Ingersoll-Rand India profit rises 19.46% as margin edges higher
Standalone revenue growth outpaced expense growth, while operating margin remained 9.36 percentage points above the Industrials peer median.
Filed 13 Aug 2026, 13:44 IST · Ingersoll-Rand (India) Ltd (INGERRAND)
Key takeaways
- Standalone revenue grew 20.34% year on year, helping net profit rise 19.46% to Rs 70.46 cr.
- Operating margin expanded 0.24 percentage points year on year to 23.78% as expenses grew slightly slower than revenue.
- Other income contributed 10.35% of pre-tax profit, making it a meaningful part of reported earnings quality.
Price around the results
Revenue growth carried the standalone quarter
Revenue rose 20.34% year on year, while expenses increased 19.98%, allowing operating profit to grow 21.52%. Net profit rose 19.46%, broadly tracking pre-tax profit growth of 19.39%. Sequentially, revenue increased 26.64% and net profit increased 8.72%.
Costs supported a small margin recovery
Expenses grew slightly slower than revenue year on year, which lifted operating margin by 0.24 percentage points. The margin also recovered 0.74 percentage points sequentially from Q4FY26. Interest expense fell 22.73% year on year, although it rose 88.89% sequentially.
Operating margin remains above sector peers
The 23.78% operating margin was 9.36 percentage points above the 14.42% median for 138 Industrials companies that had reported the same quarter. Margin has been uneven across recent quarters: it rose from 23.04% in Q4FY26 but remained below 25.08% in Q3FY26 and 25.89% in Q4FY25. Other income accounted for 10.35% of pre-tax profit, while the 0.05-percentage-point year-on-year decline in the tax rate provided little additional support to net profit.
Past result reactions have lacked a clear direction
Across the eight most recent result reactions, the stock rose four times and fell four times. The median absolute move was 2.30%, indicating that the usual post-results move has been modest, despite individual moves ranging from -11.14% to +5.20% in the recent history.
Q1FY27 at a glance
Standalone figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 | Q4FY26 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹379 cr | ₹300 cr | +26.64% | +20.34% |
| Other income | ₹10 cr | ₹23 cr | -57.59% | +2.93% |
| Expenses | ₹289 cr | ₹231 cr | +25.43% | +19.98% |
| Operating profit | ₹90 cr | ₹69 cr | +30.70% | +21.52% |
| Operating margin (%) | 23.78% | 23.04% | — | — |
| Interest | ₹0 cr | ₹0 cr | +88.89% | -22.73% |
| Depreciation | ₹5 cr | ₹4 cr | +14.01% | +24.54% |
| Profit before tax | ₹95 cr | ₹88 cr | +8.08% | +19.39% |
| Tax | ₹25 cr | ₹23 cr | +6.28% | +19.19% |
| Net profit | ₹70 cr | ₹65 cr | +8.72% | +19.46% |
| EPS (₹) | ₹22.32 | ₹20.53 | +8.72% | +19.49% |
Operating margin of 23.78% compares with a Industrials sector median of 14.42% across 138 peers that have reported Q1FY27.
What to watch
- Whether revenue growth continues to stay ahead of the 19.98% year-on-year expense growth recorded this quarter.
- Whether operating margin holds above 23.78% after the 0.74-percentage-point sequential recovery.
- Whether other income remains around its 10.35% share of pre-tax profit.