Inox India Share Price Declines 2% After Recent Gains

Market Performance

On March 7, 2025, shares of Inox India decreased by over 2 percent to Rs 1,002 in early trading, marking the end of a three-day upward trend. The decline occurred following the announcement of order acquisitions totalling Rs 190 crore during January and February. As of the current year, Inox India's share price has registered an approximate decline of 7 percent.

Main News

Inox India disclosed that it secured multiple contracts for its cryogenic technology solutions. These orders include:

• A significant contract from a European university for transfer lines.
• An Australian client has placed an order for IMO containers, which are utilized in the storage of gases like oxygen, nitrogen, and carbon dioxide are included

Additionally, the company has received various orders for LNG and industrial gas storage tanks, vaporizers, and other cryogenic equipment. Deliveries for these contracts are scheduled across Europe, the United States, and India.

As a result of these orders, Inox India's order book for the financial year 2024-25 (FY25) has reached Rs 1,359 crore. The company attributes this growth in orders to increased international demand for clean energy and industrial gas infrastructure.

Company Details

Recently, Inox India became India's first cryogenic equipment manufacturer to obtain the IATF 16949 certification for cryogenic fuel tank manufacturing. This certification, awarded by Bureau Veritas Certification, covers the design and manufacturing of insulated cryogenic fuel tanks.

The IATF 16949 certification is recognized as a mandatory quality management standard for automotive suppliers. It was granted following a detailed audit conducted at the company's facility in Kalol, Panchmahal, Gujarat. The certification process reviewed the entire design and manufacturing operations range, with no exclusions, highlighting the company's comprehensive expertise in this specialized domain.

Summary

In summary, Inox India experienced a slight downturn in its share price after recent gains, coinciding with the announcement of significant orders and a notable certification milestone. The company's latest contracts involve a range of cryogenic solutions scheduled for delivery in multiple regions. Meanwhile, the recent IATF 16949 certification underscores its commitment to maintaining industry-standard practices in the manufacturing of cryogenic fuel tanks.