the quarter. IG segment delivered a robust Quarter with major international and domestic order wins, including a cryogenic vessel order from a US-based customer, besides RFTSA vessel dispatch for an air separation project, and a 90 KL liquid hydrogen tank order for a European semiconductor facility.
The LNG Division contributed 25% to overall revenue. During the Quarter, the Company received order for LNG regassification for two small Islands at The Bahamas – Abaco & Eleuthera – for power generation facilities, building on the success of the ongoing main project at The Bahamas.
The Cryo Scientific Division contributed 13% to overall revenue. The segment has demonstrated impressive advancement, securing new and repeat orders from prestigious clients. Key highlights for the Quarter included two major refurbishment contracts- the Vacuum Vessel Thermal Shield (VVTS) sector and the Cryostat Thermal Shield (CTS), underscoring our expertise in cryogenic solutions, and ITER Org’s strong faith in the Company’s capabilities.
The Beverage Kegs Division has secured a 30,000-keg order from a German company, with the first batch already dispatched, and the remainder delivery scheduled post-November trials. A non-standard keg order received from Orban, Germany, underscores a growing demand for customized formats. The Company is actively bidding for large sized orders with major breweries including Heineken, AB InBev and Paulaner.
Commenting on the Results, Deepak Acharya, Chief Executive Officer – INOX India Limited, added, “Our Q2 FY26 results reflect the robust execution and strategic momentum across our businesses, delivering a promising increase in Revenues and PAT, alongside achieving our highest-ever H1 financial metrics. The sustained confidence in our technology is evident from our order inflows and a growing order backlog, positioning us strongly for the future. Key highlights, such as securing a large cryogenic vessel order from a US-based customer, driving small-scale LNG solutions in The Bahamas, and furthering our specialized expertise with the ITER Organization’s refurbishment contracts, underscore the faith and trust our existing as well as new customers assign to brand INOXCVA. With exports contributing 57% to our revenue, we are strategically geared to capitalize on the increasing worldwide demand for advanced cryogenic solutions, especially within the clean energy and high-technology sectors.”