Ingersoll-Rand (India) Ltd.

•

irco.comBSE: 500210NSE: INGERRAND

Market Cap₹ 14,764 Cr.

Current Price

High / Low₹ 4,955 / 3,063

Stock P/E55.2

Book Value₹ 216

Price to Book18.11

Dividend Yield1.60 %

ROCE56.3 %

ROE42.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2017 • AS: 100.0%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 28.8% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 56.3%
Company has a good return on equity (ROE) track record: 3 Years ROE 41.9%
Company has delivered good sales growth of 17.6% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.00x)

CONS

Stock is trading at 18.1x its book value
Growth is decelerating - 3Y profit CAGR (11.9%) trails the 5Y trend (28.8%)
Expensive relative to growth - PEG of 4.6
Rich enterprise valuation - EV/EBITDA of 29.3x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsCompressors / Pumps

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ELGIEQUIP	618.90	43.79	19613.50	0.44	103.30	20.68	1062.20	22.56	24.39	14.79
2.	INGERRAND	4676.80	55.19	14763.72	1.60	70.46	19.46	379.46	20.34	56.31	23.78
3.	KIRLOSBROS	1849.00	39.32	14682.71	0.38	67.60	0.15	1104.90	12.86	19.79	10.56
4.	KSB	807.10	57.22	14046.71	0.55	57.20	-18.75	690.70	3.60	22.98	12.42
5.	KIRLPNU	724.35	35.80	9411.22	0.83	332.00	31.23	3031.00	7.60	28.95	15.04
6.	DYNAMATECH	11637.15	186.27	7903.30	0.09	20.79	93.04	424.81	14.53	8.88	12.97
7.	SHAKTIPUMP	468.20	27.21	5777.49	0.21	51.59	-46.72	858.67	37.94	23.76	9.65
8.	WPIL	428.20	24.66	4182.26	0.47	59.01	129.24	500.54	32.21	17.32	17.29
9.	OSWALPUMPS	282.40	9.60	3219.50	0.00	54.14	-42.82	473.56	-7.86	78.75	15.74
10.	YUKEN	1072.20	93.15	1456.48	0.14	5.21	28.60	134.33	28.48	7.59	11.01
11.	ROTO	65.48	44.54	1233.94	0.29	92.46	1368.32	755.96	1047.48	20.48	20.08
12.	LATTEYS	21.52	34.80	123.73	0.00	1.39	182.11	38.91	59.21	12.97	6.14

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	305	276	329	299	314	318	382	322	315	322	455	300	379
	233	211	254	225	235	243	279	239	241	246	341	231	294
Operating Profit	71	66	75	74	79	75	102	83	74	76	114	69	85
OPM %	23.45%	23.76%	22.72%	24.62%	25.20%	23.71%	26.84%	25.89%	23.54%	23.56%	25.08%	23.04%	22.44%
	6	6	4	16	9	10	8	12	10	9	-15	23	10
Interest	0	1	0	1	0	0	0	1	0	0	0	0	0
Depreciation	4	5	5	4	5	4	4	4	4	4	4	4	5
Profit before Tax	72	67	74	84	83	81	106	90	80	81	95	88	95
Tax %	25.72%	25.75%	25.87%	24.38%	25.73%	25.45%	26.70%	24.96%	25.87%	25.36%	24.40%	26.26%	25.82%
Net Profit	54	50	55	64	62	60	78	68	59	60	72	65	70
	17.02	15.75	17.45	20.23	19.60	19.12	24.60	21.43	18.68	19.12	22.77	20.53	22.32

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	620	615	739	706	618	910	1,151	1,198	1,336	1,392	1,457
	564	546	636	610	507	759	905	924	997	1,059	1,112
Operating Profit	56	69	103	96	111	151	246	274	339	333	344
OPM %	9.04%	11.25%	14.00%	13.60%	17.92%	16.57%	21.34%	22.87%	25.40%	23.94%	23.64%
	71	73	36	39	13	14	19	44	39	27	27
Interest	1	-2	0	3	2	3	2	2	1	2	1
Depreciation	12	13	11	18	14	14	16	18	17	15	16
Profit before Tax	114	132	127	114	108	148	246	298	360	343	359
Tax %	32.45%	32.48%	36.50%	25.82%	32.87%	25.76%	25.85%	25.38%	25.76%	25.44%	25.45%
Net Profit	77	89	81	85	72	110	183	222	268	256	268
EPS	24.48	28.16	25.64	26.80	22.92	34.89	57.86	70.45	84.74	81.10	—
Dividend Payout %	24.51%	738.70%	23.40%	104.48%	13.09%	57.32%	86.42%	99.37%	94.40%	92.47%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 18%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: 16%
5 Years:: 29%
3 Years:: 12%

STOCK PRICE CAGR

10 Years:: 20%
5 Years:: 36%
3 Years:: 13%
1 Year:: 18%

RETURN ON EQUITY

10 Years:: 25%
5 Years:: 36%
3 Years:: 42%
Last Year:: 42%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	32	32	32	32	32	32	32	32	32	32
	1,029	1,095	386	346	414	519	544	547	575	578
	0	1	1	4	7	7	5	12	15	12
Trade Payables	94	104	128	114	142	200	194	157	216	250
	50	53	51	57	75	77	83	99	91	117
Total Liabilities	1,204	1,284	598	552	671	835	858	846	929	990
	126	121	117	117	112	111	110	140	137	218
Capital Work in Progress	2	1	2	1	4	6	4	6	50	30
	87	78	90	79	95	161	162	175	173	215
	0	0	0	0	0	0	0	244	301	299
Cash & Bank	673	771	117	161	231	294	275	223	212	160
	316	313	271	194	229	264	306	59	56	68
Total Assets	1,204	1,284	598	552	671	835	858	846	929	990

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	152	119	78	142	105	115	210	207	265	274
Cash from Investing	141	93	100	59	-1	-5	-5	-34	-38	-69
Cash from Financing	-23	-23	-791	-125	-4	-13	-162	-225	-240	-255
	239	148	-655	43	71	63	-18	-53	-12	-51

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00
	1.62	1.53	2.31	1.88	1.45	1.31	1.16	1.30	1.28
	5.54	6.15	6.67	7.11	8.09	8.19	8.20	8.20	8.96
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	17.83	17.32	16.02	16.02	15.46	15.49	15.64	15.49	14.75

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-15

Shareholders meeting

2026-08-15 - AGM proceedings report, Report of Scrutinizer in Form No. MGT-13 together with Scrutinizer s Report on e-voting and Scrutinizer s Report on remote e-voting and e-voting at the Annual General Meeting also attached.

2026-08-14

General Updates

2026-08-14 - Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - 104th AGM

2026-08-14

General Updates

2026-08-14 - Ingersoll Rand (India) Limited has informed the Exchange about General Updates - Chairman Speech - 104th AGM

2026-08-14

Outcome of Board Meeting

2026-08-14 - Ingersoll Rand (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 14, 2026.

2026-08-13

Outcome of Board Meeting

2026-08-13 - Ingersoll Rand (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-07

Copy of Newspaper Publication

2026-08-07 - Ingersoll Rand (India) Limited has informed the Exchange about Copy of Newspaper Publication on the Board meeting publication

2026-07-30

Copy of Newspaper Publication

2026-07-30 - Ingersoll Rand (India) Limited has informed the Exchange about Copy of Newspaper Publication - E-voting of 104th AGM

2026-07-29

Structural Digital Database

2026-07-29 - Structured Digital Database Compliance Certificate - June 2026

2026-07-21

Retirement

2026-07-21 - Ingersoll Rand (India) Limited has informed the Exchange about Retirement of Mr. Sekhar Natarajan Effective July 26 2026

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