Inox India Ltd

- As of Q3 FY '26, INOX India Limited had total fund availability of INR 160 crores. - This provides ample headroom to support future capacity expansion, ongoing project execution, and other strategic initiatives. - There is no specific mention of any current or planned new fundraising through debt or equity in the call. - The company is focusing on utilizing existing funds to meet growth and expansion requirements. - No announcements or indications about fresh debt or equity issuance were made during the discussion.

- INOX India is planning future expansions, including facility visits by key clients like the U.S. aerospace company to assess capacity for large vessels (Bahamas vessels of 1,500 cubic meters under progress). - The company has acquired land at Kandla and Savli for capacity expansions, with timelines of around 6 to 8 months for building infrastructure and 3 to 4 months for operational streamlining — approximately one year for full capacity expansion. - There is ongoing development of new products and technologies, such as the ultra-high purity ammonia equipment for solar module manufacturing and cooling systems for data centers (prototype expected within 6-8 months). - They are enhancing capacity for LNG fuel tanks via serial production lines. - INOX is engaging in multiple large-scale projects with aerospace, space (ISRO and start-ups), and other strategic sectors, indicating continuous strategic investment in product and capacity development.

- Expecting 18%-20% growth in sales/revenue for FY '27, continuing the trend from FY '26. - Potential for 2x to 5x growth in revenue from a major U.S. aerospace client over the next 1-2 years. - Order book execution timelines range from 3-4 months for standard projects to 12-18 months for large projects. - Disposable cylinders expected to cross previous year’s volume, targeting over 2 million units this year. - Keg division aims to ramp up to 80,000-100,000 units by March-end from 36,000 in 9 months. - LNG segment growth is robust; expected to exceed FY '25 revenue within 9 months of current year. - Export revenue growth strong, with 63% of order backlog from exports; good margin improvement anticipated from currency fluctuations. - Capacity expansions planned within 6-8 months to meet increasing demand.

- INOX India targets 18%-20% growth in revenue for FY '27. - The company expects to meet planned targets of around INR 1,700 crores for FY '26. - Margin expansion and robust volume growth support a positive EPS trajectory. - Slight margin improvements anticipated due to favorable foreign exchange movements. - Order backlog of INR 1,457 crores provides strong revenue visibility. - Execution timelines span from 3-4 months for standard projects to 18 months for large projects. - Continuous order inflow growth expected, with potential for consistent quarterly inflows above INR 450 crores. - Capacity utilization to ramp up with expansion plans expected within a year. - Opportunities in aerospace, LNG, semiconductor, and industrial gases markets to drive long-term earnings growth. - Export revenue growth likely to sustain enhanced operating margins by 2-3% over domestic margins.

- As of December 31, 2025, the order backlog stood at INR 1,457 crores, providing strong revenue visibility. - Approximately 63% of the order backlog is from exports, and 37% from the domestic market. - Q3 FY '26 order inflow was around INR 392 crores. - The company aims to maintain consistent quarterly order inflows above INR 450 crores going forward. - For Q4, there is an order book of around 100,000 units of kegs and sales expected around 60,000 to 70,000 units. - Execution timelines vary: standard projects take 3-4 months, complex ones around 8 months, and large projects up to 12-18 months. - The company is optimistic about new large orders expected in Q4 and early next year, which could boost order inflows further.