India's Most Valuable Companies 2023 edition · Source: Hurun India
Rank#127- Valuation
- ₹35,000 Cr
2022 #184 2021 #248
Revenue · FY 2025
₹3,048.64 Cr
▲ 10% YoY
Net profit · FY 2025
₹880.94 Cr
Net margin 28.9%
EBITDA · FY 2025
₹1,517.61 Cr
EBITDA margin 49.8%
Authorised capital
₹46 Cr
Registered with MCA
Paid-up capital
₹10.34 Cr
Issued & subscribed
Open charges
₹2,000 Cr
Satisfied ₹2,808.18 Cr
Company age
63 yrs
Est. 1963
Employees · EPFO
1,870
Provident fund records
About Inox Air Products Private Limited
Data last updated:
Inox Air Products Private Limited is a private limited company based in Navi Mumbai, Maharashtra, India. It operates in the industrial and specialty gases segment of the chemicals and materials sector. It was incorporated on 04 April 1963 and has been in existence for over 63 years.
Its director Pavan Kumar Jain and family are #147 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U24999MH1963PTC012625. Its GSTIN is 27AAACI5569D1ZK (Maharashtra). The company holds 20 GST registrations, of which 15 are active.
The company has an authorised share capital of ₹46 Cr and a paid-up capital of ₹10.34 Cr. It was formerly known as Industrial Oxygen Company Limited and Inox Air Products Limited. It is led by directors including Siddharth Jain (Managing Director) and Subodh Kumar Jain.
Its last annual general meeting (AGM) was held on 25 September 2024, and its latest financial statements are for the year ended 31 March 2025. The registered office is at A – 2 Ttc Industrial Area Off Thane Belapur Road Pawane, Navi Mumbai, Maharashtra, India – 400710.
As per the financials filed for FY 2025, the company reported a revenue of ₹3,048.64 Cr, a growth of 10% compared to the previous year. For the same year it recorded a net profit of ₹880.94 Cr (net margin 28.9%) and EBITDA of ₹1,517.61 Cr (EBITDA margin 49.8%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 13% over five years.
The company has about 1,870 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Industrial Oxygen Company Limited. As per MCA filings, the company has open charges of ₹2,000 Cr and satisfied charges of ₹2,808.18 Cr on record. Court records list 345 cases involving the company, including 224 filed by the company and 123 filed against it; 49 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website inoxairproducts.com.
Company details
CIN U24999MH1963PTC012625
Registration Number 012625
Incorporation Date 04 April 1963
ROC Mumbai
Listing Status Unlisted
Company Status Active
Compliance Status Active Compliant
Name history
Inox Air Products has undergone 3 name changes throughout its history. The company was previously known as Industrial Oxygen Company Limited, Inox Air Products Limited, and Industrial Oxygen Company Private Limited. The current legal name is Inox Air Products Private Limited.
| Company Name | Status |
|---|---|
| Inox Air Products Private Limited | Current |
| Industrial Oxygen Company Limited | Previous |
| Inox Air Products Limited | Previous |
| Industrial Oxygen Company Private Limited | Previous |
CIN history
Inox Air Products has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U24999MH1963PTC012625, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U24999MH1963PTC012625 | Current |
| U24999MH1963PLC012625 | Previous |
| L24999MH1963PLC012625 | Previous |
Recognitions & Rankings of Inox Air Products
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #147 Pavan Kumar Jain & family ₹24,700 Cr
Contact details
Inox Air Products Private Limited's registered office is in Navi Mumbai, Maharashtra. Its website is inoxairproducts.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressA – 2 Ttc Industrial Area Off Thane Belapur Road Pawane, Navi Mumbai, Maharashtra, India – 400710
- IndustryChemicals and Materials, Industrial & Specialty Gases
To see the full contact details of Inox Air Products Private Limited, buy the company report.
Comprehensive company report
Inox Air Products Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Inox Air Products operates one associated brand: Industrial Oxygen Company Limited. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Industrial and medical gases supply in India. | inoxairproducts.com |
Business activity
The main business activities of Inox Air Products are manufacturing and support service to organizations. In detail, this covers manufacture of chemicals and chemical products and rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | 20 | Manufacture of chemicals and chemical products | |
| N | Support service to Organizations | N1 | Rental and leasing of motor vehicles, machinery, equipment, capital goods, etc. activities |
To see the full business activity and turnover split of Inox Air Products Private Limited, buy the company report.
Financials of Inox Air Products Private Limited
FY 2025 filings availableInox Air Products Private Limited reported revenue of ₹3,048.64 Cr (up 10% YoY) for FY 2025.
Revenue · FY 2025
₹3,048.64 Cr ▲ 10%
Net profit · FY 2025
₹880.94 Cr margin 28.9%
EBITDA · FY 2025
₹1,517.61 Cr margin 49.8%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 10%
3 years · compounded
▲ 11%
5 years · compounded
▲ 13%
EBITDA CAGR growth
1 year
▲ 14%
3 years · compounded
▲ 13%
5 years · compounded
▲ 19%
Revenue has grown at a compounded annual rate (CAGR) of 13% over five years, including 10% growth in the latest year. EBITDA rose 14% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹3,048.64 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹1,517.61 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹880.94 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 49.8% | ||||
| Net Profit Margin | 28.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Inox Air Products Private Limited, buy the company report.
Board of directors and KMP of Inox Air Products Private Limited
Inox Air Products Private Limited currently reports 6 directors and 1 key managerial person. 23 former directors have served the organization.
Current Directors and KMP
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Subodh Kumar Jain Also directs: South Asia Gas Enterprise Private Limited, PHD Chamber of Commerce and Industry, Siddhomal Air Products Private Limited and 2 more | Director | 17 Jul 1976 | 50 Years 3 Months | Current |
| Pavan Jain | Director | 17 Oct 2004 | 22 Years 0 Months | Current |
| Siddharth Jain | Managing Director | 01 Apr 2008 | 18 Years 7 Months | Current |
| Juan Miguel Gonzalez Barboteo | Director | 19 Oct 2022 | 4 Years 0 Months | Current |
| Melissa Narewski Schaeffer | Nominee Director | 04 Aug 2021 | 5 Years 3 Months | Current |
| Ahmed Hababou Also directs: Prodair Air Products India Private Limited | Director | 27 Jul 2023 | 3 Years 3 Months | Current |
Showing 6 of 7 current directors and KMP. View all directors and KMP
Peer comparison
Inox Air Products Private Limited is compared with the 4 companies closest to it by revenue in the Chemicals industry (Industrial Gases), with the same principal business activity (manufacture of chemicals and chemical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| India Glycols Limited | ₹9,053.5 Cr (FY 2025) | 14.0% | Udham Singh Nagar, Uttarakhand, India | |||
| Inox Air Products Private Limitedthis company | ₹3,048.64 Cr (FY 2025) | ₹880.94 Cr | 28.9% | 10.0% | 1,870 | Navi Mumbai, Maharashtra, India |
| Praxair India Private Limited | ₹2,770.71 Cr (FY 2025) | 1.0% | Sriperumbudur, Tamil Nadu, India | |||
| Linde India Limited | ₹2,553.22 Cr (FY 2025) | -10.0% | Kolkata, West Bengal, India | |||
| Navin Fluorine International Limited | ₹2,393.11 Cr (FY 2025) | 13.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Inox Air Products Private Limited, buy the company report.
Auditor
Inox Air Products Private Limited is audited by Patankar & Associates for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Patankar & Associates | FY 2023 | 107628W |
Shareholding
The shareholding of Inox Air Products Private Limited is on record for 5 financial years, the latest being FY 2025, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Inox Air Products Private Limited, buy the company report.
Charges & borrowings
Open charges
₹2,000 Cr
Satisfied charges
₹2,808.18 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Mar 2025 | 101079567 | Axis Bank Limited | ₹500 Cr | Open | |
| 24 Aug 2023 | 100777315 | Axis Bank Limited | ₹350 Cr | Open | |
| 28 Jul 2023 | 100756022 | Hdfc Bank Limited | ₹650 Cr | Open | |
| 26 Dec 2022 | 100664281 | Citi Bank N.A. | ₹200 Cr | Open | |
| 25 May 2022 | 100578904 | Hdfc Bank Limited | ₹100 Cr | Open |
To see the full charge records of Inox Air Products Private Limited, buy the company report.
Total charge records: 94 View all charges
Legal cases
Inox Air Products Private Limited has 345 court cases on record: 224 filed by Inox Air Products, 123 filed against it. 49 cases are pending and 296 are disposed.
Total cases
345
Filed by the company
224
Filed against the company
123
Pending
49
Disposed
296
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 205 | 55 | 33 |
| District courts | 88 | 31 | 12 |
| Supreme Court | 44 | 32 | 3 |
| NCLAT | 5 | 5 | 1 |
| NCLT | 3 | 0 | 0 |
Cases on record (5 of 345)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Madras High Court | Court case (OSA(CAD)) | Filed against the company by Steel Authority of India Limited | Pending |
| Madras High Court | Interim or miscellaneous application | Filed against the company by Steel Authority of India Limited | Pending |
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Maharashtra State Electricity Distribution Company Limited and 2 others | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against Leap India Brandhub Services Private Limited | Pending |
| Bombay High Court | Writ petition | Filed by the company against Maharashtra State Electricity Distribution Company Limited and 2 others | Pending |
To see the full case history of Inox Air Products Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Inox Air Products Private Limited was last rated by Care on 07 Apr 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 07 Apr 2022 |
To see the full credit ratings and regulatory alerts of Inox Air Products Private Limited, buy the company report.
MSME payment delays
Inox Air Products Private Limited has 17 MSME Form 1 returns on record between 2019 and 2024, listing 274 overdue payments to 79 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 79)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| SG Corporation | |||
| Winzuar Technologies | |||
| an individual supplier |
To see the full MSME payment records of Inox Air Products Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Inox Air Products has 1 joint venture. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Joint ventures
Employees & EPFO
Inox Air Products Private Limited has a workforce of 1,870 employees on its EPFO records as of May 2026, across 26 active EPFO establishments.
Employee count
1,870
Active EPFO establishments
26
Employee growth
7.3%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 1,870 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 | |
| FY 2013-14 |
To see the full employee and EPFO history of Inox Air Products Private Limited, buy the company report.
GST
Inox Air Products has 20 GST registrations: 15 active and 5 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
20
Active
15
Cancelled / inactive
5
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACI5569D1ZK | Maharashtra | Active | 01 Jul 2017 |
| 02AAACI5569D1ZW | Himachal Pradesh | Active | 01 Jul 2017 |
| 03AAACI5569D1ZU | Punjab | Active | 01 Jul 2017 |
| 08AAACI5569D1ZK | Rajasthan | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Inox Air Products Private Limited, buy the company report.
Recent activity
Inox Air Products Private Limited has 49 board changes on record since 1976: 28 appointments and 21 cessations. The latest: Ahmed Hababou was appointed as Director on 27 Jul 2023.
Charges
A charge with Hdfc Bank Limited of Rs. 650.00 Cr registered on 28 Jul 2023 with Charge ID 100756022 was modified on 18 Jul 2025.
Charges
A charge registered on 03 Jun 2021 via Charge ID 100452751 with Hdfc Bank Limited was fully satisfied on 20 May 2025.
Filing
Inox Air Products Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge with Axis Bank Limited amounted to Rs. 500.00 Cr with Charge ID 101079567 was registered on 27 Mar 2025.
AGM
Inox Air Products Private Limited last Annual general meeting of members was held on 25 Sep 2024 as per latest MCA records.
Charges
A charge registered on 28 Mar 2014 via Charge ID 10488969 with Others was fully satisfied on 03 Jan 2024.
Charges
A charge with Axis Bank Limited amounted to Rs. 350.00 Cr with Charge ID 100777315 was registered on 24 Aug 2023.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 650.00 Cr with Charge ID 100756022 was registered on 28 Jul 2023.
Appointed
Ahmed Hababou was appointed as Director.
Ceased
Samir Jawdat Serhan ceased to be Nominee Director.
Appointed
Sandeep Ganesh Divekar was appointed as CFO.
Ceased
Surendra Choudhary ceased to be CFO.
255 earlier events are in the company report.
News
Frequently asked questions
Inox Air Products is an active private limited company based in Navi Mumbai, Maharashtra, India. The company works in industrial and specialty gases, within the chemicals and materials industry. It was incorporated on 04 April 1963 (63+ years old) and is registered under CIN U24999MH1963PTC012625.
Inox Air Products has 7 current directors and KMP:
- Siddharth Jain - Managing Director
- Subodh Kumar Jain - Director
- Pavan Jain - Director
- Juan Miguel Gonzalez Barboteo - Director
- Melissa Narewski Schaeffer - Nominee Director
- Ahmed Hababou - Director
- Sandeep Ganesh Divekar - Cfo
The latest financial statements of Inox Air Products on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 25 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Inox Air Products is 27AAACI5569D1ZK, registered in Maharashtra. The company has 20 GST registrations in all, of which 15 are active and 5 are cancelled or inactive. Other active GSTINs include 02AAACI5569D1ZW (Himachal Pradesh), 03AAACI5569D1ZU (Punjab), 08AAACI5569D1ZK (Rajasthan).
The CIN (Corporate Identification Number) of Inox Air Products is U24999MH1963PTC012625. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Inox Air Products has 345 court cases on record: 224 filed by the company and 123 filed against it. 49 are pending. Most are in the high courts.
Inox Air Products was incorporated on 04 April 1963, making it 63+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Inox Air Products by revenue are India Glycols Limited, Praxair India Private Limited, Linde India Limited, Navin Fluorine International Limited, all in the Chemicals industry (Industrial Gases), with the same principal business activity (manufacture of chemicals and chemical products).
Ahmed Hababou was appointed as Director on 27 Jul 2023. Samir Jawdat Serhan ceased to be Nominee Director on 27 Jul 2023. Sandeep Ganesh Divekar was appointed as CFO on 11 Jul 2023. Inox Air Products has 49 board changes on record in total.
Inox Air Products has 17 MSME Form 1 returns on record between 2019 and 2024, listing 274 overdue payments to 79 micro and small suppliers. The latest return was filed on 01 May 2024.
Inox Air Products can be reached through the website inoxairproducts.com. Its registered office is in Navi Mumbai, Maharashtra, India.
The registered office of Inox Air Products is at A – 2 Ttc Industrial Area Off Thane Belapur Road Pawane, Navi Mumbai, Maharashtra, India – 400710.
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