Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹13,946Cr
Rev Gr TTM
Revenue Growth TTM
7.20%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

INGERRAND
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 37.3 | 11.5 | 8.8 | 3.1 | -1.9 | 4.3 | 16.6 | 15.9 | 7.9 | -0.8 | -0.1 | 19.4 |
| 214 | 233 | 211 | 254 | 225 | 235 | 243 | 279 | 239 | 241 | 246 | 341 |
Operating Profit Operating ProfitCr |
| 29.7 | 23.4 | 23.8 | 22.7 | 24.6 | 26.1 | 24.6 | 26.8 | 25.9 | 23.5 | 23.6 | 25.1 |
Other Income Other IncomeCr | 4 | 6 | 6 | 5 | 16 | 5 | 6 | 8 | 12 | 10 | 9 | -15 |
Interest Expense Interest ExpenseCr | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
Depreciation DepreciationCr | 4 | 4 | 5 | 5 | 4 | 5 | 4 | 4 | 4 | 4 | 4 | 4 |
| 90 | 72 | 67 | 74 | 84 | 83 | 81 | 106 | 90 | 80 | 81 | 95 |
| 23 | 19 | 17 | 19 | 21 | 21 | 21 | 28 | 23 | 21 | 21 | 23 |
|
Growth YoY PAT Growth YoY% | 129.6 | 67.3 | 40.2 | 14.8 | -4.8 | 15.1 | 21.4 | 41.0 | 5.9 | -4.7 | 0.0 | -7.4 |
| 22.1 | 17.6 | 18.0 | 16.7 | 21.4 | 19.5 | 18.7 | 20.4 | 21.0 | 18.7 | 18.8 | 15.8 |
| 21.3 | 17.0 | 15.8 | 17.4 | 20.2 | 19.6 | 19.1 | 24.6 | 21.4 | 18.7 | 19.1 | 22.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | -5.3 | -0.1 | -0.9 | 20.2 | -4.5 | -12.5 | 47.3 | 26.5 | 4.1 | 11.5 | 5.9 |
| 611 | 579 | 564 | 544 | 634 | 607 | 507 | 758 | 905 | 923 | 996 | 1,067 |
Operating Profit Operating ProfitCr |
| 6.8 | 6.8 | 9.0 | 11.5 | 14.3 | 14.0 | 17.9 | 16.6 | 21.4 | 22.9 | 25.5 | 24.6 |
Other Income Other IncomeCr | 66 | 48 | 71 | 74 | 34 | 36 | 13 | 13 | 19 | 43 | 38 | 15 |
Interest Expense Interest ExpenseCr | 2 | 0 | 1 | 0 | 0 | 3 | 2 | 3 | 2 | 2 | 1 | 2 |
Depreciation DepreciationCr | 12 | 10 | 12 | 13 | 11 | 18 | 14 | 14 | 16 | 18 | 17 | 15 |
| 97 | 80 | 114 | 132 | 127 | 114 | 108 | 148 | 246 | 298 | 360 | 346 |
| 33 | 20 | 37 | 43 | 47 | 29 | 35 | 38 | 64 | 76 | 93 | 87 |
|
| | -6.5 | 30.3 | 15.0 | -8.9 | 4.5 | -14.5 | 52.2 | 65.8 | 21.8 | 20.3 | -3.2 |
| 9.7 | 9.6 | 12.4 | 14.5 | 10.9 | 12.0 | 11.7 | 12.1 | 15.9 | 18.6 | 20.0 | 18.3 |
| 20.9 | 18.8 | 24.5 | 28.2 | 25.6 | 26.8 | 22.9 | 34.9 | 57.9 | 70.5 | 84.8 | 82.0 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 |
| 926 | 976 | 1,030 | 1,097 | 387 | 350 | 419 | 520 | 546 | 549 | 578 | 618 |
Current Liabilities Current LiabilitiesCr | 171 | 147 | 150 | 158 | 180 | 162 | 207 | 277 | 276 | 260 | 307 | 320 |
Non Current Liabilities Non Current LiabilitiesCr | 3 | 6 | 1 | 2 | 1 | 9 | 15 | 7 | 5 | 12 | 16 | 14 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 794 | 875 | 908 | 992 | 448 | 405 | 531 | 694 | 722 | 667 | 706 | 728 |
Non Current Assets Non Current AssetsCr | 337 | 286 | 305 | 297 | 151 | 148 | 142 | 142 | 137 | 185 | 226 | 256 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 29 | 67 | 121 | 77 | 37 | 109 | 77 | 81 | 148 | 207 | 265 |
Investing Cash Flow Investing Cash FlowCr | -4 | 113 | 141 | 93 | 100 | 59 | -1 | -5 | -5 | -34 | -38 |
Financing Cash Flow Financing Cash FlowCr | -24 | -23 | -23 | -23 | -791 | -125 | -4 | -13 | -162 | -225 | -240 |
|
Free Cash Flow Free Cash FlowCr | -30 | 33 | 94 | 68 | 28 | 107 | 70 | 69 | 133 | 158 | 216 |
| 46.2 | 112.6 | 157.2 | 86.8 | 45.3 | 129.4 | 105.7 | 73.5 | 81.1 | 93.0 | 99.1 |
CFO To EBITDA CFO To EBITDA% | 65.8 | 158.7 | 216.5 | 109.0 | 34.8 | 110.8 | 69.1 | 53.4 | 60.3 | 75.3 | 77.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 3,187 | 2,040 | 2,440 | 2,064 | 1,969 | 1,949 | 2,157 | 5,044 | 8,245 | 11,558 | 11,289 |
Price To Earnings Price To Earnings | 51.1 | 53.6 | 31.6 | 23.2 | 24.3 | 23.0 | 29.8 | 45.8 | 45.1 | 52.0 | 42.2 |
Price To Sales Price To Sales | 4.9 | 3.3 | 3.9 | 3.4 | 2.7 | 2.8 | 3.5 | 5.5 | 7.2 | 9.7 | 8.4 |
Price To Book Price To Book | 3.3 | 2.0 | 2.3 | 1.8 | 4.7 | 5.1 | 4.8 | 9.1 | 14.3 | 19.9 | 18.5 |
| 62.2 | 37.1 | 31.5 | 18.3 | 17.6 | 18.2 | 17.5 | 31.4 | 32.5 | 41.3 | 32.6 |
Profitability Ratios Profitability Ratios |
| 32.5 | 35.4 | 38.6 | 42.4 | 42.1 | 43.5 | 40.3 | 37.8 | 40.3 | 42.3 | 44.3 |
| 6.8 | 6.8 | 9.0 | 11.5 | 14.3 | 14.0 | 17.9 | 16.6 | 21.4 | 22.9 | 25.5 |
| 9.7 | 9.6 | 12.4 | 14.5 | 10.9 | 12.0 | 11.7 | 12.1 | 15.9 | 18.6 | 20.0 |
| 10.3 | 8.0 | 10.8 | 11.7 | 30.6 | 30.0 | 23.8 | 27.0 | 42.7 | 51.2 | 58.4 |
| 6.6 | 5.9 | 7.3 | 7.9 | 19.3 | 22.2 | 16.1 | 20.0 | 31.6 | 38.3 | 43.9 |
| 5.6 | 5.1 | 6.4 | 6.9 | 13.5 | 15.3 | 10.8 | 13.2 | 21.3 | 26.1 | 28.7 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Ingersoll-Rand (India) Ltd is a leading industrial technology company specializing in air compression, air treatment, and gas solutions. With a strong focus on energy efficiency, digital innovation, and sustainability, the company serves a wide range of industries including power, semiconductors, pharmaceuticals, healthcare, and manufacturing. As a key part of the global Ingersoll Rand network, it leverages advanced R&D, cutting-edge manufacturing, and customer-centric service models to strengthen its leadership in India and expand internationally.
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### **Recent Developments & Product Innovation (2023–2025)**
#### **Product Launches & Enhancements**
- **2023–24:**
- Launched **9 new products** by accelerating product development and enhancing cross-functional collaboration.
- Introduced **RSB Series (15–22 kW)** in the contact-cooled rotary segment with focus on energy efficiency.
- Launched **competitively priced air-cooled reciprocating compressors (5HP)** to meet rising demand.
- Upgraded existing models with **built-in Variable Frequency Drives (VFDs)** for improved power savings.
- Expanded **oil-free segment**: launched **Orion 90–160 kW**, **NX 5000 extended range**, **NX 12000**, and **E/DX Series (90–160 kW)** for enhanced efficiency and productivity.
- **2022–23:**
- Launched **12 new products**, including **Centec NX series**, **HOC Dryers**, and **RSB 3.0–5.5 models**, targeting pharmaceuticals, food & beverage, textiles, and healthcare.
- Introduced small reciprocating compressors to meet hospital oxygen demand during the pandemic.
- **2021–22:**
- Launched **Next Generation screw compressors**, **14 new OEM-specific products**, and **RMB series (15–160 kW)** for cost-conscious customers.
- Localized **RS 200–355** and **RSB 90–160** models; added **VFDs to 30–75 kW RSB frames**.
- Launched **NX 8000**, **TA 1500**, oil-free water-injected models (15–37 kW), and **E/DX Oil-Free Compressors (200–355 kW)**.
#### **Energy Efficiency & Technology Adoption**
- Adopts **Permanent Magnet Motors (IE5 efficiency)** in select models.
- Offers **IoT-enabled platforms** like **Helix**, **iConn**, and **Ecoplant**, reducing energy costs by up to **50%** and supporting predictive maintenance.
- **Ecoplant**, launched in 2025, is a cloud-based intelligent monitoring platform using machine learning to optimize air compressor operations. Secured **nine early orders**, indicating strong market acceptance.
#### **R&D & Innovation Focus**
- Collaborates with global engineering teams to develop new compressors and dryers.
- Invests in next-gen technologies: **hydrogen compressors**, **heatless desiccant dryers**, **multi-stage reciprocating compressors**, and **high-pressure air compressors**.
- Operates a **world-class R&D lab** with a future-ready infrastructure, including a **NABL-approved, environmentally controlled laboratory** and a **Centre of Excellence for Hydrogen Compression Systems**.
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### **Manufacturing & Capacity Expansion**
#### **Sanand Greenfield Facility, Gujarat**
- A **₹170 crore greenfield manufacturing plant** in Sanand is nearing completion as of August 2025.
- Main building and utilities fully constructed.
- Machine commissioning and trial production expected in **September 2025**, pending approvals.
- Plant scheduled to become fully operational by **Q2 FY2025–26**.
- Will increase monthly manufacturing capacity by **50%**, from **10,000 to 15,000 units**.
- Designed as a **Centre of Excellence** for **Hydrogen Compression Systems** with a dedicated R&D test facility.
- Supports **‘Made in India’ initiatives**, localization of air treatment systems, and export to Europe, Middle East, and Africa.
#### **Existing Facilities**
- Operates from the **Naroda (Gujarat)** and **Sahibabad** facilities.
- Installed an **800 kWp solar plant** at Naroda with **1,800 panels**, reducing conventional energy dependence by **~40%**.
- Focus on sustainable design, recyclable materials, and energy-efficient manufacturing.
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### **Strategic Business Priorities**
#### **Growth Pillars (as of Aug 2025)**
1. **Drive organic growth** through innovation and market expansion.
2. **Service-led business expansion** leveraging CARE packages.
3. **Faster product launches** via accelerated development cycles.
4. **Increase sales ratio of Air Treatment Attachments**.
5. **Improve manufacturing and supply chain agility**.
#### **Market Expansion**
- Strengthening **distributor and channel networks**, especially in high-growth regions.
- Developing **industry-specific compressors** for power, semiconductors, and hydrogen mobility.
- Expanding footprint through **targeted engagement** and **pan-India sales offices (7 locations)**.
- Positioned as a **leading provider of Air and Gas Solutions (AGS)** for mission-critical sectors.
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### **Service & After-Sales Excellence**
- **CARE Package** forms the backbone of service revenue, contributing **over 80%** of total service income.
- Provides **predictive maintenance**, **remote diagnostics**, and **performance optimization** via IIoT.
- **Service revenue** reached **₹58 crores** in the reported year.
- Expanded **national service network** and increased service team size for faster response and higher equipment uptime.
- Focus on **long-term Multi-Year Service Agreements** and **Extended Warranties** to enhance reliability and customer satisfaction.
- Strategic emphasis on **combating spurious parts** to protect brand integrity and product performance.
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### **Financial & Market Position (FY2024)**
- **India contributes ~82% of total revenue** (₹99,594.33 million).
- **Single largest customer**: Ingersoll-Rand Industrial US Inc., accounting for **₹16,099.11 million (over 10% of revenue)**.
- Exports to **USA, Europe, Ireland, Bangladesh, Nepal, and Sri Lanka**.
- International sales declined YoY in some regions but remain strategically important.
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### **Leadership & Key Personnel**
- **Mr. Inder Arora**: Country Leader for India, Sri Lanka, and Bangladesh (since 2012), overseeing commercial operations.
- **Sunil** (Operations Leader): Instrumental in setting up the Sanand facility; previously led operational excellence at Sahibabad and Naroda plants.
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