Power & Infrastructure

Inox India

INOXINDIANSEMid Cap

Live₹1,557syncing…

Cryogenic equipment for industrial gases, LNG, chemicals and semicon-grade gas storage and transport.

Market Cap

₹14.1k cr

Price

1557

1Y 14%

Direct exposure

50/100

0–100 directness

Buy

Fundamental

72/ 100

B+

Quality of growth, returns, cash conversion and balance sheet

Technical (TQ-100)

84/ 100

Trend, momentum, volume and relative strength composite

Valuation

38/ 100

Higher = cheaper vs peers and own history

Final composite

67/ 100

Blended decision input

Data transparency

What's real, what's pending, on this page

Real financials loaded

✓ Real / verified

· Live price, day change, market cap — NSE direct
· 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
· Sector P/E — NSE direct
· Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
· Earnings call AI summaries — Trendlyne (where available)
· Technical (TQ-100) score — computed from real OHLCV
· Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)

⚠ Analyst-set (qualitative)

· Segment classification + semicon directness score — analyst seed
· Bull/bear case + monitorables (curated thesis) — analyst seed
· Governance risk score (seed) — being replaced by AI-agent assessment
· Synthesized 5Y forecast removed entirely (was inaccurate)

Real financials extracted for 42 of 45 companies. See /data-sources for full provenance.

Inox India · INOXINDIA

₹1,557+46.28% over 6M

Price50 DMA200 DMA

RSI (14)

Momentum oscillator · 6M view

Volume (60D)

Fundamental score (SageOne 100)

72/ 100B+

Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).

Base 76

Red flags -4

Growth quality/ 20

12.7

Rev 1Y 19.6% · 3Y CAGR 18.7%

Margin & profitability/ 15

11.1

EBITDA 20.1% · PAT 16.9%

Return on capital/ 20

20.0

ROCE 34% · ROE 33%

Cash flow quality/ 15

6.0

OCF/EBITDA 47% · FCF yield 0.7%

Leverage discipline/ 10

10.0

Net Debt/EBITDA -1.20x

Reinvestment runway/ 8

8.0

ROCE × retention proxy

Accounting quality/ 7

4.1

OCF conversion proxy

Governance/ 5

4.3

Pledge 0.0% · Risk 14/100

Red flags (1)

− Weak cash conversionOCF/EBITDA 47% < 50%-4

✓ Computed from real Trendlyne annuals (revenue, EBITDA, PAT, OCF, equity).

Technical score (TQ-100)

84/ 100A

Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.

Base 84

Trend structure/ 20

19.7

Above 200DMA · -4% from 52W high

Momentum velocity/ 15

13.5

RSI(14) 52 · 1M 2.0%

Volume dynamics/ 15

10.5

Bucket: Mid Cap

Relative strength/ 15

7.5

RS vs Nifty 0%

MA cluster/ 10

10.0

200DMA + 1Y trend confirmation

Mean-reversion runway/ 10

9.0

RSI(14) 52; ideal 50-60

Volatility profile/ 8

6.8

Bucket: Mid Cap

Pattern integrity/ 7

7.0

Trend continuation proxy

AI research agents

Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.

Segment classifier

Maps to value-chain segments + computes 0-100 directness

Seed: Power & Infrastructure · 50/100

Governance assessor

Forensic-accounting flags + 0-100 risk score

Seed: 14/100 risk

AI thesis

Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.

Curated thesis

Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take

Pristine cryogenic equipment franchise with semicon-grade gas storage exposure; high ROCE compounder.

Bull case

+ROCE >30%
+Net cash
+Direct semicon-gas storage exposure

Bear case

−Order lumpiness
−Valuation rich
−Cyclical capex

Key monitorables

Order book qualitySemicon-grade equipment winsMargin defense

Semiconductor exposure

How direct, how visible

Primary segment

Power & Infrastructure

All segments

Power & Infrastructure, Specialty Chemicals & Gases

Exposure type

Indirect / pull-through

Policy beneficiary

Yes

Import substitution

High

Governance risk score

14/100 (lower = better)

Financial snapshot

Latest reported metrics · mock data, ready for live financials

Rev growth (1Y)

19.6%

Rev CAGR (3Y)

18.7%

EBITDA margin

20.1%

PAT margin

16.9%

ROCE

34%

ROE

33%

OCF / EBITDA

47%

Net Debt / EBITDA

-1.2x

Promoter holding

75.0%

Promoter pledge

0.0%

Valuation

P/E (TTM)

55.2

Forward P/E

32.0

EV/EBITDA

52.8

EV/Sales

10.6

P/B

20.9

FCF Yield

0.7%

Dividend Yield

0.30%

Hist. percentile

70%

Peer percentile

70%

Technicals

RSI(14)

1M return

2.0%

1Y return

14%

From 52W high

-4%

RS vs Nifty

>200 DMA

Yes

Annual financials — real data

Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years

✓ Real

Line	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	₹1.5k cr	₹1.3k cr	₹1.1k cr	₹970 cr	₹799 cr	₹603 cr	₹656 cr
↳ YoY growth	+13.4%	+19.6%	+15.2%	+21.3%	+32.6%	-8.1%	—
EBITDA	₹325 cr	₹268 cr	₹225 cr	₹186 cr	₹150 cr	₹148 cr	₹155 cr
↳ EBITDA margin	21.5%	20.1%	20.1%	19.2%	18.8%	24.6%	23.6%
PAT	₹243 cr	₹225 cr	₹186 cr	₹156 cr	₹128 cr	₹97 cr	₹71 cr
↳ PAT margin	16.1%	16.9%	16.7%	16.1%	16.1%	16.1%	10.8%
OCF	₹106 cr	₹125 cr	₹169 cr	₹94 cr	₹229 cr	₹164 cr	₹60 cr
↳ OCF / EBITDA	32.7%	46.6%	75.1%	50.7%	152.1%	110.7%	38.4%
FCF (= OCF − capex)	₹-18 cr	₹96 cr	₹159 cr	₹25 cr	₹229 cr	₹162 cr	₹38 cr
Total Equity	₹901 cr	₹676 cr	₹585 cr	₹534 cr	₹408 cr	₹312 cr	₹242 cr
Total Assets	₹1.6k cr	₹1.2k cr	₹1.2k cr	₹920 cr	₹725 cr	₹654 cr	₹748 cr
↳ ROE	27.0%	33.3%	31.8%	29.3%	31.5%	31.2%	29.2%
↳ ROA	14.8%	18.5%	16.1%	17.0%	17.7%	14.9%	9.4%

Source: Trendlyne (Standalone where Consolidated unavailable). Last refresh on real-data ingest.

Promoter pledge & shareholding history

From Trendlyne · 9 quarters · synced Invalid Date

Pledge: 0.0%

Promoter

75.0%

Mutual Funds

6.0%

FII

7.1%

Public

10.1%

Promoter holding trend

75.0

Mar

75.0

Jun

75.0

Sep

75.0

Dec

75.0

Mar

75.0

Jun

75.0

Sep

75.0

Dec

75.0

Mar

Δ:+0.0% over 9 quarters

Commentary

·Promoter rock-stable at 75% (max permitted)
·No pledge

Management quality

Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.

Capital allocation

Sustained high return on capital indicates disciplined reinvestment.

ROCE 34%, div yield 0.3%

Promoter holding

Promoter has strong skin in the game.

75.0%

Promoter pledge

No pledging — cleanest signal.

0.0%

Debt discipline

Net cash balance sheet.

Net Debt/EBITDA -1.20x

Cash conversion

Weak cash conversion — investigate working capital and quality of earnings.

OCF/EBITDA 47%

Governance composite

Clean governance signals across pledging, RPTs, auditor, KMP pay.

14/100 risk

Variant perception

What the market is pricing in versus our read, and what would invalidate the thesis.

What the market is pricing in

Continued execution and policy tailwinds. The market has rewarded Inox India for delivery and is paying a premium for what comes next.

What we think it's missing

Consensus appears reasonable. Look for thesis-changing catalysts (margin inflection, new customer wins, segment mix shift) rather than narrative re-rating alone.

Thesis killers

×Working capital blowout disclosed in next quarterly result
×Multiple compression on a single weak earnings print

References

Wire to live data sources in production

NSE filings Screener BSE corporate filings Annual report (latest)Concall transcript (latest)Investor presentation