INOX India Limited Earnings Summary — Q1 FY2027
INOX India Hits Record Order Inflow in Q1 FY27 Driven by Aerospace and Scientific Engineering
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 19.5% sequentially in Q1 FY2027.
- Revenue of ₹371 Cr is 9.2% higher year-on-year.
- Revenue has compounded at 13.9% annualised over the last 10 quarters.
- Net profit of ₹58 Cr is 5.0% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 13.0% annualised across the period.
- Operating margin stands at 20.5% in Q1 FY2027.
- Operating margin compressed by 196 bps year-on-year.
- Over the last two years operating margin has contracted by 322 bps.
- PBT margin is 20.4%.
- Expenses grew 11.9% against revenue growth of 9.2%.
- Operating profit of ₹76 Cr is 0.3% lower year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 60/100 (Healthy) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 371 | 461 | 429 | 358 | 340 | 369 | 334 | 307 | 296 | 277 |
| Expenses | Improving | 295 | 366 | 335 | 280 | 263 | 288 | 265 | 243 | 226 | 223 |
| Operating Profit | Improving | 76 | 95 | 94 | 78 | 76 | 81 | 69 | 64 | 70 | 53 |
| Operating Margin | Stable | 20.5% | 20.6% | 21.8% | 21.8% | 22.4% | 22.0% | 20.7% | 20.9% | 23.7% | 19.3% |
| Other Income | Volatile | 11 | 18 | -1 | 13 | 13 | 14 | 16 | 13 | 5 | 11 |
| Interest | Volatile | 2 | 4 | 3 | 2 | 1 | 1 | 3 | 3 | 2 | 2 |
| Depreciation | Improving | 10 | 9 | 9 | 8 | 8 | 7 | 6 | 6 | 6 | 5 |
| Profit Before Tax | Improving | 76 | 100 | 80 | 81 | 81 | 86 | 76 | 69 | 68 | 58 |
| Tax | Improving | 18 | 25 | 20 | 20 | 19 | 21 | 18 | 19 | 15 | 14 |
| Net Profit | Improving | 58 | 75 | 61 | 61 | 61 | 66 | 58 | 49 | 53 | 44 |
| Net Margin | Stable | 15.7% | 16.3% | 14.2% | 17.0% | 18.0% | 17.7% | 17.5% | 16.1% | 17.8% | 15.9% |
Key Takeaways
- Q1 FY27 marked the highest-ever quarterly order inflow for the company at approximately ₹532 crore.
- The total order book reached a record ₹1,686 crore, with export orders exceeding ₹1,140 crore providing strong visibility.
- Export revenue remained a core driver, contributing 58% of total quarterly revenue at ₹222 crore.
- The company secured prestigious new orders from CERN and repeat orders from ITER, France, for specialized cryogenic modules.
- Entry into the semiconductor infrastructure space was achieved through transportation tank orders for Dholera facilities.
- Secured major aerospace orders for large cryogenic storage tanks, reinforcing a trusted partnership in the space exploration industry.
Management Guidance
Management expects to maintain a quarterly order inflow run rate between ₹450 crore to ₹500 crore for FY27. Revenue growth is targeted at 18-20% for the full year as logistic challenges normalize and high-value tailormade product dispatches increase.
Sentiment Shift
Improving
Despite a sequential dip in net profit due to lower other income and higher operating costs, the record order backlog and entry into semiconductor/aerospace flight applications signal a strengthening growth profile.
Outlook
The outlook remains robust backed by capacity expansion at Kandla (strategic proximity to port for ultra-large tanks) and the acquisition of AS9100D aerospace certification which opens onboard flight application markets.
From the Annual Report (Key Quotes)
“Q1 FY27 marks another milestone quarter for INOX India, highlighted by our highest-ever quarterly order inflow of approximately ₹532 crore.”
“Our export order book now exceeds ₹1,140 crore, reflecting the growing global acceptance of our engineering capabilities.”
“We remain focused on operational excellence, innovation led growth, and delivering long-term value for our stakeholders.”
Official Quarterly Documents
Ask AI about this quarter
This summary is AI-generated from INOX India Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.