This small-cap market leader stock, engaged in designing and manufacturing cryogenic equipment used in industrial gas, LNG, and energy sectors for storage, transportation, and distribution purposes, jumped 5 percent after the company reported strong March quarterly results with a 49 percent YoY increase in net profit and announced a 100 percent dividend.
With a market capitalization of Rs. 10,534.92 crores, the share of Inox India Limited has reached an intraday high of Rs. 1,172 per equity share, rising nearly 4.53 percent from its previous day’s close price of Rs. 1,121.20. Since then, the stock has retreated and is currently trading at Rs. 1,160.70 per equity share.
Q4 FY25 Result Walkthrough
Coming into the quarterly results of Inox India Limited, the company’s consolidated revenue from operations increased by 33.60 percent YOY, from Rs. 276.50 crore in Q4 FY24 to Rs. 369.40 crore in Q4 FY25, and grew by 10.72 percent QoQ from Rs. 333.62 crore in Q3 FY25.
Inox India Limited generated 61 percent of its revenue from industrial gas, 19 percent from LNG, 16 percent from Cryo-Scientific, and 4 percent from other operating income in Q4 FY25. The company generated 47 percent of its revenue from India and 53 percent from exports in Q4 FY25.
In Q4 FY25, Inox India Limited’s consolidated net profit increased by 48.65 percent YOY, reaching Rs. 65.51 crore compared to Rs. 44.07 crore during the same period last year. As compared to Q3 FY25, the net profit has increased by 12.21 percent, from Rs. 58.38 crore.
The basic earnings per share increased by 48.56 percent and stood at Rs. 7.22 as against Rs. 4.86 recorded in the same quarter in the previous year, 2024.
Dividend: The Inox India board of directors has recommended paying a final dividend at the rate of 100 percent on the face value of paid-up equity shares of Rs. 2 each for the financial year 2024-25, which is a dividend of Rs. 2 per equity share. The date of payment of the dividend shall be 4 June 2025.
FY25 Result: Inox India Limited’s revenue has increased from Rs. 1,133.34 crore in FY24 to Rs. 1,306 crore in FY25, which is a growth of 15.23 percent. The net profit has also grown by 15.32 percent, from Rs. 196 crore in FY24 to Rs. 226.03 crore in FY25.
OrderBook
In Q4 FY25, Inox India’s order backlog reached Rs. 1,356 crore, with Industrial Gas at Rs. 635 crore (47 percent share), LNG at Rs. 486 crore (36 percent), and Cryo-Scientific at Rs. 234 crore (17 percent). Domestic orders are valued at Rs. 481 crore (36 percent) and export orders at Rs. 874 crore (64 percent), indicating a shift towards more export orders.
Inox India Limited was originally incorporated in 1976 as Baroda Oxygen Limited and is headquartered in Vadodara, Gujarat. The company is a part of the INOX Group, a diversified Indian conglomerate with interests in industrial gases, cryogenic equipment, and cinema exhibition.
Inox India has established a robust global presence, serving over 5,000 customers across more than 100 countries. With operations in 3 countries, the company ensures seamless support through a network of over 30 sales and service locations worldwide. Inox India leads the LNG and LCNG fueling station market, holding a commanding market share of about 65 percent to 70 percent.
The company boasts a diversified customer base across industrial gas, LNG, and cryo-scientific sectors, serving both domestic and international markets. Key clients include Hyundai, Air Liquide, Shell, Indian Oil, and ISRO, among others, reflecting its strong presence in India and globally across various industry verticals.
Written By- Nikhil Naik
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