INOXINDIA: Q2 revenue grew 26.6% as backlog reached a record ₹2,268 crore

What happened

Q2 FY27 revenue rose 26.6% year over year to ₹467 crore and profit after tax increased 7.8% to ₹66 crore. Record backlog reached ₹2,268 crore, supported by ₹1,028 crore of quarterly order inflows and ₹1,628 crore of export orders.

Confirmed

Global impact / market context

A record backlog of ₹2,268 crore gives the company visibility on future revenue because orders already won convert into sales over coming quarters. Profit grew slower than revenue, which means costs rose faster than sales and profit per sale narrowed.

Analyst inference

The results mix strong sales growth with weaker profit growth, so investors weigh order intake of ₹1,028 crore and export orders of ₹1,628 crore against pressure on profitability. Backlog converts to revenue only if execution and input costs stay under control.

Analyst inference

What to watch

1. The company reported ₹1,028 crore of quarterly order inflows and a record ₹2,268 crore backlog, so watch whether future updates show this backlog converting into revenue. Confirmed
2. Management could explain why profit after tax rose only 7.8% while revenue rose 26.6%, and whether cost increases that narrowed profit per sale are expected to continue. Proposed
3. Watch whether export orders of ₹1,628 crore translate into sales without delays or higher costs, since shipping and input expenses affect cash available to the business. Analyst inference

Evidence

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