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Industrial gas company INOX India has secured fresh orders worth ₹939 crore ($100m), just weeks after reporting its highest-ever quarterly and annual revenue.
The latest contracts follow a FY25 financial performance, when it posted quarterly revenue of ₹475 crore ($50m) and annual revenue of ₹1,632 crore ($172m).
At the time, industrial gas accounted for half of fourth-quarter revenue, supported by strong export demand, robust order inflows and record transport tank deliveries.
Industrial gas projects dominate the latest order intake, accounting for ₹871 crore ($91.6m), or more than 90% of the total value.
The contracts cover air separation units, storage tanks, vaporizers and other cryogenic equipment, underlining the segment as the company’s primary growth engine.
The order book also includes ₹44 crore ($4.6m) in liquefied natural gas (LNG)-related business, alongside contracts in the cryo-scientific solutions and beverage keg segments.
Among the awards is a major industrial gas contract worth more than ₹150 crore ($15.8m) from the global space exploration sector. INOX also secured an order for the ITER fusion project, while its LNG business received contracts for storage tanks, dispensers, semi-trailers and LNG fuelling station equipment.
The latest orders build on project deliveries made earlier this year. In April, INOX India dispatched its of cryogenic tanks from Deendayal Port for a mini-LNG terminal project in the Bahamas, marking another milestone in the company’s international activities.
According to CEO Deepak Acharya, the latest contracts reinforce the company’s position as a partner for “mission-critical” cryogenic solutions.
“As we continue to expand our presence across strategic sectors and geographies, we are witnessing strong momentum in the adoption of cryogenic technologies for increasingly sophisticated applications, particularly in the space sector,” he said.
The latest order intake suggests the momentum behind INOX India’s record FY25 results has carried into the new financial year. That momentum has also been supported by strategic developments beyond its order book.
The company became India’s first cryogenic equipment manufacturer to receive the IATF 16949 for cryogenic fuel tank manufacturing last year.
At the time, INOX said the certification will enable it to bridge the gap between cryogenic technology and automotive applications, particularly when it comes to the LNG fuel tank sector.
