Ingersoll-Rand (India) profit rises 9% on 23% revenue gain

Ingersoll-Rand (India) Limited reported profit of Rs 65.86 crore for the quarter ended September 30, 2026, up 9% from Rs 60.35 crore a year earlier, as revenue from operations rose 23% to Rs 397.50 crore. Ingersoll-Rand (India) also declared an interim dividend of Rs 20 per equity share on November 6, 2026.

How did Ingersoll-Rand (India) perform in the September quarter?

Ingersoll-Rand (India) increased total income to Rs 406.51 crore in the September 2026 quarter from Rs 330.92 crore in the corresponding quarter a year earlier. Revenue from operations contributed Rs 397.50 crore, compared with Rs 321.94 crore, while other income was Rs 9.01 crore against Rs 8.98 crore. Revenue growth was therefore the main change in the quarter rather than movement in other income.

Profit before tax rose to Rs 88.04 crore from Rs 80.85 crore, while tax expense increased to Rs 22.18 crore from Rs 20.50 crore. Profit for the period consequently reached Rs 65.86 crore, compared with Rs 60.35 crore. Basic and diluted earnings per share were both Rs 20.86, up from Rs 19.12 in the September 2025 quarter; Ingersoll-Rand (India) stated that quarterly earnings per share are not annualised.

Which costs changed during Ingersoll-Rand (India)'s quarter?

Ingersoll-Rand (India)'s total expenses increased to Rs 318.47 crore in the September 2026 quarter from Rs 250.07 crore a year earlier, an increase of Rs 68.40 crore. Cost of materials consumed was the largest expense line at Rs 233.04 crore, up from Rs 184.43 crore. This Rs 48.61 crore increase accounted for much of the rise in total expenses alongside the revenue expansion.

Employee benefits expense rose to Rs 38.90 crore from Rs 32.52 crore, other expenses increased to Rs 40.21 crore from Rs 35.82 crore, and depreciation and amortisation rose to Rs 4.73 crore from Rs 3.57 crore. Purchases of stock-in-trade were Rs 8.85 crore, marginally below Rs 9.00 crore a year earlier. Changes in inventories produced a credit of Rs 7.83 crore, compared with a Rs 15.68 crore credit in the prior-year quarter, reducing the favourable inventory effect year on year.

Finance costs were Rs 0.57 crore in the September 2026 quarter, compared with Rs 0.41 crore a year earlier. Ingersoll-Rand (India) operates in one segment, Air Solutions, and therefore made no separate segment disclosures. The filing does not provide separate revenue, margin or profit figures for individual products or customer markets.

How did Ingersoll-Rand (India)'s first-half results compare?

Ingersoll-Rand (India) reported revenue from operations of Rs 776.96 crore for the half year ended September 30, 2026, versus Rs 637.26 crore for the corresponding half year of 2025. Total income rose to Rs 795.80 crore from Rs 655.79 crore, while profit before tax increased to Rs 183.03 crore from Rs 160.41 crore. First-half profit for the period grew to Rs 136.32 crore from Rs 119.33 crore.

The half-year cost increase tracked the larger sales base. Materials consumed rose to Rs 432.49 crore from Rs 343.60 crore, employee benefits expense increased to Rs 72.66 crore from Rs 64.73 crore, and other expenses rose to Rs 77.65 crore from Rs 67.31 crore. Total expenses were Rs 612.77 crore, compared with Rs 495.38 crore in the prior-year half.

What changed from June to September for Ingersoll-Rand (India)?

Ingersoll-Rand (India)'s September-quarter revenue from operations of Rs 397.50 crore was higher than Rs 379.46 crore in the preceding June 2026 quarter. However, profit for the period declined from Rs 70.46 crore in June to Rs 65.86 crore in September, while profit before tax declined from Rs 94.99 crore to Rs 88.04 crore. The Company therefore recorded sequential revenue growth while quarterly profit was lower.

Total expenses increased to Rs 318.47 crore in September from Rs 294.30 crore in June. Materials consumed rose to Rs 233.04 crore from Rs 199.45 crore, while changes in inventories shifted from an expense of Rs 12.51 crore in June to a credit of Rs 7.83 crore in September. Employee benefits increased to Rs 38.90 crore from Rs 33.76 crore, and other expenses rose to Rs 40.21 crore from Rs 37.44 crore.

Other income was Rs 9.01 crore in September, below Rs 9.83 crore in June. Tax expense decreased to Rs 22.18 crore from Rs 24.53 crore, but this did not offset the Rs 6.95 crore sequential reduction in profit before tax. Basic earnings per share accordingly fell to Rs 20.86 from Rs 22.32 in the preceding quarter.

What do Ingersoll-Rand (India)'s balance sheet and cash flow show?

Ingersoll-Rand (India)'s total assets were Rs 1,093.07 crore at September 30, 2026, up from Rs 998.93 crore at March 31, 2026. Trade receivables increased to Rs 390.75 crore from Rs 298.65 crore, while inventories increased to Rs 227.86 crore from Rs 215.32 crore. Cash and cash equivalents fell to Rs 128.19 crore from Rs 157.52 crore over the same period.

Total equity increased to Rs 691.28 crore at September 30 from Rs 615.72 crore at March 31, supported by other equity of Rs 659.71 crore compared with Rs 584.15 crore. Total liabilities rose to Rs 401.79 crore from Rs 383.21 crore. Current trade payables to creditors other than micro enterprises and small enterprises were Rs 235.86 crore, up from Rs 227.12 crore.

Net cash inflow from operating activities in the first half was Rs 67.00 crore, compared with Rs 120.24 crore in the corresponding 2025 half. The cash-flow statement recorded a Rs 93.80 crore use of cash from changes in trade receivables, against Rs 1.58 crore a year earlier. Ingersoll-Rand (India) spent Rs 34.78 crore on purchases of property, plant and equipment, including capital work-in-progress and capital advances, versus Rs 34.06 crore in the previous corresponding period.

Conclusion

Ingersoll-Rand (India)'s September-quarter filing shows that 23% year-on-year revenue growth to Rs 397.50 crore was accompanied by a 9% increase in profit to Rs 65.86 crore, despite higher material, employee and other expenses. The first half also advanced, with profit reaching Rs 136.32 crore from Rs 119.33 crore, although operating cash inflow declined to Rs 67.00 crore as receivables increased.

The next disclosed event for shareholders is the interim dividend of Rs 20 per equity share. Ingersoll-Rand (India) set November 19, 2026 as the record date and said payment will be made on December 2, 2026; the filing does not disclose a financial target, outlook or product-specific plan beyond its single Air Solutions segment.