INOX India Limited Earnings Summary — Q4 FY2026

• Revenue for the quarter grew 24.7% YoY to ₹460.65 crore, demonstrating sustained demand for cryogenic equipment.
• The Board recommended a final dividend of ₹2 per equity share (100% of face value) for FY2025-26, with a record date of June 09, 2026.
• Exceptional income of ₹320.65 lakh was recognized during the quarter following a final settlement from a liquidated US subsidiary (CVA Inc).
• Operating margins improved sequentially to 20.97%, although they remained slightly lower than the same period last year due to higher raw material consumption.
• The company accounted for a one-time impact of ₹324.38 lakh related to New Labour Codes during the second half of the fiscal year.
• Balance sheet strength remains high with total equity increasing to ₹1,117.61 crore and a significantly cash-rich position.

Management remains focused on the 'Green Hydrogen' and LNG transition, positioning the company as a key player in the global energy transition value chain. They aim to maintain technological moats through specialized engineering for cryogenic tanks and liquid hydrogen storage.

Improving

Sequential growth in both revenue and profit margins suggests a strong recovery from the prior quarter, supported by a healthy order book and successful settlement of legacy legal claims.

The outlook is positive driven by a strong order backlog of ₹939 crore and a strategic shift toward the high-growth LNG value chain, which now represents a larger portion of the revenue mix. Capacity expansion investments are expected to yield benefits in upcoming quarters.