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4-Traders Homepage  >  Equities  >  Nyse  >  Ingersoll-Rand PLC    IR   IE00B6330302

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Ingersoll-Rand Expects India Revenue To Grow 15%-20% Annually

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04/11/2012 | 12:55pm CEST

Ingersoll-Rand PLC (>> Ingersoll-Rand PLC) expects its Indian unit's revenue to grow 15%-20% annually over the next several years, driven by the introduction of its consumer air-conditioning brand Trane and rising demand for its industrial products, Chairman Michael Lamach said Wednesday.

In 2011, Ingersoll-Rand India Ltd. (500210.BY) posted revenue of $250 million.

The Ireland-based company that sells brands such as the American Standard, Thermo King and Schlage gets two-thirds of its revenues from the U.S. and about 12% from India.

In an analyst conference on March 12, Lamach said 40% of the company's businesses had yet to rebound from the severe declines that occurred during the U.S. economic recession. Many of these businesses are dependent on residential and commercial construction, which is recovering slower than other business sectors in the U.S.

At a press conference Wednesday, Lamach said in 2011, around two-thirds of Ingersoll-Rand's revenue growth came in from emerging economies such as China, India and South American countries.

Its global revenue increased 6% to $14.8 billion in 2011.

He said the company's strategy is to localize manufacturing in emerging economies to lower costs and keep product prices competitive.

In India, Lamach said the company had announced a $100 million investment three years back. "We are continuing that investment program. Once all of it is invested, we will suss out what to do next."

Ingersoll-Rand India Chairman Venkatesh Valluri said the company is investing $22 million in building the first phase of a plant in the southern city of Chennai. "The plant will be ready (for operations) in 2013."

-By Prasenjit Bhattacharya, Dow Jones Newswires; 91-11-4356-3358; prasenjit.bhattacharya@dowjones.com

Stocks mentioned in the article : Ingersoll-Rand PLC
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Financials ($)
Sales 2016 13 505 M
EBIT 2016 1 585 M
Net income 2016 1 319 M
Debt 2016 2 574 M
Yield 2016 1,89%
P/E ratio 2016 14,22
P/E ratio 2017 15,36
EV / Sales 2016 1,50x
EV / Sales 2017 1,43x
Capitalization 17 709 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 74,5 $
Spread / Average Target 8,5%
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NameTitle
Michael W. Lamach Chairman, President & Chief Executive Officer
Keith Sultana Senior Vice President-Global Operations
Susan K. Carter Chief Financial Officer & Senior Vice President
Paul A. Camuti Chief Technology Officer & Senior VP-Innovation
Stephen Hagood Chief Information Officer & Vice President
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