Nifty

:

26046.95

Sensex

:

85267.66

148.40 (0.57%)
449.53 (0.53%)

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Nifty
Sensex

:
:

26046.95
85267.66

148.40 (0.57%)
449.53 (0.53%)

Inox India Ltd.

Engineering - Industrial Equipments

Rating :

68/99

BSE: 544046 | NSE: INOXINDIA

Watchlist

NSE BSE

1141.00

12-Dec-2025

Open
High
Low
Previous Close

1141.3
1149.8
1126
1141.30

Volume
Traded Value (lacs)
52 Week High
52 Week Low

23415
26770067.2
1288
884.2

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

10,377.44
42.21
2

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

10,442.20
0.17%
10.59

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

14.99
-
10.58

EBITDA CAGR (%)

10 Years
5 Years
3 Years

18.99
-
6.86

PAT CAGR (%)

10 Years
5 Years
3 Years

-
-
13.46

P:E (Median)

8 Years
5 Years
3 Years

-
-
-

P:BV (Average)

8 Years
5 Years
3 Years

-
-
-

EV:EBITDA (Average)

8 Years
5 Years
3 Years

-
-
-

Earnings Forecasts:

(Updated: 06-12-2025)

Description 2024 2025 2026 2027
Adj EPS 24.9 28.6 34.76 40.56
P/E Ratio 45.82 39.90 32.83 28.13
Revenue 1306 1537.03 1928.42 2285.08
EBITDA 288.73 338.32 406.3 473.27
Net Income 226.03 260.28 314.56 368.75
ROA 15.84 15 14.6 14.3
P/B Ratio 11.85 9.38 7.51 6.14
ROE 29.69 25.82 24.91 24.29
FCFF -10.04 69.5 89.75 145.7
FCFF Yield -0.1 0.68 0.88 1.43
Net Debt -247.29
BVPS 96.26 121.67 151.93 185.9

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Sep 25 Sep 24 Var% Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var%
Net Sales 355.56 303.53 17.14% 327.39 291.62 12.27% 369.14 269.72 36.86% 332.01 275.13 20.67%
Expenses 280.12 239.13 17.14% 252.09 221.70 13.71% 287.23 217.83 31.86% 262.26 214.62 22.20%
EBITDA 75.45 64.40 17.16% 75.30 69.91 7.71% 81.92 51.88 57.90% 69.75 60.51 15.27%
EBIDTM 21.22% 21.22% 23.00% 23.97% 22.19% 19.24% 21.01% 21.99%
Other Income 10.30 12.53 -17.80% 12.47 5.79 115.37% 12.13 11.90 1.93% 8.63 4.57 88.84%
Interest 1.90 2.76 -31.16% 0.63 1.88 -66.49% 1.24 2.29 -45.85% 2.26 1.39 62.59%
Depreciation 7.52 5.63 33.57% 7.19 5.32 35.15% 6.79 5.08 33.66% 6.01 4.64 29.53%
PBT 78.33 68.53 14.30% 79.95 68.50 16.72% 86.02 56.41 52.49% 77.28 59.05 30.87%
Tax 19.72 19.11 3.19% 19.55 15.29 27.86% 20.88 13.46 55.13% 19.97 14.10 41.63%
PAT 58.61 49.43 18.57% 60.40 53.21 13.51% 65.13 42.95 51.64% 57.31 44.95 27.50%
PATM 16.48% 16.28% 18.45% 18.25% 17.64% 15.92% 17.26% 16.34%
EPS 6.46 5.44 18.75% 6.65 5.86 13.48% 7.17 4.73 51.59% 6.31 4.95 27.47%

Description Sep 25 Sep 24 Var% Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var%
Net Sales 358.22 306.56 16.85% 339.62 296.41 14.58% 369.40 276.51 33.59% 333.63 290.69 14.77%
Expenses 280.26 242.66 15.49% 263.49 226.21 16.48% 287.74 223.28 28.87% 264.42 224.00 18.04%
EBITDA 77.96 63.90 22.00% 76.14 70.20 8.46% 81.66 53.23 53.41% 69.21 66.70 3.76%
EBIDTM 21.76% 20.85% 22.42% 23.68% 22.11% 19.25% 20.75% 22.94%
Other Income 10.85 13.44 -19.27% 12.67 5.37 135.94% 13.14 11.19 17.43% 8.43 4.73 78.22%
Interest 2.00 2.83 -29.33% 0.73 2.04 -64.22% 1.17 1.53 -23.53% 2.50 2.29 9.17%
Depreciation 7.62 5.92 28.72% 7.57 5.61 34.94% 7.14 5.17 38.10% 6.40 5.24 22.14%
PBT 81.19 68.60 18.35% 80.51 67.92 18.54% 86.48 57.72 49.83% 75.91 63.89 18.81%
Tax 20.35 19.11 6.49% 19.39 15.29 26.81% 20.97 13.64 53.74% 17.53 15.30 14.58%
PAT 60.84 49.49 22.93% 61.12 52.64 16.11% 65.51 44.08 48.62% 58.39 48.59 20.17%
PATM 16.98% 16.14% 18.00% 17.76% 17.74% 15.94% 17.50% 16.71%
EPS 6.70 5.45 22.94% 6.73 5.80 16.03% 7.22 4.86 48.56% 6.43 5.35 20.19%

Annual Results

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 16 Mar 15 Mar 14 Mar 13 Mar 12 Mar 11
Net Sales 1,384.10 1,296.30 1,087.11 949.57 776.61 320.58 318.96 308.78 371.47 301.17 242.70 Net Sales Growth 21.41% 19.24% 14.48% 22.27% 142.25% 0.51% 3.30% -16.88% 23.34% 24.09% Cost Of Goods Sold 583.60 573.94 482.98 422.69 336.19 147.49 148.95 133.00 184.97 149.09 112.85 Gross Profit 800.50 722.36 604.13 526.87 440.43 173.09 170.01 175.78 186.49 152.08 129.86 GP Margin 57.84% 55.72% 55.57% 55.49% 56.71% 53.99% 53.30% 56.93% 50.20% 50.50% 53.51% Total Expenditure 1,081.70 1,010.33 851.10 744.64 611.54 270.31 285.81 268.01 290.49 235.63 176.51 Power & Fuel Cost - 11.92 11.50 9.39 8.53 4.62 5.09 4.83 5.37 4.07 3.04 % Of Sales - 0.92% 1.06% 0.99% 1.10% 1.44% 1.60% 1.56% 1.45% 1.35% 1.25% Employee Cost - 104.99 96.54 74.85 71.52 34.20 31.43 30.94 26.04 21.02 16.64 % Of Sales - 8.10% 8.88% 7.88% 9.21% 10.67% 9.85% 10.02% 7.01% 6.98% 6.86% Manufacturing Exp. - 184.46 138.95 133.98 117.97 46.96 53.13 59.86 30.99 27.99 19.04 % Of Sales - 14.23% 12.78% 14.11% 15.19% 14.65% 16.66% 19.39% 8.34% 9.29% 7.85% General & Admin Exp. - 51.83 41.06 34.49 22.34 15.01 17.54 16.94 13.16 11.39 10.28 % Of Sales - 4.00% 3.78% 3.63% 2.88% 4.68% 5.50% 5.49% 3.54% 3.78% 4.24% Selling & Distn. Exp. - 66.04 63.42 56.53 46.68 17.29 21.56 13.16 26.75 19.38 12.19 % Of Sales - 5.09% 5.83% 5.95% 6.01% 5.39% 6.76% 4.26% 7.20% 6.43% 5.02% Miscellaneous Exp. - 17.14 16.64 12.71 8.31 4.74 8.11 9.30 3.20 2.70 12.19 % Of Sales - 1.32% 1.53% 1.34% 1.07% 1.48% 2.54% 3.01% 0.86% 0.90% 1.02% EBITDA 302.42 285.97 236.01 204.93 165.07 50.27 33.15 40.77 80.98 65.54 66.19 EBITDA Margin 21.85% 22.06% 21.71% 21.58% 21.26% 15.68% 10.39% 13.20% 21.80% 21.76% 27.27% Other Income 43.53 39.08 31.90 19.96 20.80 9.97 18.30 15.04 9.68 3.87 2.55 Interest 6.03 8.14 5.37 3.36 1.73 20.24 17.29 13.96 18.29 19.51 4.50 Depreciation 27.51 23.76 16.92 13.10 11.48 10.21 9.62 8.02 6.84 5.52 4.61 PBT 321.58 293.16 245.63 208.42 172.66 29.79 24.54 33.83 65.54 44.38 59.63 Tax 80.12 75.25 59.50 52.19 44.34 7.69 8.75 13.38 21.02 12.01 15.43 Tax Rate 24.91% 25.06% 24.22% 25.04% 25.68% -16.03% 35.66% 39.55% 32.07% 27.06% 25.88% PAT 241.45 225.08 186.13 156.23 128.32 -55.68 15.79 20.45 44.51 32.37 44.20 PAT before Minority Interest 241.45 225.08 186.13 156.23 128.32 -55.68 15.79 20.45 44.51 32.37 44.20 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 17.44% 17.36% 17.12% 16.45% 16.52% -17.37% 4.95% 6.62% 11.98% 10.75% 18.21% PAT Growth 26.72% 20.93% 19.14% 21.75% - - -22.79% -54.06% 37.50% -26.76% EPS 26.59 24.79 20.50 17.21 14.13 -6.13 1.74 2.25 4.90 3.56 4.87

Description TTM Mar 25 Mar 24 Mar 23 Mar 22
Net Sales 1,400.87 1,306.00 1,133.34 965.90 782.71 Net Sales Growth 19.72% 15.23% 17.34% 23.40% Cost Of Goods Sold 590.63 577.50 503.77 432.71 337.70 Gross Profit 810.24 728.50 629.58 533.19 445.00 GP Margin 57.84% 55.78% 55.55% 55.20% 56.85% Total Expenditure 1,095.91 1,021.31 883.07 761.54 615.08 Power & Fuel Cost - 12.10 11.74 9.58 8.74 % Of Sales - 0.93% 1.04% 0.99% 1.12% Employee Cost - 110.05 101.70 78.68 73.45 % Of Sales - 8.43% 8.97% 8.15% 9.38% Manufacturing Exp. - 184.78 139.45 134.25 125.39 % Of Sales - 14.15% 12.30% 13.90% 16.02% General & Admin Exp. - 60.31 50.57 38.36 21.86 % Of Sales - 4.62% 4.46% 3.97% 2.79% Selling & Distn. Exp. - 58.49 57.73 54.45 39.64 % Of Sales - 4.48% 5.09% 5.64% 5.06% Miscellaneous Exp. - 18.08 18.12 13.50 8.29 % Of Sales - 1.38% 1.60% 1.40% 1.06% EBITDA 304.97 284.69 250.27 204.36 167.63 EBITDA Margin 21.77% 21.80% 22.08% 21.16% 21.42% Other Income 45.09 40.67 31.31 20.18 21.00 Interest 6.40 8.54 5.67 3.68 2.32 Depreciation 28.73 25.06 18.14 13.92 12.10 PBT 324.09 291.75 257.78 206.94 174.21 Tax 78.24 72.90 61.77 52.20 43.71 Tax Rate 24.14% 24.39% 23.96% 25.22% 25.09% PAT 245.86 226.03 196.00 154.74 130.50 PAT before Minority Interest 245.86 226.03 196.00 154.74 130.50 Minority Interest 0.00 0.00 0.00 0.00 0.00 PAT Margin 17.55% 17.31% 17.29% 16.02% 16.67% PAT Growth 26.21% 15.32% 26.66% 18.57% EPS 27.08 24.89 21.59 17.04 14.37

Results Balance Sheet

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 14 Mar 13 Mar 12 Mar 11 Mar 10 Mar 09
Shareholder's Funds 900.88 675.90 585.43 533.77 343.53 423.91 188.70 174.17 137.19 94.68 Share Capital 18.15 18.15 18.15 18.15 9.91 10.75 9.08 9.08 9.08 9.08 Total Reserves 876.70 652.35 567.27 515.61 333.62 413.15 179.63 165.09 128.12 85.60 Non-Current Liabilities 27.75 28.91 25.42 18.69 59.36 93.33 101.65 85.74 126.81 45.59 Secured Loans 0.00 0.00 0.00 0.00 43.30 82.57 92.81 77.05 118.97 24.81 Unsecured Loans 0.00 0.00 0.00 0.00 3.00 0.00 0.00 0.00 0.00 14.00 Long Term Provisions 8.01 6.86 4.52 4.14 1.48 0.88 0.52 0.34 0.00 0.00 Current Liabilities 715.13 538.96 542.84 367.98 276.44 179.36 155.77 79.14 36.85 38.03 Trade Payables 134.19 127.00 60.27 39.77 33.17 18.28 22.32 15.89 19.09 17.84 Other Current Liabilities 486.45 344.26 447.32 255.93 92.26 64.47 69.74 51.69 15.91 18.54 Short Term Borrowings 33.10 4.87 0.00 43.38 139.85 89.08 55.86 9.12 0.00 0.00 Short Term Provisions 61.39 62.82 35.25 28.91 11.16 7.53 7.85 2.44 1.85 1.65 Total Liabilities 1,643.76 1,243.77 1,153.69 920.44 679.33 696.60 446.12 339.05 300.85 178.30 Net Block 355.20 251.18 160.82 130.01 99.98 102.30 82.05 63.54 57.39 53.42 Gross Block 468.02 341.63 232.63 189.71 143.12 138.70 111.68 88.52 78.58 71.25 Accumulated Depreciation 112.82 90.44 71.82 59.70 43.14 36.40 29.63 24.98 21.19 17.83 Non Current Assets 421.62 318.70 217.90 186.40 307.15 344.04 247.63 198.11 177.91 53.65 Capital Work in Progress 4.19 4.76 0.22 1.86 0.00 2.27 1.01 0.23 0.77 0.17 Non Current Investment 44.58 44.60 44.62 44.66 163.19 211.12 149.12 119.70 119.75 0.06 Long Term Loans & Adv. 13.39 14.04 12.06 9.62 37.44 28.35 15.45 14.64 0.00 0.00 Other Non Current Assets 4.26 4.11 0.18 0.26 6.55 0.00 0.00 0.00 0.00 0.00 Current Assets 1,222.15 925.07 935.79 734.04 372.18 352.56 198.49 140.94 122.91 124.59 Current Investments 267.00 246.51 248.72 311.48 84.00 0.00 0.00 0.05 0.00 0.00 Inventories 471.18 428.70 407.28 318.13 113.30 116.57 110.90 63.05 50.50 75.33 Sundry Debtors 255.18 172.69 129.85 77.77 74.94 106.27 78.17 71.21 40.92 21.42 Cash & Bank 5.76 4.77 54.78 8.04 80.59 118.07 0.38 0.18 6.76 0.76 Other Current Assets 223.03 6.96 6.01 2.57 19.34 11.67 9.04 6.45 24.72 27.08 Short Term Loans & Adv. 216.19 65.44 89.14 16.04 16.15 8.53 8.17 5.77 23.98 26.61 Net Current Assets 507.01 386.11 392.95 366.05 95.73 173.20 42.72 61.80 86.05 86.57 Total Assets 1,643.77 1,243.77 1,153.69 920.44 679.33 696.60 446.12 339.05 300.86 178.30

Description Mar 25 Mar 24 Mar 23 Mar 22
Shareholder's Funds 873.69 649.07 549.48 502.28 Share Capital 18.15 18.15 18.15 18.15 Total Reserves 849.51 625.52 531.33 484.13 Non-Current Liabilities 27.30 31.34 27.89 21.54 Secured Loans 0.00 0.00 0.00 0.00 Unsecured Loans 0.00 0.00 0.00 0.00 Long Term Provisions 8.01 6.86 4.52 4.14 Current Liabilities 752.61 542.70 570.44 372.93 Trade Payables 138.25 124.19 61.52 40.05 Other Current Liabilities 519.41 349.72 473.67 260.73 Short Term Borrowings 33.10 4.87 0.00 43.38 Short Term Provisions 61.85 63.92 35.25 28.77 Total Liabilities 1,653.60 1,223.11 1,147.81 896.75 Net Block 359.35 255.47 164.48 133.74 Gross Block 469.93 343.30 240.69 196.90 Accumulated Depreciation 110.58 87.82 76.20 63.16 Non Current Assets 379.02 276.29 174.89 143.64 Capital Work in Progress 4.19 4.76 0.22 1.86 Non Current Investment 0.17 0.19 0.21 0.24 Long Term Loans & Adv. 11.04 11.75 9.80 7.53 Other Non Current Assets 4.26 4.11 0.18 0.26 Current Assets 1,264.98 936.02 962.43 742.84 Current Investments 267.00 246.51 248.72 311.49 Inventories 492.99 433.84 412.77 322.52 Sundry Debtors 251.64 173.87 142.90 78.11 Cash & Bank 23.53 9.22 61.67 8.82 Other Current Assets 229.82 6.27 6.89 4.45 Short Term Loans & Adv. 222.86 66.31 89.46 17.46 Net Current Assets 512.37 393.32 391.99 369.91 Total Assets 1,644.00 1,212.31 1,137.32 886.48

Cash Flow

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 14 Mar 13 Mar 12 Mar 11 Mar 10 Mar 09
Cash From Operating Activity 106.23 121.61 169.21 94.32 91.04 -3.89 6.39 23.00 57.84 -2.26 PBT 300.33 245.63 208.42 172.66 33.83 65.54 44.38 59.63 60.98 43.54 Adjustment 10.19 2.90 -0.30 -3.02 13.95 6.82 5.69 3.06 4.33 6.57 Changes in Working Capital -141.00 -65.59 14.49 -51.99 54.93 -58.48 -39.71 -30.07 6.53 -39.64 Cash after chg. in Working capital 169.52 182.94 222.62 117.66 102.71 13.87 10.35 32.62 71.85 10.47 Interest Paid 0.00 0.00 0.00 0.00 0.00 10.89 9.08 6.08 0.00 0.00 Tax Paid -63.29 -61.33 -53.41 -23.34 -11.67 -19.46 -12.03 -14.93 -14.01 -12.73 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 -9.19 -1.01 -0.78 0.00 0.00 Cash From Investing Activity -123.69 -26.02 -9.87 -69.51 18.13 -81.13 -53.35 -7.88 -125.33 -5.80 Net Fixed Assets -125.82 -113.54 -41.28 -48.45 -2.15 -28.28 -23.94 -9.40 -7.93 -50.53 Net Investments -20.47 2.23 62.80 -108.95 -36.07 -62.00 -29.37 0.00 -119.69 0.01 Others 22.60 85.29 -31.39 87.89 56.35 9.15 -0.04 1.52 2.29 44.72 Cash from Financing Activity 18.52 -101.87 -152.97 -24.99 -95.52 202.72 47.14 -21.69 73.50 8.77 Net Cash Inflow / Outflow 1.06 -6.29 6.37 -0.19 13.65 117.69 0.19 -6.58 6.00 0.70 Opening Cash & Equivalents 0.50 6.79 0.41 0.59 3.27 0.38 0.18 6.76 0.76 0.06 Closing Cash & Equivalent 1.56 0.50 6.78 0.40 16.91 118.07 0.38 0.18 6.76 0.76

Description Mar 25 Mar 24 Mar 23 Mar 22
Cash From Operating Activity 121.97 122.44 176.66 97.04 PBT 298.92 257.78 206.94 174.21 Adjustment 11.03 5.54 1.51 -2.58 Changes in Working Capital -124.78 -77.41 21.62 -50.89 Cash after chg. in Working capital 185.17 185.90 230.07 120.74 Interest Paid 0.00 0.00 0.00 0.00 Tax Paid -63.20 -63.47 -53.41 -23.71 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 Cash From Investing Activity -139.21 -24.93 -12.09 -74.56 Net Fixed Assets -125.82 -113.54 -41.28 Net Investments -20.47 2.23 62.80 Others 7.08 86.38 -33.61 Cash from Financing Activity 17.15 -103.02 -153.62 -26.13 Net Cash Inflow / Outflow -0.08 -5.51 10.95 -3.66 Opening Cash & Equivalents 4.95 11.21 1.19 2.25 Closing Cash & Equivalent 3.51 4.95 11.19 1.18

Financial Ratios

Standalone /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 14 Mar 13 Mar 12 Mar 11 Mar 10 Mar 09
Book Value (Rs.) 98.59 73.87 64.50 58.81 377.57 394.22 207.91 191.89 151.11 104.25 ROA 15.59% 15.53% 15.07% 15.64% 2.97% 7.79% 8.25% 13.82% 19.16% 18.42% ROE 28.76% 29.64% 27.92% 27.26% 5.34% 14.53% 17.84% 28.40% 39.61% 36.80% ROCE 38.21% 39.65% 36.43% 33.37% 8.47% 16.82% 19.57% 23.71% 33.19% 41.72% Fixed Asset Turnover 3.20 3.79 4.50 4.62 2.23 3.12 3.16 3.06 3.37 3.70 Receivable days 60.24 50.79 39.90 44.52 105.32 86.18 86.12 80.13 45.10 29.31 Inventory Days 126.69 140.34 139.42 109.00 133.60 106.28 100.28 81.14 91.03 105.13 Payable days 83.05 70.76 43.19 31.38 38.51 26.01 30.36 37.37 37.33 39.76 Cash Conversion Cycle 103.87 120.37 136.13 122.14 200.42 166.45 156.04 123.90 98.79 94.68 Total Debt/Equity 0.04 0.01 0.00 0.08 0.68 0.48 0.95 0.63 0.87 0.41 Interest Cover 37.89 46.77 63.00 100.72 2.97 4.58 3.27 14.26 17.67 13.77

Description Mar 25 Mar 24 Mar 23 Mar 22
Book Value (Rs.) 95.60 70.92 60.54 55.34 ROA 15.71% 16.53% 15.14% 16.48% ROE 29.91% 32.85% 29.42% 29.85% ROCE 39.40% 43.78% 38.46% 36.10% Fixed Asset Turnover 3.21 3.88 4.41 4.48 Receivable days 59.46 51.01 41.76 44.50 Inventory Days 129.52 136.33 138.93 109.20 Payable days 82.94 67.28 42.84 31.06 Cash Conversion Cycle 106.04 120.06 137.85 122.64 Total Debt/Equity 0.04 0.01 0.00 0.09 Interest Cover 35.98 46.46 57.16 75.96

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Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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