Inox India Ltd (INOXINDIA) — share price & stock analysis
Profits are up 32% in two years, the price has kept pace — no more, no less, leaving little room for error.
Inox India Ltd (INOXINDIA) trades at ₹1,905 as of 1 July 2026, up 52% over the past year — beating NIFTY 500 for 24 weeks. The machine reads this as steady growth, never traded cheap: profits are up 32% in two years, the price has kept pace — no more, no less, leaving little room for error. It trades at a P/E of 66.5× (the 86th percentile of its own range); the price is in Stage 2 — advancing, 13 weeks in; the business cycle reads CYCLICAL / EXPANSION. Fundamentals-momentum score: 71/100 (mostly improving).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹17,290 Cr
- P/E
- 66.5×
- ROE
- 26.1%
- vs own history (since 2024)
- 86th pctile
- Book value / share
- ₹123
- EPS (TTM)
- ₹28.7
- 10-yr median P/E
- 50.8×
- Revenue (FY26)
- ₹1,587 Cr
- Profit after tax (FY26)
- ₹258 Cr
- Weinstein stage
- Stage 2 (13 weeks)
- Data as of
- 1 July 2026
Profits breathe with a cycle here — profit drawdowns of ~50% along the way. Swings like that are normal for this business, not news.net_profit
Where the clock stands now: earnings sit at 100% of their historical range, margins are mid-band, and the market pays the expensive end of its range (86th percentile). That reads as EXPANSION — the comfortable middle — the easy money off the bottom is made; from here the story has to keep delivering.net_profit
4 of the 6 things we track are currently moving the right way — most of the dashboard is turning up.
Where the levels actually stand: ROCE 33% — a high-quality engine; effectively no debt; margins mid-band. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).
What the earnings deliver, the price follows
Since Feb 2024, the stock is up 62% and earnings per share are up 70% — the price has tracked the profits, not run ahead of them.pricettm_eps
The market is paying for delivery, not promises. What you see in earnings is what you get in the price.
Today’s P/E of 66.5× means the market is paying up — this is the expensive end of its own history since 2024 (86th percentile).pe_ratio
A caveat on every valuation comparison here: the stock has only traded since 2024, and in that time its P/E has ranged 41–84× — it has never been cheap. “Middle of its range” means the middle of an expensive range.pe_ratio
Data: Price, EPS and valuation (sampled — full series in the embedded dataset)
| Period | Price (₹) | EPS (TTM) (₹) | P/E (×) |
|---|---|---|---|
| Feb 24 | 1,016 | – | 60.2 |
| Mar 24 | 1,270 | 16.9 | 75.3 |
| Mar 24 | 1,152 | 16.9 | 68.3 |
| Apr 24 | 1,357 | 16.9 | 80.5 |
| May 24 | 1,391 | 16.9 | 82.5 |
| May 24 | 1,264 | 21.6 | 58.5 |
| Jun 24 | 1,335 | 21.6 | 61.8 |
| Jul 24 | 1,442 | 21.6 | 66.8 |
| Jul 24 | 1,282 | 21.6 | 59.3 |
| Aug 24 | 1,189 | 21.1 | 56.3 |
| Sep 24 | 1,183 | 21.1 | 56.0 |
| Sep 24 | 1,166 | 21.1 | 55.2 |
| Oct 24 | 1,147 | 21.1 | 54.3 |
| Nov 24 | 1,183 | 21.5 | 55.1 |
| Nov 24 | 1,136 | 21.5 | 52.9 |
| Dec 24 | 1,092 | 21.5 | 50.9 |
| Jan 25 | 1,083 | 21.4 | 50.5 |
| Feb 25 | 917 | 21.5 | 42.7 |
| Feb 25 | 916 | 21.9 | 41.8 |
| Mar 25 | 980 | 21.9 | 44.7 |
| Apr 25 | 980 | 21.9 | 44.7 |
| Apr 25 | 1,015 | 21.9 | 46.3 |
| May 25 | 1,161 | 24.3 | 47.8 |
| Jun 25 | 1,220 | 24.3 | 50.2 |
| Jun 25 | 1,244 | 24.3 | 51.2 |
| Jul 25 | 1,235 | 24.3 | 50.8 |
| Aug 25 | 1,141 | 25.3 | 45.2 |
| Aug 25 | 1,119 | 25.3 | 44.3 |
| Sep 25 | 1,233 | 25.2 | 48.9 |
| Oct 25 | 1,196 | 25.2 | 47.4 |
| Oct 25 | 1,187 | 25.3 | 47.0 |
| Nov 25 | 1,150 | 26.3 | 43.7 |
| Dec 25 | 1,141 | 26.3 | 43.4 |
| Jan 26 | 1,131 | 26.3 | 43.0 |
| Jan 26 | 1,095 | 26.3 | 41.6 |
| Feb 26 | 1,169 | 27.9 | 42.0 |
| Mar 26 | 1,181 | 27.8 | 42.4 |
| Mar 26 | 1,199 | 27.9 | 43.0 |
| Apr 26 | 1,305 | 27.9 | 46.8 |
| Apr 26 | 1,475 | 27.9 | 52.9 |
| May 26 | 1,433 | 28.7 | 50.0 |
| Jun 26 | 1,505 | 28.7 | 52.5 |
| Jun 26 | 1,892 | 28.7 | 66.0 |
| Jun 26 | 1,918 | 28.7 | 66.9 |
| Jul 26 | 1,905 | 28.7 | 66.5 |
Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (50.8×).
Stage 2: the trend is up, and has been for 13 weeks
STAGE 2 · ADVANCING · 13 WEEKSPrice trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 13 weeks so far, confirmed.stage
The price sits above its rising 200-day average (₹1,353 today) and its strength against the index is still improving — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
Beating NIFTY 500 for 24 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Dec 23 | 911 | 940 | 939 | 4 |
| Jan 24 | 878 | 932 | 915 | 4 |
| Feb 24 | 907 | 924 | 896 | 4 |
| Feb 24 | 1,277 | 946 | 983 | 4 |
| Mar 24 | 1,157 | 980 | 1,074 | 2 |
| Apr 24 | 1,422 | 1,009 | 1,136 | 2 |
| Apr 24 | 1,370 | 1,051 | 1,226 | 2 |
| May 24 | 1,353 | 1,090 | 1,274 | 2 |
| Jun 24 | 1,259 | 1,113 | 1,267 | 2 |
| Jun 24 | 1,316 | 1,140 | 1,290 | 2 |
| Jul 24 | 1,265 | 1,170 | 1,321 | 2 |
| Aug 24 | 1,207 | 1,185 | 1,299 | 2 |
| Aug 24 | 1,176 | 1,185 | 1,251 | 2 |
| Sep 24 | 1,094 | 1,182 | 1,211 | 2 |
| Oct 24 | 1,176 | 1,178 | 1,185 | 3 |
| Nov 24 | 1,147 | 1,171 | 1,157 | 4 |
| Nov 24 | 1,119 | 1,169 | 1,158 | 4 |
| Dec 24 | 1,166 | 1,168 | 1,160 | 4 |
| Jan 25 | 1,103 | 1,161 | 1,141 | 4 |
| Jan 25 | 959 | 1,144 | 1,091 | 4 |
| Feb 25 | 903 | 1,113 | 1,017 | 4 |
| Mar 25 | 1,001 | 1,090 | 986 | 4 |
| Mar 25 | 1,001 | 1,079 | 996 | 4 |
| Apr 25 | 1,017 | 1,071 | 997 | 4 |
| May 25 | 979 | 1,062 | 999 | 4 |
| May 25 | 1,194 | 1,076 | 1,074 | 4 |
| Jun 25 | 1,183 | 1,093 | 1,130 | 4 |
| Jul 25 | 1,233 | 1,112 | 1,177 | 2 |
| Aug 25 | 1,140 | 1,126 | 1,190 | 2 |
| Aug 25 | 1,152 | 1,125 | 1,160 | 2 |
| Sep 25 | 1,170 | 1,130 | 1,161 | 2 |
| Oct 25 | 1,215 | 1,140 | 1,180 | 2 |
| Oct 25 | 1,201 | 1,147 | 1,185 | 2 |
| Nov 25 | 1,201 | 1,154 | 1,191 | 2 |
| Dec 25 | 1,138 | 1,156 | 1,180 | 2 |
| Dec 25 | 1,089 | 1,152 | 1,158 | 2 |
| Jan 26 | 1,120 | 1,149 | 1,144 | 3 |
| Feb 26 | 1,119 | 1,144 | 1,129 | 4 |
| Feb 26 | 1,163 | 1,145 | 1,140 | 4 |
| Mar 26 | 1,181 | 1,148 | 1,152 | 1 |
| Apr 26 | 1,305 | 1,157 | 1,180 | 1 |
| Apr 26 | 1,457 | 1,198 | 1,309 | 2 |
| May 26 | 1,448 | 1,235 | 1,376 | 2 |
| Jun 26 | 1,579 | 1,257 | 1,411 | 2 |
| Jun 26 | 1,808 | 1,282 | 1,478 | 2 |
| Jun 26 | 1,988 | 1,330 | 1,598 | 2 |
| Jul 26 | 1,905 | 1,353 | 1,643 | 2 |
Profits have grown in 5 of the last 7 years — compounding so far, on a short record
Over 7 years, sales went from ₹650 Cr to ₹1,587 Cr (about 14% a year), and profit from ₹193 Cr to ₹258 Cr.revenuenet_profit
Margins held steady throughout (20.5–22.7%) — disciplined growth.operating_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY19 | 650 |
| FY20 | 649 |
| FY21 | 594 |
| FY22 | 783 |
| FY23 | 966 |
| FY24 | 1,133 |
| FY25 | 1,306 |
| FY26 | 1,587 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY19 | 193 |
| FY20 | 97 |
| FY21 | 96 |
| FY22 | 130 |
| FY23 | 155 |
| FY24 | 196 |
| FY25 | 226 |
| FY26 | 258 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY19 | 22.2 |
| FY20 | 20.5 |
| FY21 | 22.7 |
| FY22 | 21.5 |
| FY23 | 21.2 |
| FY24 | 22.2 |
| FY25 | 21.8 |
| FY26 | 21.6 |
Sales jumped 25% last quarter — the 7th straight quarter of growth
Mar 26 sales were ₹461 Cr, up 25% on the same quarter last year.revenue
That makes 7 quarters of growth in a row — this is a trend, not a blip.revenue
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 308 | – |
| Sep 23 | 258 | – |
| Dec 23 | 291 | – |
| Mar 24 | 277 | – |
| Jun 24 | 296 | -3.9 |
| Sep 24 | 307 | 19.0 |
| Dec 24 | 334 | 14.8 |
| Mar 25 | 369 | 33.2 |
| Jun 25 | 340 | 14.9 |
| Sep 25 | 358 | 16.6 |
| Dec 25 | 429 | 28.4 |
| Mar 26 | 461 | 24.9 |
Margins are holding steady
Of every ₹100 of sales, the company keeps ₹20.6 as operating profit (a year ago it kept ₹22.0).opm_pct
The gross margin moved the same way (58% → 55%), so this is about input costs and pricing power — the raw-material equation worsened.gpm_pctopm_pct
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Jun 23 | 50.0 | 23.2 | 18.5 |
| Sep 23 | 55.2 | 22.8 | 18.0 |
| Dec 23 | 55.3 | 22.9 | 16.7 |
| Mar 24 | 62.1 | 19.3 | 15.9 |
| Jun 24 | 55.6 | 23.7 | 17.8 |
| Sep 24 | 54.3 | 20.9 | 16.1 |
| Dec 24 | 55.4 | 20.7 | 15.9 |
| Mar 25 | 57.5 | 22.0 | 17.7 |
| Jun 25 | 60.3 | 22.4 | 18.0 |
| Sep 25 | 58.2 | 21.8 | 16.6 |
| Dec 25 | 52.3 | 21.8 | 15.6 |
| Mar 26 | 54.7 | 20.6 | 15.8 |
Profit grew 14% last quarter
Mar 26 profit after tax was ₹75.0 Cr, up 14% year on year.net_profit
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 57.0 | – |
| Sep 23 | 46.0 | – |
| Dec 23 | 49.0 | – |
| Mar 24 | 44.0 | – |
| Jun 24 | 53.0 | -7.0 |
| Sep 24 | 49.0 | 6.5 |
| Dec 24 | 58.0 | 18.4 |
| Mar 25 | 66.0 | 50.0 |
| Jun 25 | 61.0 | 15.1 |
| Sep 25 | 61.0 | 24.5 |
| Dec 25 | 61.0 | 5.2 |
| Mar 26 | 75.0 | 13.6 |
The single biggest driver was selling more.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 66 |
| More sales | +20 |
| Thinner margins | −6 |
| Other income | +4 |
| Depreciation | −2 |
| Interest | −3 |
| Tax | −5 |
| Everything else | +1 |
| PAT Mar 26 | 75 |
Most of the profit becomes cash — but not all
Over the last 5 profitable years, the business reported ₹965 Cr of profit and collected ₹635 Cr of operating cash — about 66% conversion.operating_cash_flownet_profit
The wrinkle is the latest year: FY26 collected ₹117 Cr against ₹258 Cr of reported profit — about 45%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit
The gap sits in receivables: customers now take 72 days to pay, up from 70. Profit booked, cash pending.debtor_days
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY19 | 85.0 | 193 |
| FY20 | 188 | 97.0 |
| FY21 | 231 | 96.0 |
| FY22 | 97.0 | 130 |
| FY23 | 177 | 155 |
| FY24 | 122 | 196 |
| FY25 | 122 | 226 |
| FY26 | 117 | 258 |
The cash cycle is tightening — money comes home faster
One rupee now takes about 238 days to go out the door as materials and come back as collected cash — down from 295 days the year before.cash_conversion_cycle
The biggest mover: inventory moving faster off the shelf (312 → 247 days).inventory_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY19 | 83.0 | 337 | 36.0 |
| FY20 | 83.0 | 208 | 20.0 |
| FY21 | 69.0 | 215 | 26.0 |
| FY22 | 36.0 | 349 | 43.0 |
| FY23 | 54.0 | 348 | 52.0 |
| FY24 | 56.0 | 314 | 90.0 |
| FY25 | 70.0 | 312 | 87.0 |
| FY26 | 72.0 | 247 | 80.0 |
The asset base keeps compounding — this company builds
The productive asset base has gone from ₹94.0 Cr (FY19) to ₹428 Cr, with another ₹4.0 Cr of capacity under construction right now.fixed_assetscwip
The build is self-funded: the last 3 years' investing outflow (₹277 Cr) fits inside the operating cash the business generated (₹361 Cr).investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY19 | 94.0 | 0.0 |
| FY20 | 110 | 0.0 |
| FY21 | 102 | 2.0 |
| FY22 | 134 | 2.0 |
| FY23 | 164 | 0.0 |
| FY24 | 255 | 5.0 |
| FY25 | 359 | 4.0 |
| FY26 | 428 | 4.0 |
Almost no debt — this company cannot be killed by a bad year
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹7 — total borrowings have shrunk from ₹284 Cr to ₹81.0 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY19 | 284 |
| FY20 | 145 |
| FY21 | 68.0 |
| FY22 | 55.0 |
| FY23 | 9.0 |
| FY24 | 16.0 |
| FY25 | 43.0 |
| FY26 | 81.0 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY19 | 1.4 |
| FY20 | 0.5 |
| FY21 | 0.2 |
| FY22 | 0.1 |
| FY23 | 0.0 |
| FY24 | 0.0 |
| FY25 | 0.1 |
| FY26 | 0.1 |
Every ₹100 kept in the business earns ₹33 — a high-quality engine
Return on capital employed is 33.0% (a year ago: 38.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct
Data: Returns on capital (annual)
| Period | ROCE (%) |
|---|---|
| FY20 | 30.0 |
| FY21 | 32.0 |
| FY22 | 35.0 |
| FY23 | 37.0 |
| FY24 | 43.0 |
| FY25 | 38.0 |
| FY26 | 33.0 |
The owners aren’t moving
Promoters hold 75.0%, essentially unchanged. Foreign funds own 7.1%, domestic funds 7.7%.promoters_pctfiis_pctdiis_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Dec 23 | 75.0 | 4.7 | 6.5 |
| Mar 24 | 75.0 | 6.1 | 6.6 |
| Jun 24 | 75.0 | 6.4 | 6.7 |
| Sep 24 | 75.0 | 5.8 | 7.1 |
| Dec 24 | 75.0 | 6.5 | 7.0 |
| Mar 25 | 75.0 | 6.9 | 6.3 |
| Jun 25 | 75.0 | 6.9 | 6.7 |
| Sep 25 | 75.0 | 7.1 | 6.7 |
| Dec 25 | 75.0 | 7.1 | 7.3 |
| Mar 26 | 75.0 | 7.1 | 7.7 |
- Promoters are not selling. Their stake has moved 0.1 points or less in 8 quarters — it sits at 75.0%.promoters_pct
- Foreign funds have neither piled in nor fled — their stake has held near 7.1% for 8 quarters. No smart-money signal, in either direction.fiis_pct
Strong on the data — worth the deeper look if the story keeps its promises
The numbers lean positive, and the price is roughly fair to the delivery so far.
Best thing in the data: free cash flow rising (₹−19.0 Cr → ₹7.0 Cr).operating_cash_flow
Biggest worry: debt moving the wrong way (0.05× → 0.07×).borrowings
One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 44% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does Inox India Ltd do?
Incorporated in 1976, Inox India Limited offers solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions[1]Inox India specializes in supplying cryogenic equipment, particularly tanks. The company offers comprehensive solutions for equipment and systems operating in cryogenic conditions.[2]. It is listed in the Industrial Gas sector with a market capitalisation of ₹17,290 Cr.
What is Inox India Ltd's share price?
As of 1 July 2026, Inox India Ltd trades at ₹1,905, up 52% over the past year, with a market capitalisation of ₹17,290 Cr. Beating NIFTY 500 for 24 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is Inox India Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates Inox India Ltd's intrinsic value at ₹918 per share under base assumptions (bear ₹467, bull ₹1,254), against the current price of ₹1,905 — a 51% premium to model value. The current price already implies roughly 31% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
Is Inox India Ltd stock overvalued or undervalued?
Inox India Ltd trades at a P/E of 66.5× — the 86th percentile of its own 2.4-year trading range (median 50.8×), which is near the top of its own historical range. What the earnings deliver, the price follows. Since Feb 2024, the stock is up 62% and earnings per share are up 70% — the price has tracked the profits, not run ahead of them. Note the short 2.4-year valuation record.
What did Inox India Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 sales were ₹461 Cr, up 25% on the same quarter last year. Mar 26 profit after tax was ₹75.0 Cr, up 14% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is Inox India Ltd growing?
Sales jumped 25% last quarter — the 7th straight quarter of growth. Mar 26 sales were ₹461 Cr, up 25% on the same quarter last year.
Are Inox India Ltd's profits growing?
Profit grew 14% last quarter. Mar 26 profit after tax was ₹75.0 Cr, up 14% year on year.
What are Inox India Ltd's operating margins?
Margins are holding steady. In the most recent quarter, of every ₹100 of sales, the company keeps ₹20.6 as operating profit (a year ago it kept ₹22.0).
What is Inox India Ltd's long-term growth record?
Revenue grew from ₹650 Cr in FY19 to ₹1,587 Cr in FY26 — a 13.6% compound annual growth rate over 7 years. Profit after tax compounded at 4.2% over the same period (₹193 Cr → ₹258 Cr).
Is Inox India Ltd stock in an uptrend?
Stage 2: the trend is up, and has been for 13 weeks. Inox India Ltd is in Stage 2 — advancing, 13 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Why is Inox India Ltd stock rising?
The price is up 52% over the past year, in a confirmed Stage 2 uptrend (13 weeks), and has beaten NIFTY 500 for 24 weeks. Earnings are moving with the price — this is a profit-backed move, not a pure re-rating. Since 2024, the price is up 62% while earnings per share moved 70%.
Is Inox India Ltd beating the NIFTY 500?
Yes — beating NIFTY 500 for 24 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is Inox India Ltd in its business cycle?
The data reads Inox India Ltd as a cyclical business currently in its expansion phase — earnings at an all-time high for this company, valuation at the 86th percentile. Profits breathe with a cycle here — profit drawdowns of ~50% along the way. Swings like that are normal for this business, not news.
Who owns Inox India Ltd — what is the promoter holding?
Promoters hold 75.0%, essentially unchanged. Foreign funds own 7.1%, domestic funds 7.7%. Shareholding is from Screener's quarterly filings data.
Does Inox India Ltd have too much debt?
Almost no debt — this company cannot be killed by a bad year. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹7 — total borrowings have shrunk from ₹284 Cr to ₹81.0 Cr over the window.
What is the bull case for Inox India Ltd?
Profits are up 32% in two years, the price has kept pace — no more, no less, leaving little room for error. Best thing in the data: free cash flow rising (₹−19.0 Cr → ₹7.0 Cr). Sales jumped 25% last quarter — the 7th straight quarter of growth.
What is the bear case for Inox India Ltd — what could break the story?
Biggest worry: debt moving the wrong way (0.05× → 0.07×). A cancellation or major delay in the Kandla capacity expansion. The nearest-term thing to watch: if quarterly growth slips below 12%, the story weakens. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is Inox India Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: strong on the data — worth the deeper look if the story keeps its promises. The numbers lean positive, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is study deeper at 70% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.