Shares of INOX India Ltd declined 2.77% to ₹1,142.30 in early trade on Monday after the company reported its financial results for Q1 FY26. While the company posted a 16.1% year-on-year rise in net profit to ₹61.1 crore and a 14.6% increase in revenue to ₹339.6 crore, investor sentiment seemed dampened by declining operating margins.
EBITDA for the quarter rose 8.9% YoY to ₹76.3 crore, but the EBITDA margin slipped to 22.5% from 23.6% in the same period last year. The contraction in margins, despite robust revenue and profit growth, appears to have led to the negative stock reaction.
In the cryo scientific division (CSD), the company secured a prestigious order from the ITER project for the refurbishment of the cryostat thermal shield (CTS), valued at approximately ₹145 crore. This follows the successful execution of the vacuum vessel thermal shield (VVTS). INOX India will carry out 90% of the fabrication work in-house, while also handling on-site execution.
Meanwhile, the keg division is witnessing renewed interest, with audit approvals from global brewing giants Heineken and AB InBev, as well as two Brazilian breweries. A major order from a German client also points to a potential uptick in the segment’s growth trajectory.
As of 9:36 AM, the stock traded at ₹1,142.30, down ₹32.60 from the previous close, with a market capitalization of ₹103.53 billion.
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