Stock Jumps 4% as Company Eyes ₹2,000 Cr Revenue; Sees Growth in Semiconductor Segment

SYNOPSIS: One of the world’s leading providers of customised cryogenic equipment targets Rs. 1,600 Cr revenue in FY26 and Rs. 2,000 Cr in the next two years with strong export-led growth, robust order book, and expansion into new segments like semiconductors and beverage kegs.

Shares of one of the largest manufacturers of cryogenic storage, re-gas and distribution systems for LNG, industrial gases and cryo-scientific applications with operations in India, Brazil and Europe surged over 4 percent on Tuesday, supported by management’s Rs. 1,600 crore revenue outlook and growing traction in the semiconductor segment.

With a market cap of Rs. 10,830 crores, shares of Inox India Limited are currently trading in the green at Rs. 1,193.15 on BSE, up by around 3 percent, compared to its previous closing price of Rs. 1,161.35. The stock has delivered positive returns of around 13 percent in one year, as well as over 3 percent in the last one month.

News

Inox India Limited is targeting revenues of around Rs. 1,600 crore in FY26, as per media reports, including BusinessLine. With an expected annual growth rate of 18-20 percent, the company is on track to achieve Rs. 2,000 crore over the next two years, supported by a diversified business portfolio spanning LNG infrastructure, industrial gases, and specialised engineering solutions.

Deepak Acharya, CEO of Inox India, highlighted the company’s wide-ranging product portfolio, from small two-litre cryogenic containers to large 400-tonne vessels, stating that this breadth enables it to serve diverse industries and reduces exposure to sector-specific risks.

Growth is being driven by strong demand from international markets as well as specialised engineering projects. In Q3 FY26, the company reported revenue of Rs. 436 crore, registering a 27 percent YoY increase, with exports contributing approximately 62 percent of total revenue.

For 9M FY26, total income grew by 20 percent to Rs. 1,157 crore, while adjusted net profit rose by 23.7 percent to Rs. 189 crore, reflecting healthy operational performance.

The company also maintains a strong order backlog of Rs. 1,457 crore, providing revenue visibility for the next 9-10 months. The order mix is led by industrial gases at around 43 percent, followed by LNG infrastructure at 31 percent and cryogenic scientific applications at 25 percent, with exports forming a significant portion of the pipeline.

In addition, new business segments are contributing to future growth. The beverage keg segment is expected to scale up to a capacity of 10 lakh units annually, representing a Rs. 400-500 crore opportunity, supported by approvals from global brewers such as Heineken and AB InBev.

The semiconductor segment, which currently contributes around Rs. 80-100 crore, is also expected to expand as new fabrication units come online. The company supplies specialised containers for ultra-high purity gases used in chip manufacturing, a niche segment with high entry barriers.

Overall, the company is strategically positioning itself at the intersection of clean energy, advanced science, and global industrial supply chains, with exposure to areas such as LNG logistics, hydrogen infrastructure, and nuclear fusion research.

Financials

INOX India Limited, one of the world’s leading providers of customised cryogenic equipment, is engaged in offering solutions across design, engineering, manufacturing and installation of equipment and systems for cryogenic conditions.

Its offering includes standard cryogenic tanks and equipment, stainless steel kegs, bespoke technology, equipment & solutions, and large turnkey projects used in diverse industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace, pharmaceuticals and construction. In addition, it manufactures a range of cryogenic equipment utilised in global scientific research projects.

The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of more than 28 percent, from Rs. 334 crores in Q3 FY25 to Rs. 429 crores in Q3 FY26. Likewise, its net profit increased during the same period from Rs. 58 crores to Rs. 61 crores, representing a rise of about 5 percent YoY.

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