Recently listed stock engaged in providing end-to-end solutions for equipment and systems that operate under cryogenic conditions, jumped upto 6 percent in the day’s trade upon receiving a patent for storing cryogenic fluids.
With a market capitalization of Rs. 11,364 Crores, the shares of Inox India Limited were trading at Rs. 1,251.95, up 4.18 percent from its previous day’s close price of Rs. 1,201.75.
Inox India Limited has received patent rights for a method for suspending inner vessels of dew AR-type containers to store cryogenic fluids. Cryogenic fuels are fuels that require storage at extremely low temperatures to maintain them in a liquid state.
Cryogenic fuels are used in machinery that operates in space like rockets, satellites, and others, because ordinary fuel cannot be used there, due to the absence of an environment that supports combustion.
Inox India Limited is engaged in providing end-to-end solutions for equipment and systems that operate under cryogenic conditions, covering design, engineering, manufacturing, and installation.
It is the largest supplier of cryogenic equipment in India in terms of revenues. Furthermore, the company has also become the largest exporter of cryogenic tanks from India in terms of revenue in FY23.
As of 9MFY24, it has an order book of Rs. 1,043 Crores, with 50 percent orders from Industrial Gas, 23 percent from LNG, and the remaining 27 percent from the Cryo Scientific division.
It has a strong customer base with well-known players like Shell, the Indian Space Research Organisation (ISRO), Adani, IRM Energy, Supagas, Linde, Think Gas, Saint-Gobain, and many more.
Its revenue from operations grew by 23.40 percent from Rs. 783 Crores in FY22 to Rs. 966 Crores in FY23, accompanied by profits of Rs. 130 Crores to Rs. 153 Crores.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
