Ingersoll-Rand (India) Limited (INGERRAND) AI Stock Analysis

2 Followers

Ingersoll-Rand (India) Limited

(NSE:INGERRAND)

Select Model

Rating:73Outperform

Price Target:INR 4,443.00▲(11.49% Upside)

Action:upgraded

Date:09/06/26

Ingersoll-Rand (India) scores well on the strength of an exceptional financial profile: a near debt-free balance sheet, ROE above 40%, revenue that has more than doubled in five years, and consistently strong free cash flow. Technical momentum reinforces this, with the price trading above all major moving averages and a positive MACD, though the stock is trading near the top of its recent range. The score is held back by a rich P/E of 57, which leaves little margin for error given the projected FY2026 slowdown in revenue growth and roughly 10-percentage-point gross margin compression. A 1.55% dividend yield provides modest income support. Overall, a high-quality, capital-efficient business whose valuation already reflects much of its operational excellence.

Positive Factors

Conservative Balance SheetExtremely low leverage limits financial risk and preserves flexibility to fund operations, investment, or shareholder returns without heavy debt obligations. ROE above 40% also indicates highly efficient use of equity, although maintaining that performance remains important.

Negative Factors

Margin Compression and Slower GrowthThe simultaneous decline in key margins and moderation of revenue growth indicate that recent operating momentum has weakened. If this persists, slower top-line expansion and reduced profitability could constrain earnings growth, reinvestment capacity, and the sustainability of prior returns.

Ingersoll-Rand (India) Limited (INGERRAND) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 131.89B
Dividend Yield: 1.88%
Average Volume (3M): 2,380
Price to Earnings (P/E): 46.1
Beta (1Y): 0.86
Revenue Growth: 13.92%
EPS Growth: 3.16%
Country: India
Employees: 540
Sector: General
Sector Strength: 55
Industry: Industrial - Machinery

Ingersoll-Rand (India) Limited Business Overview & Revenue Model

Company Description

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-...

Ingersoll-Rand (India) Limited Financial Statement Overview

Summary

Financials are a clear strength. The balance sheet (88) is virtually debt-free with a debt-to-equity ratio below 0.02x and return on equity climbing to ~44% in FY2025, among the best in industrial machinery. The income statement (78) shows revenue more than doubling from ₹6.2bn in FY2021 to ₹13.4bn in FY2025 with net margins expanding to ~20%, though FY2026 estimates point to slower ~4.4% growth and notable gross margin compression (~43.9% to ~33.4%). Cash flow (75) is solid, with operating cash flow rising to ₹2.8bn and free cash flow covering 70–90% of net income, tempered by variable cash conversion and a modest projected dip in free cash flow.

Income Statement

78Positive

Balance Sheet

88Very Positive

Cash Flow

75Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	15.32B	13.92B	13.36B	11.98B	11.51B	9.10B
Gross Profit	4.98B	4.66B	5.86B	5.03B	4.59B	3.38B
EBITDA	3.66B	3.60B	3.67B	2.99B	2.52B	1.57B
Net Income	2.73B	2.56B	2.68B	2.22B	1.83B	1.10B
Balance Sheet
Total Assets	10.93B	9.99B	9.32B	8.52B	8.59B	8.58B
Cash, Cash Equivalents and Short-Term Investments	1.31B	1.60B	2.12B	2.20B	2.73B	2.92B
Total Debt	82.30M	90.40M	105.40M	60.73M	46.19M	77.45M
Total Liabilities	4.02B	3.83B	3.22B	2.72B	2.81B	3.06B
Stockholders Equity	6.91B	6.16B	6.09B	5.80B	5.78B	5.52B
Cash Flow
Free Cash Flow	0	2.02B	2.28B	1.58B	1.33B	686.55M
Operating Cash Flow	0	2.80B	2.77B	2.07B	1.48B	809.04M
Investing Cash Flow	0	-771.80M	-375.17M	-343.48M	-46.50M	-53.39M
Financing Cash Flow	0	-2.54B	-2.39B	-2.25B	-1.62B	-130.47M

Ingersoll-Rand (India) Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price3985.15

Price Trends

50DMA4200.04Negative

100DMA4338.25Negative

200DMA4123.87Negative

Market Momentum

MACD-34.75Negative

RSI46.26Neutral

STOCH42.87Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INGERRAND, the sentiment is Negative. The current price of 3985.15 is below the 20-day moving average (MA) of 3991.39, below the 50-day MA of 4200.04, and below the 200-day MA of 4123.87, indicating a bearish trend. The MACD of -34.75 indicates Negative momentum. The RSI at 46.26 is Neutral, neither overbought nor oversold. The STOCH value of 42.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INGERRAND.

Ingersoll-Rand (India) Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:INGERRAND against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ELGIEQUIP	77Outperform	INR 185.33B	40.58	―	0.46%	17.34%	17.07%
IN:INGERRAND	73Outperform	INR 125.80B	46.15	―	1.88%	13.92%	3.16%
IN:KIRLOSBROS	67Neutral	INR 130.72B	34.59	―	0.42%	10.85%	-4.06%
IN:KIRLPNU	67Neutral	INR 85.94B	33.07	―	0.91%	9.10%	38.69%
IN:BLUESTARCO	56Neutral	INR 326.93B	61.07	―	0.53%	8.79%	-2.20%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:KSB	51Neutral	INR 113.71B	100.42	―	0.67%	7.98%	-9.14%

* General Sector Average

Performance Comparison

IN:INGERRAND and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:INGERRAND	Ingersoll-Rand (India) Limited	3985.15	196.38	5.18%
IN:BLUESTARCO	Blue Star Limited	1590.00	-188.72	-10.61%
IN:ELGIEQUIP	ELGI Equipments Limited	584.80	72.84	14.23%
IN:KIRLOSBROS	Kirloskar Brothers Ltd.	1646.20	-110.56	-6.29%
IN:KIRLPNU	Kirloskar Pneumatic Co. Ltd.	661.25	102.23	18.29%
IN:KSB	KSB Ltd.	653.35	-95.80	-12.79%

Ingersoll-Rand (India) Limited Corporate Events

Ingersoll-Rand (India) Seeks Shareholder Nod for New Independent Director via E-Vote

Sep 25, 2026

Ingersoll-Rand (India) Limited has initiated a postal ballot process to seek shareholder approval via ordinary resolution for the appointment of Ajay Shriram Patil as an independent director. The exercise is being conducted entirely through remote e-...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 06, 2026

Ingersoll-Rand (India) Limited AI Stock Analysis