Inox India Ltd

- As of FY24, Inox India Limited has almost nil total debt, providing adequate room to raise debt in the future. - The company ended FY24 with a comfortable net cash position of ₹253 crore after incurring capex of over ₹100 crore. - The planned capex for the next year is around ₹100 crore, which will be funded through internal accruals. - There is no mention of any current or upcoming fundraising through equity in the call. - Given the strong balance sheet and internal accrual funding, no immediate plans for debt or equity fundraising were indicated.

- Capex plan for FY25 is around Rs. 100 crores. - Major investment of about Rs. 80 crores is underway to expand additional sheds at the new Savli plant for stainless-steel container manufacturing. - Remaining Rs. 20-25 crores is allocated for maintenance and other plant-related CAPEX. - All these capital expenditures will be funded through internal accruals. - The Savli plant has recently started production, expected to contribute Rs. 100 crores in revenue this year. - The company is also augmenting resources in design engineering and project management for large engineering system projects in Industrial Gas (IG) and LNG businesses. - Strategic MoUs signed (e.g., with Adani Total Gas) to strengthen LNG and hydrogen infrastructure, indicating a focus on long-term growth in clean energy segments.

- The company aims to maintain mid-to-high-teens percentage revenue growth in FY25 and beyond. - New products like disposable cylinders and stainless-steel containers (Savli plant) have short lead times, enabling quick ramp-up. - صادرات (exports) are expected to grow fast due to expanded sales presence in Europe, Latin America, and Brazil. - LNG and Cryo Scientific divisions are growing strongly, contributing to overall growth. - Hydrogen segment is viewed as a future growth area, though the timeline is gradual (3-5 years for significant scale). - Order backlog stood robust at ₹1,087 crore with diversified orders across Industrial Gas, LNG, and Cryo Scientific divisions. - The company is optimistic about public sector investment in LNG and green hydrogen infrastructure, fueling demand. - Strategic MoU with Adani for LNG fueling stations is expected to drive incremental revenues. - Expected to generate approx. ₹100 crore revenue from the new Savli plant in FY25.

- INOX India aims to sustain a revenue growth run rate of approximately 21% to 24% annually, similar to the past three years. - EBITDA margins are expected to remain stable in the range of 21% to 25%, supported by high technology product offerings. - PAT margin improved to 16.9% in FY24, with expectations for continued strong profit growth driven by expanding export markets and new product lines. - The company foresees growth from new initiatives in hydrogen, LNG, and Cryo Scientific divisions, with significant potential in export markets. - Savli plant is expected to contribute around Rs. 100 crore in revenue in the coming year, supporting overall growth. - Expansion in international sales networks (Germany, Switzerland, Poland, Netherlands, Brazil) is expected to accelerate export order growth. - Growth drivers include industrial gas, LNG fueling stations, hydrogen fuel infrastructure, and new high-value projects taking 18-24 months to complete.

- Order backlog as of March 31, 2024, stands at Rs. 1,087 crore. - Order composition: 55% Industrial Gas, 20% LNG, and 25% Cryo Scientific division. - Export orders comprise 52% of the total order backlog. - Order inflow for FY24 was Rs. 1,193 crore, a 14% YoY increase. - The company expects continued growth in LNG and Cryo Scientific orders, with strong opportunities in hydrogen and new product lines. - Lead times for new stainless steel containers and disposable cylinders are short (4-6 weeks), enabling potentially higher sales within the fiscal year. - The company anticipates the order book to grow further, fueled by public sector investments and growing LNG demand. - Despite a slight dip in LNG orders in Q4 FY24, large-scale projects are expected to complete in Q1 or Q2 FY25.