Ingersoll-Rand (India) Limited , a prominent player in the air solutions sector, has released its unaudited financial results for the quarter ended June 30, along with an update on its new manufacturing facility in Gujarat.

Financial Performance

For the quarter, Ingersoll-Rand reported revenue from operations of Rs 31,532.00 lakhs, showing a slight decrease from Rs 32,234.00 lakhs in the preceding quarter and a marginal increase from Rs 31,408.00 lakhs in the corresponding quarter of the previous year.

The company's net profit for the quarter stood at Rs 5,898.00 lakhs, down from Rs 6,766.00 lakhs in the previous quarter and lower than Rs 6,186.00 lakhs in the same quarter last year. Basic earnings per share was reported at Rs 18.68, compared to Rs 21.43 in the preceding quarter and Rs 19.60 in the corresponding quarter of the previous year.

Manufacturing Facility Update

Ingersoll-Rand provided an update on its new manufacturing facility being constructed in Sanand, Gujarat. The company had initially announced plans for this state-of-the-art plant in December 2022 to enhance manufacturing capacity for existing and new products.

According to the latest disclosure, the factory construction is nearing completion, although with some delays. The company cited administrative, operational, and logistical factors, as well as delays in obtaining statutory approvals, as reasons for the extended timeline.

Revised Timeline

Ingersoll-Rand has revised its production commencement schedule for the new facility:

• Trial production is expected to begin in September.
• Full operational status is anticipated in October, subject to a successful trial period and favorable circumstances.

This timeline represents a shift from the earlier projection of August, which was itself a revision from the initial target of April.

Looking Ahead

The completion of the Sanand facility marks a significant milestone in Ingersoll-Rand's growth journey. While the company faces some challenges as evidenced by the recent financial results, the new manufacturing capabilities could potentially boost production and efficiency in the coming quarters.

Investors and industry observers will be keenly watching for the confirmation of production commencement at the new facility, expected in October, and its impact on the company's future performance.

Deloitte Haskins & Sells issued a Limited Review Report on the financial results. Ingersoll-Rand (India) Limited continues to operate primarily in the Air Solutions segment.

Sanand Facility Update

Ingersoll Rand has announced further delays in the commencement of operations at its new manufacturing facility in Sanand, Gujarat, while simultaneously reporting robust financial results for the first quarter.

The company's ambitious expansion plans have hit another snag, with the start of operations at the new Sanand facility now pushed back to October 2025. This represents a significant delay from the original target of April 2025, which was previously revised to August 2025.

According to the company's disclosure, the postponement is attributed to a combination of factors:

• Extended monsoon rains from August to October 2024
• Administrative hurdles
• Operational challenges
• Logistical issues
• Delays in obtaining statutory approvals

Despite these setbacks, Ingersoll Rand remains optimistic about the project's progress. The company stated that factory construction is nearing completion, with trial production expected to commence in September 2025. Full operations are slated to begin in October 2025, contingent on favorable circumstances.

The new facility is designed to enhance manufacturing capacity for both existing and new products, marking a significant milestone in the company's growth journey. The Board of Directors had initially approved the Gujarat plant setup in December 2022.

Q1 Financial Performance

Amidst the challenges faced with the new facility, Ingersoll Rand has reported strong financial results for the quarter ended June 30:

The company's revenue from operations showed a marginal increase of 0.39% compared to the same quarter in the previous year. However, profit before tax and profit for the period saw slight declines of 4.48% and 4.65% respectively.

Management Commentary

P.R. Shubhakar, Chief Financial Officer & Company Secretary of Ingersoll Rand, signed off on the financial results and facility update. The company's management expressed eagerness to share the confirmation of production at the Sanand facility in October 2025, underlining their commitment to this expansion despite the delays.

The Board of Directors approved these results and updates in a meeting that commenced at 12:30 PM and concluded at 1:10 PM on August 12, 2025.