Vadodara/Mumbai, Feb 08th, 2025: INOX India Ltd (INOXCVA) has released its unaudited financial results for the third quarter ended December 31, 2024, as approved by the Board of Directors. The results highlight consistent improvements in both financial and operational performances. Quarterly revenue stood at an highest-ever mark of ₹349 Cr, marking a 18.2 % year-on-year growth. EBITDA for the quarter was at ₹83 Cr, up by 17%. Profit After Tax (PAT) rose to ₹57 Cr, reflecting a 17.4% YoY growth.

Exports accounted for 51% of quarterly revenue in Q3’FY25, with export sales reported at ₹179 Cr, reflecting continued international demand. The Company secured order inflows totalling ₹493 Cr, taking total order book to ₹1,341 Cr, underscoring strong market confidence in the industrial gases, and clean energy domains, globally.

Deepak Acharya, Chief Executive Officer – INOX India Ltd, said, ““We are encouraged by the strong growth trajectory of our core business, which continues to perform well. At the same time, we have benefitted from the new-age energy domains, particularly in Liquid Air Storage and Mini LNG Terminals, which resulted in a substantial order inflow this quarter. These developments reaffirm our ability to stay ahead of industry trends and cater to evolving customer needs. The uptick in the LNG segment depicts immense growth potential as it gains traction as a sustainable alternative transit fuel, relevant to marine as well as surface transportation. This shift enables us to work closely with our customers to drive efficiency, innovation, and environmental responsibility. Additionally, our growing footprint in export markets highlights our commitment to delivering world-class solutions to international clients while reinforcing our leadership in niche segments. As we move forward, we remain focused on driving long-term growth through operational excellence, innovation, and customer-centric strategies, ensuring sustained value creation for our shareholders.”

The Industrial Gases division continued to be the largest revenue contributor, accounting for 68% of total revenue. During the quarter, a significant contract from Highview Power, UK was received for their upcoming Liquid Air Storage (LAES) facility, which is also the first instance of cryogenic tanks being used at industrial scale for the storage of clean energy. The traction in the Hydrogen space underscores tremendous growth opportunities for the Company.

The LNG Division witnessed buoyancy, thanks to a milestone order from Island Power Producers for a Mini LNG terminal at the Bahamas. Among the largest Mini LNG Terminals for the Company, it is also the largest installation of shop built double-walled vacuum insulated LNG storage tanks in the world. The increasing use of LNG fuel tanks by transport OEMs opens up tremendous potential for the Company to create a mark in this ever-evolving space.

The Cryo-Scientific Division’s (CSD) share stood at a healthy 13% of total revenue. The Company received repeat maintenance order from ITER, France as well as an order from Wroclaw University of Science and Technology (WUST), Poland for Feed Boxes. The Company became first organization in the country to receive the certification of FSSC 22000 of Kegs for Beverage and Food Application, providing a fillip to the Beverage Kegs vertical.