Capitaline

Results 12-Feb-23

Analysis

Ingersoll-Rand (India)

Sales up 30%, net up 68%

Standalone net sales (including other operating income) of Ingersoll-Rand (India) for the quarter ended Dec 2022 has increased 30.30% to Rs 319.22 crore. Operating profit margin has jumped from 16.01% to 20.51%, leading to 66.96% rise in operating profit to Rs 65.48 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.57% to 58.10%. Purchase of finished goods cost fell from 1.75% to 1.67%. Employee cost decreased from 10.42% to 9.47%. Other expenses fell from 10.17% to 9.63%. Other income up 36.58% to Rs 4.63 crore. PBIDT rose 64.54% to Rs 70.11 crore. Provision for interest up 187.18% to Rs 1.12 crore. PBDT rose 63.41% to Rs 68.99 crore. Provision for depreciation rose 15.66% to Rs 4.21 crore. Profit before tax grew 67.91% to Rs 64.78 crore. Provision for tax was expense of Rs 16.82 crore, compared to Rs 9.98 crore. Effective tax rate was 25.96% compared to 25.87%. Profit after tax rose 67.69% to Rs 47.96 crore.

Nine month performance

Net sales (including other operating income) of Ingersoll-Rand (India) has increased 23% to Rs 846.39 crore. Operating profit margin has jumped from 16.20% to 18.35%, leading to 39.28% rise in operating profit to Rs 155.28 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.02% to 59.94%. Purchase of finished goods cost fell from 1.79% to 1.75%. Employee cost decreased from 11.70% to 9.93%. Other expenses rose from 9.57% to 9.75%. Other income up 61.17% to Rs 14.94 crore. PBIDT rose 40.96% to Rs 170.22 crore. Provision for interest up 90.52% to Rs 2.21 crore. PBDT rose 40.48% to Rs 168.01 crore. Provision for depreciation rose 15.91% to Rs 12.02 crore. Profit before tax grew 42.81% to Rs 155.99 crore. Provision for tax was expense of Rs 40.46 crore, compared to Rs 28.31 crore. Effective tax rate was 25.94% compared to 25.92%. Profit after tax rose 42.77% to Rs 115.53 crore.

Promoters’ stake was 75.00% as of 31 December 2022 ,compared to 75.00% as of 31 December 2021 .

Ingersoll-Rand (India) : Standalone Results

	Quarter ended			Year to Date			Year ended
Particulars	202212	202112	Var.(%)	202212	202112	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	319.22	244.99	30.30	846.39	688.14	23.00	909.92	617.73	47.30
OPM (%)	20.51	16.01	450 bps	18.35	16.20	214 bps	16.70	17.92	-122 bps
OP	65.48	39.22	66.96	155.28	111.49	39.28	151.96	110.68	37.30
Other Inc.	4.63	3.39	36.58	14.94	9.27	61.17	13.05	13.05	0.00
PBIDT	70.11	42.61	64.54	170.22	120.76	40.96	165.01	123.73	33.36
Interest	1.12	0.39	187.18	2.21	1.16	90.52	2.55	1.69	50.89
PBDT	68.99	42.22	63.41	168.01	119.60	40.48	162.46	122.04	33.12
Depreciation	4.21	3.64	15.66	12.02	10.37	15.91	14.1	14.26	-1.12
PBT	64.78	38.58	67.91	155.99	109.23	42.81	148.36	107.78	37.65
PBT before EO	64.78	38.58	67.91	155.99	109.23	42.81	148.36	107.78	37.65
EO Income	0	0	-	0	0	-	0	0	-
PBT after EO	64.78	38.58	67.91	155.99	109.23	42.81	148.36	107.78	37.65
Taxation	16.82	9.98	68.54	40.46	28.31	42.92	38.21	35.43	7.85
PAT	47.96	28.6	67.69	115.53	80.92	42.77	110.15	72.35	52.25
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	47.96	28.6	67.69	115.53	80.92	42.77	110.15	72.35	52.25
EPS (Rs)*	15.19	9.06	67.69	36.60	25.63	42.77	34.89	22.92	52.25

* 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

Previous News

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

Ingersoll-Rand (India) to conduct board meeting
( Corporate News - 31-Jul-23 16:22 )

Ingersoll-Rand gains after OFS concludes successfully
( Hot Pursuit - 26-Nov-20 12:56 )

Ingersoll-Rand (India) to conduct board meeting
( Corporate News - 28-Jul-22 16:42 )

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

Ingersoll Rand (India)
( Results - Analysis 15-Feb-17 12:38 )

Ingersoll-Rand (India) standalone net profit rises 43.65% in the December 2021 quarter
( Results - Announcements 09-Feb-22 14:20 )

ITI Ltd leads gainers in 'A' group
( Hot Pursuit - 15-Jul-22 12:00 )

Ingersoll-Rand (India) standalone net profit declines 7.97% in the June 2019 quarter
( Results - Announcements 07-Aug-19 16:28 )

Ingersoll-Rand (India) standalone net profit rises 1.16% in the September 2019 quarter
( Results - Announcements 06-Nov-19 09:59 )

Ingersoll-Rand (India) announces change in registered office
( Corporate News - 20-May-16 13:25 )