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Investor Presentation Investor Presentation Q 1 F Y 2 7 3rd Aug 2026 INOX India Ltd
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Investor Presentation Q1FY27 Summary Summary INOX India – In a Nutshell Key Highlights – Q1FY27 Growth Drivers Financial Performance Profit & Loss Balance Sheet Shareholder Information Growth Story of INOX India 2
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Investor Presentation Q1FY27 World's leading provider of customized cryogenic equipment Over 30 years of experience in design, manufacturing and installation of cryogenic equipment Global customer base across 100+ countries Large-scale serial manufacturing facilities at four locations in India and part manufacturing and service distribution from one location at Brazil and stock & sale facility at Netherlands in Europe Working continuouslytowards Clean Energy initiativesin- LNG, Liquid Hydrogen & Fusion Energy Business Divisions Note - Figures have been regrouped wherever necessary. Cryo Scientific INOX India-In a Nutshell INOX India-In a Nutshell KegsIndustrial Gases LNG 18% Robust 3Y CAGR Total Income FY26 (₹. Cr) 1632 Cr Revenue 388 Cr EBIDTA 23.8% EBITDA Margin 258 Cr PAT 15.8% PAT Margin 31% RoCE 23% ROE 3
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Awarded “ Most Impactful ESG Initiative” & “Innovation in Distribution” at the Gasworld Global Innovation Awards Additional Order received from US space company for large size ( 1000M 3 ) tanks Highest Quarterly Order booking of Liquid Cylinder - Qty 1700+ Additional order received from ITER for installation work of Cryo & Warm line, and refurbishment of Lower Cryostat Thermal Shield Key Highlights – Q1FY27 Key Highlights – Q1FY27 Investor Presentation Q1FY27 Secured a high-value repeat order from the Global aerospace Company Secured equipment orders from Private & PSU entities for additional 7 Nos of LNG Fuel Station Agreement with Wayoutto Explore Freshwater infra system for Asian market Secured order for 22 Nos of cryogenic modules for the HL-LHC project of CERN, the world's largest particle physics laboratory Collaboration with ITMBU, for skill development in Orbital Welding and Semiconductor Industries Secured AS9100 Aerospace Certification: Serving Aviation, Space, and Defence 4
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Multiple Levers. One Growth Journey. Investor Presentation Q1FY27 5
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INOXCVA’s Role in Powering ISRO’s Space Mission INOXCVA’s Role in Powering ISRO’s Space Mission Investor Presentation Q1FY27 Solutions for Testing Liquid Oxygen Sub-coolers / Coolers (Cryo) Liquid Oxygen Run Tanks & LOX System for Test Facility LOX Disposal System Ln Tanks – Storage / Catch Tanks2 Gaseous Helium / Methane / Nitrogen / Oxygen Systems DM Water Tanks – Test Stage A Bay Engine Test Bay Ambient Vaporizers – Storage Liquid Hydrogen Tank & System (Optional for LOX–LH2 Cryo Testing) Vacuum-Jacketed Cryo Piping (Super-Insulated) Solutions for Launchpad for rockets & payloads Electrical, Instrumentation, and Control System Gas Storage and Servicing Facility (GSSF) Compressed Air and Fire Protection System Electronic Support Systems Umbilical Tower Large-Scale Setup / Storage of Liquid Nitrogen 30 KL / 2 Nos. super-insulated tank station (PIC) 6
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Why the world is choosing LNG Cheaper Persistent LNG–diesel price spreads have made LNG a very competitive alternative in industrial boilers, power generation, and transport. Wood Mackenzie Data I IEEFA Reduces Emissions Produces roughly 25–30% less CO₂ per unit of energy compared to oil-based fuels like diesel. IEA Investor Presentation Q1FY27 Rising Global Demand Shell forecasts LNG demand to rise ~60% by 2040, largely due to cost- driven fuel switching and emissions goals in heavy sectors. Shell LNG Outlook 2025 7
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Small LNG Carrier Mini LNG Terminal LNG Bunkering Station LNG IMO Tank LNG Fuelled Ferry LNG Mining Truck LNG Fuel Tank for Trucks LNG/LCNG Fuelling Station Satellite Fuelling Stations LNG Small Liquefaction Plant LNG Storage & Trailer LoadingLNG TrailerLNG Rail Locomotive/Rail Car LNG Fueled Bulk Carrier LNG Satellite Station INOXCVA'S Role Across the LNG Value Chain INOXCVA'S Role Across the LNG Value Chain Investor Presentation Q1FY27 8
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Mini-LNG Terminals, Mega Potential Mini-LNG Terminals, Mega Potential Island nations face extreme electricity costs due to fossil fuel imports, impacting their economies. Electricity generation on islands can cost 10 times more than on mainland territories and countries. Investor Presentation Q1FY27 Island nations face difficulties in balancing energy demand and supply. They tend to be heavily dependent on imported fossil fuels, which can lead to high costs and energy security risks. Aging power systems are often inadequate to accommodate growing electricity demand due to economic growth and increased air- conditioning usage. Clean Energy Boosts Resilience: Clean energy, generated locally can improve energy security. Mini-LNG Terminals: Game Changer for Islands' Energy https://www.iea.org/com mentaries/islands-need-resilient- power-systems-more-than-ever-clean-energy-can-deliver 9
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The 100 MTPA global potential in small-scale LNG demand underpins a fast-growing market, valued at $10 billion in 2023 and projected to reach $16 billion by 2028. Rapid adoption in off-grid power, industrial clusters, remote transport, and marine fuel Requires modular, scalable cryogenic solutions for production, storage & distribution Small-scale LNG offers lower CAPEX & faster deployment vs conventional LNG Hastens energy transition goals in hard- to-abate & underserved regions Investor Presentation Q1FY27 Small-Scale LNG: Big Drivers. Bigger Potential 10
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Powering the Next Wave of Clean Mobility LNG Cryogenic Fuel Tanks Powering the Next Wave of Clean Mobility LNG Cryogenic Fuel Tanks PNGRB estimates number of LNG fuelled trucks to increase from 50,000 in 2030 to 5,00,000 in 2040 in a GTB scenario Investor Presentation Q1FY27 Policy push: MoPNG targets 1,000 LNG fuel stations across India LNG offers up to 30% lower emissions vs diesel, with significant fuel cost savings PNGRB roadmap identifies LNG as key to decarbonizing heavy-duty transport Cryogenic fuel tanks are critical for safe, efficient on-board LNG storage Strong demand outlook from trucking, mining, and intercity logistics sectors Growth opportunities in OEM integration, retrofit kits, and refuelling infrastructure 11
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ITER Cryogenic operations ramping up, First Plasma expected in 2035, requiring Helium and Nitrogen Cryogenic infrastructure (iter.org) Collaboration potential withITER Domestic agencies: Infrastructure around main Tokamak reactor (iter-india.org, f4e.europa.eu) Investor Presentation Q1FY27 Fusion ecosystem developing globally with ITER as a benchmark: DEMO reactors and commercial fusion opportunities will emerge (https://euro-fusion.org/programme/demo/) Public projects like ITER, DEMO, SPARC and 40+ fusion startups are accelerating. Funding of >$7bn seen in Fusion industry sector so far. Fusion Industry Association Report 2024 India & fusion: India developing a 25-year roadmap, planning two new tokamak machines: a spherical tokamak fusion neutron source and a conventional steady-state tokamak (two-thirds ITER's size), before an Indian DEMO in the late 2040s (IAEA Fusion Energy Conference 2023, Department of Atomic Energy, India) The Fusion Future Unleashing Opportunity with ITER & beyond 12
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India Semiconductor Opportunity India Semiconductor Opportunity Transformation from a Semiconductor Design Hub to a Manufacturing Leader India Semiconductor Mission (ISM) Accelerating investments across Fabs, ATMP/OSAT, and the semiconductor ecosystem. India's Opportunity US$100B+ Global Semiconductor Market by 2030 2X Global Semiconductor Design Talent India is home to over one-fifth of the world's semiconductor design engineers. Investor Presentation Q1FY27 13
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The LDES Council estimates that the transition to net zero could require 2–8 TW of long-duration energy storage capacity by 2040, unlocking US$1.7–3.6 trillion in cumulative investment. New avenues in the rapidly growing energy storage sector. 14 Investor Presentation Q1FY27
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Hydrogen Demand Global Hydrogen demand grew almost 3% in 2025 to surpass 100 MT.(IEA, Global Hydrogen Review 2026) Global Trade Boom Expected to reach 53 MT by 2050, Massive opportunities in storage and export infrastructure. (IRENA) Cryogenic Advantage Liquid hydrogen offers higher energy density and long-distance transport feasibility, making cryogenic technology a key enabler. Infrastructure Gap Supply chains require investment in cryogenic tanks, trailers, and terminals - especially for port-based hydrogen hubs Decarbonization Push Hydrogen is part of net-zero goals across mobility, steel, refining, and chemicals- creating massive cryogenic logistics demand. Policy Tailwinds: Initiatives like National Green Hydrogen Mission, EU's REPowerEU, US's IRA, are fueling hydrogen ecosystem build-outs. Investor Presentation Q1FY27 The Business Case for Cryogenic Hydrogen The Business Case for Cryogenic Hydrogen 15
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Investor Presentation Q1FY27 HYDROGEN The world is shifting to Hydrogen INOX did it in 1999 Offers end-to-end solutions for LiquidHydrogen storage and transportation, available in sizes ranging from small to large as required INOXCVA | Growing at the Pace of Clean Energy Propelling Green Clean Energy Future INOXCVA | Growing at the Pace of Clean Energy Propelling Green & Clean Energy Future LNG INOX is shaping The Future of LNG as Fuel INOXCVA is a pioneer and market leader in LNG infrastructure Continual innovation and new product introductions to meet emerging industry needs have been the hallmark of INOXCVA's LNG journey FUSION Helping harness Fusion's true potential Proud contribution to the world's largest fusion research project by providing critical equipment: 4km long complex jacketed piping to maintain ultra cold superconducting magnets operational under all conditions INOXCVA 16
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Financial Performance Investor Presentation Q1FY27 17
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Investor Presentation Q1FY27 *Adjusted Ebitda KEY HIGHLIGHTS-FINANCIAL Consolidated Q1FY27 Highest ever Order booking ₹ 532 Cr. Q1FY27 Highest ever Revenue of CSD Div ₹ 75 Cr. Q1FY27 Highest ever Order Backlog ₹ 1686 Cr. Q1FY27 Highest ever Export Backlog ₹ 1140 Cr. 18
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CONSOLIDATED KEY RESULT HIGHLIGHTS Investor Presentation Q1FY27 Q1 FY27 Q1 FY26 FY26 382 Cr. 90 Cr. 61 Cr. 352 Cr. 88 Cr. 61 Cr. 1632 Cr. 388 Cr. 258 Cr. 8.3% 1.4% 0%% Increase from Q1FY 26 (YoY) PERIOD EBITDA PATREVENUE 1. Revenue includes Other Income (Interest etc.) 2. Growth in sales value is lower due to following reasons. ⏺ Sales value were marginally lower on YoY basis primarily due to ongoing logistics disruptions arising from the geopolitical situation involving Iran and the Gulf region. ⏺ There is de-growth in other income by 14.7% in Q1FY27 against growth in revenue from operations of 9.2%, other income is low due to Forex Gain is lower by Rs 2.6 Cr from 2.9 Cr in Q1FY26 to 0.3 Cr in Q1FY27.This is booked as per INDAS rules only which is fluctuation between exchange rate on the date of sales to Qtr end only for pending collection. Exchange gain up to the date of sale is booked in sales value itself as per rules. 3. EBITDA value growth is 1.4% in absolute terms looks lower on YoY basis than revenue Growth of 8.3% mainly due to lower growth in Revenue in this Quarter. Our overall expenses in this Qtr. is 76.5% against LY avg. of 76.2% and last Qtr. of 77.3%, which was 74.9% only in Q1FY26 and then increased due to new manpower addition in LY at Savli due to new expansion of Cryo & Non Cyro facility in middle of the year which is under full productivity stabilisation at present. 4. Steady PAT value is due to reason given above and higher depreciation due to capitalization of new Cryo-Non Cryo tank mfg. facility at Savli and Leased Trailers capitalized in Brazil during the second half of last year. However, if we compare the PAT Margin ( 15.9% of Total Income ), it is within the range if we compare with Q4FY26 and FY26, in which it was 15.6% and 15.8% respectively. 2 3 1 4 19
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SEGMENT WISE REVENUE Investor Presentation Q1FY27 INDUSTRIAL GAS LNG CRYO - SCIENTIFIC OTHERS % Share FY'25 FY’2 6 FY’2 7 Q1FY27 IG 61 % 54% 53% LNG 17% 28% 22% CSD 17 % 14 % 20 % OTHER* 5% 4% 5% % TOTAL 100% 100% 100% Consolidated Revenue – Q1 FY26 to Q1 FY27 ( ₹ Cr) % Share Q1 FY2 6 Q4 FY 26 Q1 FY 27 IG 47% 50% 53% LNG 29% 32% 22% CSD 19% 12% 20% Others* 5% 6% 5% % TOTAL 100% 100% 100% *Other includes Keg Segment wise,Quarter wise ( QoQ,YoY ) Revenue % Segment wise,Year wise Revenue % 165 212 261 237 202 102 93 107 155 86 67 49 55 56 75 18 15 13 27 19 352 369 436 475 382 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 20
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Investor Presentation Q1FY27 21 DOMESTIC - EXPORT REVENUE EXPORT DOMESTIC Consolidated Revenue – Q1 FY26 to Q1 FY27 ( ₹ Cr) 154 158 165 184 160 198 211 271 291 222352 369 436 475 382 44% 43% 38% 39% 42% 56% 57% 62% 61% 58% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27
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Investor Presentation Q1FY27 SEGMENT WISE ORDER RECEIVED 22 % Share FY’2 6 Q1F Y’ 27 IG 56 % 72 % LNG 23 % 16 % CSD 19 % 10 % OTHER * 2% 2% TOTAL % 100% 100% Avg Order per Qtr received ** 421 532 % Growth 26.4% *Other includes Keg INDUSTRIAL GAS LNG CRYO - SCIENTIFIC OTHERS Segment Q1FY26 Q1FY27 % incr. ( Decr .) IG ( 1) 178 385 116.4% LNG 85 83 (1.7%) CSD (2) 146 54 (63.1%) OTHER * 6 1 0 65.6% Act Order Recd. 415 532 28.4% Avg Order Recd. 421 532 26.4% Segment wise Order received YoY Segment wise Year wise % 178 222 216 325 385 85 79 97 122 83 146 60 69 49 54 6 13 10 8 10 415 374 392 504 532 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Consolidated Order Received – Q1 FY26 to Q1 FY27 ( ₹ Cr ) Note: - 1) In Q1FY27 includes high value order of ₹ 217 Cr from US major private Aerospace Co. (IG) 2) In Q1FY26 ITER France order received of ₹ 146 Cr. for CTS Repair (CSD)
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Investor Presentation Q1FY27 DOMESTIC -EXPORT ORDER RECEIVED 23 EXPORT DOMESTIC Consolidated Order Received – Q 1 FY2 6 to Q 1 FY2 7 ( ₹ Cr ) 187 156 141 223 169 228 218 251 281 363 415 374 392 504 532 45% 42% 36% 44% 32% 55% 58% 64% 56% 68% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27
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Investor Presentation Q1FY27 SEGMENT WISE ORDER BACKLOG 24 % Share Q1 FY2 6 Q4 FY 26 Q1 FY 27 IG 44 % 49% 55% LNG 32 % 28% 25% CSD 23 % 22% 18% OTHER* 0% 1% 2% % TOTAL 100% 100% 100% INDUSTRIAL GAS LNG CRYO - SCIENTIFIC OTHERS* *Other includes Keg 648 674 630 738 930 469 454 446 422 425 334 340 362 329 3076 17 19 25 25 1457 1485 1457 1514 1686 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27
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Investor Presentation Q1FY27 DOMESTIC -EXPORT ORDER BACKLOG 25 EXPORT DOMESTIC Consolidated Order Backlog – Q 1 FY2 6 to Q 1 FY2 7 (₹ Cr ) 539 551 539 554 546 918 934 918 960 11401457 1485 1457 1514 1686 37% 37% 37% 37% 32% 63% 63% 63% 63% 68% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 AXIS TITLE
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CONSOLIDATEDPROFIT AND LOSS – KEY SUMMARY FIGURES PAGE(1/2) Investor Presentation Q1FY27 26
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CONSOLIDATEDPROFIT AND LOSS – KEY SUMMARY FIGURES PAGE(2/2) Investor Presentation Q1FY27 Remark for Q1FY’27 vs Q1FY’26 & FY26 27 1. Sales were marginally lower on YoY basis primarily due to ongoing logistics disruptions arising from the geopolitical situation involving Iran and the Gulf region. 2. There is de-growth in other income by 14.7% in Q1FY27 against growth in revenue from operations of 9.2%, other income is low due to Forex Gain is lower by Rs 2.6 Cr from 2.9 Cr in Q1FY26 to 0.3 Cr in Q1FY27.This is booked as per INDAS rules only which is fluctuation between exchange rate on the date of sales to Qtr end only for pending collection. Exchange gain up to the date of sale is booked in sales value itself as per rules. 3. The decrease in material cost % alongside the rise in other expenses was driven entirely by a temporary shift in our order mix toward labour-intensive sale and low- material intensive sale in this quarter, but the reduction in material cost is offset by increase in other expenses while maintaining the EBITDA margin. 4. Employee cost is higher by 23.0% in Q1FY27 on YoY against growth of 9.9% in revenue from operation due to lower sales and new Cryo tank mfg. facility & other products started at Savli which is under productivity stabilization at present agst which employees already recruited for training etc. However , if we compare with QoQ basis the increase is only 10.7% that is due to increment effect. 5. Total expenses including material cost is 76.5% in Q1FY27 as against 74.9% in Q1FY26 , 77.3% in Q4FY26 and 76.2% in FY26.This has resulted into lower EBITDA of 23.5% in Q1FY27 as against 25.1% in Q1FY26, 22.7% in Q4FY26 and 23.8% for full year FY26.The marginal increase in Total Exp % is largely due to marginal lower sales in Q1FY27 6. EBITDA value growth is 1.4% in absolute terms looks lower on YoY basis than revenue Growth of 8.3% mainly due to lower growth in Revenue in this Quarter. Our overall expenses in this Qtr. is 76.5% against LY avg. of 76.2% and last Qtr. of 77.3%, which was 74.9% only in Q1FY26 and then increased due to new manpower addition in LY at Savli due to new expansion of Cryo & Non Cyro facility in middle of the year which is under full productivity stabilisation at present. 7. Finance cost is slightly higher due to not liquidating the Long Term Mutual Fund to save taxes and utilizing the fund based limit to get benefit of differential gain of around 0.75% in earning vs cost of funds. The Finance cost is 1.6 Cr in Q1FY27 ( 0.4% of Total Income 382 Cr ) against 0.7 Cr in Q1FY26 , increase by 0.2% of Total Income. The Gain on Mutual fund is Rs 8.33 Cr in Q1FY27 against 7.41 Cr in Q1FY26 , increase by 0.92 Cr . Hence , there is no increase in Net Finance cost in real terms. 8. Depreciation also increased due to capitalization of new Cryo-Non-Cryo tank mfg. facility at Savli and Leased Trailers capitalized in Brazil during the second half of last year. 9. Steady PAT value is due to reason given above and higher depreciation due to capitalization of new Cryo-Non Cryo tank mfg. facility at Savli and Leased Trailers capitalized in Brazil during the second half of last year. However, if we compare the PAT Margin ( 15.9% of Total Income ), it is within the range if we compare with Q4FY26 and FY26, in which it was 15.6% and 15.8% respectively.
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CONSOLIDATED BALANCE SHEET – KEY SUMMARY FIGURES Investor Presentation Q1FY27 28 Strong Balance Sheet (Net Debt Free) Availability of Approx `331 Cr Free Cash Impressive Order Backlog on Jun’26 : ` 1686 Cr agnst 1514 Cr in last Yr Potential To Grow Aggressively Without Any Stress On The Balance Sheet Definitions : - a. Net Debt = [Gross Debt incl. short term ] Less [Cash & Bank, FDR & Mutual Fund] b. ROE (Annualised) : PAT/NetWorth c. ROCE (Annualised): EBIT/ Capital Employed(CapitalEmployedused = TotalAssets less Liabilities) All formula as per the definitionin RHP. 1. Net cash/bank balance is higher than Mar’26 in spite of payment of dividend due to increase in advance from customers & realization of Contract Assets/Trade Receivable and real fixed assets addition of Rs 11 Cr ( 25- 14 Lease land at Kandla port as per IND AS rules). 2. Trade payable , other current liabilities & other current assets is Rs 204 Cr against last year Rs 239 Cr, so overall there is reduction. 3. The ROE and ROCE are slightly lower due to lower sales and PAT in Q1 FY27, also higher denominator (Net worth) in comparison to March 2026 4. Previous period figures have been regrouped wherever necessary.
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Investor Presentation Q1FY27 SHAREHOLDER INFORMATION SHARE HOLDING PATTERN–30thJun’26 ( IN %) Promoters DII FPI Public 74.86% 7.67% 6.87% 10.60% Jun 2026 • NSE Ticker INOXINDIA • BSE Ticker 544046 • IPO Listing Date 21-Dec-23 • Share Price (Rs) 1,960 • Market Cap (Rs. in MN) 177,751 • % Free Float 25% • Free Float Marker Cap (Rs. in Mn) 44,438 • Shares Outstanding 9,07,63,500 • 3 Months Average Daily Trading Volume (ADTV) (shares) - 30th June 26 422,028 • 3 Months Average Daily Trading Volume (ADTV) (Value Rs. In Mn) - 30th June 26 698.21 • Industry Other Industrial Products Source: NSE, *ADTV – Average Daily Trading Volume 29
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The INOX India Story Investor Presentation Q1FY27 30
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Industry leader in manufacturing a wide Industry leader in manufacturing a wide Cryogenic tanks and systems for storage, and transportationof industrial gases such as Oxygen,Nitrogen,Argon, Hydrogen,CO2, etc Products Storage tanks Micro bulk Units Cryo Bio tanks Transporttanks Vaporizers Storage & regasificationequipment 300 KL and 500 KL tanks ISO compliant containers Standardvertical tank Microbulk Tank Standard and engineered equipmentfor LNG storage,distribution and transportation. Products Storage & regassystemfor Industrial applications Marine fuel gas systems Mini LNG infrastructure Vehiclemounted LNG fuel tanks LCNG fuel stations LNG infrastructurefor automotiveapplications 1,000m3 Mini LNG Terminal LNG Bunker Barge tanks LCNG fuel station LNG satellitestation Equipment for technologyintensiveapplicationsand turnkey solutions for scientific and industrial research involvingcryogenic distribution Products Satelliteand launch facilities Liquid H2 & He systems Cryogenic propulsion system and research Fusion and superconductivity MRI Cryostat Cryostatfor MRI SuperconductingMagnet Multi-core Cryoline Warmlines ESPN Nuclear Code Certified Vessels Thermal shield repair ITER Project range and various kinds of Cryogenic equipment Industrial Gas (Offerings) LNG (Offerings) Cryo Scientific (Offerings) Engineering Expertise + Quality product offering + Customer service The company executes large turnkey projects and manufactures non-cryogenic equipment Investor Presentation Q1FY27 31
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Collaboration, in-house technology, and engineering capabilities have enabled INOX to earn brand value for its expertise in the entire Cryogenic value chain Collaboration,in-house technology,and engineeringcapabilities haveenabledINOX to earn brand value for its expertise in the entireCryogenicvalue chain Investor Presentation Q1FY27 1993 Established manufacturingof Cryogenictanks 2006 Completionof supply & installationof Cryogenic equipment'sfor second launch pad projectof ISRO 2018 Manufacturing, installation and commissioning of COMNAVAC thermal vacuum systemfor ISRO1 2019 Installationof mini-LNG terminal, in Scotland,UK Commissioningof LNG dispensing station in Dahej & CNG cascade filling facilityin Nagpur 2021 Completionof manufacturingof cryolines& warm lines for ITER2 Awarded contractfor settingup of mini-LNG terminalfor Caribbean LNG Inc,West Indies 2022 Manufacturedand deliveredan MRI cryostatfor a GOI project Venturedinto manufacturing stainlesssteel kegs for varied applicationsincludingbeverages Successfullydispatched4×3 11 m³ LH2 tank to Korea IPO listing on IndianStock Exchange 2023 2025 Biggest everorder receivedin LNG Division for Mini LNG Terminalat Bahamas First Liquid Air Tankorder of Largest Size IG Tankreceivedfrom UK Customerfor LDES (Long DurationEnergy Storage)application First in India to have Certification of FSSC 22000 of Kegs for Beverage& Food application First Indianmanufacturerof Cryogenic Equipment to achieve the IATF16949 certificationfor LNG Fuel Tank 2024 Receivedapprovalfor SS Keg from Heineken,the second largest breweriesin the world First order of its kind received for CO2 battery storageapplicationin India Large value order received from ITER for repair of Cryostat Thermal Shield Order of largest size (1500M3)tanks in IG segment receivedfrom US space company SNAPSHOT ISRO Launch Pad COMNAVACthermal vacuum system Multi-core Cryoline & Warmlines Hydrogen tank installation 1 A premierspace researchorganizationin India; 2 An India based project of an instituteinvolvedin plasma research 32 2026 Agreement with Wayout to Explore Freshwater infra system for Asian market Secured AS9100 Aerospace Certification: Serving Aviation, Space, and Defence
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Investor Presentation Q1FY27 team with 450+ engineers providesthe ability to developnew products and offercustomized solutions Strong Product Development & Engineering Focus Cargo tanks for an inland water way LNG bunker barge for European customer Ability to provide customized solutions Installationof mini-LNG terminal in Scotland, UK and Antigua LNG mining tanks for a multi-national equipment manufacturer Focus on Product Development Liquid Hydrogenstorage tanks Aluminium trailers LNG dispensers OEM LNG vehiclefuel tanks Cryogenic biologicalstorage LNG/LCNGfuel stations CryoScientificDivision -specialized product development Turnkeysolutions for scientific and industrial research Expertise in designing, manufacturing,and installing cryolines,vessels,and related systems. Focus on satelliteand launch facilities,cryogenic propulsion systems, superconductivity,etc. Cryogenic propellant filling and servicing facility for a launch pad project in India ManufacturedMRI cryostat for GOI. Manufactureda thermal vacuum chamber with a Spanish partner Design,manufacturing, installation and acceptance tests of the ITER Cryolines and warmlinesin France 33
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Europe Stock & Sale Brazil Manufacturing& Service Center India ManufacturingUnit in Kalol , Gujarat since 1992 with 92,036Sq mt Head Office Vadodara,Gujarat ManufacturingUnit in Silvassa,Gujarat since 2004 with 7,000Sq mt ManufacturingUnit Savli , Gujarat, since 2024 with 264,223 M2 Manufacturing Unit (SEZ) in Kandla SEZ, Gujarat since 2007 with 30,996 Sq mt Supported by Integrated Facilities in India and Service Support Internationally making it a ‘True - blue Indian Multinational’ countries Supported by IntegratedFacilities in India and Service Support Internationallymaking it a ‘True - blue Indian Multinational’countries Investor Presentation Q1FY27 Designed, Engineered and Made In India IntegratedManufacturingfacilities in the Indian Cryogenic Industry Making For The World 5000+ customersacross 100+countries countries with INOXCVA operations3 sales & service support locations30+ 100+ countries accommodating INOXCVAclients 34
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Investor Presentation Q1FY27 Serving CryogenicSolutions that optimizeprocesses, reduce costs, minimize environmental impact,and ensures top-quality performance Oil & Gas, Refining & Petrochemicals| Shipping & Transportation| Construction& Cement | CryoScientificResearch I Dairy & Livestock | Electronics| Fertilizers& Chemicals Food & Beverages| Glass & Ceramics | Healthcare & Life SciencesI Hydrogen| Industrial Gas | LNG & LCNG | Metal Processing | Paper & Pulp Pharmaceuticals| Power & Utilities | Rubber | Steel & Mining | Water & Water Treatment| Aviation& Aerospace | MaterialHandling | Entertainment& Events Product Range With Applications From ‘Deep In The Earth’ To ‘High Up In Space’ Product Range With ApplicationsFrom ‘Deep In The Earth’ To ‘HighUp In Space’ 35
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Investor Presentation Q1FY27 Serving CryogenicSolutions that optimizeprocesses, reduce costs, minimize environmental impact,and ensures top-quality performance Industrial Gas Diversified Domestic and International Customer Base across Industry Sectors DiversifiedDomestic and International Customer Base across Industry Sectors LNG Cryo Scientific InternationalEurope US • ISO 3824 - Part 2 • National Sanitation Foundation • FSSC22000 • IATF 16949 • AS9100 D - Aerospace Europe • EN 13458 • EN 13530 • CE US • ASME U & R Stamp • DOT 39 International Maritime Org. • ASME U & R Stamp • DOT 39 India • Bureau of Indian Standards • PESO Obtainedmultipleapprovalsand certificationsrequired to sell products across geographies Key Export Geographies – US, Europe,Saudi Industrial Arabia,Brazil,Korea, UAE, Australia and Bangladesh Avgof last 4 years South America 14% Europe 23% Excluding India North America 32% Export to Others Stringencyrelated to design, manufacturingand the number of regulationsin the cryogenicequipment segment is a barrier to entry 1 1. Crisil report Nov23 Domestic Presence InternationalPresence 36
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Investor Presentation Q1FY27 Helmed by Technocrat Promoters and Professional Management Helmed by TechnocratPromotersand ProfessionalManagement Mr. Pavan Jain Chairman Mr. Siddharth Jain Director Mr. Parag Kulkarni ED • Bachelors’degree in Chemical Engineeringfrom IIT Delhi • 50+ years of experience in the industry • Played an instrumental role in guiding the company to become one of the leading cryogenic tank manufacturers in the world • Bachelor’s degree in Mechanical Engineering from University of Michigan • MBA from INSEAD. 25+ years of experience in cryogenic engineering industry • Overseeing Group’s strategic planning, business development functions, etc. • Bachelor’s degree in Mechanical Engineering from University of Mumbai • Master’s degree in Management Studies from JBIMS, Mumbai • 50+ years of experience in the industry 37
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Investor Presentation Q1FY27 Made possible by the Exceptional Team driving INOX towards Excellence Made possible by the ExceptionalTeam driving INOX towardsExcellence Deepak Acharya CEO • Joined the Company in 1992 • BE Mechanical from NIT Nagpur.ME Mechanical from IIT,Roorkee • 35+ years of experience in business operations, strategic planning, business management, product development, technologytransfer& due diligence. • Member of the Board of International Institute of Welding. • Joined the Company in 1993 • Bachelor’sdegree in commerce from Rajasthan University • Certified Chartered Accountant and Company Secretary • 35+ years of experience in accounts and taxation Pavan Logar CFO Vijay Kalaria Global Marketing Head -LNG • Joined the Company in 1997 • Bachelor’sdegree in Engineeringfrom SardarPatel University • 35+ years of experience in marketing& Sales Savir Julka Global Marketing Head -IG • Joined the Company in 1997 • Bachelor’sdegree in mechanical engineering from Maharaja Sayajirao Universityof Vadodara • 30+ years of experience in marketing Sudhir Sethi Chief People Officer & Legal Head • Joined the Company in 2007 • Bachelor’sdegree in Science (Physics) • Masters’degree in social welfarefrom Maharaja SayajiraoUniversityof Vadodara • 35+ years of experience in human resources management Tushar Zope Chief Technology Officer • Joined the Company in 2024 • Bachelor’sin PetrochemicalEngineering from MaharashtraInstitute of Technology • Holds 33+ years of global expertise in process plant engineering and project management across refineries,petrochemicals, hydrogenand air separation 38
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Investor Presentation Q1FY27 Resilient to Ride through the Sector’s Growth Cycle Resilientto Ride through the Sector’sGrowth Cycle Multiple Geographies Multiple Sectors Multiple Products A Good Multiple Serving Global Markets • Europe • North & South America • Asia • Middle East & Africa • Oceania Diverse Industries from • Steel to Space • Construction to CryoScientifics • Healthcare to Hydrogen • Medical to Mining • Paper ToPower Wide Array of Products • Storage and Bulk Tanks • Vaporizers,Oil and Gas Equipment • LNG Satellite Stations • Cryo-distribution Systems,etc. • Engineered Package System • Cryo-Preservation 39
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Investor Presentation Q1FY27 Key Strengths Key Strengths Leading Cryogenic Solutions Provider • Largest supplier of cryogenic equipment in India • Moved up the value chain from 1 Litre upto 1 MlnL itre • Forayinto newer application areas Leading Cryogenic Solutions Provider • Multiple global approvaland certifications • Stringencyrelated to design, manufacturing key barriers to entry • Technicalexpertise and design customization involved Product Development and Engineering Focus • Design, engineering capabilities developed indigenously to achieve customization • Evolvedand achieved manufacturing prowess• In- house team of 450+ engineers Sizeable manufacturing infrastructure • 4 existing facilities • Effluenttreatment plant & sewage treatment plants • Captive 1.65 MW windmill in Gujarat generates power for the Kalol facility • Solar plant of 1 MW at Kalol plant Varied end-use applications • Increasingdemand from LNG due to varied applications in industrial heating, captive power generation • New applications like LCNG, locomotives& automotive fuel tank has boosted the demand profile Healthy financial performance • Debt-free and strong net worth; Savli plant funded from internal accruals • Strong liquidity and robust operationalcash flow to support growth & capex • Efficientworking capital cycle & local raw material procurement 40
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Investor Presentation Q1FY27 Growth Pillars Vision Growth Pillars & Vision Profitable Portfolio Growth Value Creation Thought leadership Market Leadership Resilient Revenues Manufacturing Infrastructure through comprehensive solutions by persistent innovation by introducing products ahead of demand via differentiated service poweredby a diverse product range advancing through constant upgradation Vision Tobe the world's best integratedcryogenic solutions enterprise with a leadership position across products and markets, exceeding customer and stakeholderexpectations GROW TH PIL LARS 41
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Investor Presentation Q1FY27 Safe Harbour Safe Harbour This presentation has been prepared by INOX India Limited solely to provide information about the Company to its stakeholders. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of the Company nor any of its respective affiliates, advisers or representatives, shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information contained in this presentation is only current as of its date. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements", including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal and social conditions in India. Please note that this presentation is based on the publicly available information including but not limited to Company’s website and Annual Reports. This communication is for general information purposes only, without regard to specific objectives, financial situations and needs of any particular person. Please note that investments in securities are subject to risks including loss of principal amount. This presentation does not constitute an offer or invitation to purchase or subscribe for any shares in the company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. 42
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Investor Presentation Q1FY27 INOX India LIMITED (ISIN: INE616N01034;NSE: INOXINDIA;BSE: 544046) REGISTERED& CORPORATEOFFICE: 9th Floor,K P Platina, Racecourse, Vadodara-390007,Gujarat, India www.inoxcva.com SUNIL LAVATI InvestorRelations Officer E: acctir.in@inoxcva.com Investor Presentation Q3FY26 DEVIKA SHAH & SUMIT KINIKAR Investor Relations E: sumit.kinikar@adfactorspr.com devika.shah@adfactorspr.com 43
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A N I N O X G R O U P C O M P A N Y Thank You Thank You 44