Want to see IN:INOXINDIA full AI Analyst Report?
Top Page
INOX India Limited
(INOXINDIA)
Select Model
Select Model
Rating:69Neutral
Price Target:
₹2,391.00
▲(26.18% Upside)
Action:Reiterated
Date:08/28/26
The score is primarily supported by strong financial performance (growth, profitability, and low leverage), but it is held back by weak cash-flow conversion. Technicals are positive with a strong uptrend, though momentum looks stretched. Valuation is a key headwind due to the very high P/E and minimal dividend yield.
Positive Factors
Sustained Revenue Growth
Strong multi-year growth indicates expanding demand for cryogenic equipment and systems. Continued adoption across industrial gases, LNG, healthcare, and process industries can support revenue momentum over the next several quarters.
Negative Factors
Weak Cash-Flow Conversion
Reported earnings are not consistently converting into cash, suggesting working-capital demands or reinvestment needs. Persistent conversion weakness could limit self-funded growth and make project expansion more dependent on balance-sheet resources.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Strong multi-year growth indicates expanding demand for cryogenic equipment and systems. Continued adoption across industrial gases, LNG, healthcare, and process industries can support revenue momentum over the next several quarters.
Read all positive factors
INOX India Limited (INOXINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹195.98B
Dividend Yield0.1%
Average Volume (3M)30.62K
Price to Earnings (P/E)73.2
Beta (1Y)0.93
Revenue Growth19.94%
EPS Growth8.67%
CountryIN
Employees752
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)28.08
Shares Outstanding90,922,460
10 Day Avg. Volume23,256
30 Day Avg. Volume30,618
Financial Highlights & Ratios
PEG Ratio2.93
Price to Book (P/B)9.54
Price to Sales (P/S)6.76
P/FCF Ratio3.76K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)35.66
Revenue Forecast (FY)₹18.86B
INOX India Limited Business Overview & Revenue Model
Company Description
INOX India Limited manufactures and supplies cryogenic liquid storage and transport tanks for gas companies and engineering, procurement, and construction (EPC) companies in India and internationally. It also offers industrial gas equipment compri...
How the Company Makes Money
INOX India makes money primarily by selling engineered cryogenic products and by executing end-to-end cryogenic system projects.
1) Product sales (manufacturing revenue)
- Stationary cryogenic storage solutions: Revenue is generated from designin...
INOX India Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.18B | 15.78B | 12.80B | 11.28B | 9.66B | 7.58B |
| Gross Profit | 8.23B | 4.59B | 5.60B | 4.94B | 3.87B | 3.14B |
| EBITDA | 3.83B | 3.39B | 3.28B | 2.79B | 2.22B | 1.88B |
| Net Income | 2.55B | 2.58B | 2.26B | 1.96B | 1.55B | 1.30B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 20.16B | 16.55B | 12.23B | 11.48B | 8.97B |
| Cash, Cash Equivalents and Short-Term Investments | 3.13B | 3.20B | 2.91B | 2.53B | 3.09B | 3.20B |
| Total Debt | 0.00 | 810.40M | 432.49M | 161.46M | 89.88M | 545.38M |
| Total Liabilities | -11.18B | 8.98B | 7.82B | 5.50B | 5.98B | 3.94B |
| Stockholders Equity | 11.18B | 11.18B | 8.74B | 6.49B | 5.49B | 5.02B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 28.33M | 1.20B | 241.70M | 1.30B | 531.12M |
| Operating Cash Flow | 0.00 | 1.09B | 1.22B | 1.26B | 1.77B | 970.37M |
| Investing Cash Flow | 0.00 | -1.11B | -1.39B | -280.80M | -120.86M | -745.65M |
| Financing Cash Flow | 0.00 | 144.02M | 171.53M | -1.03B | -1.54B | -261.33M |
INOX India Limited Technical Analysis
Neutral
1894.90
Price Trends
2031.82
Positive
1871.16
Positive
1537.68
Positive
Market Momentum
18.06
Positive
47.77
Neutral
49.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INOXINDIA, the sentiment is Neutral. The current price of 1894.9 is below the 20-day moving average (MA) of 2137.80, below the 50-day MA of 2031.82, and above the 200-day MA of 1537.68, indicating a neutral trend. The MACD of 18.06 indicates Positive momentum. The RSI at 47.77 is Neutral, neither overbought nor oversold. The STOCH value of 49.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INOXINDIA.
INOX India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹191.08B | 42.17 | ― | 0.45% | 15.94% | 23.70% | |
71 Outperform | ₹140.71B | 36.84 | ― | 0.40% | 5.04% | -10.39% | |
69 Neutral | ₹195.98B | 73.22 | ― | 0.10% | 19.94% | 8.67% | |
64 Neutral | ₹12.38B | 9.58 | ― | 0.66% | -7.34% | 3.13% | |
57 Neutral | ₹65.59B | 33.26 | ― | 0.68% | 19.79% | -16.99% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹142.36B | -1.90 | ― | 0.55% | 4.63% | -4.40% |
* General Sector Average
IN:INOXINDIA
INOX India Limited
2,050.00
873.22
74.20%
IN:EKC
Everest Kanto Cylinder Limited
106.85
-37.84
-26.15%
IN:ELGIEQUIP
ELGI Equipments Limited
598.65
118.84
24.77%
IN:ISGEC
ISGEC Heavy Engineering Ltd.
882.85
11.26
1.29%
IN:KIRLOSBROS
Kirloskar Brothers Ltd.
1,734.60
-189.92
-9.87%
IN:KSB
KSB Ltd.
799.90
-17.51
-2.14%
INOX India Limited Corporate Events
INOX India files AGM voting results and scrutinizer report with exchanges
Jun 23, 2026
INOX India Limited reported that its Annual General Meeting for the financial year was held on June 23, 2026, at noon via video conferencing and other audio-visual means, in line with applicable provisions of the Companies Act and regulatory circu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.