The company belongs to the small-cap category with a market capitalization of ₹11,248 crores. On March 01, company shares were trading at ₹1,238 apiece, up 3.94 percent from the close price.
Inox India Limited is a supplier of cryogenic equipment that was established in December 1976. It provides complete solutions for equipment and systems that operate under cryogenic conditions, covering design, engineering, manufacturing, and installation.
Inox India is the 1st Indian company to manufacture a trailer-mounted hydrogen transport tank, As of FY23, the company is the largest supplier of cryogenic equipment in India, with a market share of 60% catering to various sectors such as oil and gas, fertilizer, medical, power, and more.
The company is a leading producer of both standard and tailored cryogenic equipment designed for the storage, distribution, and transfer of cryogens spanning the complete cryogenic temperature spectrum. Cryogens encompass a wide range of gases such as helium, hydrogen, nitrogen, oxygen, argon, CO2, N2O, LNG, and ethylene.
INOXCVA (North America) is the world’s largest manufacturer of cryogenic transportation equipment like transport trailers, truck mount trailers, ISO / IMO containers, and mobile Oil/Gas field pumping units.
The company has developed and commercialized a range of products and services that cover the complete cryogenic value chain, including industrial gases, LNG liquefaction plants, and liquid hydrogen. Its business is structured into three divisions: industrial gas, LNG, and cryoscientific segments. In the fiscal year 2023, approximately 70.88% of the revenue from operations was derived from industrial gases, 24.89% from LNG, and 4.23% from Cryo Scientific.
The company has a distinguished clientele that includes ISRO, Adani Group, Linde India, IRM Energy, Shell, and numerous others. With a global customer base spanning over 100 countries, its key geographical markets include the US, Europe, Saudi Arabia, Brazil, Korea, the UAE, Australia, and Bangladesh.
Inox India operates three manufacturing facilities situated in Kalol, Gujarat, Kandla
SEZ, and Silvassa.
Since its listing on December 21, 2023, the stock has gained 32 percent to the current date. The company conducted an IPO with the aim of raising funds amounting to ₹1,459.32 crores, offering shares within the price band range of ₹627 to ₹660 per share. Inox India’s three-day IPO witnessed a subscription rate of 61.28 times.
On December 21, 2023, Inox India was listed with a 44% premium to its initial public offering (IPO) price of ₹660 per share. The stock commenced trading at ₹950 per share.
The company has a diversified customer base spanning various industry sectors and geographical locations. As of the fiscal year 2023, Inox India has supplied its equipment and systems to more than 1,201 domestic customers and over 228 international customers.
In Q3 FY24, the order inflow reached ₹295 crore, reflecting a YoY growth of 7%. Additionally, the Industrial Gas division achieved its highest revenue ever at ₹214 crore during the same quarter.
Furthermore, Inox India’s year-on-year revenue witnessed a 19% surge, rising from ₹244 crore in Q3 FY23 to ₹290 crore in Q3 FY24. Concurrently, the net profit also experienced a 20% increase, ascending from ₹41 crore to ₹49 crore during this period.
Written by Omkar Chitnis
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