It is a leading cryogenic equipment manufacturer and specialises in making tanks. It offers end-to-end solutions for equipment and systems operating in cryogenic conditions.
- It is the largest Indian cryogenic equipment supplier by revenue. - Repeat customers accounted for 49 per cent of its FY23 revenue.
Its top 10 clients accounted for 47 per cent of FY23 revenue. - It has a high cash conversion cycle (147 days in FY23) and has to rely on debt for working capital requirements.
Is INOXCVA free from reliance on huge working capital for day-to-day affairs? No. The company's business affairs are working capital intensive.