Multibagger mid-cap stock declares dividend of ₹30 apiece, PAT jump 36% in Q2


With a market capitalization of Rs. 7,230.81 Cr., Ingersoll Rand India Limited is a mid-cap company that operates in the industrial sector. A leader in the worldwide industry, Ingersoll Rand offers a wide range of services and solutions to many sectors. With more than 160 years of expertise, the firm offers goods and services such as compressor systems, power tools, lifting, and material handling. Today the company has declared its Q2 results and also a dividend of 30 per share for its eligible shareholders.

The company has said in a stock exchange filing that “Pursuant to the provisions contained in Regulation 30 and other applicable regulations of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of directors at their meeting held today have declared an interim dividend of Rs. 30/-, including a special dividend of Rs. 23/-, per equity share of face value of Rs. 10/- each for the financial year ending on March 31, 2023. The record date for the payment of interim dividend is November 21, 2022 and the dividend will be paid on December 8, 2022.”

In Q2FY23 the company declared net sales of 253.94 crore compared to 273.23 crore Cr in Q1FY23 and 248.92 crore posted in Q2FY22, representing a YoY growth of 2.01% but a QoQ fall of 7.05%. The company reported a total expense of 212.69 crore Cr in Q2FY23 compared to 233.58 crore posted in Q1FY23 and 216.62 crore posted in Q2FY22, representing a YoY fall of 1.81% and a QoQ fall of 8.94%. The company posted a profit before tax (PBT) of 47.87 crore in Q2FY23 compared to 43.34 crore in Q1FY23 and 35.39 crore posted in Q2FY22, representing a YoY growth of 35.26% and a QoQ growth of 10.45%. The company reported a net profit of 35.45 crore Cr in Q2FY23 compared to 32.11 crore Cr in Q1FY23 and 26.03 crore posted in Q2FY22, representing a YoY growth of 36.18% and a QoQ growth of 10.40%. The EPS climbed to 11.23 per share in Q2FY23 compared to 10.17 in Q1FY23 and 8.25 posted in Q2FY22.

The shares of Ingersoll Rand India Limited closed today at 2,280.00 apiece, up by 3.69% from the previous close of 2,198.85. In trade today the stock recorded a total volume of 83,765 shares compared to the 20-Day average volume of 22,534 shares. In the last 5 years, the stock has given a multibagger return of 187.48% and in the last 3 years, the stock has delivered a multibagger return of 272.23%. In the last 1 year, the stock has gained 87.67% and on a YTD basis, the stock has gained 83.77% so far in 2022. For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 75.00%, FIIs stake of 0.57%, DIIs stake of 5.93% and a public stake of 18.50%.

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