Inox India Q2 FY27 Results: Consolidated Net Profit ₹66.56 Crore on Total Income of ₹467 Crore
- Earnings
- cryogenic equipment
Reviewed byKeshav SehgalBlacklitt Research
Inox India (NSE: INOXINDIA) reported consolidated total income of ₹467.34 crore and net profit of ₹66.56 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was ₹455.39 crore and standalone net profit ₹64.59 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹467.34 crore, up 26.6% YoY and 22.5% QoQ
- Net profit and EPS: ₹66.56 crore, up 9.4% YoY; basic EPS ₹7.32 against ₹6.70
- Finance costs: ₹1.05 crore, down 47.6% YoY from ₹2.00 crore
Standalone
The company on its own, without its subsidiaries
- Total income: ₹455.39 crore, up 24.5% YoY and 23.7% QoQ
- Net profit and EPS: ₹64.59 crore, up 10.2% YoY; basic EPS ₹7.10 against ₹6.46
- Borrowings: Nil at 30 Sep 2026 against ₹69.50 crore at 31 Mar 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 467.34 | 369.07 | +26.6% | 381.60 | +22.5% | |
| Revenue from operations | 456.48 | 358.22 | +27.4% | 370.79 | +23.1% |
| Other income | 10.85 | 10.85 | 0.0% | 10.81 | +0.4% |
| 66.56 | 60.84 | +9.4% | 58.07 | +14.6% | |
| Profit before tax | 88.80 | 81.19 | +9.4% | 75.59 | +17.5% |
| Finance costs | 1.05 | 2.00 | -47.6% | 1.59 | -34.2% |
| Depreciation | 9.87 | 7.62 | +29.5% | 9.50 | +3.9% |
| Tax expense | 22.23 | 20.35 | +9.2% | 17.50 | +27.0% |
| Net profit margin | 14.24% | 16.48% | -2.24 pp | 15.22% | -0.98 pp |
| EPS, basic (₹) | 7.32 | 6.70 | +9.3% | 6.40 | +14.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Income grew faster than profit this quarter. Total income rose 26.6% YoY and net profit rose 9.4%, with tax expense up 9.2% and depreciation up 29.5%.
Finance costs fell to ₹1.05 crore from ₹2.00 crore a year earlier, which is 0.2% of total income. Other income was flat at ₹10.85 crore and made up 12.2% of profit before tax of ₹88.80 crore, so the quarter's profit leans on operations rather than on other income.
The notes read show one exceptional item in the standalone figures: ₹2.00 crore in the year-earlier quarter, shown as settlement receipts from the CVA Inc matter. The filing does not say whether any exceptional item affects the current quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 455.39 | 365.86 | +24.5% | 368.13 | +23.7% | |
| Revenue from operations | 445.32 | 355.56 | +25.2% | 357.00 | +24.7% |
| Other income | 10.07 | 10.30 | -2.2% | 11.13 | -9.5% |
| 64.59 | 58.61 | +10.2% | 56.37 | +14.6% | |
| Profit before tax | 86.43 | 78.33 | +10.3% | 73.09 | +18.3% |
| Finance costs | 0.80 | 1.90 | -57.8% | 1.42 | -43.3% |
| Depreciation | 8.49 | 7.51 | +12.9% | 8.17 | +3.9% |
| Tax expense | 21.84 | 19.52 | +11.9% | 16.72 | +30.6% |
| Net profit margin | 14.18% | 16.02% | -1.84 pp | 15.31% | -1.13 pp |
| EPS, basic (₹) | 7.10 | 6.46 | +9.9% | 6.21 | +14.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 10.2% YoY, slower than total income at 24.5%.
Standalone tax expense rose 11.9% to ₹21.84 crore, which is 25.3% of profit before tax of ₹86.43 crore. Depreciation rose 12.9% and finance costs fell 57.8%, to ₹0.80 crore.
Inference
The press release says the order backlog crossed ₹2,268 crore, the highest in the company's history, and that export revenue was 60% of total revenue in the quarter. Its statement that the backlog provides revenue visibility is the company's own view.
The filing says standalone borrowings were nil at 30 Sep 2026 after net repayment of ₹69.50 crore of short-term borrowings in the half year, and that ₹18.15 crore of dividend was paid in the half year. The filing does not say what the company plans for its cash or future dividends, nor the reason for the rise in standalone revenue and profit beyond what the press release describes.
Filed with BSE on . Reference: Original filing (PDF)
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