Results     29-May-24
Analysis
Ingersoll-Rand (India)
Net down 5% on weak operating show
 

Standalone net sales (including other operating income) of Ingersoll-Rand (India) for the quarter ended Mar 2024 has declined 0.25% to Rs 303.64 crore.  Operating profit margin has declined from 29.72% to 25.84%, leading to 13.27% decline in operating profit to Rs 78.47 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 52.71% to 53.00%.   Purchase of finished goods cost rose from 1.54% to 1.82%.   Employee cost increased from 8.62% to 10.02%.   Other expenses rose from 8.47% to 9.02%.   

Other income up 150.46% to Rs 10.87 crore.  PBIDT fell 5.78% to Rs 89.34 crore.  Provision for interest up 205% to Rs 0.61 crore.  Loan funds rose to Rs 6.08 crore as of 31 March 2024 from Rs 4.62 crore as of 31 March 2023.  Inventories rose to Rs 174.74 crore as of 31 March 2024 from Rs 162.09 crore as of 31 March 2023.  Sundry debtors were lower at Rs 248.87 crore as of 31 March 2024 compared to Rs 267.91 crore as of 31 March 2023.  Cash and bank balance declined from Rs 275.23 crore as of 31 March 2023 to Rs 222.92 crore as of 31 March 2024.  

PBDT fell 6.22% to Rs 88.73 crore.  Provision for depreciation down 0.93% to Rs 4.27 crore.  Fixed assets increased to Rs 145.75 crore as of 31 March 2024 from Rs 114.23 crore as of 31 March 2023.  Intangible assets declined from Rs 0.18 crore to Rs 0.10 crore.  

Profit before tax down 6.48% to Rs 84.46 crore.  Provision for tax was expense of Rs 20.59 crore, compared to Rs 23.2 crore.  Effective tax rate was 24.38% compared to 25.69%.

Profit after tax fell 4.83% to Rs 63.87 crore.  

 

Full year results analysis

Net sales (including other operating income) of Ingersoll-Rand (India) has increased 5.47% to Rs 1,213.69 crore.  Operating profit margin has jumped from 21.36% to 23.92%, leading to 18.14% rise in operating profit to Rs 290.34 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 57.95% to 55.08%.   Purchase of finished goods cost rose from 1.69% to 2.05%.   Employee cost increased from 9.66% to 9.80%.   Other expenses fell from 9.31% to 9.25%.   

Other income up 42.69% to Rs 27.51 crore.  PBIDT rose 19.93% to Rs 317.85 crore.  Provision for interest fell 14.11% to Rs 2.07 crore.  Loan funds rose to Rs 6.08 crore as of 31 March 2024 from Rs 4.62 crore as of 31 March 2023.  Inventories rose to Rs 174.74 crore as of 31 March 2024 from Rs 162.09 crore as of 31 March 2023.  Sundry debtors were lower at Rs 248.87 crore as of 31 March 2024 compared to Rs 267.91 crore as of 31 March 2023.  Cash and bank balance declined from Rs 275.23 crore as of 31 March 2023 to Rs 222.92 crore as of 31 March 2024.  

PBDT rose 20.24% to Rs 315.78 crore.  Provision for depreciation rose 8.63% to Rs 17.74 crore.  Fixed assets increased to Rs 145.75 crore as of 31 March 2024 from Rs 114.23 crore as of 31 March 2023.  Intangible assets declined from Rs 0.18 crore to Rs 0.10 crore.  

Profit before tax grew 21.01% to Rs 298.04 crore.  Provision for tax was expense of Rs 75.65 crore, compared to Rs 63.66 crore.  Effective tax rate was 25.38% compared to 25.85%.

Profit after tax rose 21.76% to Rs 222.39 crore.  

Equity capital stood at Rs 31.57 crore as of 31 March 2024 to Rs 31.57 crore as of 31 March 2023.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .  

Cash flow from operating activities increased to Rs 206.91 crore for year ended March 2024 from Rs 148.06 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 48.76 crore, compared to Rs 14.83 crore during the year ended March 2023.  



Ingersoll-Rand (India) : Standalone Results
Quarter endedYear ended
Particulars202403202303Var.(%)202403202303Var.(%)
Net Sales (including other operating income)303.64304.40-0.251,213.691,150.795.47
OPM (%)25.8429.72-388 bps23.9221.36257 bps
OP78.4790.48-13.27290.34245.7618.14
Other Inc.10.874.34150.4627.5119.2842.69
PBIDT89.3494.82-5.78317.85265.0419.93
Interest0.610.2205.002.072.41-14.11
PBDT88.7394.62-6.22315.78262.6320.24
Depreciation4.274.31-0.9317.7416.338.63
PBT84.4690.31-6.48298.04246.321.01
PBT before EO84.4690.31-6.48298.04246.321.01
EO Income00-00-
PBT after EO84.4690.31-6.48298.04246.321.01
Taxation20.5923.2-11.2575.6563.6618.83
PAT63.8767.11-4.83222.39182.6421.76
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations63.8767.11-4.83222.39182.6421.76
EPS (Rs)*20.2321.26-4.8370.4557.8621.76
* EPS is on current equity of Rs 31.57 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


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