INOX India logo

INOX India

INOXINDIA NSE

Key Fundamentals

SmallcapOther Industrial ProductsIndustrial Products
Market Cap
₹20,627 Cr
Volatility
Moderate
P/E Ratio
80.01
EBITDA
₹388 Cr
Return on Equity
23.08%
Debt to Equity
0.07
Book Value
₹123.13
EPS
₹21.11
52W High
₹2,339.5
52W Low
₹1,068.2

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company is almost debt free.
  • Company has delivered good profit growth of 22.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.7%
  • Company has been maintaining a healthy dividend payout of 22.0%

Weaknesses

1
  • Stock is trading at 18.2 times its book value

Growth Rate

Revenue Growth
21.21% higher than 3Y
Net Income Growth
14.12% lower than 3Y
Cash Flow Change
-4.36% higher than 3Y
ROE
-10.78% lower than 3Y
ROCE
-9.66% higher than 3Y
EBITDA Margin (Avg.)
-1.61% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Inox India Ltd is an industrial products company with a market cap of ₹20,627 Cr trading at a PE of 81.8x and PB of 18.65x. The company has delivered 22% compounded profit CAGR over 5 years with a 3-year ROE of ~29%, while operating in a near debt-free position. The stock has appreciated ~96% over the last 1 year, and current valuations are significantly elevated relative to earnings and book value.

Bull Case 8
  • Near debt-free balance sheet provides financial resilience and flexibility for future capital allocation without interest burden
  • Strong 5-year compounded profit growth of 22% CAGR indicates consistent earnings expansion over a meaningful period
  • Healthy 3-year ROE of ~29% demonstrates efficient use of shareholder equity and strong capital returns
  • 5-year compounded sales growth of 22% CAGR suggests sustained demand for the company's industrial products
  • TTM sales growth of 20% indicates continued top-line momentum in recent quarters
  • Consistent dividend payout ratio of 22% reflects management's commitment to returning cash to shareholders despite being in a growth phase
  • Last year ROE of 26% remains well above typical industrial sector averages, suggesting the business retains its competitive advantages
  • 3-year compounded sales growth of 18% and profit growth of 19% show that earnings have broadly tracked revenue, indicating stable or improving margins
Bear Case 7
  • PE ratio of 81.8x is extremely elevated for an industrial products company, pricing in aggressive future growth and leaving little margin of safety
  • Price-to-book ratio of 18.65x means investors are paying nearly 19 times book value, a level that demands exceptional sustained growth to justify
  • TTM profit growth of 12% has decelerated from the 5-year CAGR of 22%, suggesting potential moderation in earnings momentum
  • Dividend yield of just 0.09% offers negligible income return at current share price levels
  • Stock price appreciation of 96% in 1 year has far outpaced TTM profit growth of 12%, indicating significant multiple expansion rather than earnings-driven gains
  • Gap between TTM sales growth of 20% and TTM profit growth of 12% suggests possible margin compression in recent periods
  • At ₹20,627 Cr market cap with an 81.8x PE, the implied earnings are roughly ₹252 Cr — any earnings miss could trigger sharp de-rating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Neutral 1
  • Virtual investor meets scheduled Sep 8

    Inox India scheduled back-to-back virtual group investor/analyst meets on Sep 8 and Sep 11, 2026, under SEBI Regulation 30(6). No unpublished price-sensitive information will be discussed at either session.

TL;DR: Recent newsflow for Inox India is limited to routine investor-meeting disclosures with no material operational or financial updates. There are no identifiable headwinds or positive catalysts from the latest filings. The lack of news makes it difficult to assess directional momentum; investors should watch for substance from the upcoming Sep 11 meeting for any forward-looking commentary.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
308
258
291
277
296
307
334
369
340
358
429
461
371
Expenses
237
199
224
223
226
243
265
288
263
280
335
366
295
Operating Profit
72
59
67
53
70
64
69
81
76
78
94
95
76
OPM %
23%
23%
23%
19%
24%
21%
21%
22%
22%
22%
22%
21%
20%
Other Income
8
7
5
11
5
13
16
14
13
13
-1
18
11
Interest
1
1
2
2
2
3
2
1
1
2
3
4
2
Depreciation
4
4
5
5
6
6
6
7
8
8
9
9
10
PBT
76
60
64
58
68
69
76
86
81
81
80
100
76
Tax %
25%
23%
24%
24%
23%
28%
23%
24%
24%
25%
24%
25%
23%
Net Profit
57
46
49
44
53
49
58
66
61
61
61
75
58
EPS in Rs
6.29
5.1
5.35
4.86
5.8
5.45
6.43
7.22
6.73
6.7
6.69
8.29
6.4
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
650
649
594
783
966
1,133
1,306
1,587
1,618
Expenses
506
516
459
615
761
882
1,021
1,244
1,276
Operating Profit
144
133
135
168
205
252
285
343
342
OPM %
22%
20%
23%
21%
21%
22%
22%
22%
21%
Other Income
28
48
15
21
19
30
48
42
41
Interest
27
26
7
2
4
6
9
9
10
Depreciation
9
12
12
12
14
18
25
34
36
PBT
135
144
131
174
207
258
299
342
337
Tax %
-44%
32%
27%
25%
25%
24%
24%
25%
—
Net Profit
193
97
96
130
155
196
226
258
255
EPS in Rs
213
107
106
14.38
17.05
21.59
24.9
28.41
28.08
Div. Payout %
0%
0%
0%
10%
67%
51%
8%
7%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9
9
9
18
18
18
18
18
Reserves
201
270
362
484
531
631
856
1,099
Borrowings
284
145
68
55
9
16
43
81
Other Liabilities
231
205
248
340
589
558
737
813
Total Liabilities
725
629
687
897
1,148
1,223
1,654
2,012
Fixed Assets
94
110
102
134
164
255
359
428
CWIP
0
0
2
2
0
5
4
4
Investments
81
80
25
312
249
247
267
297
Other Assets
549
439
558
449
734
716
1,023
1,282
Total Assets
725
629
687
897
1,148
1,223
1,654
2,012
Figures in ₹ Crores

Cash Flow

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
85
188
231
97
177
122
122
117
Investing
136
-28
-152
-72
-13
-26
-141
-110
Financing
-186
-168
-96
-26
-154
-103
17
5
Net Cash Flow
36
-8
-17
-1
10
-6
-1
13
Free Cash Flow
70
175
225
53
132
32
-3
11
CFO/OP
63
147
192
72
112
74
65
58
Figures in ₹ Crores

Ratios

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
83
83
69
36
54
56
70
72
Inventory Days
337
208
215
349
348
314
312
247
Days Payable
36
20
26
43
52
90
87
80
Cash Conversion Cycle
384
270
258
342
350
280
295
238
Working Capital Days
-16
23
0
23
31
44
61
83
ROCE %
—
30%
32%
35%
37%
43%
38%
33%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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61 extracted metrics + investor summaries across FY19–FY27.

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Shareholding Pattern

Others2.12%Promot.74.86%FIIs6.87%DIIs7.67%Public8.48%As ofJun 2026

Documents

Frequently Asked Questions about INOX India

What does Inox India Ltd do?
Incorporated in 1976, Inox India Limited offers solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions[1]Inox India specializes in supplying cryogenic equipment, particularly tanks. The company offers comprehensive solutions for...
Where is Inox India Ltd (INOXINDIA) listed?
Inox India Ltd trades as INOXINDIA on the NSE and under code 544046 on the BSE.
Which sector does Inox India Ltd belong to?
Inox India Ltd is classified under the Industrial Products sector, in the Other Industrial Products industry.
What is the market capitalisation of Inox India Ltd?
Inox India Ltd has a market capitalisation of ₹20,627 Cr, which places it in the Large Cap band.
What is the PE ratio of Inox India Ltd?
Inox India Ltd trades at a PE ratio of 80.01, on earnings per share of ₹21.11, against a book value of ₹123.13 per share.
What is the 52-week high and low of Inox India Ltd?
Over the last 52 weeks Inox India Ltd has traded between ₹1,068.2 and ₹2,339.5.
Does Inox India Ltd pay dividends?
Inox India Ltd has a dividend yield of 0.09%.
What is the Return on Equity (ROE) of Inox India Ltd?
Inox India Ltd reported a return on equity of 23.08%. Its debt-to-equity ratio is 0.07.

Company Information

Incorporated in 1976, Inox India Limited offers solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions[1]Inox India specializes in supplying cryogenic equipment, particularly tanks. The company offers comprehensive solutions for equipment and systems operating in cryogenic conditions.[2]

Website inoxcva.com
Listed 2023-12-21
Face Value ₹ 2
Issued Size 9,07,63,500

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