Cryogenic OGS lands second Fimer order, ₹5.27 cr for busbar kits
Repeat business from global solar inverter maker validates Infravolt's role in renewable supply chain; order represents over 10% of FY26 revenue.
— 2 earlier stories on Cryogenic OGS Ltd. →What's new
- Cryogenic's subsidiary Infravolt bags ₹5.27 cr busbar kit order from Fimer India.
- Second contract from the same buyer after ₹12.59 cr win, signaling deeper ties.
- Order exceeds materiality threshold for nano-cap; delivery due by 30 Nov 2026.
Why this matters
A repeat order from a global solar inverter leader validates Infravolt's manufacturing quality and Cryogenic's strategic pivot to renewables. While smaller than the first order, it adds high-visibility revenue (over 10% of FY26 sales) and reduces reliance on legacy oil and gas equipment.
What we're watching
- Whether Infravolt scales its order book beyond Fimer to other solar OEMs.
- Revenue contribution from the renewable segment in H2 FY27 and beyond.
- Impact on Cryogenic's margin profile as busbar kits likely carry different margins than core metering gear.
The full read
Cryogenic OGS has done it again. Its solar-components subsidiary Infravolt Engineering has secured a second busbar kit order from Fimer India, this time for ₹5.27 crore. That follows the ₹12.59 crore contract landed just weeks ago, a repeat win from a global solar inverter manufacturer that validates Infravolt's manufacturing credentials. For a nano-cap with FY26 revenue of ₹40.82 crore, ₹5.27 crore is material. The order pushes Cryogenic deeper into renewables, diversifying away from its legacy oil-and-gas metering business. The delivery deadline of November 2026 gives it a full year to execute. Still, the order is less than half the size of the first one, so the narrative is one of steady validation rather than a breakout. What changes from here is whether Infravolt can win business beyond Fimer.
Questions answered
- How does this order compare to the first one from Fimer?
- The earlier order was ₹12.59 cr, also for busbar kits. This ₹5.27 cr order is smaller but demonstrates sustained demand from the same global solar inverter manufacturer.
- What is the revenue impact relative to Cryogenic's size?
- The order is over 10% of FY26 revenue of ₹40.82 cr, making it material for this nano-cap. However, delivery is by Nov 2026, so revenue will likely be recognized in FY27.
- Does Cryogenic have other renewable energy orders?
- Yes, in addition to the two Fimer contracts, Infravolt has secured an order from Endress+Hauser India for ₹1.49 cr in May 2026, though that buyer is in automation, not specifically solar.
- What is Cryogenic's core business?
- Cryogenic OGS traditionally manufactures oil and gas metering and filtering equipment. The Fimer orders mark a strategic diversification into renewable energy components via its subsidiary Infravolt.
- How reliable is the order fulfillment timeline?
- The order is to be delivered by 30 November 2026, giving Cryogenic well over a year to execute. Given the repeat nature, production processes are likely already established from the first order.
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All notes on CRYOGENIC →- 8 Jul 2026 · 12:34 PM IST Cryogenic OGS lands second Fimer order, ₹5.27 cr for busbar kits
- 37d ago Cryogenic OGS lands ₹12.59 cr order, 31% of FY26 revenue, via new solar subsidiary
- 50d ago Cryogenic OGS lands ₹1.49 cr order from Endress+Hauser India