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With OPM up by 450 bps to 8.1% Ingersoll Rand (India) reported a 159% increase in OP to Rs 15.64 crore, on a net sales growth of 15% to Rs 192.71 crore. The other income was down by 19% to Rs 13.30 crore. Interest cost stood at Rs 0.18 crore and depreciation costs were higher by 61% on YoY basis, to Rs 2.97 crore. PBT growth stood at 28% at Rs 25.79 crore. After providing total tax of Rs 8.84 crore, up by 27% YoY, PAT for Dec'14 quarter stood at Rs 16.95 crore, up by 29% YoY.
Notably OPM has jumped on a low base of just 3.6% in December 2013 quarter.
Performance for the nine months ended Dec 2014
For the nine months ended Dec 2014, net sales of the company stood at Rs 507.10 crore up by 14% YoY. OPM was up by 230 bps to 8.2% thus leading a 58% increase in OP to Rs 41.77 crore. Other income was down by 8% to Rs 44 crore. Interest costs and depreciation costs were up by 189% and 65% to Rs 2.20 crore and Rs 8.90 crore, thus restricting a PBT growth to 9% to Rs 74.67 crore. After providing total tax of Rs 26.15 crore, up by 15% YoY, PAT for the nine months ended Dec'14 stood at Rs 48.52 crore, up by 7% YoY.
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.
The promoter shareholding is around 74% as on Dec'14 and none of them are pledged.
Share price trades at Rs 890.
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