INOX India

“I think this is definitely because of geopolitical uncertainties and some credit issues which have ramped up in the last quarter. I don't think we will have a severe impact because of this going forward. So we will be within our range going forward on the margin side.”

“And we will be delivering those equipment by next financial year March, that is 2028 March, okay.”

“Yes, we are. We are on track for the yearly targets what we have considered.”

“So let us see. Hopefully, yes. But within situations that are so difficult to predict anything, we always hope for the best and work hard, and work backwards to see that we achieve the targets.”

“Yes. There should be. Margins will improve because of this order.”

“We are a debt-free company and net cash is also in very good numbers with us. So we don't depend on any other funding requirements. We do major funding from our own internal accruals.”

“We recently acquired land at Kandla near the port, where the construction work is going on, which will be finished most probably by March of this year. So for the next year, we have full-fledged availability of product available from this plant as well.”

“As of 30th September 2026, our order backlog scaled a new peak of INR2,268 crores.”

“Of these, orders from customers in the space sector comprise about INR1,100 crores, reflecting the growing traction of our offerings in this segment and being a partner of choice for customers.”

“Of this, 72% is from exports, reaffirming our strong global presence.”

“Also, in the September quarter, we have received a mega order for subcoolers from a U.S. space company. We are planning to manufacture these at our Savli facility.”

“During the quarter, we received orders worth approximately INR60 crores from domestic players covering transportation equipment, train tanks, and large storage tanks.”

“Following the revamp of our manufacturing unit, production has ramped up meaningfully, with more than 1,500 liquid cylinders dispatched in the first half of FY27, worth more than INR25 crores, as against 1,600 in the last year.”

“We are particularly encouraged by the progress of this business, as we are currently the only player with liquid cylinder manufacturing capabilities, positioning us uniquely in the Indian market.”

“During Q2 FY27, beverage keg sales grew approximately 446% year-on-year. Our beverage keg order book also recorded strong growth, increasing by approximately 155% year-on-year in Q2.”

“Given the 3-year nature of the agreement, we see potential to pursue additional business in 2028 and 2029, subject to customer requirements and further allocations”

“And the fifth approval audit visit is likely to be planned in the coming months.”

“Yes, the ISRO size what is publicly presented is around INR3,850 crores for the entire current launch pad. Because this was like 1.5-year or 2 years old press release ISRO has released. But because of the changes in the pricing and other things, it may slightly go up by 10% to 15%.”

“Despite this, underlying demand drivers across industrial gases, LNG infrastructure, aerospace, space applications, scientific research, and semiconductor manufacturing remain very encouraging.”

“It can manufacture around 20,000 liters of water in a day, so it's quite sufficient for around 10,000 people.”

“So in another 3 to 5 years, there'll be substantially good orders from this customer, provided we deliver the equipment of good quality and in time.”

“Yes, we are working with all the top 5 startup private players in India, and we have delivered equipment to almost 4 of them so far.”

“EBITDA stood at INR100 crores, up by 10.8% Y-o-Y, reflecting improved operating efficiency and a better product mix. The EBITDA margin for Q2 FY27 stood at 21.3%.”

“EBITDA for H1 was INR189 crores, also the highest-ever half-yearly EBITDA. The EBITDA margin in H1 FY27 was 22.3%. PAT for H1 stood at INR127 crores.”

“And we don't say we are very aggressive but offering competitive pricing to win strategic market share, because we want to maintain our market share in a variety of markets.”

“So definitely our margins are better in the non-standard tanks.”

“So margins are relatively better as compared to standard products.”

“Our total fund availability as on Q2 FY27 stood at INR384 crores, providing ample headroom to support future capacity expansion, ongoing project execution, and other strategic initiatives.”

“And the balance sheet is debt-free with INR384 crores net cash.”

“Following the recent launch of an LNG train by Indian Railways, we have received 4 related orders, of which 2 have been dispatched.”

“So this is a very interesting project for us. And we have started manufacturing the first microfactory at our Savli plant.”

“On the MRI, yes, the first machine and that is under trials now. And the EoI for 5 machines is underway.”

“And on the oxygen tank for the AIP system, we have delivered this product to L&T, and it is under final testing.”

“Once that final testing is over, the next course of action will begin for the next submarine, and tanks will be produced.”

“As you are aware, the ongoing West Asia conflict has created additional challenges for the global economy, particularly in logistics and supply chains.”

“However, you know very well that the product needs, geopolitical uncertainties, increased logistic cost, all these are playing a vital role in today's scenario, and this is the fact we have to live with.”

“The only challenge is, we are seeing recently on the people front, availability of skilled manpower and all that. But to cater to that, we have started our own training center where we train every one, currently 40, 50 wielders and fitters, to take care of the requirement.”

“No. The risk is like, it's a first of its kind order and very big size of coolers are there, so a lot of imported materials are there into this.”

“For Q2 FY27, total income stood at INR467 crores, representing a growth of 26.6% on a Y-o-Y basis”

“The profit after tax was INR66 crores, growing 7.8% Y-o-Y. The PAT margin came in at 14.2%.”

“For H1 FY27, total income for the half-year stood at INR849 crores. This is a record-high half-year performance”

“I'm also happy to share that we recently inaugurated an Orbital Welding Skill Excellence Center under the name SemiOrbit at ITM SLS Baroda University.”

“During September, we dispatched major equipment for the Bahamas project, along with the first 2 tanks of the U.S. aerospace customer, and equipment for Eleuthera and Great Abaco projects.”