Inox India Ltd
INOXINDIAInox India Ltd's price has outrun its earnings. +80.1% in a year against EPS +14.1% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +80.1% in a year while annual EPS moved +14.1% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (19 weeks in) while the P/E sits at the 88th percentile of its own 3-year range. Underneath, the last four quarters read deteriorating — profit −4.9% year on year, and 53% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Inox India Ltd trades at ₹1,943, in a confirmed uptrend and 19 weeks into that stage. That is +28.3% against its own 200-day average. It sits at 93% of a 52-week range of ₹1,089 to ₹2,004. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).
Today the stock is in a confirmed uptrend — week 19 of stage 2, confirmed. At ₹1,943 it trades +28.3% versus its 200-day average and sits at 93% of its 52-week range (₹1,089–₹2,004).
Against the market, two honest reads. Cumulative: over the last 2.6 years the stock moved +113% while the NIFTY 500 moved +22% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-08-07) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Inox India Ltd's story is not scored yet against the markers our research file set on 27 June 2026. Where it sits in its own cycle: EARLY_EXPANSION_TO_MID. Still open: A cancellation or major delay in the Kandla capacity expansion. Our fortnightly research layers last read it on 19 July 2026.
Our read, 27 June 2026. A global cryogenic engineering leader riding multiple structural tailwinds.
From the numbers. PE compressed.
From the price. Price stage 2, week 19 — above its 200-day line, relative strength falling.
From the research. A global cryogenic engineering leader riding multiple structural tailwinds.
🚨 Where they disagree. PE compressed.
What is proven. A global cryogenic engineering leader riding multiple structural tailwinds.
What is not proven yet. A cancellation or major delay in the Kandla capacity expansion.
🚨 What would change our mind. A cancellation or major delay in the Kandla capacity expansion.
🚨 Layer 1 read, 19 July 2026 — DROP. Earnings are genuinely expanding — FY26 revenue Rs 1,632 Cr (+21.2%) and PAT +19.3%, with a Rs 1,514 Cr order backlog and 60-65% domestic LNG share supporting 18-20% FY27 guidance. But the market already pays for it: PE 69 at the 86th percentile with MoS -55.6%, the re-rating has matched earnings growth, and working-capital days have bloated from 45 to 83 — so this is a hold on an existing position, not a fresh add.
What would change Layer 1’s mind. A cancellation or major delay in the Kandla capacity expansion (the timeline's own falsification) OR further WC-days deterioration that turns the reported PAT growth non-cash — either would flip this held position from hold toward exit; conversely a de-rating with sustained 20% growth would re-open a P1 add.
The test written in advance. A cancellation or major delay in the Kandla capacity expansion. — the thesis as written as stated by the next result.
What the company does. Record FY26 with revenue up 21.2% and PAT up 19.3%. Breakthroughs in marine LNG, data center cooling, and aerospace. Capacity expansion at Kandla will unlock ultra-large tank manufacturing.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| LNG Infrastructure Buildout | in play | — | Dominant 60-65% market share in domestic LNG semi-trailers drives core growth. | Government policies pivot away from LNG as a transition fuel. |
Lever 15 · Market-share gains — BUILDING. Dominant 60-65% market share in domestic LNG semi-trailers drives core growth. What proves it keeps working: LNG Infrastructure Buildout. It stops working if Government policies pivot away from LNG as a transition fuel.
Sources: our stock research file (27 June 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
| Section | Where it is now | Vs a year ago | The one thing to watch next | Read |
|---|---|---|---|---|
| Revenue | ₹461 Cr | — | LNG Infrastructure Buildout |
Revenue Revenue is the top line: everything the company billed its customers in the period.
Inox India Ltd reported ₹371 Cr of revenue in the Jun 26 quarter, +9.1% year on year. That is the 8th straight quarter of year-on-year growth. Over 7 years it has compounded at 13.6% a year. The last full year, FY26, came in at ₹1,587 Cr. The last four reported quarters add to ₹1,619 Cr.
Why this happened. The structural transition to cleaner fuels is driving immense demand for LNG transport and storage.
FY26 revenue came in at ₹1,587 Cr (+21.5% on the year), capping 7 years at 13.6% compound. The latest quarter (Jun 26) printed ₹371 Cr, +9.1% year on year — the 8th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +19.8% growth against the decade's 13.6% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +19.9% over the last 4 quarters against +20.1%/yr over the last 8 — stabilising; TTM profit +9.0% vs +15.2%/yr — rolling over.
FY26-Q3. Test
FY26-Q4. Test
Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Inox India Ltd's operating margin is 20.0% in the Jun 26 quarter, −2.0 percentage points against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 20.0% to 23.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 20.0%, −2.0 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 20.0%–23.0%.
🚨 Why the margin moved: operating margin went −2.0 pp year on year while gross margin went +0.8 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
FY26-Q3. Test
FY26-Q4. Test
Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Inox India Ltd earned ₹58.0 Cr of net profit in the Jun 26 quarter, −4.9% year on year. Full-year FY26 profit was ₹258 Cr. The 7-year compound rate is 4.2%. That is 15.6% of the quarter's revenue. The same quarter a year earlier earned ₹61.0 Cr.
Jun 26 profit was ₹58.0 Cr, −4.9% year on year. On the full year, FY26 printed ₹258 Cr (+14.2%), and the 7-year compound rate is 4.2%.
🚨 Why profit moved: revenue contributed +9.1% and the margin −2.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +9.6% vs revenue +19.8%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
FY26-Q3. Test
FY26-Q4. Test
Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 53% of Inox India Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹117 Cr of operating cash against ₹258 Cr of profit. After ₹103 Cr of capital spending, ₹14.0 Cr was left as free cash.
FY26: operating cash of ₹117 Cr against reported profit of ₹258 Cr, leaving free cash of ₹14.0 Cr after ₹103 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 53% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 53%: the cash cycle tightened 20 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 4.5× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Inox India Ltd's cash conversion cycle runs 238 days in FY26, down from 258 days in FY21. Capital spending ran ₹345 Cr over the last 3 years. At FY26 sales of ₹1,587 Cr each day of that cycle holds about ₹4.3 Cr, so roughly ₹1,035 Cr sits inside the business at any moment.
FY26: debtors at 72 days, inventory at 247 days — roughly 8.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 238 days, tighter than FY21's 258.
The full loop: cash goes out to suppliers and production on day 0; stock waits 247 days to sell; customers pay about 72 days after that; and suppliers themselves are paid at 80 days — netting out to the 238-day cycle.
In money terms: at FY26 sales of ₹1,587 Cr, each day of the cycle holds about ₹4.3 Cr — so the 238-day loop keeps roughly ₹1,035 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹345 Cr over the last 3 fiscal years against ₹77.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹4.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Inox India Ltd earns a ROCE of 33% in FY26. That is up from a trough of 30% in FY20. Return on invested capital clears the cost of that capital by +13.4 percentage points, so growth here adds value rather than only size. The wiring behind it is 16.3% net margin on 0.79× asset turns.
FY26 ROCE is 33%, recovered from a FY20 trough of 30% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 16.3% net margin × 0.79× asset turns × 1.80× balance-sheet leverage ≈ 23.2% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 25.4% − 12.0% = a +13.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Inox India Ltd carries total debt of ₹81.0 Cr against shareholder equity of ₹1,118 Cr as of Mar 26, a debt-to-equity of 0.07 — effectively unlevered. On the annual view that ratio went from 0.02 in FY23 to 0.07 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹81.0 Cr against shareholder equity of ₹1,118 Cr — a debt-to-equity of 0.07. On the annual view, debt-to-equity went from 0.02 (FY23) to 0.07 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Inox India Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.5 points over the same window, to 6.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +0.9 points over 8 quarters to 7.7%; Foreign institutions: +0.5 points over 8 quarters to 6.9%; Promoters: −0.1 points over 8 quarters to 74.9%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Inox India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Inox India Ltd trades at 68.6× P/E, at the pricey end of its own range (88th percentile). Its long-run median P/E is 51.7×, measured across 2.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 68.6× is at the pricey end of its own range (88th percentile), against a long-run median of 51.7× measured over 2.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +14.1% against a +80.1% price move — the price outran earnings, pushing the multiple UP its own range.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Topping out Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Inox India Ltd reads as topping out on its fundamental arc. Topping out — profit and EPS growth have decelerated hard (profit growth +22.1% at its peak → +9.0% latest) while ROCE still reads 34.6%. The read is built from 11 quarters across 4 curves, on full evidence.
Why it matters: decelerating from a peak is where good stories quietly end — the multiple usually notices late.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +21.5% | +18.0% | +21.7% | — |
| Profit | +14.2% | +18.5% | +21.9% | — |
| EPS | +14.1% | +18.6% | −23.1% | — |
| Share price | +80.1% | — | — | — |
4-Factor Sector Score
54.3/100 — rank 2 of 4 in Industrial Gas · 97% evidence confidence
Inox India Ltd scores 54.3 out of 100 against the 4 companies it is compared with in Industrial Gas, ranking 2. Price leads the evidence: RS versus the benchmark is 39.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
The four contributions add to the total exactly: 12.9 + 20 + 2.7 + 18.7 = 54.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Inox India Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
🚨 ISRO Third Launchpad Tender Repeatedly Delayed · 13 May 2026. In the Nov 2025 call, management committed to the ISRO third launchpad RFQ being released by December 2025, with an order expected by year-end 2025. By the Feb 2026 call, this had already slipped to before March 2026 with no explanation, and the May 2026 call now states the tender will be issued by end of the current quarter, representing roughly a six-month cumulative delay from the original commitment and three consecutive timeline misses without any justification offered for the repeated slippage.
🚨 Beverage Keg FY26 Volume Target Significantly Missed · 13 May 2026. In the Nov 2025 call, management explicitly projected at least 100,000 to 150,000 kegs for FY26, and when directly asked in the same session whether the 100,000 bare-minimum target was on track, confirmed they were on track with 30,000 already received in H1 FY26. The May 2026 call reports actual FY26 keg sales of only 61,000 units, which is at minimum 39% below the stated lower-bound target, with no acknowledgment of or explanation for the shortfall relative to the prior confirmed volume expectation.
LNG Fuel Tank Segment Characterization Contradicted · 13 May 2026. In the Feb 2026 call, management explicitly stated that Q4 FY26 had already seen a strong pickup in LNG fuel tank orders from major OEMs, framing the quarter as a clear demand recovery versus prior weakness. The May 2026 call, which reports actual Q4 FY26 outcomes, now describes the LNG truck segment as experiencing near-term challenges, directly contradicting the positive demand signal given just three months prior with no reconciliation of what changed between the forward-looking characterization and the reported reality.
🚨 Fusion Project Annual Revenue Expectation Materially Revised Down · 13 May 2026. In the Nov 2025 call, management projected 100 to 150 crores per year from all fusion-related projects globally over the next five years. In the May 2026 call, the stated annual expectation from ITER, which has been consistently described as the primary and most significant fusion client, is only 50 to 60 crores per year, leaving a gap of 40 to 90 crores per year unaccounted for, with no disclosure of other fusion projects that would bridge the shortfall to the prior annual run rate projection.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Stallion India Fluorochemicals LtdSTALLION | 62.0/100Mixed-positive evidence80% evidence | LEADER | 21.3/35 Revenue 6.5% · PAT 52.9% · OPM change 5 pp 100% evidence | 10.7/25 ROCE 11.8% · OPM 18% 100% evidence | 10.0/20 P/E 51.3× · PEG — 0% evidence | 20.0/20 RS sector 5% · RS bench 26.6% · 1Y 115.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 21.3 + 10.7 + 10 + 20 = 62 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Inox India Ltdthis pageINOXINDIA | 54.3/100Mixed-positive evidence97% evidence | LEADER | 12.9/35 Revenue 19.9% · PAT 9% · OPM change -2 pp 100% evidence | 20.0/25 ROCE 33.5% · OPM 20% 100% evidence | 2.7/20 P/E 68.6× · PEG 3.66 85% evidence | 18.7/20 RS sector 15.5% · RS bench 39.9% · 1Y 70.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 12.9 + 20 + 2.7 + 18.7 = 54.3 · Decision use: Price leads the evidence: RS versus the benchmark is 39.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 3Ellenbarrie Industrial Gases LtdELLEN | 49.5/100Mixed-negative evidence84% evidence | TURNING | 19.1/35 Revenue 8.2% · PAT 40.7% · OPM change 1 pp 100% evidence | 15.2/25 ROCE 15.2% · OPM 38% 100% evidence | 10.2/20 P/E 38.8× · PEG 1.67 50% evidence | 5.0/20 RS sector -18.8% · RS bench -0.9% · 1Y -36.5%9 of 12 weeks ahead 70% evidence |
| Exact sum: 19.1 + 15.2 + 10.2 + 5 = 49.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Linde India LtdLINDEINDIA | 43.7/100Mixed-negative evidence90% evidence | ASLEEP | 18.8/35 Revenue 10.4% · PAT 22.1% · OPM change -5 pp 100% evidence | 17.8/25 ROCE 18.2% · OPM 29% 100% evidence | 5.0/20 P/E 105× · PEG 6.56 50% evidence | 2.1/20 RS sector -19.4% · RS bench -0.8% · 1Y 5%1 of 12 weeks ahead 100% evidence |
| Exact sum: 18.8 + 17.8 + 5 + 2.1 = 43.7 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Inox India Ltd's share price today?
Inox India Ltd trades at ₹1,943, +80.1% over the past year. The company is valued at ₹17,635 Cr. The stock sits at 93% of its 52-week range of ₹1,089–₹2,004, +28.3% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 19 weeks in. — as of 14 August 2026.
What were Inox India Ltd's latest quarterly results?
Inox India Ltd reported revenue of ₹371 Cr and net profit of ₹58.0 Cr for the Jun 26 quarter. Revenue rose 9.1% and profit fell 4.9% year on year. Earnings per share were ₹6.40. The operating margin was 20.0%, 2.0 pp lower than a year earlier. — as of 14 August 2026.
What is Inox India Ltd's revenue?
Inox India Ltd reported revenue of ₹371 Cr in the Jun 26 quarter, +9.1% year on year. For the full FY26 fiscal year, revenue was ₹1,587 Cr (+21.5%). Over the last 7 years revenue compounded at 13.6% a year. — as of 14 August 2026.
What is Inox India Ltd's profit?
Inox India Ltd earned ₹58.0 Cr of net profit in the Jun 26 quarter, −4.9% year on year. Full-year FY26 profit was ₹258 Cr. The operating margin ran 20.0% in the latest quarter. — as of 14 August 2026.
What is Inox India Ltd's market cap?
Inox India Ltd's market capitalisation is ₹17,635 Cr at a share price of ₹1,943. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Inox India Ltd's P/E ratio?
Inox India Ltd trades at a P/E of 68.6×, at the 88th percentile of its own 3-year range, against a long-run median of 51.7×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Inox India Ltd pay a dividend?
Yes — Inox India Ltd's dividend payout was 7% of profit in FY26, and it recorded a payout in 5 of its last 8 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.
Is Inox India Ltd overvalued?
On its own history, Inox India Ltd looks expensive: its P/E of 68.6× sits at the 88th percentile of its 3-year range (long-run median 51.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.
Is Inox India Ltd growing?
Not right now — Inox India Ltd's latest numbers are shrinking: latest-quarter revenue +9.1% year on year, profit −4.9%, and the margin −2.0 pp at 20.0%. The 7-year compound rates are 13.6% (revenue) and 4.2% (profit). The earnings engine currently reads: deteriorating — as of 14 August 2026.
How is Inox India Ltd performing?
Inox India Ltd is in a confirmed uptrend, 19 weeks in. Its latest quarter's revenue rose 9.1% and profit fell 4.9% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 14 August 2026.
What stage is Inox India Ltd in?
Topping out — profit and EPS growth have decelerated hard (profit growth +22.1% at its peak → +9.0% latest) while ROCE still reads 34.6%. The read comes from the last 12 quarters of growth (revenue growth +19.9% latest, profit growth +9.0% latest, eps growth +8.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.
Is Inox India Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 19 of stage 2), trading +28.3% versus its 200-day average and at 93% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.
Is Inox India Ltd beating the market?
Not lately — on a trailing-13-week view Inox India Ltd is currently behind the NIFTY 500 (1 week and counting; last ahead the week of 2026-08-07), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 2.6 years the stock moved +113% against the NIFTY 500's +22% — ahead of the index over the full window. — as of 14 August 2026.
Will Inox India Ltd's share price go up?
This page publishes no price forecast for Inox India Ltd. What it measures instead: the share price is ₹1,943, the price is in a confirmed uptrend 19 weeks in. Its P/E of 68.6× sits at the 88th percentile of its own 3-year range. — as of 14 August 2026.
Who owns Inox India Ltd?
Promoters hold 74.9% of Inox India Ltd, foreign institutions 6.9%, domestic institutions 7.7% and the public 10.6% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 14 August 2026.
Does Inox India Ltd have too much debt?
No — Inox India Ltd's debt-to-equity is 0.07, and operating profit covers the interest bill 38×. FY26 borrowings were ₹81.0 Cr against equity of ₹1,117 Cr. The returns on this page are earned, not borrowed — as of 14 August 2026.
What is Inox India Ltd's capex?
Inox India Ltd spent ₹345 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹103 Cr, with ₹4.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Inox India Ltd's cash flow?
Inox India Ltd generated ₹117 Cr of operating cash flow in FY26 and ₹14.0 Cr of free cash flow after ₹103 Cr of capital spending. Reported profit that year was ₹258 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Inox India Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 53% of Inox India Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹117 Cr against reported profit of ₹258 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is Inox India Ltd in its business cycle?
Inox India Ltd's FY26 operating margin was 22.0%, against a 8-year band of 20.0%–23.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 20.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What could break the Inox India Ltd story?
The sharpest disagreement: the price moved +80.1% in a year while annual EPS moved +14.1% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.
Is Inox India Ltd a stock worth studying right now?
This is not investment advice. The machine read: Inox India Ltd's price has outrun its earnings. +80.1% in a year against EPS +14.1% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.