This Cryogenic Technology Solutions Provider Becomes First Indian Company to Receive IATF 16949 Certification for Cryogenic Fuel Tanks
The company has a market cap of Rs 8,230 crore and has a good return on equity (ROE) track record: 3 Years ROE 30.6 per cent.
INOX India Limited (INOXCVA), a leading cryogenic technology solutions provider, has become the first Indian cryogenic equipment manufacturer to receive the IATF 16949 certification for cryogenic fuel tank manufacturing. This prestigious certification, issued by Bureau Veritas Certification, covers the design and manufacturing of vacuum-insulated cryogenic fuel tanks, marking a significant milestone for the company.
The IATF 16949 certification is a mandatory requirement for automotive OEM suppliers, and its attainment validates INOX India's dedication to the highest quality management standards within the automotive industry. This achievement positions INOX India as a pioneer, bridging the gap between cryogenic technology and automotive applications, particularly in the expanding LNG fuel tank sector in India. It also creates opportunities for INOX India to enter the global market for heavy-duty vehicle fuel tanks.
This certification reinforces INOX India's standing as a qualified supplier to automotive OEMs, unlocking new possibilities in the growing market for LNG-powered vehicles. It demonstrates the company's commitment to meeting the rigorous quality demands of the automotive sector while leveraging its expertise in cryogenic technology. The certification process involved a thorough audit of INOX India's facility in Kalol, Gujarat, and the certification covers all design and manufacturing processes without any exclusions, highlighting the company's comprehensive capabilities in this specialized area.
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About the Company
INOX India Limited (INOXCVA) is one of the largest manufacturers of Cryogenic Storage, Regas and Distribution Systems for LNG, Industrial Gases and Cryo-Scientific applications with operations in India, Brazil & Europe. The Company has an extensive user base, spread across more than 100 countries and is serviced by a network of after-sales support associates in 25 countries. The company is leading India’s efforts in the adoption of LNG for industrial and automotive purposes. The Company’s key strength lies in the design engineering, manufacturing, supply and commissioning of Cryogenic turnkey packaged systems
The company has a market cap of Rs 8,230 crore and has a good return on equity (ROE) track record: 3 Years ROE 30.6 per cent. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.