During Wednesday’s trading session, the shares of the world’s leading provider of customised cryogenic equipment surged 4.8 percent to Rs. 1,247.35 on BSE, after the company received patent rights on cold storage unit from the Government of India.
With a market capitalisation of Rs. 11,102.7 crores, at 10:52 a.m., the shares of INOX India Limited were trading in the green at Rs. 1,223.95, up by 2.9 percent, as against its previous closing price of Rs. 1,189.5.
What’s the News:
According to the latest regulatory filings with the stock exchanges, INOX India Limited received patent rights for the cold storage unit from the Patents Office, Government of India.
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The patent is titled, “Cryogenic Liquid Based Variable Temperature Cold Storage Unit And Method”.
Previous News:
On 5th February, INOX India and Adani Total Gas Limited entered into a mutual support agreement, under which both the companies will mutually accord a “preferred partner” status for the delivery of LNG and LCNG equipment and services for identifying and exploring possible collaboration opportunities for strengthening the LNG ecosystem in India.
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On 3rd April, INOX India received patent rights from the Patents Office, Government of India, for the inner vessels dewar type container.
The patent was titled, “A Method For Suspending Inner Vessels Of Dew Ar Type Container To Store Cryogenic Fluid,” bearing patent no. 530403.
Financials:
The company experienced a fall in its revenue from operations, showing a year-on-year decline of around 4 percent from Rs. 308.5 crores in Q1 FY24 to Rs. 296.4 crores in Q1 FY25.
Similarly, its net profit decreased during the same period from Rs. 57 crores to Rs. 52.6 crores, representing a decline of 7.7 percent YoY.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) decreased from Rs. 80 crores in Q1 FY24 to Rs. 75.6 crores in Q1 FY25, registering a decline of 5.5 percent.
In Q1 FY25, INOX India achieved its highest Order Backlog, which increased by 11.4 percent YoY. The company’s order inflow for the quarter reached Rs. 310 crores, reflecting an 8.4 percent YoY growth.
The Order Backlog, totalling Rs. 1,105 crores, is distributed as follows: 50 percent from the Industrial Gas, 23 percent from LNG, and 27 percent from the Cryo Scientific Division.
Notably, the export orders comprised 51 percent of the Order Backlog. Stock Performance
Shares of INOX India have delivered positive returns of nearly 29.4 percent in one year and around 4.5 percent in the last six months. So far in 2024, the stock has given about 38.5 percent of positive returns.
About the Company:
INOX India Limited is engaged in offering solutions across the design, engineering, manufacturing and installation of equipment and systems for cryogenic conditions.
The company’s offering includes standard cryogenic tanks and equipment, stainless steel kegs, bespoke technology, equipment and solutions as well as large turnkey projects used in diverse industries. Additionally, it manufactures a range of cryogenic equipment utilised in global scientific research projects.
Written by Shivani Singh
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