Incorporated in 1976, Inox India Limited is engaged in the manufacturing of cryogenic equipment. The company has over 30 years of experience in designing, engineering, manufacturing, and installing equipment and systems for cryogenic conditions.
The company conducts business activities via 3 divisions: Industrial Gas, Liquified Natural Gas (LNG), and the Cryo Scientific division. The industrial division manufactures and installs cryogenic tanks for the storage of industrial gases like green hydrogen, oxygen, etc. The LNG division manufactures and supplies LNG storage and distribution solutions. The cryo-scientific division provides solutions for research involving cryogenic distribution. The company derived the majority of revenue from the Industrial Gas division at around 70.88%, followed by 24.89% from LNG and the remaining 4.23% from the Cryo Scientific division in FY 2023.
The company believes that the global cryogenic equipment demand is expected to grow at a CAGR of 6.8% in 2022-2027. The global focus on reducing carbon emissions from conventional energy sources has resulted in higher demand for cleaner fuels, such as LNG and hydrogen. In addition, this is likely to increase the uptake of cryogenic equipment across geographies.
Inox India Ltd IPO Details
Inox India Ltd IPO Date
The dates for bidding for the Inox India IPO are Thursday, December 14, 2023, to Monday, December 18, 2023.
Inox India Ltd IPO Price Band
Inox India is a book-built IPO. The price range are ₹627 to ₹660.
Inox India Ltd IPO Lot Size
The Inox India Ltd IPO lot size is 22 shares.
Inox India Ltd IPO Objectives
This IPO is purely an offer for sale, so the proceeds of the IPO will not be received by the company.
Peer Details
There are no listed companies in India that engage in a business similar to Inox India.
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Contact Details of Inox India Ltd
Registered office: 9th Floor, K P Platina, Racecourse, Vadodara - 390 007, Gujarat, India
Phone: +91 265 6160100
E-mail: secretarial.in@inoxcva.com
Company Financials
| Particulars ₹ in millions) | Year Ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Total Income | 9,841.99 | 8,037.13 | 6,089.92 |
| Profit After Tax (PAT) | 1,527.14 | 1,527.14 | 961.07 |
| Total Assets | 36.83% | 31.27% | 31.01% |
| Total Borrowings | 27.89 | 30.56 | 1.69 |
| Current Ratio | 1.67 | 1.99 | 1.77 |
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Strengths
3The company offers a large portfolio of specialised cryogenic equipment engineered to global quality standards. The demand for the company’s product is increasing as cleaner fuel will likely witness growth soon.
The company earns revenue from the diversified domestic and international customer base across industry sectors.
The company will focus on expanding its standard cryogenic and non-cryogenic equipment business into international markets.
Risks
3The manufacturing is done entirely out of only 3 facilities, two in Gujarat and one in the nearby union territory of Dadra and Nagar Haveli and Daman and Diu. Any social or economic disturbance in the region may hamper the company’s supply chain.
The company operates a highly capital-intensive business, which requires ample funds to run its operations smoothly. Any disruption in the sources of financing may harm its operational and financial performance.
Production and storage of cryogenic gases is a risky process. Their leakage poses health hazards and risks as prolonged exposure to cryogen can cause frostbite and damage to the lungs. Secondly, discharge of the cryogen into an enclosed area can lead to oxygen deficiency in the area too. Hence, any operational failures can have a long-lasting impact on the company’s brand.
