Cryogenic OGS lands ₹12.59 cr order, 31% of FY26 revenue, via new solar subsidiary
A first win for Infravolt Engineering, incorporated in early 2026. The single contract from Fimer India is nearly a third of the group's last full-year revenue.
— 1 earlier story on Cryogenic OGS Ltd. →What's new
- Subsidiary Infravolt Engineering secured a ₹12.59 cr contract to supply busbar kits for solar inverters.
- The client is Fimer India, a global renewable energy equipment manufacturer.
- Execution is scheduled within 18-21 weeks.
Why this matters
This is a material pivot for a ₹311 cr market-cap company. The order from an international counterparty validates the new subsidiary's manufacturing capability and provides substantial revenue visibility for the current fiscal year. For a firm rooted in oil and gas equipment, this is the first concrete proof that its diversification into renewables is real.
What we're watching
- Execution timeline and revenue recognition on the Fimer contract.
- Whether Infravolt can replicate this win with other solar inverter OEMs.
- Impact on Cryogenic's consolidated margins given the new product line.
The full read
Cryogenic OGS is a ₹311 crore market-cap company best known for oil and gas equipment. It just landed its biggest contract in years through Infravolt Engineering, a 51%-owned subsidiary formed only in early 2026. The ₹12.59 crore order from Fimer India, a global solar inverter maker, is for busbar kits. That single contract equals 30.8% of the entire group's FY26 revenue of ₹40.82 crore. Execution is due within 18-21 weeks. For a nano-cap trying to prove it can do more than sell meters to oil companies, this is the first hard number from the new strategy. The question now is whether Infravolt can repeat the feat or whether this is one big order that flatters a small base.
Questions answered
- Why is this order significant for Cryogenic OGS?
- The ₹12.59 crore contract equals roughly 30.8% of the entire group's FY26 revenue of ₹40.82 crore. For a company with a ₹311 crore market cap, this single order materially changes its revenue outlook for the current year.
- Who is Infravolt Engineering, and what did it do?
- Infravolt is Cryogenic's 51%-owned subsidiary, incorporated in early 2026. This Fimer contract is its first major business win since formation.
- What does Cryogenic actually have to deliver?
- The company will supply precision-engineered busbar kits for solar inverters. The order must be executed within 18 to 21 weeks.
- What does this say about Cryogenic's strategy?
- It marks the company's first tangible step beyond its traditional metering and filtering equipment business in the oil and gas sector. The contract with a global renewable energy manufacturer like Fimer is a proof-of-concept for this diversification.
Story so far
All notes on CRYOGENIC →- 3 Jun 2026 · 1:24 PM IST Cryogenic OGS lands ₹12.59 cr order, 31% of FY26 revenue, via new solar subsidiary
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