INOX India Limited
₹1,860.65-₹37.50 (-2.0%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹10,163 Cr
- P/E
- 43.3x
- EV / EBITDA
- 37.5x
- Revenue
- ₹1,296 Cr
- Net margin
- 17.1%
- ROCE
- 34.5%
Price chart
Technical chartScreen technicals →+53.7% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -9.1%
- 3M
- -1.6%
- 6M
- +27.3%
- 1Y
- +53.7%
- 5Y
- +104.4%
52-week range
Day change -₹37.50 (-2.0%) from ₹1,898 to ₹1,861 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in INOXINDIA, bought on each weekday since 2023.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 21.2%
Concerns1
- Negative free cash flow (₹18 Cr)
Rule-based from financial data. Not advice.
About the company
INOX India Limited manufactures and supplies cryogenic liquid storage and transport tanks for gas companies and engineering, procurement, and construction (EPC) companies in India and internationally. It also offers industrial gas equipment comprising storage and transport tanks, microbulk units, vaporizers and piping, and oil and gas equipment.
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INOX India Limited manufactures and supplies cryogenic liquid storage and transport tanks for gas companies and engineering, procurement, and construction (EPC) companies in India and internationally. It also offers industrial gas equipment comprising storage and transport tanks, microbulk units, vaporizers and piping, and oil and gas equipment. In addition, the company provides liquid nitrogen containers, bio-series containers, and low-pressure storage tanks; cylinders for gases, including refrigerants, LPG, and helium balloon cylinders. Further, it offers cryogenic process technologies, cryogenic propulsion systems, and satellite and launch facilities, as well as fusion (ITER) and superconductivity. Additionally, the company engages in the installation of equipment and systems for cryogenic conditions, standard cryogenic tanks and equipment, bespoke technology, equipment and solutions, as well as the operation of projects used in industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilizers, aviation and aerospace, construction, and pharmaceuticals. Furthermore, it provides industrial applications, LNG infrastructure, horsepower, automotive industry applications systems, and LNG equipment, as well as beer kegs. The company serves aviation and aerospace, construction and cement, cryo scientific research, dairy and livestock, electronics, fertilizer and chemical, food and beverages, material handling, glass and ceramics, health care and life sciences, hydrogen, industrial gas, LNG and LCNG, metal processing, oil and gas, refining, petrochemical, paper and pulp, pharmaceuticals, power and utilities, rubber, steel and mining, water and water treatment, and entertainment and event sectors. INOX India Limited was incorporated in 1976 and is headquartered in Vadodara, India.
- Sector
- Industrials
- Shares outstanding
- 9.1 Cr shares
- ISIN
- INE616N01034
- BSE code
- 544046
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹10,163 Cr
- P/E
- 43.3x
- P/B
- 10.1x
- EV / EBITDA
- 37.5x
- EV / Sales
- 9.2x
- P/S
- 9.3x
- Earnings yield
- 2.3%
- 52-week high
- ₹2,295.95
- 52-week low
- ₹1,071.05
Profitability
- Operating margin
- 21.9%
- Net margin
- 17.1%
- EBITDA margin
- 24.7%
- ROE
- 27.5%
- ROCE
- 34.5%
- ROA
- 15.0%
- Dividend payout
- 54.0%
- Tax rate
- 24.0%
- Other income, % of PBT
- 12.2%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,296 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.2%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.2%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹268 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.1%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 21.0%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 21.2%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹122 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -27.8%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 7.8%
Solvency and efficiency
- Current ratio
- 1.78
- Debt / Equity
- 0.02
- Debt / Assets
- 0.01
- Debt / EBITDA
- 0.05
- Interest coverage
- 47.60
- Financial leverage
- 1.84
- CFO / Net profit
- 0.66
- Cash / Market cap
- 6.9%
- Cash per share
- ₹76.67
- Asset turnover
- 0.87
- Fixed asset turnover
- 4.33
- Capital intensity
- 0.23
- Debtor days
- 58 days
- Inventory turnover
- 1.13
- Cash conversion cycle
- 286 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹17 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,010 Cr |
| Sales | Operating profit | ₹286 Cr |
| Operating profit | Interest | ₹8 Cr |
| Operating profit | Depreciation | ₹24 Cr |
| Operating profit | Profit before tax | ₹254 Cr |
| Other income | Profit before tax | ₹46 Cr |
| Profit before tax | Tax and other | ₹75 Cr |
| Profit before tax | Net profit | ₹225 Cr |
Revenue and net profit
Revenue grew 19.2% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹587 Cr | ₹97 Cr |
| FY2022 | ₹777 Cr | ₹128 Cr |
| FY2023 | ₹950 Cr | ₹156 Cr |
| FY2024 | ₹1,087 Cr | ₹186 Cr |
| FY2025 | ₹1,296 Cr | ₹225 Cr |
Cash flows
FY2025: ₹106 Cr from operations, -₹18.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹226 Cr | ₹66 Cr |
| FY2022 | ₹94 Cr | ₹24 Cr |
| FY2023 | ₹169 Cr | ₹159 Cr |
| FY2024 | ₹122 Cr | ₹96 Cr |
| FY2025 | ₹106 Cr | -₹18 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,296 Cr+19.2%1Y
- Net profit
- ₹225 Cr+21.0%1Y
- Cash from operations
- ₹106 Cr
- Free cash flow
- -₹18 Cr-118.8%1Y
- Revenue CAGR, 5Y
- 11.2%
- EBITDA CAGR, 5Y
- 12.0%
- Net profit CAGR, 5Y
- 21.2%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,296 Cr | ₹286 Cr | — | ₹225 Cr | ₹106 Cr | -₹18 Cr | 25.0% | +19.2% | +21.0% |
Monthly returns
Month-by-month returns of INOXINDIA across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,644 Cr |
| Equity capital | ₹18 Cr |
| Reserves | ₹883 Cr |
| Borrowings | ₹41 Cr |
| Other liabilities | ₹702 Cr |
| Assets | ₹1,644 Cr |
| Fixed assets | ₹355 Cr |
| Capital work in progress | ₹4 Cr |
| Investments | ₹312 Cr |
| Other assets | ₹973 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
INOXINDIA trades at 43.3x earnings against a peer median of 38.3x (a 13% premium).
Not shown (no positive earnings and no EV / Sales): SWAN DEFENCE AND HEAVY INDUSTRIES LIMITED.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| INOX India LimitedINOXINDIAthis companyP/E ↑ premium | ₹10,163 Cr | 43.3x | 10.1x | 27.5% | 37.5x |
| HEG Ltd.HEG | ₹10,620 Cr | 44.4x | 2.5x | 5.6% | 20.4x |
| Action Construction Equipments Ltd.ACE | ₹10,558 Cr | 24.8x | 5.9x | 26.9% | 21.6x |
| Happy Forgings LimitedHAPPYFORGE | ₹10,400 Cr | 38.3x | 5.3x | 15.1% | 25.8x |
| Jindal Saw Ltd.JINDALSAW | ₹10,321 Cr | 7.4x | 0.8x | 15.8% | 3.8x |
| Ingersoll-Rand (India) Ltd.INGERRAND | ₹10,116 Cr | 38.2x | 15.5x | 38.2% | 31.4x |
| Azad Engineering LimitedAZAD | ₹10,099 Cr | 89.1x | 6.8x | 9.1% | 67.4x |
| Shaily Engineering Plastics Ltd.SHAILY | ₹9,981 Cr | 80.1x | 17.7x | 8.4% | 99.4x |
| SWAN DEFENCE AND HEAVY INDUSTRIES LIMITEDSWANDEF | ₹9,696 Cr | — | 40.4x | -25.5% | -430.0x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
INOXINDIA since 1 January, against earlier years.
Historical volatility
INOXINDIA's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 23.0% |
| FY2022 | 21.0% |
| FY2023 | 22.0% |
| FY2024 | 22.0% |
| FY2025 | 22.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,296 Cr |
| Costs | |
| Interest | ₹8 Cr |
| Expenses | ₹1,010 Cr |
| Operating profitOperating Profit | ₹286 Cr |
| Other income and charges | |
| Profit before tax | ₹300 Cr |
| Tax | |
| Net profitNet Profit | ₹225 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,644 Cr |
| Equity capitalEquity Capital | ₹18 Cr |
| Reserves | ₹883 Cr |
| Borrowings | ₹41 Cr |
| Other liabilitiesOther Liabilities | ₹702 Cr |
| AssetsTotal Assets | ₹1,644 Cr |
| Fixed assetsFixed Assets | ₹355 Cr |
| Capital work in progressCWIP | ₹4 Cr |
| Investments | ₹312 Cr |
| Other assetsOther Assets | ₹973 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹106 Cr |
| Investing cash flowCash from Investing Activity | -₹124 Cr |
| Financing cash flowCash from Financing Activity | ₹19 Cr |
| Change in cashNet Cash Flow | ₹1 Cr |
Learn while you research
Academy chapters picked for INOX India Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 43.3, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read