Inox Leasing and Finance Limited Unlisted Share – Company Overview
Inox Leasing and Finance Limited is a part of INOX Group. INOX Group is a diversified Conglomerate of India comprising activities including Manufacturing Industrial gases, Fluorochemicals, Cryogenic Equipment, LNG Storage and distribution Equipment, Wind Turbines, and renewable Energy. The group is also the owner of India’s fastest-growing multiplex chains.
Inox Leasing and Finance Limited is engaged in the business of financial services, investment in securities, bonds, and mutual funds, and also acts as a broker for mutual funds. However, the primary business of Inox Leasing And Finance Limited is to act as a finance company for industrial, commercial, and business operations by means of loans, leasing, and dealing in shares, and securities.
Inox Leasing Share Price, Share Details as of March 31, 2025
Inox Leasing Outstanding Shares: |
99,00,050 |
Face Value of Inox Leasing Share |
Rs. 10/- Per Equity Share |
ISIN of Inox Leasing Share |
INE608E01014 |
Lot Size of Inox Leasing Share |
50 |
Inox Leasing Share Price |
Best In Industry |
PAN Number of Inox Leasing |
AAACI1954L |
GST Number of Inox Leasing |
07AAACI1954L1ZG |
Incorporation Details of Inox Leasing and Finance Limited
CIN of Inox Leasing |
U65910HP1995PLC011680 |
Registration Date of Inox Leasing |
17th February 1995 |
Category/Sub-category of Inox Leasing |
Public Limited Company |
Inox Leasing Registered office address and contact details |
69, Jolly Maker Chambers 2, Nariman Point, Mumbai - 400021 Tel: +91 40323195 E-mail address: info@ilfl.co.in Website: www.ilfl.co.in |
Inox Leasing Registrar and Transfer Agent address and contact details |
Share transfer-related activities are carried out In-house by the Company. |
Principal Business Activities of Inox Leasing and Finance Limited
| Name and Description of main products/services | NIC Code of the product/service | % to total turnover of the Company |
| Investment activities | 6430 | 93.28% |
Board of Directors of Inox Leasing and Finance Limited
- D.K. Jain (Chairman)
- P.K. Jain (Managing Director)
- V.K. Jain (Director)
- Siddharth Jain (Director)
- Devansh Jain (Director)
Particulars of Subsidiary Companies of Inox Leasing
| Name of the Company | Subsidiary/Associate | % of shares held |
| GFL Limited | Subsidiary | 52.93% |
| Gujarat Fluorochemicals Limited | Subsidiary | 52.58% |
Shareholding Pattern of Inox Leasing and Finance Limited (As of 31-03-2025)
| S. No. | Shareholder’s Name | Number of shares | % of total Shares of the company |
| 1 | Promoters Holding | 96,31,795 | 97.29% |
| 2 | Public Shareholding | 2,68,255 | 2.71% |
| Total | 99,00,050 | 100.00% |
Industry Outlook
Inox Leasing and Finance Limited (ILFL), a systemically important NBFC, enters 2025–2027 after a weak FY 2024, with revenues down ~12% and PAT down ~38%, reflecting operational pressures. The near term (2025) will likely focus on stabilisation through tighter cost control and benefiting from India’s improving credit environment, aided by GST-led consumption growth. Medium term (2026) should see a turning point as the GFL demerger is expected to unlock shareholder value and provide strategic clarity, while rising demand in used-car financing (8–10% projected growth) and vehicle leasing opens new growth opportunities. By 2027, ILFL could be positioned for recovery and sustainable growth if it successfully leverages restructuring, manages costs, and capitalises on India’s expanding leasing and financing ecosystem.
Inox Leasing and Finance Limited Consolidated Balance Sheet (Rs in Lakhs)
| Particulars | 31-03-2025 | 31-03-2024 |
| Financial assets | ||
| Cash and cash equivalents | 7,630.45 | 4,386.04 |
| Bank balances other than above | 36,070.36 | 53,924.31 |
| Trade receivables | 3,79,723.55 | 1,88,201.16 |
| Loans | 34,594.43 | 28,087.77 |
| Investments | 82,877.60 | 458.41 |
| Investment at Equity Method | - | 86.04 |
| Other financial assets | 93,482.90 | 1,14,986.09 |
| Non-financial assets | ||
| Inventory | 3,17,205.52 | 2,81,612.45 |
| Current tax assets (Net) | 6,201.00 | 6,041.11 |
| Deferred tax assets (Net) | 35,595.05 | 42,192.43 |
| Investment Property | 322.04 | 330.11 |
| Property, Plant and Equipment | 5,99,943.92 | 5,59,363.94 |
| Capital Work in Progress | 1,82,016.27 | 1,39,531.02 |
| Intangible asset under development | 4,395.01 | 3,713.02 |
| Goodwill | 1,014.45 | 1,014.45 |
| Intangible asset | 28,619.26 | 27,574.37 |
| Right-of-use asset | 25,622.37 | 23,884.21 |
| Other non-financial assets | 96,685.11 | 83,002.92 |
| Non-current assets held for sale | - | 27,998.78 |
| Total Assets | 19,31,999.29 | 15,86,389.03 |
| Financial liabilities | ||
| Trade Payables | ||
| Total outstanding dues to micro and small enterprises | 7,776.59 | 5,887.36 |
| Total outstanding dues of creditors other than micro and small enterprises | 1,50,288.15 | 96,328.90 |
| Borrowings (Other than debt securities) | 2,660,012.56 | 287363.32 |
| Other financial liabilities | 72,789.09 | 1,11,215.47 |
| Non-financial liabilities | ||
| Current Tax Liabilities | 62.62 | 75.72 |
| Provisions | 10,496.49 | 8,748.42 |
| Deferred tax Liabilities (Net) | 24,814.28 | 27,330.84 |
| Other non-financial liabilities | 46,492.63 | 34,439.04 |
| Non-current liabilities held for sale | - | 16,969.13 |
| Equity | ||
| Equity Share Capital | 990.01 | 990.01 |
| Other equity | 5,82,513.95 | 4,66,611.31 |
| Non-Controlling Interests | 7,69,762.92 | 5,30,429.51 |
| Total Liabilities and Equity | 19,31,999.29 | 15,86,389.03 |
Inox Leasing and Finance Limited Consolidated Profit & Loss Statement (Rs in Lakhs)
| Particulars | 31-03-2025 | 31-03-2024 |
| Revenue | ||
| Sale of product | 7,60,781.29 | 5,20,778.42 |
| Sale of services | 37,307.37 | 35,478.28 |
| Interest income | 4,248.68 | 4,210.87 |
| Brokerage received | 77.31 | 77.27 |
| Profit/(Loss) attributable to change in fair value of Investment | 690.12 | -2,444.66 |
| Total Revenue from Operations | 8,03,104.77 | 5,57,793.29 |
| Other income | 38,022.14 | 30,047.81 |
| Total Revenue | 8,41,126.91 | 5,87,841.10 |
| Expenses | ||
| Cost of material consumed | 3,65,013.01 | 2,32,669.61 |
| Material extraction and processing cost | 3,266.75 | 3,269.86 |
| Change in stock | -16,765.41 | -13,345.39 |
| Finance costs | 30,239.06 | 33,990.94 |
| Power and fuel | 79,318.00 | 78,002.35 |
| Employees benefit expenses | 60,479.52 | 46,116.73 |
| Depreciation and amortisation expense | 53,804.46 | 39,957.81 |
| Other expenses | 1,41,872.07 | 1,09,647.24 |
| Total expenses | 7,17,227.46 | 5,30,309.15 |
| Share of loss of joint venture | -1 | -0.25 |
| Profit before tax and exceptional items | 1,23,898.45 | 57,531.70 |
| Exceptional items | -1,346.49 | -1,368.77 |
| Profit before tax | 1,22,551.96 | 56,162.93 |
| Current tax | 19,743.94 | 14,198.04 |
| Deferred tax charge/(benefits) | 7,906.52 | 2,461.72 |
| Taxes for earlier years | -24 | -218.28 |
| Profit for the year | 94,925.50 | 39,721.46 |
| Profit/(loss) from discontinued operations before tax | 0.89 | -579.00 |
| Tax expense on discontinued operations | -256.03 | -365.99 |
| Net profit | 95,182.42 | 35,508.45 |
| Other comprehensive income | ||
| Items that will not be reclassified to profit or loss: | ||
| Remeasurement profit/(loss) on defined benefit plans | -305.65 | -249.07 |
| Income tax relating to remeasurement profit/(loss) on defined benefit plans | 59.90 | 51.62 |
| Items that will be reclassified to profit or loss: | ||
| Exchange difference in translating financial statements of foreign operations | 1,225.00 | 494.66 |
| Other comprehensive profit for the year | 979.25 | 297.21 |
| Total comprehensive profit for the year | 96,161.67 | 39,805.65 |
| Profit/(loss) for the year attributable to: | ||
| - Owners of the Company | 37,570.84 | 22,723.63 |
| - Non-controlling interest | 57,611.58 | 16,784.81 |
| Other comprehensive income for the year attributable to: | ||
| - Owners of the Company | 544.73 | 140.99 |
| - Non-controlling interest | 434.52 | 156.22 |
| Total comprehensive income for the year attributable to: | ||
| - Owners of the Company | 38,115.58 | 24,183.78 |
| - Non-controlling interest | 58,046.10 | 16,941.03 |
| Basic and Diluted Earnings per equity share | 958.84 | 401.22 |
Inox Leasing and Finance Limited Consolidated Cash Flow Statement (Rs in Lakhs)
| Particulars | 31-03-2025 | 31-03-2024 |
| Cash Flow from Operating Activities | ||
| Profit after tax but before exceptional item | 1,23,898.45 | 57,531.71 |
| Adjustments for: | ||
| Depreciation and amortisation expense | 53,804.46 | 39,957.81 |
| Gain on deemed dilution of subsidiary | -121 | - |
| Share of loss of joint venture | -1 | -9.25 |
| Interest Income | -2,681.62 | -1,079.84 |
| Impairment loss on investment in Joint venture | 85 | - |
| Provision for expected credit loss | 6,635.44 | 20,890.20 |
| Actuarial Gain | -5.26 | -2.34 |
| Deposits and advances written off | 36 | 6 |
| Exchange difference on translation of assets and liabilities | 711 | 398 |
| Net Proceeds from sale/ redemption of investments | -8,283.82 | 10,155.20 |
| Purchase of Investment in group companies | -10,001.00 | -3,918.76 |
| Profit on retirement or disposal of fixed asstes | 66.44 | -3,646.75 |
| Unrealised foreign exchange gain (net) | -1,290.79 | -106.58 |
| Unrealised MTM (gain) on financial assets & derivatives | -238.95 | -173.55 |
| Finance Cost | 30,159.54 | 33,780.34 |
| Share based payment | 2,476.20 | - |
| Other Income | -91.00 | -21,250.15 |
| (Profit)/Loss attributable to change in fair value of Investment | -3,002.57 | -100.63 |
| Net (Gain)/ Loss on fair value changes of mutual fund/Shares | -690.12 | 2,444.66 |
| Net (Gain)/ Loss on sale of Investment | -214.49 | -2,335.02 |
| Operating profit before working capital changes | 1,91,250.90 | 1,32,550.06 |
| Changes in working capital | ||
| Changes in Inventory | -36,819.91 | -18,906.95 |
| Other loans | 8,244.71 | -27,521.15 |
| Other financial assets | 6,723.60 | 12,922.40 |
| Other non- financial assets | -99.92 | 0.90 |
| Trade receivables | -2,08,527.21 | -30,450.64 |
| Other financial liabilities | 42,497.55 | -12,504.70 |
| Non-current liabilities held for sale | 633.25 | - |
| Provisions | 1,039.13 | 1,255.65 |
| Trade payables | 68,614.89 | -18,595.38 |
| Other non- financial liabilities | 2,159.94 | 4,902.96 |
| Cash flow from operating activities post working capital changes | 75,716.98 | 43,653.19 |
| Income- tax paid | -20,031.76 | -23,796.66 |
| Net cash flow from operating activities | 55,685.22 | 19,856.54 |
| Cash Flow from Investing Activities | ||
| Additions in PPE, Investment Property and ROU (net) | -1,40,415.64 | -1,49,267.62 |
| Payments for acquiring intangible assets | -5,138.00 | -1,130.00 |
| Sale of assets under slump sale | 1,049.00 | 190.47 |
| Proceeds from sale of PPE, Investment Property and Intangible asset , WIP | 196.56 | 3,884.13 |
| Payments for acquiring right-of-use assets | -1,130.00 | -367.00 |
| Movement in bank deposits | 18,423.84 | -3,248.89 |
| Interest received | 1,665.60 | 7,095.01 |
| Purchase of investments | -2,82,523.91 | -15,623.95 |
| Proceeds from sale/ redemption of investments | 1,39,911.49 | 5,045.15 |
| Net cash used in investing activities | -2,67,961.00 | -1,53,422.71 |
| Cash Flow from Financing Activities | ||
| Proceeds from borrowings (net) | -43,781.33 | 73,548.09 |
| Dividend paid | -1,562.24 | -1,041.16 |
| Share issue Expenses | -800.84 | - |
| Money received against share warrants | 20,250.00 | -1,750.00 |
| Equity Share Premium | 70,347.87 | - |
| Finance Costs | -44,430.64 | -45,158.46 |
| Issue of Shares by subsidiaries company | 2,17,155.45 | 1,08,665.04 |
| Payment of lease liabilities | -1,658.00 | -898.03 |
| Net cash flow from financing activities | 2,15,520.26 | 1,33,365.48 |
| Increase in cash and cash equivalents | 3,244.41 | -200.69 |
| Cash and cash equivalents at the beginning of the year | 4,386.04 | 4,586.73 |
| Cash and cash equivalents at the end of the year | 7,630.45 | 4,386.04 |
Summary of the Cash Flow Statement for the years 2025 and 2024:
Operating Activities
In FY 2024–25, the company generated a strong operating profit before working capital changes of ₹1,91,251 lakhs, a notable rise compared to ₹1,32,550 lakhs in FY 2023–24. This improvement was driven by higher profitability, with profit after tax nearly doubling, supported by increased depreciation, finance costs, and share-based payments. However, significant working capital changes had a dampening effect, particularly the steep rise in trade receivables (₹2,08,527 lakhs), though partially offset by higher trade payables (₹68,615 lakhs) and other liabilities. After these adjustments, cash generated from operations stood at ₹75,717 lakhs, compared to ₹43,653 lakhs in the previous year. Post income-tax payments of ₹20,032 lakhs, the company achieved a net positive cash inflow from operations of ₹55,685 lakhs, nearly triple last year’s ₹19,857 lakhs, indicating improved core business efficiency despite heavy receivable build-up.
Investing Activities
The company maintained an aggressive investment cycle in FY 2024–25, with heavy cash outflows. Significant amounts were spent on property, plant, equipment, intangibles, and right-of-use assets, totaling more than ₹1,46,684 lakhs. Additionally, there was substantial investment in securities, with purchases worth ₹2,82,524 lakhs, though these were partly offset by proceeds from sales/redemptions of ₹1,39,911 lakhs. Overall, the company reported a steep net cash outflow of ₹2,67,961 lakhs from investing activities, compared to ₹1,53,423 lakhs in FY 2023–24. This reflects continued expansion and capital deployment but also highlights the pressure on liquidity from heavy investment spending.
Financing Activities
Financing activities provided a major boost in FY 2024–25, with a net cash inflow of ₹2,15,520 lakhs, substantially higher than ₹1,33,365 lakhs in the previous year. This was largely due to equity infusion and premium receipts—notably, issue of shares by subsidiaries (₹2,17,155 lakhs) and equity premium (₹70,348 lakhs). The company also raised funds via share warrants (₹20,250 lakhs). On the other hand, there were outflows from debt repayments (₹43,781 lakhs) and finance costs (₹44,431 lakhs), along with dividends and lease payments. The reliance on equity financing shows a strategic shift to strengthen the balance sheet while managing debt.
Net Cash Position
After combining all activities, the company recorded a modest overall increase in cash and cash equivalents of ₹3,244 lakhs in FY 2024–25, compared to a small decrease in the prior year. Cash balances rose to ₹7,630 lakhs at year-end, up from ₹4,386 lakhs.
A V Thomas International Limited Annual Report 2023-24
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