Yearly performance

Sales for the period was down by 5% to Rs 705.62 crore. But with OPM contract by 30 bps to 14.0% the operating profit was down by 6% to Rs 98.76 crore. After accounting for lower other income, higher interest and higher depreciation, the PBT was down by 11% to Rs 114.03 crore. With taxation stand lower by 37% to Rs 29.44 crore, the PAT was up by 5% to Rs 84.59 crore.

Other developments

Ingersoll Rand Inc. (the ultimate holding company) along with Ingersoll Rand U.S. Holdco Inc. (the intermediate holding company and Ingersoll Rand Industrial U.S. Inc. the immediate holding company) had made an offer of Rs 642.63 per fully paid-up equityshare to the public shareholders of the Company to acquire upto 8207680 fully paid-up equityshares constituting 26% of the fullydiluted voting equity share capital on the Company. The Offer was mandatory in compliance with Regulations 3(1), 4 and 5(1) at the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations. 2011. The period for tendering of equity shares was between 22 June 2020 and 3 July 2020. Pursuant to the otter, Ingersoll Rand Inc. acquired 1741738 equity shares (equivalent to 5.52%) from the public shareholders of the Company. Consequently, the total Shareholding of promoter and promoter group nowstands at 79.52% of the total equity share capital of the Company up from about 74% pre offer.