Inox India (INOXCVA) INOXINDIA
Cryogenic tank and equipment maker (LNG, industrial gases, liquid hydrogen) at Kandla and other plants
Mapped in 1 theme: Green Hydrogen Mission.
Where Inox India (INOXCVA) sits in the supply chain
Inox India (INOXCVA) appears in 2 supply-chain layers in one theme, Green Hydrogen Mission.
Green Hydrogen Mission › Balance of plant
Direct supplierOther companies in this layer
Green Hydrogen Mission › Storage, pipelines & ports
Direct supplierOther companies in this layer
Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 783 | 966 | 1,133 | 1,306 | 1,587 |
| Net profit | 130 | 155 | 196 | 226 | 258 |
Latest-year revenue ₹1,587 Cr (FY26, company-wide).
Note: Hydrogen equipment is a small share of revenue.
Strengths
- Built India's largest liquid hydrogen tank (238 m³) for Air Liquide's Korean project, shipped from Kandla in Aug 2022
- Kandla plant sits beside the Deendayal green hydrogen hub
- Existing LNG and industrial-gas customers overlap with hydrogen users
Risks
- Most hydrogen exports will move as ammonia, which needs different tanks
- Hydrogen orders are occasional, not a steady stream
Common questions
What does Inox India (INOXCVA) do?
Cryogenic tank and equipment maker (LNG, industrial gases, liquid hydrogen) at Kandla and other plants.
Where does Inox India (INOXCVA) sit in the supply chain?
Inox India (INOXCVA) (NSE: INOXINDIA) is mapped in 2 supply-chain layers: Balance of plant (Green Hydrogen Mission); and Storage, pipelines & ports (Green Hydrogen Mission).
Who are Inox India (INOXCVA)'s peers?
In the Storage, pipelines & ports layer of Green Hydrogen Mission: GAIL (India), Adani Ports and SEZ, Deendayal Port Authority (Kandla) (not NSE-listed) and Paradip Port Authority (not NSE-listed).
What is Inox India (INOXCVA)'s market cap and valuation?
As of 6 Nov 2026: market cap ₹17,017 Cr, P/E 64.4x, ROCE 33.5%, ROE 26.1%, dividend yield 0.11%.