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Ingersoll-Rand (India) (IRIL) is a 74% subsidiary of Ingersoll Rand Company, U.S. It has presence in India since 1921 and established its first manufacturing plant in the country in 1965 and became a public limited company in 1977.
Performance for the quarter ended March 2014
For the quarter ended June 2014, net sales of the company jumped 15% to Rs 147.18 crore. OPM fell by 20 basis points to 6.5% which saw OP growing 11% to Rs 9.56 crore.
With other income down by 14% to Rs 16.45 crore and interest costs up 84% to Rs 1.84 crore and depreciation up by 107% to Rs 3.43 crore, PBT stood at Rs 20.74 crore, up by 2%. After providing total tax of Rs 7.69 crore, up 17% PAT stood at Rs 13.05 crore, down 5%.
Performance for the year ended March 2014
For the year ended March 2014, net sales of the company was flat at Rs 578.72 crore. OPM was down by 70 bps to 7.8% resulting in a 9% fall in OP to Rs 45.29 crore. Other income was down by 8% to Rs 62.43 crore. Interest costs were up by 9% to Rs 1.19 crore. Depreciation was up by 56% to Rs 8.10 crore which resulted in a PBT being down by 11% to Rs 98.43 crore. After providing total tax of Rs 31.48 crore, down by 5%, PAT for March 2014 stood at Rs 66.95 crore, down by 14% YoY.
New manufacturing plant
New manufacturing plant at Chennai commenced production in May 2013
Valuation
The share price trades at Rs 603
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