Ingersoll Rand (India) (INGERRAND) had a P/E of 46.8× on 6 Nov 2026, above the industry P/E of 33.8×, and the shares are 20% below their 52-week high. Its ROCE of 55% is the second-highest among the 7 largest Specialty Industrial Machinery peers, and sales and net profit grew 6.7% and 12% a year over 3 years. It has almost no debt, and its dividend yield is 1.9%. It is a small-cap company with a market cap of ₹12,527 Cr, ranked 22nd of 138 Specialty Industrial Machinery companies by market cap; the shares rose 5.1% over the past year.
- ₹3,993.40
- ₹4,010.90
- ₹3,896.60
- ₹3,993.40
- 8K
Health check
- ReturnsIn line
+5.1% over a year, better than 3 of 7 peers.
- Price tagPricier
P/E 46.8 vs industry 33.8.
- GrowthSteady
Sales +6.7%, profit +11.9% a year over 3 years.
- ProfitabilityStrong
ROCE 54.9% vs peer median 24.8%.
- Balance sheetStretched
Practically debt-free, Piotroski 3 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Defensive
Key metrics
- Market cap
- ₹12,527 Cr
- Small cap
- P/E
- 46.8
- Industry 33.8
- Price to book
- 20.35
- Peers 9.16
- Dividend yield
- 1.89%
- ROE
- 41.8%
- Peers 19.1%
- ROCE
- 54.9%
- Peers 24.8%
- Debt to equity
- 0.01
- Debt ₹9.04 Cr
- EPS (TTM)
- ₹84.74
- Face value ₹10
- OPM (TTM)
- 24.0%
- Net margin 18.4%
- Sales growth
- +20.3%
- Latest quarter vs a year ago
- Profit growth
- +19.5%
- Latest quarter vs a year ago
- Price to sales
- 8.60
- EV/EBITDA 33.9
Strengths and risks
Strengths
- Return on equity of 41.8%.
- Return on capital employed of 54.9%.
- Practically debt-free.
- Quarterly sales up 20.3% on a year ago.
- Positive operating cash flow in each of the last 4 years.
About Ingersoll Rand (India)
Ingersoll-Rand (India) Limited manufactures and sells industrial air compressors and related services in India. The company offers heatless desiccant dryer; heat of compression dryers; high pressure air compressors; small and large reciprocating air-cooled and water-cooled; contact cooled rotary screw and oil free rotary screw; engine driven and centrifugal compressors; and cycling and non-cycling refrigerated dryers. It sells its products under the NASH,…
- Headquarters
- Bengaluru
- Employees
- 540
- Sector
- Industrials
- ISIN
- INE177A01018
- Website
- irco.com
Price range
- Avg volume (3M)
- 24.9K
- 1-year return
- plus 5.1%
- From 52-week high
- minus 19.9%
Peers · Specialty Industrial Machinery
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHELBharat Heavy Electricals | 418.80 | plus 0.17% | 1,45,829 | 50.6 | 74.6 | 6.6% | 10.1% | 0.22 | 13.5% | plus 56.4% |
| ABBABB India | 6,774.00 | plus 2.20% | 1,43,547 | 92.3 | 68.2 | 28.5% | 13.8% | 0.02 | 15.4% | plus 26.4% |
| SIEMENSSiemens | 3,560.00 | plus 3.73% | 1,26,779 | 86.1 | 59.3 | 16.5% | 10.4% | 0.02 | 3.0% | plus 10.0% |
| CUMMINSINDCummins India | 4,048.80 | minus 0.25% | 1,12,233 | 49.8 | 41.7 | 35.0% | 19.1% | 0.00 | 16.1% | minus 6.0% |
| GVT&DGE Vernova T&D India | 4,018.00 | minus 3.06% | 1,02,879 | 71.3 | 56.6 | 58.5% | 26.5% | 0.01 | 31.1% | plus 31.7% |
| SUZLONSuzlon Energy | 38.80 | plus 0.54% | 53,337 | 23.7 | 17.3 | 24.8% | 16.7% | 0.07 | 41.4% | minus 35.7% |
| AIAENGAIA Engineering | 3,113.60 | minus 2.77% | 29,056 | 23.5 | 19.6 | 19.9% | 27.4% | 0.00 | −3.4% | minus 3.9% |
| INGERRANDIngersoll Rand (India) | 3,968.20 | minus 0.63% | 12,527 | 46.8 | 38.3 | 54.9% | 25.1% | 0.01 | 6.7% | plus 5.1% |
| Median of 7 peers | – | 0.17% | 1,12,233 | 50.6 | 56.6 | 24.8% | 16.7% | 0.02 | 15.4% | 10.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 315 | 322 | 455 | 300 | 379 | |
| 241 | 246 | 341 | 231 | 289 | |
| 74.2 | 75.9 | 114 | 69 | 90.2 | |
| 23.5% | 23.6% | 25.1% | 23.0% | 23.8% | |
| 9.6 | 9 | 11.5 | 8.4 | 9.8 | |
| 0.4 | 0.4 | 0.5 | 0.2 | 0.3 | |
| 3.8 | 3.6 | 3.6 | 4.1 | 4.7 | |
| – | – | −26.6 | 14.8 | – | |
| 79.6 | 80.9 | 95.1 | 87.9 | 95 | |
| 25.9% | 25.4% | 24.4% | 26.3% | 25.8% | |
| 59 | 60.4 | 71.9 | 64.8 | 70.5 | |
| 18.68 | 19.12 | 22.77 | 20.53 | 22.32 |
Profit & loss
- Sales CAGR 3Y
- +6.7%
- Profit CAGR 3Y
- +11.9%
- EPS CAGR 3Y
- +11.9%
- ROE
- 41.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,131 | 1,180 | 1,318 | 1,372 | |
| – | +4.3% | +11.7% | +4.1% | |
| 897 | 917 | 989 | 1,049 | |
| 234 | 263 | 329 | 323 | |
| 20.7% | 22.3% | 24.9% | 23.5% | |
| 21.1 | 48.2 | 44.2 | 40.7 | |
| 2.4 | 2.1 | 1.4 | 1.5 | |
| 16.3 | 17.7 | 17.1 | 15.1 | |
| 9.9 | 7.1 | 5.8 | −3.5 | |
| 246 | 298 | 360 | 343 | |
| 25.8% | 25.4% | 25.8% | 25.4% | |
| 183 | 222 | 268 | 256 | |
| – | +21.8% | +20.3% | minus 4.3% | |
| 57.86 | 70.45 | 84.74 | 81.10 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 31.6 | 31.6 | 31.6 | 31.6 | |
| 546 | 549 | 578 | 584 | |
| 4.6 | 6.1 | 10.5 | 9 | |
| 276 | 266 | 312 | 374 | |
| 859 | 852 | 932 | 999 | |
| 114 | 154 | 197 | 268 | |
| 4 | 14.1 | 59.5 | 49.6 | |
| 2.8 | 2.2 | 2.1 | 3.2 | |
| 273 | 220 | 209 | 158 | |
| 465 | 462 | 465 | 521 | |
| 859 | 852 | 932 | 999 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 148 | 207 | 265 | 274 | |
| −4.6 | −34.3 | −37.5 | −69.4 | |
| −162 | −225 | −240 | −255 | |
| −18.3 | −52.6 | −12 | −50.8 | |
| −14.8 | −48.8 | −48.9 | −78.6 | |
| 133 | 158 | 216 | 195 | |
| −158 | −221 | −237 | −253 |
Shareholding pattern
- Promoters75.00%
- Public25.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 75.00% | 25.00% | 0.00 | |
| 30 Jun 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Mar 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Dec 2025 | 75.00% | 25.00% | 0.00 | |
| 30 Sep 2025 | 75.00% | 25.00% | – |
Major shareholders
Filings & events
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