INOX India order wins: ₹322 crore start to FY27

Stock snapshot as trading turns volatile

INOX India Ltd (NSE: INOXINDIA, BSE: 544046) was last cited at ₹1,806.40 on 7 July 2026, down ₹66.30 or 3.54% as of 04:06 PM. The move was described in the context of a pullback after a recent rally linked to order announcements. During the session, the stock traded between a high of ₹1,880.8 and a low of ₹1,788.4, reflecting a wide intraday band.

Market capitalisation was stated at ₹16,395.51864 crore based on the latest share price in the provided data. A separate market snapshot also showed a market cap of ₹16,997.28 crore when the stock was at ₹1,872.70, indicating that the reported value moved with the price.

Profit-taking after a post-order rally

The stock was also described as snapping a three-day gaining streak as investors took profits after a post-order rally. The broader narrative around the counter in recent months has been driven by a steady cadence of order-win updates across LNG, industrial gas and other cryogenic equipment lines.

Another referenced report said the stock had reversed recent losses and, at one point, rallied 7% on heavy volumes to hit a new high in a weak market. In that instance, the share price was cited at ₹1,697.95 intraday on the BSE, with the stock up 5% at ₹1,660.05 at 11:24 AM even as the Sensex was down 0.8%.

₹322 crore orders since April 2026 across three segments

INOX India disclosed that it secured orders worth ₹322 crore since April 2026, spanning its Industrial Gas, LNG and Cryo-scientific segments. The same update noted that the Industrial Gas vertical contributed ₹242 crore of this total.

The company also flagged a large order for 1,500 m³ cryogenic storage tanks from a global private space exploration company as part of the Industrial Gas inflows. CEO Deepak Acharya was cited as saying the strong start to FY27 provides clear growth visibility.

Segment-wise split for the ₹322 crore intake

The order split in the update included ₹242 crore in Industrial Gas, ₹39 crore in LNG, and ₹38 crore in Cryo-scientific solutions, along with other orders. This mix is important because it shows that the near-term pipeline is not reliant on a single end-market.

Another related note described equipment in the order mix such as LNG and industrial gas storage tanks, vaporizers, and other cryogenic equipment, with deliveries scheduled across Europe, the US, and India.

Another order update: ₹373 crore in FY26 so far

A separate order-win update stated that INOX India had received orders worth ₹373 crore in the current fiscal 2025-26 (FY26) so far. These were said to span industrial gas, cryo-scientific solutions, LNG and beverage kegs.

The split for this ₹373 crore intake was listed as ₹151 crore for cryo-scientific solutions, ₹141 crore for industrial gas, and ₹71 crore for LNG. The same text also mentioned that shares rebounded from the day’s low after this announcement.

Order backlog and export mix highlighted by management

Management commentary in the provided text referenced a backlog of about ₹1,514 crore, with exports at about 63% of the order book. Another line stated that order inflows totalled ₹504 crore, taking the total order backlog to ₹1,514 crore.

The same management message described strong project-led revenue and margin growth, tempered by elevated working capital and cash-conversion pressure. It also pointed to project wins including LNG terminal sales, a large aerospace order, and record transport tank dispatches, with a focus on converting backlog into revenue.

FY26 financials: income and profitability metrics

INOX India’s total income for FY26 was stated at ₹1,632 crore, with adjusted EBITDA of ₹388 crore, implying an EBITDA margin of 23.8%. FY2026 results were described as strong, with total income up about 21.2% year-on-year.

For FY27, management reaffirmed a top-line target of roughly ₹1,600 to ₹1,632 crore, described alongside an 18% to 20% growth expectation. It also indicated an expected quarterly order intake of ₹450 to ₹500 crore and a plan to convert at least ₹1,200 crore of backlog, while noting logistics and geopolitical disruptions as a wildcard.

Beverage kegs and customer approvals

The data set also referenced an update that INOX India secured approvals from Heineken and AB InBev for manufacturing beverage kegs. Another order update explicitly included beverage kegs within the segments contributing to fresh orders in the fiscal year.

Institutional ownership reference: Goldman Sachs

A snapshot in the provided content referenced Goldman Sachs with a holding value of ₹353.769892 crore. It also listed a Goldman Sachs fund line with a 2.16% holding.

Key numbers at a glance

Orders and order book summary

Market impact and what investors are tracking

The immediate market reaction in the provided text ranged from sharp intraday gains following order announcements to profit-taking that pulled the stock lower. Returns were also listed as: past 1 week -5.40%, past 1 month 15.97%, past 3 months 47.41%, past 6 months 58.30%, and past 1 year 45.52%.

From a fundamentals standpoint, the key watch-items highlighted were order intake cadence, backlog conversion, and working capital intensity, especially for export-heavy, project-led deliveries. The company has also guided to quarterly order intake of ₹450 to ₹500 crore and backlog conversion of at least ₹1,200 crore, which will be central to how revenue visibility translates into execution.

Conclusion

INOX India’s recent updates have been anchored around a ₹322 crore order intake since April 2026 and a stated backlog of about ₹1,514 crore, alongside FY26 income of ₹1,632 crore and adjusted EBITDA of ₹388 crore. The stock, however, has seen alternating bursts of rally-driven momentum and profit-taking, with the latest cited session showing a 3.54% decline to ₹1,806.40. The next set of signals for investors will be further order disclosures, execution progress on the stated backlog conversion plans, and any follow-through on segment additions such as beverage kegs.