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Ingersoll-Rand (India) Limited (INGERRAND) Fair Value & Analysis

Industrials · IN · Market cap ₹149B

IR Ingersoll-Rand (India) Limited INGERRAND · BSE
Price₹4,709
Fair Value₹1,135
Upside-75.9%
Quality79/100
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Strengths

Healthy Growth
Solidly profitable · 19.7% net margin
generates free cash flow
Wide moat 84/100

Risks

!Trades 76% ABOVE our fair value of ₹1,135
Healthy Growth
Solidly profitable · 19.7% net margin
generates free cash flow
1.73% dividend yield
Wide moat 84/100
Evidence: High Range ₹720.59 – ₹1,722 Share as image

Fair value as of: Aug 21, 2026

From 24 valuation models · updated today

Share price +4.2% over the past month.

A strong business, but screening 76% overvalued on our models.

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What matters now

  • A high-quality business (quality 79/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹1,722). The favourable scenario is already priced in.
  • A fairly wide model range (₹720.59 to ₹1,722) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹4,709 ₹614.66 Fair Value ₹1,135 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹614.66 – ₹4,709 · fair‑value band ₹720.59 – ₹1,722 · the ₹4,709 price screens above the ₹1,135 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Ingersoll-Rand (India) Limited (INGERRAND) currently trades at ₹4,709, while our model-based Fair Value estimate is ₹1,135, implying the stock looks roughly 75.9% overvalued today. The Quality Score stands at 79/100 (high quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Ingersoll-Rand (India) Limited generated revenue of ₹13.4B at a net margin of 19.7%. Revenue declined 0.1% year over year. It earns a return on equity of 41.1%. The stock trades on a trailing P/E of 56.2. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹720.59 (bear case) to ₹1,722 (bull case); at ₹4,709, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at -76%, INGERRAND screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹130.68 to ₹2,111). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹634.78 ₹954.11 ₹12,170 76
Growth DCF ₹798.58 ₹1,281 ₹2,059 72
Growth-Adj P/E ₹933.64 ₹1,334 ₹1,734 68
All 24 models by family
DCF Models
FCF DCF ₹794.26 ₹1,294 ₹2,105 38
Owner Earnings ₹784.64 ₹1,278 ₹2,079 31
5Y Revenue Exit ₹652.34 ₹1,028 ₹1,518 39
5Y EBITDA Exit ₹899.13 ₹1,512 ₹2,253 41
5Y P/E Exit ₹1,068 ₹1,842 ₹2,693 38
10Y Revenue Exit ₹677.63 ₹1,042 ₹1,556 36
10Y EBITDA Exit ₹855.53 ₹1,386 ₹2,141 37
10Y P/E Exit ₹965.02 ₹1,621 ₹2,492 35
Earnings-Based
Graham-Dodd ₹551.51 ₹2,111 ₹2,860 54
Lynch FV ₹514.36 ₹734.80 ₹955.24 50
PEG = 1.0 ₹514.36 ₹734.80 ₹955.24 46
EPV ₹786.21 ₹908.93 ₹1,016 59
Multiples
P/E Multiple ₹1,277 ₹1,703 ₹2,129 63
P/S Multiple ₹652.04 ₹869.38 ₹1,087 58
P/B Multiple ₹658.28 ₹877.70 ₹1,097 55
EV/EBIT ₹1,293 ₹1,707 ₹2,121 53
EV/EBITDA ₹1,047 ₹1,379 ₹1,712 54
EV/Revenue ₹597.61 ₹832.34 ₹1,067 43
Asset-Based
NCAV (Graham) ₹97.52 ₹130.68 ₹195.04 50
Growth DCF
Growth DCF ₹798.58 ₹1,281 ₹2,059 72
Rev-Margin DCF ₹652.34 ₹1,027 ₹1,484 67
Economic Profit
Residual Income ₹634.78 ₹954.11 ₹12,170 76
ROIC Compounder ₹835.48 ₹1,027 ₹1,240 67
Growth Earnings
Growth-Adj P/E ₹933.64 ₹1,334 ₹1,734 68

Widest divergence: Growth Earnings (₹1,334) versus Asset-Based (₹130.68). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹13.4B
Revenue growth (YoY) -0.1%
Net margin 19.7%
Return on equity 41.1%
Free cash flow ₹2.0B FY2026
P/E ratio 56.2
More key figures
Operating margin 22.5%
EPS (TTM) ₹83.76
Dividend yield 1.7%

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 79/100

Of which business quality 76 · Market factors (momentum, volatility) 75

Profitability 95
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Ingersoll-Rand (India) Limited manufactures and sells industrial air compressors in India. The company offers heatless desiccant dryer; heat of compression dryers; high pressure air compressors; small and large reciprocating air-cooled and water-cooled; contact cooled rotary screw and oil free rotary screw; engine driven compressors; centrifugal …

Full company description

Ingersoll-Rand (India) Limited manufactures and sells industrial air compressors in India. The company offers heatless desiccant dryer; heat of compression dryers; high pressure air compressors; small and large reciprocating air-cooled and water-cooled; contact cooled rotary screw and oil free rotary screw; engine driven compressors; centrifugal compressors; and cycling, non cycling refrigerated dryers. It sells its products under the Nash, CompAir, Ingersoll Rand, Gardner Denver, ARO, Thomas, MILTON TRO, EMCO WHEATON, Elmo Rietschle, ROBUSCHI, Runtech Systems, EVEREST, and ILC DOVER brand names. The company serves aerospace; chemical; plastics and rubber; consumer, electronics and semiconductor; engineered solution; hydrogen; environmental; food and beverages; general manufacturing; government and military; industrial gases; marine; mining and construction; oil and gas; PET bottle blowing; pharma, life sciences, and laboratories; power generation; professional; pulp, paper, and printing; transportation and logistics; water and waste water treatment; and engineering project solutions industries. It also exports its products to the American, Asian, and European countries. Ingersoll-Rand (India) Limited was incorporated in 1921 and is based in Bengaluru, India. Ingersoll-Rand (India) Limited is a subsidiary of Ingersoll-Rand Industrial US Inc.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Ingersoll-Rand (India) Limited reported revenue of ₹13.7B in FY2026 versus ₹9.0B in FY2022, a compound +11.2%/yr. Reported net income was ₹2.6B in FY2026, compounding +23.5%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹13.7B
Latest YoY
+4.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.0%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.7%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.5%
Revenue +11.2%/yr
FY22 ₹9.0B
FY23 ₹11.5B
FY24 ₹11.8B
FY25 ₹13.2B
FY26 ₹13.7B
Net income +23.5%/yr
FY22 ₹1.1B
FY23 ₹1.8B
FY24 ₹2.2B
FY25 ₹2.7B
FY26 ₹2.6B

INGERRAND screens 76% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Ingersoll-Rand (India) Limited Fair Value". https://www.fairvalue-calculator.com/stock/INGERRAND

Peer Group

Specialty Industrial Machinery · 815 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 80 · Top 25%
Fair Value upside −76% · Bottom 25%
Return on equity (TTM) 41% · Top 25%
Return on assets 23% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth -0% · Below median
Dividend yield (TTM) 1.7% · Above median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 56.2× · Pricier than 75% of peers
P/B 24.14× · Pricier than 75% of peers
P/S (TTM) 11.08× · Pricier than 75% of peers
P/FCF 0.8× · Cheaper than 75% of peers
EV/EBITDA 40.9× · Pricier than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

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Bharat Heavy Electricals Limited BHEL ₹425.20 ₹78.13 -82%
Siemens Limited SIEMENS ₹4,019 ₹746.83 -81%
Airtac International Group 1590 1,470 TWD 853.70 TWD -42%
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Frequently asked questions

Is Ingersoll-Rand (India) Limited (INGERRAND) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹1,135 versus a price of ₹4,709, about −76% (overvalued).
What is the fair value of INGERRAND?
Our model-based fair value for Ingersoll-Rand (India) Limited is ₹1,135 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹4,709.
What is the quality score of INGERRAND?
Ingersoll-Rand (India) Limited has a Quality Score of 79/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ingersoll-Rand (India) Limited (INGERRAND)?
Ingersoll-Rand (India) Limited reported trailing-twelve-month revenue of about ₹13.4B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of INGERRAND?
The net profit margin of Ingersoll-Rand (India) Limited is about 19.7%, meaning it keeps roughly 19.7% of revenue as net income. Based on the latest reported figures.
Does Ingersoll-Rand (India) Limited pay a dividend?
Ingersoll-Rand (India) Limited currently shows a dividend yield of about 1.73% relative to its recent price (as of Aug 21, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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