In the stock market, the loudest stories are rarely the most rewarding. Sometimes, the real opportunities are hidden inside businesses that look boring, move slowly, and stay away from daily headlines. Transrail Lighting Ltd is one such company. It doesn’t sell apps. It doesn’t chase trends. It builds power lines, substations, and transmission infrastructure — the kind the world simply cannot function without. And quietly, it may be setting up a long-term compounding story. A Public Listing, Then Silence Transrail Lighting Limited entered the stock markets in December 2024 , backed by strong institutional demand and high investor interest. After listing, the stock rallied — and then something interesting happened. It stopped being exciting. Prices consolidated. Volumes cooled. Most short-term participants moved on. For long-term investors, this phase matters the most — because this is where fundamentals, not hype, start driving returns. What Does Transrail Actually Do? (In O...
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NEW IPO STOCK POTENTIAL TO MULTIBAGGER
Today we will discuss about INOX India, recently its IPO was launched. The company was listed on 21st December 2023. What does this company manufacture, which segment does it work in? Will it be able to make a multi-bagger in future or not? What are the factors that can trigger its future growth, what is its current growth rate, is it sustainable. Fundamentally and financially, there are some points which are very important to understand while deciding whether this company can become a multi-bagger from here. So that we can also take a good investment decision in such stocks.
INOX INDIA LIMITED: Incorporated in 1976, Inox India Limited offers solutions across the design, engineering. manufacturing, and installation of equipment and systems for cryogenic conditions Inox India specializes in supplying cryogenic equipment, particularly tanks. The company offers comprehensive solutions for equipment and systems operating in cryogenic conditions.
PRODUCT SEGMENTS
Industrial Gas LNG
1.Storage Tanks 1.Industrial Applications
2.Transport Tanks 2.Mini LNG Infrastructure
3.Microbulk Units 3.High Horse Power Applications
4.Vaporizers & piping 4.Automotive Applications
5. Oil & Gas Equipment 5.LNG
Cryo- Scientific Cryo Bio
1.Satellite & Launch Facilities 1.Cryoseal
2.Cryogenic propulsion System & Research 2.Bio-Series Containers
3.Cryogenic Process Technologies 3.Low-Pressure Storage Tanks
4.Fusion (ITER) & Superconductivity
Cylinders For Gases Beverage Kegs
1.Refrigerants 1 Beverage Keg
2.LPG/Propane
3.Helium Balloon Cylinders
BUSINESS DIVISON:-
1. INDUSTRIAL GAS (71% OF FY23 REVENUE) - The division designs, manufactures, and installs cryogenic tanks and systems for the storage, transportation, and distribution of industrial gases, including green hydrogen and oxygen.
2. LNG (25% OF FY23 REVENUE) - The division develops, manufactures, supplies, and installs both standard and engineered equipment for LNG storage, distribution, and transportation, as well as small-scale LNG infrastructure solutions for industrial, marine. and automotive applications.
3. CRYO SCIENTIFIC (4% OF FY23 REVENUE) - This division offers equipment and turnkey solutions for scientific and industrial research in the field of cryogenic distribution with a focus on technology-intensive applications.
MANUFACTURING FACILITIES: Co. has three manufacturing facilities located at
i) Kalol in Gujarat
ii) The Kandla Special Economic Zone (Kandla SEZ) in Gujarat, and
iii) Silvassa in Dadra and Nagar Haveli. The installed capacity of cryogenic tanks is 3.100 Equivalent Tank Units and disposable cylinders were 2.4 million numbers in FY2023.
INTERNATIONAL PRESENCE: The company exports its products and services to 66 countries including some key geographies such as the United States, Saudi Arabia, Netherlands, Brazil, Korea, United Arab Emirates, Australia, and Bangladesh.
GEOGRAPHICAL REVENUE BIFURCATION:- Exports accounted for 45.83% of HIFY24 revenue.
USA-15.89%,
Norway -3.46%,
Saudi Arabia- 2.85%,
Japan -2.53%,
others - 21.11%
CUSTOMERS SERVED :- Co. supplied its equipment and systems to 1,255 domestic and 254 international customers in our three business segments over the last three years.
CLIENTELLE: Air Liquide Global E&C Solutions India Private Limited, Caribbean LNG Inc. 2G Energy Inc. ISRO, Hyundai Engineering and Construction Co Ltd, etc.
STRONG ORDER BOOK: As of September 2023, company's order book stood at Rs.1036 Crs. Of the order book.
52.8% are for the Industrial Gas division.
25.2% for the LNG division, and
22% for the Cryo Scientific division.
PROS:
• Company has reduced debt.
• Company is almost debt free.
• Company has a good return on equity (ROE) track record: 3 Years ROE 29.3%.
• Company has been maintaining a healthy dividend payout of 28.2%.
• Company's working capital requirements have reduced from 37.3 days to 29.1 days.
LISTING DATE: 26th Dec 2023
ISSUE PRICE: 660 Per Equity Share
HIGH: Created On Listing Day 990 With 50% Gain
CURRENT PRICE-902 MARKET CAP - 8265CR.
HIGH/LOW- 990/855
STOCK PE -54 INDUSTRY PE-24.9
DIVIDEND YIELD-NA
ROCE- 37.2% ROE28.8%
EPS 16.8
FACE VALUE- 2.00 PROMOTER HOLDING-75%
PUBLIC HOLDING-13.4%
FII HOLDING -4.06% DII Holding -7.57%
QUICK RATIO - 0.85
SALES - 966CR. NPM LAST YEAR -15.7%
CURRENT RATIO - 1.55
DEBT - 42.7CR. RESERVE- 536CR.
If we look at cryogenic equipment manufacturing industries globally, the global valuation of these industries in 2021-2022 was around 6 billion dollars. The growth rate of this industry is expected to be around 6 percent in the coming 6 years, its total valuation can reach 9 to 10 billion dollars. The global agency also believes that the South East Asia region will have a huge contribution in this overall growth.
DISCLAIMER:-