Ingersoll Rand (India) Limited (INGERRAND)
₹4,053.60 -1.08% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Ingersoll Rand's revenue was ₹379 Cr (+20.5% year on year, +26.5% on the previous quarter), and net profit ₹70.5 Cr (+19.4% year on year); the operating margin was 23.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹379 | +20.5% | +26.5% |
| Operating profit | ₹90.2 | +21.9% | +30.8% |
| Net profit | ₹70.5 | +19.4% | +8.4% |
| EPS (₹) | 22.32 | +19.5% | +8.7% |
| Operating margin | 23.8% | — | — |
INGERRAND delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 44.27% of the INGERRAND shares traded on NSE were taken to delivery, against the stock's own 20-session average of 49.83%. That is close to its usual level. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 49.2% · 58.8% · 58.0% · 42.5% · 44.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Ingersoll - Rand (India) Limited has issued a Postal Ballot Notice seeking shareholder approval for the appointment of Mr. Ajay Shriram Patil as an Independent Director for a 5-year term ending August 14, 2031. Remote e-voting begins on September 28, 2026, and concludes on October 27, 2026, based on the cut-off date of September 22, 2026. Mr. Patil brings extensive financial leadership experience, having previously served as Group CFO at Cummins India Ltd. This is a standard governance and board appointment procedure with no immediate impact on financial performance.
- Proposed appointment of Mr. Ajay Shriram Patil as Independent Director for a 5-year term ending August 14, 2031
- Remote e-voting window open from September 28, 2026 (9:00 AM IST) to October 27, 2026 (5:00 PM IST)
- Cut-off date for eligibility to vote established as September 22, 2026
- Results of the postal ballot to be declared within 48 hours of the conclusion of voting
Ingersoll-Rand (India) Limited shareholders approved all 6 ordinary resolutions at the 104th Annual General Meeting held on August 14, 2026. Key resolutions passed include the declaration of a final dividend of Rs 20 per equity share for FY26 and the approval of material related party transactions with Industrial Technologies and Services LLC (passed with 77.52% votes in favor among voting public shareholders). The reappointment of Director Gareth Robert Topping was also approved, despite 32.82% institutional dissent, with overall voter turnout standing at 83.55%.
- Approved final dividend of Rs 20 per equity share of face value Rs 10 for FY26 with 99.999% votes in favor
- Material Related Party Transactions with Industrial Technologies and Services LLC approved with 77.52% votes in favor
- Re-appointment of Director Gareth Robert Topping cleared with 96.26% total votes in favor (32.82% institutional dissent)
- Total voter turnout was 83.55% (26,375,831 votes polled out of 31,568,000 total shares across 38,753 shareholders)
At its 104th AGM, Ingersoll-Rand (India) reported that total income for the quarter ended June 30, 2026, rose 19.8% YoY to ₹389 crore, with profit after tax rising 19.5% YoY to ₹70 crore. For FY 2025-26, total income stood at ₹1,431 crore (up 4.1% YoY) while net profit was ₹256 crore (down 4.3% YoY). The Chairman confirmed that the new Sanand manufacturing facility has achieved full commercial commissioning, transitioning the business from infrastructure investment to operational execution. The company also launched 9 new products in FY26 and introduced the Champion brand for Tier-2 market penetration.
- Q1 (ended June 30, 2026) total income rose 19.8% YoY to INR 389 crores and PAT grew 19.5% YoY to INR 70 crores
- FY 2025-26 total income reached INR 1,431 crores (+4.1% YoY) with PAT at INR 256 crores (-4.3% YoY)
- Sanand manufacturing facility successfully commissioned and now fully operational
- 9 new products launched during FY 2025-26 alongside the introduction of the Champion brand for Tier-2 markets
- Allocated INR 6.11 crore across 18 CSR initiatives during FY 2025-26
Ingersoll Rand (India) reported a strong start to FY27 with Q1 revenue growing 19.8% YoY to ₹389 Cr and PAT rising 19.5% to ₹70 Cr. The company confirmed that its Sanand facility is now fully operational, marking a transition from infrastructure investment to operational value creation. This facility is central to the company's plan to expand capacity by 50% (from 10,000 to 15,000 units per month). Additionally, the company launched the 'Champion' brand to target the value segment in Tier-2 markets and introduced 9 new products during FY26.
- Q1 FY27 Total Income grew 19.8% YoY to ₹389 Cr compared to the previous year's corresponding quarter.
- Q1 FY27 Profit After Tax (PAT) increased 19.5% YoY to ₹70 Cr.
- Sanand facility is now fully operational, supporting the planned 50% capacity expansion to 15,000 units/month.
- Launched 9 new products in FY 2025-26 across manufacturing, textiles, pharma, and food & beverage sectors.
- Allocated ₹6.11 Cr toward 18 CSR initiatives in FY 2025-26, focusing on healthcare and education.
Ingersoll Rand (India) Limited has appointed Mr. Ajay Shriram Patil as an Additional Non-Executive Independent Director for a five-year term effective August 15, 2026. Mr. Patil, a global business leader with over 36 years of experience at firms like Cummins and Honeywell, will also chair the Audit Committee. This appointment follows the retirement of Mr. Sekhar Natarajan and has led to the reconstitution of five board committees, including Risk Management and NRC. The move ensures continuity in governance as the company manages its high-growth phase and capacity expansion.
- Appointment of Mr. Ajay Shriram Patil for a 5-year term starting August 15, 2026, until August 14, 2031.
- Mr. Patil brings over 36 years of leadership experience across multinational industrial and manufacturing organizations.
- Reconstitution of 5 board committees: Audit, NRC, Stakeholders Relationship, Risk Management, and CSR.
- Mr. Patil will serve as the Chairman of the Audit Committee, a critical oversight role for the Rs 14,548 Cr market cap company.
Ingersoll Rand (India) delivered a strong performance for Q1 FY27, with revenue from operations growing 20.3% YoY to Rs 379.46 Cr. Net profit increased by 19.5% YoY to Rs 70.46 Cr, while EPS rose to Rs 22.32 from Rs 18.68 in the year-ago period. Sequentially, revenue showed a significant jump of 26.6% over the March 2026 quarter. Despite a 25.3% increase in raw material costs, the company maintained healthy profitability in its core Air Solutions segment.
- Revenue from operations increased 20.3% YoY to Rs 379.46 Cr from Rs 315.32 Cr.
- Net profit grew 19.5% YoY to Rs 70.46 Cr compared to Rs 58.98 Cr in Q1 FY26.
- Quarterly EPS improved to Rs 22.32, up from Rs 18.68 in the corresponding previous quarter.
- Profit before tax (PBT) reached Rs 94.99 Cr, representing a 19.4% growth over the Rs 79.56 Cr reported in Q1 FY26.
- Cost of materials consumed rose to Rs 199.45 Cr, accounting for 52.6% of revenue versus 50.5% in the year-ago quarter.
Ingersoll Rand (India) Limited has filed its Structured Digital Database (SDD) compliance certificate for the quarter ended June 30, 2026. The company confirmed that it captured 1 event involving Unpublished Price Sensitive Information (UPSI) during the period, in full compliance with SEBI (Prohibition of Insider Trading) Regulations. The database is maintained internally with a non-tamperable audit trail capable of storing records for 8 years. No non-compliances were reported for the period.
- 1 event involving UPSI was captured in the database during the quarter ended June 30, 2026
- The database maintains an audit trail for a period of 8 years as per regulatory requirements
- Zero non-compliances were observed or reported for the previous quarter
- The system captures the nature of UPSI along with specific date and time stamps
Ingersoll Rand (India) has announced a leadership transition at the board level. Mr. Sekhar Natarajan will retire as Chairman and Independent Director on July 26, 2026, after completing a 10-year tenure as per statutory requirements. Mr. Sunil Khanduja has been appointed as the new Chairman effective July 27, 2026. This transition occurs as the company maintains a strong financial profile with a 23.9% OPM and executes a 50% capacity expansion in Gujarat.
- Mr. Sekhar Natarajan retires after a continuous 10-year period on the Board (two 5-year terms).
- Mr. Sunil Khanduja (DIN: 10041581) appointed as Chairman effective July 27, 2026.
- Outgoing Chairman ceases roles in 5 committees, including Audit and Risk Management.
- Company is currently scaling capacity from 10,000 to 15,000 units per month (50% increase).
Ingersoll Rand (India) has announced that Mr. Sekhar Natarajan will retire as Independent Director and Chairman effective July 26, 2026, upon completing his statutory 10-year limit. Mr. Sunil Khanduja has been appointed as the new Chairman of the Board effective July 27, 2026. This transition is a planned regulatory requirement under the Companies Act, 2013, as the outgoing Chairman served two consecutive 5-year terms. The company, which maintains a high ROCE of 57% and a market cap of Rs 14,295 Cr, will appoint a new Independent Director in due course.
- Mr. Sekhar Natarajan retires as Chairman effective July 26, 2026, after 10 years of service
- Mr. Sunil Khanduja appointed as the new Chairman effective July 27, 2026
- Outgoing Chairman served two terms of 5 years each, starting from July 27, 2016
- The Board meeting for these approvals concluded within 20 minutes (3:15 PM to 3:35 PM)
- A new Independent Director will be appointed to fill the vacancy within statutory deadlines
Ingersoll Rand (India) has fixed July 13, 2026, as the record date for its final dividend of ₹20 per share for the financial year ended March 31, 2026. This dividend represents a 200% payout on the face value of ₹10 per share. Based on the current market price of ₹4540, the dividend yield stands at approximately 0.44%. The payment is scheduled for August 24, 2026, following approval at the 104th Annual General Meeting.
- Final dividend recommended at ₹20 per equity share (200% of face value)
- Record date for determining eligibility is July 13, 2026
- Dividend payment date set for August 24, 2026
- Dividend payout represents approximately 24.7% of TTM EPS of ₹81.10
Ingersoll Rand (India) Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This is a standard regulatory procedure under SEBI (Prohibition of Insider Trading) Regulations for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the declaration of the quarterly financial results. The company currently maintains a strong financial profile with a TTM revenue of ₹1,392 cr and a high ROCE of 57.0%.
- Trading window closure effective from July 1, 2026, for all designated persons and their relatives.
- Closure is in relation to the financial results for the quarter ending June 30, 2026.
- The window will reopen 48 hours after the board meeting to approve the financial results.
- Company reported a TTM PAT of ₹256 cr and maintains an operating margin of 23.9%.
Ingersoll Rand (India) Limited has approved the appointment of M/s Govindraj Akshay & Associates as Secretarial Auditors for a five-year term from FY 2026-27 to FY 2030-31. The board also appointed M/s Diwanji & Co as Cost Auditors for the financial year 2026-27. These decisions were made during the board meeting held on May 29, 2026, and are subject to shareholder approval at the upcoming Annual General Meeting. This is a standard regulatory compliance update for the company.
- M/s Govindraj Akshay & Associates appointed as Secretarial Auditor for a 5-year block (2026-2031).
- M/s Diwanji & Co appointed as Cost Auditor for the 2026-27 financial year.
- Appointments are subject to shareholder approval and remuneration ratification at the next AGM.
Ingersoll Rand (India) Limited has announced a final dividend of Rs. 20 per equity share for the financial year ended March 31, 2026. This recommendation was approved by the Board of Directors during their meeting on May 29, 2026, alongside the company's audited financial results. The dividend is based on a face value of Rs. 10 per share, representing a 200% payout on the nominal value. The final distribution is subject to shareholder approval at the upcoming Annual General Meeting.
- Recommended a final dividend of Rs. 20 per equity share for the financial year 2025-26.
- The dividend payout represents 200% of the face value of Rs. 10 per share.
- Statutory auditors Deloitte Haskins & Sells issued an unmodified opinion on the financial results.
- The dividend will be paid within the statutory timeline following shareholder approval at the AGM.
Ingersoll Rand (India) Limited has announced its audited financial results for the fiscal year ended March 31, 2026. The company reported a full-year Basic EPS of Rs 74.75, while the EPS for the final quarter stood at Rs 17.25. In a positive move for shareholders, the Board has recommended a final dividend of Rs 20 per equity share (200% of face value). The statutory auditors, Deloitte Haskins & Sells, have issued a clean audit report with an unmodified opinion.
- Recommended a final dividend of Rs 20.00 per equity share of face value Rs 10 for FY 2025-26.
- Reported full-year Basic and Diluted Earnings Per Share (EPS) of Rs 74.75.
- Quarterly EPS for the period ended March 31, 2026, was Rs 17.25.
- Total Comprehensive Income for the full financial year reached 23,590 (in specified units).
- Statutory auditors issued an unmodified opinion on the annual financial results.
Ingersoll Rand (India) Limited has announced the results of its postal ballot conducted via electronic voting. Shareholders have approved the re-appointment of Mr. P.R. Shubhakar as a Whole-time Director and the fixing of his remuneration. The resolution was passed as an ordinary resolution with an overwhelming majority of 99.97% votes in favor. A total of 26.44 million votes were polled, representing approximately 83.76% of the total shares.
- Shareholders approved the re-appointment of Mr. P.R. Shubhakar as Whole-time Director with 99.97% votes in favor.
- Total votes polled were 26,442,926, representing 83.76% of the total outstanding shares.
- The promoter group cast 23,360,000 votes, representing 100% support from the group for the resolution.
- Public institutional and non-institutional support remained high, with only 7,811 votes cast against the proposal.
Financial Performance
Revenue Growth by Segment
Total revenue from operations reached INR 1,374.58 Cr in FY25, a 10.75% increase from INR 1,241.20 Cr in FY24. The high-margin services segment (7% of revenue) grew 23% YoY, while finished products (91% of revenue) grew 5% YoY in fiscal 2024. H1 FY25 revenue grew 10.2% YoY to INR 640 Cr.
Geographic Revenue Split
Domestic sales dominate the portfolio, supported by an established position in the Indian compressor market. Export sales are tracked separately, with the company leveraging its global parent network, though specific regional percentage splits are not disclosed beyond the total export trend shown in visual charts.
Profitability Margins
Gross profit for FY25 was INR 378.76 Cr (27.5% margin) compared to INR 317.85 Cr in FY24. Net profit rose 20.3% to INR 267.52 Cr in FY25. Operating margins improved by 230 basis points to 24.0% in FY24 due to cost reductions and lower commodity prices, reaching 25.3% in H1 FY25.
EBITDA Margin
Operating margin is projected to stabilize between 20-22% over the medium term. The current H1 FY25 margin of 25.3% reflects high operational efficiency and the resolution of previous supplier-related constraints that had limited volume growth.
Capital Expenditure
The company is investing INR 170 Cr in a new manufacturing plant in Gujarat. This facility is designed to increase production capacity by 50%, moving from 10,000 units per month to 15,000 units per month to meet rising industrial demand.
Credit Rating & Borrowing
Maintains a 'CRISIL AA/Stable/CRISIL A1+' rating. The company is debt-free with a healthy financial risk profile. Borrowing costs are minimal, evidenced by finance costs of only INR 1.36 Cr in FY25, primarily related to lease liabilities or minor operational charges rather than long-term debt.
Operational Drivers
Raw Materials
Key raw materials include steel and iron, which are critical for compressor manufacturing. Fluctuations in these commodity prices directly impact the operating margin, as seen in the 230 bps margin expansion when prices moderated in FY24.
Import Sources
Sourcing is primarily domestic within India to support the Gujarat and existing manufacturing bases, supplemented by technological components and specialized parts facilitated through the global supply chain of the ultimate parent, Ingersoll Rand Inc (USA).
Key Suppliers
Not specifically named in the documents, but the company recently resolved a 'supplier-related issue' in Q2 FY25 which had previously hindered production volumes, indicating a reliance on specialized component vendors for compressor assembly.
Capacity Expansion
Current installed capacity is 10,000 units per month. A planned expansion to 15,000 units per month (a 50% increase) is underway at the new Gujarat site, with production expected to commence in Q2 FY26.
Raw Material Costs
Raw material costs are a significant portion of the expense base; total expenses were INR 1,014.22 Cr in FY25. Profitability remains highly susceptible to volatility in steel and iron prices, which the company manages through cost reduction measures and operational efficiencies.
Manufacturing Efficiency
The company focuses on 'Execution Excellence' to drive margins. The transition to a new 15,000-unit capacity plant is expected to further improve economies of scale and operational throughput.
Logistics & Distribution
Distribution is handled through an established domestic network. The company's presence in the domestic compressor segment is a key driver of its 'Stable' outlook and market leadership.
Strategic Growth
Expected Growth Rate
15-20%
Growth Strategy
Growth will be achieved through a 50% capacity expansion (15,000 units/month), aggressive cross-selling of high-margin services (which grew 23% recently), and capitalizing on the domestic industrial capex cycle. The new Gujarat plant (INR 170 Cr investment) is the primary vehicle for volume growth starting Q2 FY26.
Products & Services
Industrial air compressors, reciprocating compressors, centrifugal compressors, and high-margin aftermarket services including maintenance and spare parts.
Brand Portfolio
Ingersoll Rand
New Products/Services
Expansion of the high-margin services business is expected to contribute more than the current 7% of revenue, acting as a buffer against the cyclical nature of new product sales.
Market Expansion
The company is expanding its manufacturing footprint in Gujarat to better serve the domestic industrial market and potentially increase export volumes through the parent's global channels.
Market Share & Ranking
Holds a leading position in the domestic compressor manufacturing segment in India, supported by strong brand recognition and global technology.
Strategic Alliances
Receives continuous technological and operational support from ultimate parent Ingersoll Rand Inc (USA). No local joint ventures or subsidiaries are currently held.
External Factors
Industry Trends
The industry is shifting toward energy-efficient compressors and digital monitoring services. IRIL is positioned to capture this through its 'services' segment growth and technological backing from its 'BBB' rated global parent.
Competitive Landscape
Competes with both global and domestic engineering firms in the compressor space, maintaining an edge through its extensive service network and technological pedigree.
Competitive Moat
The moat is built on the 'Ingersoll Rand' brand, a debt-free balance sheet, and exclusive access to the parent's proprietary compressor technology, which is difficult for local competitors to replicate at scale.
Macro Economic Sensitivity
Highly sensitive to industrial GDP and the capex cycle. A slowdown in industrial activity in early FY24 led to a moderation in revenue growth to 5.7% before recovering to 10.2% in H1 FY25.
Consumer Behavior
Industrial customers are increasingly prioritizing total cost of ownership and uptime, driving the 23% growth in IRIL's high-margin service business.
Geopolitical Risks
Trade barriers or global supply chain disruptions could impact the sourcing of specialized components from the parent company or international suppliers.
Regulatory & Governance
Industry Regulations
Complies with the Companies (Cost Records and Audit) Rules, 2014 and standard manufacturing regulations. No significant regulatory hurdles were reported that impact the going concern status.
Environmental Compliance
The company publishes a Business Responsibility and Sustainability Report (BRSR) aligned with NGRBC principles, focusing on sustainable operations and environmental responsibility.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 25.7%, with a total tax expense of INR 92.83 Cr on a profit before tax of INR 360.34 Cr.
Legal Contingencies
No significant or material orders passed by regulators or courts impacting the going concern status. No proceedings are pending under the Insolvency and Bankruptcy Code, 2016.
Risk Analysis
Key Uncertainties
Primary risks include the cyclicality of industrial demand (potential 10-20% revenue volatility) and the impact of raw material price spikes on the 20-22% projected medium-term margins.
Geographic Concentration Risk
Concentrated in the Indian domestic market, though the new Gujarat plant provides a strategic base for both domestic and potential export growth.
Third Party Dependencies
High dependency on the ultimate parent for technology and a recent history of supplier-related bottlenecks that impacted quarterly performance.
Technology Obsolescence Risk
Mitigated by continuous technology transfer from Ingersoll Rand Inc, ensuring products remain at the forefront of industrial compressor standards.
Credit & Counterparty Risk
Maintains high-quality receivables and a strong liquidity position, although high dividend payouts (INR 236.76 Cr) are noted by rating agencies as a factor that moderates cash reserves.
