INOX India’s shares surged by approximately 13% in early trading on February 27, driven by the recent announcement of an international certification for its cryogenic fuel tanks, which was made public three days earlier.
INOX India stock touched an intraday high to 1,041. 85 apiece on Thursday’s trading session.
On February 24, the company stated that it had become India’s first cryogenic equipment manufacturer to secure the esteemed IATF 16949 certification. This recognition was granted following a thorough audit of INOX India’s facility in Kalol, located in Panchmahal, Gujarat.
Bureau Veritas Certification grants this certification to ensure compliance with the design and production standards for insulated cryogenic fuel tanks, making it a mandatory requirement for automotive OEM suppliers. It also confirms the company’s adherence to quality management standards.
INOX India Q3FY25 performance
According to the company’s Q3FY25 results, revenue rose by 14.8 per cent year-on-year (YoY) to ₹334 crore. EBITDA saw a 3 per cent YoY increase to ₹69 crore, while the EBITDA margin contracted by 220 basis points to 20.7 per cent. Net profit jumped 20 per cent YoY to ₹58 crore, primarily driven by a 78 per cent surge in other income.
The company has recently secured significant projects and initiated capacity expansion, which impacted revenue growth. However, the management remains optimistic about a stronger performance in Q4FY25 and FY26. INOX India anticipates an 18-20% year-on-year revenue growth in the fourth quarter, exceeding ₹400 crore.
As of December 31, 2024, the company’s order backlog stood at ₹1,341 crore, with Q3FY25 order inflows amounting to ₹493 crore. INOX India maintains a robust global footprint, with exports contributing approximately 55% of its total revenue. The company has successfully established its presence in over 100 countries.
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