INOX India Ltd announces Q2FY25 Results

Vadodara/Mumbai, Nov 08th, 2024: INOX India Ltd (INOXCVA) has announced its financial results for the second quarter of FY25, ending on 30th September 2024. The results were approved and taken on record today by the Board of Directors. Reflecting continued robust growth and progress in financial and operational performance, the Company reported Quarterly Revenues of Rs. 320 Cr, representing a 21% increase Y-o-Y, EBITDA at Rs. 77.3 Cr, up by 17.7%, and Profit After Tax (PAT) at Rs. 50.1 Cr, reflecting an 10% Y-o-Y growth.

With a 52% contribution to the total Quarterly Revenue to the tune of Rs 166.4 Cr, Q2’25 witnessed a sustained demand from international markets. The Company reported order inflows totalling Rs. 366 Cr in the second quarter, adding to an expanding backlog and affirming market confidence across industrial and clean energy segments. The total order backlog as on Q2’25 stood at the highest-ever mark of Rs 1178 Cr, depicting enhanced global outreach, greater customization of products and solutions and a building trust in the Company across the globe. The recently inaugurated plant at Savli, Vadodara, is operating at a higher capacity, contributing to improved output levels and operational efficiencies.

The Industrial Gases Division remained the leading revenue generator, contributing 59% to the quarter’s overall revenue. The Company received an EPC order for storage and vaporizer package for liquid Nitrogen and liquid Oxygen for a natural gas plant expansion project in Saudi Arabia. The 2nd Quarter also saw the Company dispatching a 288m3 high-purity Ammonia tank to a customer in Middle East.

Demand for LNG solutions continued to rise, increasing the segment’s share to 19.0% of the quarterly revenue basis, as LNG applications gain traction globally, particularly in the mobility and transportation sectors. The Company received another export order for mega-sized LNG trailers from South America. Another large export order for LNG storage and distribution system was received from South America.

The Cryo-scientific Division advanced its work on France’s ITER Project, overseeing complex thermal shield repairs and supplying MTCB Cryoline systems, resulting to a handsome 18% contribution to the total quarterly revenues. Meanwhile, the Stainless-Steel Kegs segment has also started witnessing fresh demand and enquiries from major global breweries for their requirement for the coming year.

Deepak Acharya, Chief Executive Officer – INOX India Ltd, said, “Building on last quarter’s outstanding performance, we are thrilled to report another period of exceptional growth and innovation. Our continued success is driven by a strong influx of orders and our proven execution capabilities, reflecting the strength of our strategies and our commitment to delivering impactful results. The momentum in our growth trajectory remains steady, with each segment making significant contributions to our overall progress. As we expand our product portfolio with innovative, customer-centric solutions, we are strategically positioned to enhance our profits and deliver sustained value for our shareholders and investors. Our unwavering focus on innovation, operational excellence, and market responsiveness empowers us to unlock new opportunities across a broad range of industries. Looking ahead, we are confident in the potential of emerging demand from the clean energy sectors of LNG and Hydrogen, which are poised to be key growth drivers alongside our established Industrial Gas segment. These areas, with their robust demand outlook, are expected to provide balanced contributions to our revenue streams, further solidifying our foundation for consistent, long-term value creation.”