In India Inox India Ltd, a known manufacturer of tanks has recently submitted initial paperwork for an IPO. The proposed offering will involve the sale of 22.11 million shares, by existing shareholders and promoters including Siddharth Jain and Pavan Kumar Jain. With their experience in the field, Inox specializes in providing solutions to various industries and operates several manufacturing facilities. Despite a decrease in EBITDA margin, there has been growth in revenue and net profit during FY23 accompanied by a reduction, in debt as of March 2023.
In a move, towards raising capital Inox India Ltd, a known manufacturer of cryogenic tanks has submitted preliminary documents to the Securities Exchange Board of India for a public offering.
The upcoming initial public offering (IPO) will focus on the sale of shares by the company’s existing shareholders and promoters amounting to a total of 22.11 million units. Siddharth Jain will contribute 10.44 million shares while Pavan Kumar Jain and Nayantara Jain will each offer 5 million shares. Ishita Jain will provide 1.2 million shares. Manju Jain will contribute 2.3 lakh shares.
Leading this offering as managers are ICICI Securities and Axis Capital.
With over three decades of experience in equipment manufacturing this Gujarat-based company has established itself as an industry leader. Their expertise covers a range of solutions for conditions such as tanks, equipment, and turnkey projects that serve various industries including industrial gases, LNG, healthcare, aviation, and more.
Furthermore, they are globally recognized for supplying equipment, for research endeavors while also being India’s exporter of cryogenic tanks.
The company operates three manufacturing facilities located in Kalol (Gujarat) Kandla SEZ (Gujarat) and Silvassa (Dādra and Nagar Haveli). During the year 2023, they had a capacity of 3,100 Equivalent Tank Units, which represents cryogenic storage tanks with a capacity of 10,000 liters. They also had 2.4 million cylinders. As of May 31, 2023, their confirmed orders were worth Rs 1,003.15 crore.
From a perspective, the company’s performance, in FY23 showed growth. The revenue recorded for the year reached Rs 965.90 crore indicating an increase compared to the previous year’s Rs 782.71 crore. Similarly, the net profit for the year amounted to Rs 152.71 crore showcasing growth from the years Rs 130.50 crore.
However, there was a decline in the EBITDA margin from 23.47 percent in the year to 22.62 percent in FY23. Notably as of March 2023, the company’s total debt stood at Rs 8.99 crore—a decrease, from years debt of Rs54.54 crore.
