INOX India Ltd reported a 10 per cent year-on-year increase in consolidated profit after tax (PAT) at ₹67 crore for the second quarter of FY27, compared with ₹62 crore in the corresponding quarter of the previous financial year.
Revenue from operations rose 27 per cent year-on-year to ₹456 crore during the quarter, reflecting continued demand across its cryogenic equipment and solutions businesses. The company’s performance was supported by healthy demand across its Industrial Gas Solutions, LNG Solutions and Cryo-Scientific and Advanced Engineering businesses, along with growing traction in emerging segments such as beverage kegs and semiconductor infrastructure.
During the quarter, the company reported an EBITDA of ₹100 crore, registering a growth of 11 per cent year-on-year, while the EBITDA margin stood at 21 per cent. Its order backlog crossed ₹2,268 crore, the highest in the company’s history, providing revenue visibility for the coming quarters. Exports continued to account for a significant share of the company’s business, contributing 60 per cent to total revenue during the quarter.
The Industrial Gas Solutions division remained the largest contributor, accounting for 61 per cent of overall revenue. The business witnessed healthy demand for equipment used in the storage and transportation of industrial gases. The company also saw a ramp-up in production following the revamp of its liquid-cylinder manufacturing facility. The LNG Solutions division contributed 15 per cent to quarterly revenue, with demand for LNG transportation, storage and fuelling infrastructure continuing to support business momentum. During the quarter, INOX India secured orders for more than 40 LNG semi-trailers from various customers.
Its Cryo-Scientific and Advanced Engineering Solutions division contributed 17 per cent to revenue. The company secured an order worth around ₹35 crore for specialised cryogenic equipment for an early-warning earthquake project in Maharashtra, besides an order of approximately ₹12 crore from a European customer for prefabrication of TCWS piping. The beverage keg business also witnessed significant traction, with sales growing approximately 446 per cent year-on-year during Q2 FY27. The company 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 represents the customer’s overall requirement and that supplies will be shared among multiple vendors.
INOX India has also entered the semiconductor infrastructure space, commencing the initial piping scope at a semiconductor facility in Dholera, Gujarat. It has additionally inaugurated an orbital welding skill excellence centre, SemiOrbit, at ITM SLS Baroda University to develop specialised welding skills required for semiconductor fabrication infrastructure.
Published on November 3, 2026
