INOXINDIACapital Goods

INOX India Limited

Other Industrial Products · ISIN INE616N01034 · BSE 544046 · NSE EQ · FV ₹2
Last price
₹2,015
+1.81%today
What this company does

INOX India Limited operates in Other Industrial Products, part of the Capital Goods sector. It booked ₹371 cr of revenue in its latest quarter (Q1 FY27) and kept 16.3% of sales as profit. It is the 2nd largest of 9 Other Industrial Products companies we track, by market value.

INOXCVA has positioned itself as a dominant force in the specialised domain of vacuum insulated cryogenic equipment globally. Our expertise spans across activities ranging from conceptualisation to execution, including design, engineering, manufacturing, delivery and the seamless integration of turnkey solutions.
In the report:
62out of 100
Equitytale Health Score
Mixed

Healthier than 62% of companies in Capital Goods, on the 5 of 6 measures we could read for it. Each measure is ranked against the 90–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
45

At close. Not part of the score.

Profitability & returns77

How much profit it earns on the money it employs

Balance sheet65

How much it owes, and whether earnings cover the interest

Cash quality47

Whether reported profit actually arrives as cash

Valuation21

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 16% net margin
Sales up 9% vs last year
Promoters hold 75%
No promoter shares pledged
Strong 22% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in INOXINDIA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own revenue trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹2,015 +1.81%
latest close · 2026-09-17
52-wk low ₹1,82442 sessions so far52-wk high ₹2,340
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio78.7High
LowAverageHigh
P/B ratio16.36High
Below bookModerateHigh
EV / EBITDA52.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity21.7%Strong
WeakFairStrong ▸15%
Return on capital27.1%Strong
WeakFairStrong
Net margin16.3%Strong
ThinDecentStrong
EBITDA margin23.4%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.06Comfortable
LowModerateHigh ▸1
Interest cover48.5×Strong
RiskyOkayStrong ▸5×
Current ratio1.78Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹18,287 cr
Book value
₹123
EPS
₹6.40
latest quarter
Net debt
₹53 cr
owes more than its cash
Enterprise value
₹18,341 cr
EBITDA
₹347 cr
annualised
EBIT
₹309 cr
annualised
Operating margin
20.8%
Return on assets
12.0%
Earnings yield
1.27%
P/S
12.33
Sales / share
₹163.4
Tax rate
23.2%
Face value
₹2
Shares
9.1 cr
Working capital
₹680 cr
Current assets
₹1,555 cr
Current liabilities
₹875 cr
Delivery %
35.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹208₹344, midpoint ₹263

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹371 cr
Other Income₹11 cr
Total Income₹382 cr
Cost of Materials₹150 cr
Purchases of Stock-in-Trade₹8.4 L
Inventory Change (±)₹-6 cr
Employee Benefit Expense₹42 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹9 cr
Other Expenses₹109 cr
Total Expenses₹306 cr
Profit before Tax₹76 cr
Tax Expense₹18 cr
Net Profit₹58 cr
Net margin on total income15.2%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹144 cr37.8%
Employee benefit expense₹42 cr11.1%
Finance costs₹2 cr0.4%
Depreciation & amortisation₹9 cr2.5%
Other expenses₹109 cr28.5%
Tax expense₹18 cr4.6%
Profit for the period₹58 cr15.2%
Total income ₹382 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue429 cr461 cr371 cr
Total income436 cr475 cr382 cr
Expenses347 cr379 cr306 cr
Profit before tax80 cr100 cr76 cr
Tax20 cr25 cr18 cr
Net profit (owners' share)61 cr75 cr61 cr
Net margin (owners' share, on revenue)14.2%16.3%16.3%
EPS (₹)6.698.296.40
YoY (latest quarter): total income +8.3% · net profit -0.6%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹2,016 cr
Shareholder equity
₹1,118 cr
parent shareholders
Total debt
₹70 cr
Cash
₹16 cr
Cash flow · H1 FY26
Operating
₹26 cr
Investing
₹-38 cr
Financing
₹35 cr
Peer comparison
Other Industrial Products · by market value
CompanyPriceMarket capP/E
HBL Engineering Limited₹757₹20,977 cr47.9
INOX India Limitedthis company₹2,015₹18,287 cr78.7
KRN Heat Exchanger and Refrigeration Limited₹1,393₹9,117 cr67.0
Esab India Limited₹5,619₹8,646 cr38.5
Subros Limited₹690₹4,500 cr27.1
Harsha Engineers International Limited₹434₹3,950 cr26.4
Ador Welding Limited₹1,564₹2,722 cr24.7
Diffusion Engineers Limited₹436₹1,631 cr24.4
MIC Electronics Limited₹34₹821 cr94.6
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.10%
trailing 12 months
Dividend / share (TTM)
₹2
Last dividend
₹2
ex 9 Jun 2026
ActionDetailEx-date
Dividend₹2 / share9 Jun 2026
Dividend₹2 / share4 Jun 2025
Who owns it · 2026-06-30
No pledge
Promoter
74.9%
FII / Foreign
6.9%
DII / Domestic
7.7%
Retail / others
10.6%
Promoter stake down 0.1% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtIshita Jain · Promoters25.38 L16 Feb 26
BoughtSiddharth Jain · Promoters28.54 L16 Feb 26
SoldParag Padmakar Kulkarni · Director35,268 · ₹3.2 cr25 Feb 25
Bulk / block deals
short · NSE115 Sep 26
short · NSE23 Sep 26
short · NSE35026 Aug 26
Stake changes
BoughtSiddharth Jain, Ishita Jain along with pac · promoter→ 73.61% · 53.91 L16 Feb 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 26 Mar 2026
See the official result
1
Continuation of Directorship of Mr. Pavan Kumar Jain (DIN: 00030098) Non-Executive, Non-Independent Director, in the capacity of Chairman of The Company, Post Attaining the Age of 75 Years.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
1.30 cr votes for, 42,177 against · 0% of mutual funds and other big investors said no
2
Approval of Material Related Party Transaction(s) with INOX Air Products Private Limited.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
1.28 cr votes for, 103 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 41 named members
owning 74.9% between them · as of 2026-06-30
SIDDHARTH JAIN37.28%
PAVAN KUMAR JAIN16.42%
NAYANTARA JAIN15.72%
ISHITA JAIN4.20%
MANJU JAIN0.70%
LATA MADHUSUDAN RUNGTA0.55%
Araadhya Jainno shares
Arunkumar Roongta (HUF)no shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.