AI-generated · cited to primary sources · not investment advice
Inox India (544046) Feb 2026 Filing Analysis
Does management do what it says?
Total income for the first 9 months of FY26 grew by 20% Y-o-Y, hitting the upper end of the annual guidance range. (5 exceeded across 5 tracked commitments)
“So my question is on the execution. Last time around, you had mentioned that about INR900 crores of revenue will be executed in second half of FY '26, which entails about INR470 crores in the last quarter. So are we on track to achieve that? Or will we exceed it? Deepak Acharya: We are absolutely on track, and we can perform perhaps better than this.”
The company is developing a prototype for data center cooling systems with a German partner, expected in 6 to 8 months. — target: Prototype development
“Yes, we are very close to a discussion with one of the German companies... we are expecting a small prototype to be developed first... the chances that it will happen is around 6 to 8 months, in the next coming few months now.”
Management expects to cross the target of 2 million disposable cylinders in the current year. — target: 2 million units
“The disposed cylinder, we are doing very well. And we will cross our target of 2 million cylinders this year.”
The company aims to achieve sales of 60,000 to 70,000 beer kegs in Q4 FY '26. — target: 60,000 to 70,000 units (+1 more commitment)
“We'll try to -- order book of around 100,000 and sale of around 60,000 to 70,000, we will try to achieve in Q4 because it's continuously working now.”
See the full cited Management analysis of Inox India
How durable is the business?
The order backlog for the Cryo-Scientific division is expanding, growing from 19% share of the total backlog to 25% in the current quarter. (1 expanding)
“Segment wise,Qtr.wise (QoQ,YoY ) Order Backlog % ... CSD ... Q3FY25 19% ... Q3FY26 25%”
See the full cited Business Model analysis of Inox India
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