Capitaline

Results 01-Jun-21

Analysis

Ingersoll-Rand (India)

Operating profit jump 156% on higher sales and higher OPM

Related Tables

Ingersoll-Rand India: Standalone Results

Standalone net sales (including other operating income) of Ingersoll-Rand (India) has increased 39% to Rs 187.32 crore. Operating profit margin has jumped from 11.6% to 21.3%, leading to 156% rise in operating profit to Rs 39.81 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 55.34% to 58.29%. Purchase of finished goods cost rose from 1.87% to 1.92%. Employee cost decreased from 19.42% to 12.85%. Other expenses fell from 11.99% to 5.82%. Other income fell 79.13% to Rs 3.26 crore. Provision for interest up 7% to Rs 0.93 crore. Provision for depreciation down 21% to Rs 3.34 crore. Profit before tax grew 49% to Rs 38.80 crore. Provision for tax was expense of Rs10.12 crore, a jump of 48%. Profit after tax rose 49% to Rs 26.02 crore. PPT was higher at Rs 2.66 crore compared to nil and thus the net-profit was up 35% to Rs 26.02 crore.

Yearly Performance

Net sales (including other operating income) has declined 12% to Rs 617.73 crore. Operating profit margin has jumped from 14.0% to 17.9%, leading to 12% rise in operating profit to Rs 110.68 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 54.62% to 57.51%. Purchase of finished goods cost rose from 1.86% to 1.99%. Employee cost decreased from 17.91% to 13.75%. Other expenses fell from 11.60% to 8.72%. Other income fell 64% to Rs 13.05 crore. Provision for interest fell 35% to Rs 1.69 crore. Provision for depreciation down 22% to Rs 14.26 crore. Profit before tax down 5% to Rs 107.78 crore. Provision for tax was expense of Rs28.08 crore, a fall of 8%. Profit after tax fell 5% to Rs79.70 crore. PPT was higher at Rs7.35 crore compared to a write back of Rs 1.10 crore and thus the net-profit was down 14% to Rs72.35 crore.

Other developments

In the current financial year, the Company has opted to avail benefit under Direct Tax Vivad se Vishwas Act, 2020 (‘VSV Act') to settle pending direct tax disputes for four assessment years. The Company filed the application under the VSV Act and the same has been approved by the tax authorities. A provision has been created for the disputed tax liability arrived as per the VSV Act/approval from tax authorities

Equity capital stood at Rs 31.57 crore as of 31 March 2021 to Rs 31.57 crore as of 31 March 2020. Per share face Value remained same at Rs 10.00.

Promoters' stake was 75.00% as of 31 March 2021,compared to 74.00% as of 31 March 2020.

Previous News

Ingersoll-Rand (India)
( Results - Analysis 26-May-23 20:25 )

Ingersoll-Rand slides after Q4 PAT drops 5% to Rs 64 cr
( Hot Pursuit - 28-May-24 16:35 )

Ingersoll-Rand (India)
( Results - Analysis 10-Aug-22 11:45 )

Volumes jump at Brigade Enterprises Ltd counter
( Hot Pursuit - 29-Feb-24 14:30 )

Ingersoll-Rand (India) to convene board meeting
( Corporate News - 17-May-24 12:38 )

Board of Ingersoll-Rand (India) recommends final dividend
( Corporate News - 28-May-24 16:34 )

Ingersoll-Rand (India) standalone net profit rises 35.38% in the March 2021 quarter
( Results - Announcements 31-May-21 18:07 )

Ingersoll-Rand (India) standalone net profit rises 42.24% in the September 2021 quarter
( Results - Announcements 13-Nov-21 08:17 )

Ingersoll-Rand (India) to discuss results
( Corporate News - 15-May-23 15:21 )

Ingersoll-Rand (India) to convene board meeting
( Corporate News - 24-May-21 12:55 )

Ingersoll-Rand (India) fixes record date for interim dividend
( Market Beat - Reports 16-Nov-22 19:26 )