Earning Call Transcript
INOXINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
INOX India reported strong Q4 FY26 results with total income of INR475 crores (up 24.2% YoY) and full-year FY26 income of INR1,632 crores (up 21.2% YoY). The company achieved EBITDA margin of 23.8% for FY26, in line with guidance. Order book stands at INR1,514 crores with 63% exports, providing strong revenue visibility. Key highlights include a INR200 crore aerospace order from a US-based private space company, a landmark INR85 crore order from Cochin Shipyard for LNG fuel tanks for 6 ships, and entry into the Bahamas Mini LNG Terminal market. The company is developing a new Kandla facility (7 acres, 9-10 months to commission) for ultra-large tank manufacturing. North and Central America revenue contribution grew from 14% to 26%. Management guided for 18-20% growth target for FY27 with quarterly order inflow expected at INR450-500 crores.
The company demonstrates robust order execution capability with diversified segments (Industrial Gas, LNG, Cryo-Scientific, Beverage Keg) and expanding geographic footprint. The strong order book of INR1,514 crores and new capacity addition at Kandla position the company well for sustained growth, though working capital management remains a watch item given project-based order execution.