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Listed Indian subsidiary of Ingersoll Rand manufacturing industrial air compressors and related equipment.
Listed Indian subsidiary of Ingersoll Rand manufacturing industrial air compressors and related equipment.
Sells compressors made at its plant in Gujarat to industrial buyers and earns a recurring stream from spares, service and consumables for the compressors already installed. The US parent, Ingersoll Rand, holds a majority and supplies the technology and brands.
In one line: Ingersoll Rand's Indian compressor subsidiary.
Moat: narrow (brand, IP / patents). Access to Ingersoll Rand's global compressor technology and brand in the Indian industrial market.
Headquarters: Bengaluru, India · Founded: 1921 · Employees: 1,049
Size Ingersoll-Rand (India) (INGERRAND.NS) is an India Industrials company (Trucks/Construction/Farm Machinery) with a market value of $1.33B, the 510th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹3,968 on 6 Nov 2026.
Performance Over six months the shares fell 13.0%, against -16.1% for the median peer and 0.0% for the India market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 8.3% over the last twelve months (peer median +9.6%); the operating margin is 22.9% (peer median 7.6%).
Valuation It trades at 41.2× forward earnings against a peer median of 15.0× (2nd most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 25.9 points above its cost of capital (14.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹14.6B | ₹13.8B | ₹13.3B | ₹11.9B | ₹11.4B |
| Revenue growth | — | +4% | +12% | +4% | — |
| Gross profit | ₹4.87B | ₹4.26B | ₹4.20B | ₹3.41B | ₹3.08B |
| EBITDA | ₹3.49B | ₹3.31B | ₹3.36B | ₹2.69B | ₹2.40B |
| Net income | ₹2.68B | ₹2.56B | ₹2.68B | ₹2.22B | ₹1.83B |
| Free cash flow | n/a | ₹2.03B | ₹2.28B | ₹1.72B | ₹1.43B |
| Capital expenditure | n/a | ₹786M | ₹489M | ₹488M | ₹148M |
| Total debt | n/a | ₹90.4M | ₹105M | ₹60.7M | ₹46.2M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ingersoll-Rand (India) INGERRAND.NS | $1.33B | -13% | +8% | 23% | 41.2× | 34.1% |
| ELGI Equipments ELGIEQUIP.NS | $1.87B | -1% | +16% | 13% | 35.0× | 30.6% |
| Kirloskar Pneumatic KIRLPNU.NS | $846M | -23% | +9% | 18% | 29.0× | 26.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | INGERRAND.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.6% | -3.4% | 11th highest of 21 |
| 6-month return | -13.0% | -16.1% | 10th highest of 21 |
| Distance from 52-week high | -19.9% | -39.2% | 5th highest of 21 |
| Revenue growth (TTM) | +8.3% | +9.6% | 10th lowest of 21 |
| Operating margin | 22.9% | 7.6% | highest of 21 |
| Forward P/E | 41.2× | 15.0× | 2nd most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 34.1% | 8.5% | 4th most demanding of 16 |
| Growth delivered (Del g) | +17.6% | +10.6% | 5th highest of 16 |
| Hurdle (Req g minus delivered) | +16.4 pp | -7.4 pp | 4th most demanding of 16 |
| ROIC minus cost of capital | +25.9 pp | +0.5 pp | 2nd highest of 21 |
| EV / EBITDA | 35.9× | 9.3× | most expensive of 9 |
| Net debt / EBITDA | -0.4× | -0.4× | 5th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ingersoll-Rand (India) INGERRAND.NS | India | $1.33B | -13% | +8% | 23% | 41.2× | 34.1% | +17.6% |
| Alimak ALIG.ST | Sweden | $1.31B | +13% | -2% | 15% | 16.6× | 8.5% | +12.9% |
| Greenbrier Companies GBX | United States | $1.29B | -18% | -24% | 4% | 13.0× | n/a | n/a |
| KTK 603680.SS | China | $1.28B | -24% | -16% | 17% | n/a | -6.0% | +2.3% |
| Hengbo 301225.SZ | China | $1.41B | -11% | +69% | 7% | 85.7× | n/a | n/a |
| Comer Industries COM.MI | Italy | $1.43B | -18% | +31% | 10% | 13.5× | 3.1% | +17.7% |
| Austal ASB.AX | Australia | $1.23B | 0% | +11% | -7% | 18.1× | n/a | n/a |
| Weichai Heavy Machinery 000880.SZ | China | $1.44B | -33% | +58% | 2% | n/a | 6.8% | +13.1% |
| Asian Star Anchor Chain 601890.SS | China | $1.22B | -23% | +2% | 13% | 19.6× | 10.7% | +13.5% |
| Xinjiang Machinery Research Institute 300159.SZ | China | $1.21B | -28% | +28% | -40% | n/a | n/a | n/a |
| Action Construction Equipment ACE.NS | India | $1.47B | +29% | +5% | 15% | 29.0× | 29.6% | +21.7% |
| Hanwha Engine 082740.KS | South Korea | $1.50B | -72% | +3% | 12% | 10.9× | -0.3% | +10.6% |
| Bestway Marine & Energy Technology 300008.SZ | China | $1.51B | -29% | +1% | 8% | 30.6× | 14.5% | +54.0% |
| Chengdu Yunda Technology 300440.SZ | China | $1.17B | -1% | +9% | 6% | n/a | 42.0% | +8.7% |
| Chengdu Leejun Industrial 002651.SZ | China | $1.17B | -20% | +7% | -6% | n/a | 15.0% | -2.3% |
| OMH SCIENCE 300486.SZ | China | $1.17B | -30% | +35% | 2% | n/a | 47.7% | -0.3% |
| Swan Defence and Heavy Industries SWANDEF.NS | India | $1.54B | +48% | +642% | -109% | n/a | 57.1% | +113.9% |
| Lonking 3339.HK | Hong Kong | $1.57B | -14% | +22% | 12% | 7.0× | n/a | n/a |
| Yamabiko 6250.T | Japan | $1.11B | +8% | +10% | 13% | 9.9× | -2.2% | +5.7% |
| Taiyuan Heavy Industry 600169.SS | China | $1.10B | -8% | +10% | 6% | n/a | -3.8% | +3.7% |
| Namura Shipbuilding 7014.T | Japan | $1.62B | -9% | +7% | 19% | 9.9× | -3.1% | +10.1% |