The company reported a strong Q4FY25, which saw its highest-ever revenue and EBITDA. Revenue rose 33.6% year-on-year, while EBITDA surged 53.4%. For the full year, the company reported moderate growth of 15-20% in topline, EBITDA and PAT.
Jain said all three of INOX India’s business verticals — industrial gas LNG, cryo-scientific, and beverage containers — are showing strong growth momentum. The company is also seeing the benefits of a strategy shift made during its IPO, where it chose to focus more on export-oriented orders. “Our strategy, which we laid out over two years ago during the IPO — focusing more on export jobs — has also played out,” he said.
Rather than chasing annual growth targets, Jain said the company takes a long-term view. “We don’t look at it on a year-on-year basis. We look at it in blocks of five years. We’re here for the long run,” he added.
Margins, which remain in the 21–23% range, are not a near-term focus area. Jain said maintaining profitability while expanding market share and building technology leadership is more important. “The aim is not to expand our margin… We would like to focus on capturing a larger market share, doing more first-of-its-kind products, and being a global leader in the cryogenics industry.”
Among the company’s divisions, the cryo-scientific segment continues to deliver the highest margins, followed by LNG. Jain attributed this to the complexity and technological edge of its equipment, especially in niche sectors like space and nuclear fusion.
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(Edited by : Ajay Vaishnav)