INOX INDIA LIMITED

Manufactures cryogenic and industrial gas equipment — cryogenic storage tanks, transport tanks for liquid gases, LNG storage and fuelling systems, beverage kegs, and cryogenic systems for aerospace and scientific applications. The Industrial Gas business supplies cryogenic tanks, transport tanks, vaporizers and disposable cylinders to industrial gas producers and end-users, and recorded a ~INR200 crore order from a US private space company for aerospace cryogenic systems in Q4 FY26. The LNG Solutions business supplies LNG storage, vaporizers and fuelling equipment; it entered the marine LNG ecosystem with an INR85 crore order from Cochin Shipyard for six LNG fuel tanks of 800 cu.m. each for LNG-powered vessels. The Beverage Keg business supplies stainless steel kegs and gained approvals from Heineken, AB InBev and Molson Coors, who together represent over 40% of global beer volumes. The Cryo-scientific segment supplies cryogenic systems to projects such as ITER and Highview's liquid-air energy storage. As of FY26-end the order book stood at INR1,514 crore, 63% of which is export. Customers are spread across over 100 countries, with North & Central America rising from 14% to 26% of revenue in FY26. Materials are the largest cost line at 41.8% of revenue, consistent with steel and fabricated components for cryogenic equipment.