Capitaline

Results 11-Aug-23

Analysis

Ingersoll-Rand (India)

Net jumps 67% facilitated by 730 bps expansion in OPM

Standalone net sales (including other operating income) of Ingersoll-Rand (India) for the quarter ended Jun 2023 has increased 11.46% to Rs 304.53 crore. Operating profit margin has jumped from 16.12% to 23.45%, leading to 62.11% rise in operating profit to Rs 71.41 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 56.63% to 55.83%. Purchase of finished goods cost fell from 6.44% to 2.51%. Employee cost decreased from 10.12% to 9.45%. Other expenses fell from 9.97% to 8.74%.

Other income up 53.66% to Rs 5.67 crore. PBIDT rose 61.46% to Rs 77.08 crore. Provision for interest fell 29.82% to Rs 0.4 crore.

PBDT rose 62.56% to Rs 76.68 crore. Provision for depreciation rose 13.58% to Rs 4.35 crore.

Profit before tax grew 66.89% to Rs 72.33 crore. Provision for tax was expense of Rs 18.6 crore, compared to Rs 11.23 crore. Effective tax rate was 25.72% compared to 25.91%.

Profit after tax rose 67.33% to Rs 53.73 crore.

Promoters’ stake was 75.00% as of 30 June 2023 ,compared to 75.00% as of 30 June 2022 .

Ingersoll-Rand (India) : Standalone Results

	Quarter ended			Year ended
Particulars	202306	202206	Var.(%)	202303	202203	Var.(%)
Net Sales (including other operating income)	304.53	273.23	11.46	1,150.79	909.92	26.47
OPM (%)	23.45	16.12	733 bps	21.36	16.65	470 bps
OP	71.41	44.05	62.11	245.76	151.54	62.18
Other Inc.	5.67	3.69	53.66	19.28	13.47	43.13
PBIDT	77.08	47.74	61.46	265.04	165.01	60.62
Interest	0.4	0.57	-29.82	2.41	2.55	-5.49
PBDT	76.68	47.17	62.56	262.63	162.46	61.66
Depreciation	4.35	3.83	13.58	16.33	14.1	15.82
PBT	72.33	43.34	66.89	246.3	148.36	66.02
PBT before EO	72.33	43.34	66.89	246.3	148.36	66.02
EO Income	0	0	-	0	0	-
PBT after EO	72.33	43.34	66.89	246.3	148.36	66.02
Taxation	18.6	11.23	65.63	63.66	38.21	66.61
PAT	53.73	32.11	67.33	182.64	110.15	65.81
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	53.73	32.11	67.33	182.64	110.15	65.81
EPS (Rs)*	17.02	10.17	67.33	57.86	34.89	65.81

* EPS is on current equity of Rs 31.57 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

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