Ingersoll-Rand (India) Ltd.|Q2FY15 Result Update | Better than expected performance :: India Nivesh

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Ingersoll-rand reported Q2FY15 revenue and profitability better than our
estimates.Net revenue for the quarter increased by 12.7% to Rs 1,672 mn. Total
Income including other income increased by 8.5% to Rs 1,815 mn (vs our estimate
of Rs 1,728 mn). Flat (Y-o-Y) gross margin and lower other expenses helped the
company in growing its EBITDA by 3.1% to Rs 308 mn (vs our estimate of Rs 274
mn). Against our estimate of y/y decline in gross margin, gross margin of the
company has remained flat at 34.6%. Company has reduced its other expenses by
6.2% to Rs 226 mn. Marginally higher tax rate (34.2%) for the quarter led to flat
Net profit growth to Rs 185 mn (vs our estimate of Rs 152 mn).

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