Elgi Equipments logo

Elgi Equipments

ELGIEQUIP NSE

Key Fundamentals

SmallcapCompressors Pumps & Diesel EnginesIndustrial Products
Market Cap
₹19,547 Cr
Volatility
Moderate
P/E Ratio
43.72
EBITDA
₹697 Cr
Return on Equity
19.28%
Debt to Equity
0.24
Book Value
₹70.43
EPS
₹10.23
52W High
₹653.4
52W Low
₹408.25

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 20.0%

Weaknesses

2
  • Stock is trading at 8.77 times its book value
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
14.02% higher than 3Y
Net Income Growth
22.84% higher than 3Y
Cash Flow Change
16.01% lower than 3Y
ROE
2.72% lower than 3Y
ROCE
-1.84% higher than 3Y
EBITDA Margin (Avg.)
4.9% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Elgi Equipments Ltd is a mid-cap industrial products company with a market cap of ₹19,547 Cr, trading at a PE of 44x and 8.83x book value. The company has delivered a compounded profit CAGR of 22% over 10 years and maintains a consistent ROE of around 19-20%, while TTM sales growth stands at 16% and TTM profit growth at 28%.

Bull Case 7
  • Strong long-term profit compounding at 22% CAGR over 10 years, indicating sustained earnings momentum in the industrial compressor space
  • TTM profit growth of 28% significantly outpaces TTM sales growth of 16%, signaling meaningful margin expansion and operating leverage
  • Consistent ROE profile — 20% over 3-year and 5-year periods, 19% last year, and 17% over 10 years — reflects high-quality capital allocation
  • Compounded sales CAGR of 15% over 5 years and 11% over 10 years demonstrates steady top-line growth across business cycles
  • Stock price CAGR of 25% over 5 years and 20% over 10 years shows the market has consistently rewarded the company's execution
  • Healthy dividend payout ratio of 20.0% maintained consistently, with a current dividend yield of 0.43%, providing some return to shareholders while retaining capital for growth
  • TTM sales growth of 16% is an acceleration compared to the 3-year compounded sales CAGR of 9%, suggesting a recent pickup in demand or market share gains
Bear Case 7
  • PE ratio of 44x is elevated for an industrial products company, leaving limited margin of safety if growth slows from current levels
  • Price-to-book of 8.83x is significantly above typical industrial sector valuations, meaning much of the value is priced into future expectations
  • Potential capitalization of interest costs raises questions about the true representation of operating expenses and reported profitability
  • 3-year compounded sales CAGR of only 9% is notably lower than the 5-year figure of 15%, suggesting a period of subdued revenue growth in recent years before the TTM pickup
  • 3-year stock price CAGR of 8% significantly trails the 1-year return of 32%, indicating much of the recent re-rating has been concentrated in a short period and may not be sustainable
  • Dividend yield of 0.43% offers minimal income support at current valuations, providing little downside cushion in a correction
  • 3-year compounded profit CAGR of 11% is well below the 5-year figure of 31%, suggesting profit growth was uneven and may have included periods of stagnation

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 3
  • 25% US tariff headwind Aug 17

    Elgi faces a 25% US tariff on its products. Cost-reduction initiatives and price corrections are expected to offset impact from Q2/Q3 FY27.

  • Raw material inflation pressure Aug 20

    Management noted raw material cost increases, with price hikes to begin impacting results only from Q3 FY27, implying near-term margin pressure.

  • Australia/SEA execution risk Aug 17

    Prabhudas Lilladher flagged execution in Australia and Southeast Asia as a key monitorable for sustaining international growth momentum.

Positives 7
  • Q1 profit up 20%, margins expand Aug 20

    Q1 FY27 net profit rose 20% YoY to ₹1.03 billion on 18% revenue growth to ₹10.6 billion. EBITDA margins expanded to 14.62% on operating leverage.

  • Strong India and global growth Aug 17

    India revenue grew ~28% YoY, North America ~37%, and Europe ~21% in Q1 FY27, driven by industrials, aftermarket, EV, renewables and semiconductor segments.

  • $1.55M US tariff refund received Aug 29

    Elgi received a $1.55 million (₹14.82 crore) tariff refund from US Customs following Supreme Court directives.

  • VAYU brand targets MSME segment Aug 20

    Launched VAYU, a new Made-in-India compressor brand (5-45 kW range) targeting MSMEs with fixed and variable-speed options and nationwide service.

  • Accumulate rating, ₹638 target Aug 17

    Prabhudas Lilladher maintains Accumulate with ₹638 target based on 35x Mar'28E PE. Stock trading above 50 DMA (₹590.57) and 200 DMA (₹523.58).

  • 18% stake in solar SPV Aug 20

    Acquired 18.01% stake in Constronics Energy Solution Pvt Ltd for ₹1.62 crore to secure long-term renewable energy procurement and tariff visibility.

  • New SMP appointment Sep 01

    Appointed Vikas Thiruvalluru as Senior Management Personnel effective Sep 1, 2026. He brings 20+ years of global operations experience from Jayem Automotives.

Neutral 2
  • US subsidiary divests Gentex stake Sep 04

    Elgi Compressors USA divested its entire stake in Gentex Air Solutions LLC, releasing distribution exclusivity in the Texas market.

  • Crisil ESG rating of 58 Aug 25

    Received a Crisil Core ESG rating of 58 on Aug 24, 2026. The assessment was unsolicited and based solely on publicly available data.

TL;DR: Elgi Equipments delivered a strong Q1 FY27 with 20% profit growth, 14.62% EBITDA margins, and broad-based revenue expansion across India (+28%), North America (+37%), and Europe (+21%). Key risks include a 25% US tariff overhang and raw material inflation, though management expects price hikes and cost actions to improve margins from Q3 onward. The company is investing in new growth levers — VAYU brand for MSMEs, Demand Match technology, and renewable energy — while targeting ~18% EBITDA margin by FY31. The trend is improving, but tariff developments and international execution remain key watchpoints.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
724
806
822
866
801
869
848
993
867
968
1,003
1,113
1,062
Expenses
635
663
692
741
687
727
728
843
746
828
860
940
907
Operating Profit
89
143
129
125
114
142
119
150
121
140
144
173
155
OPM %
12%
18%
16%
14%
14%
16%
14%
15%
14%
14%
14%
16%
15%
Other Income
20
13
13
15
14
16
15
18
23
55
11
22
15
Interest
5
7
8
10
9
8
6
8
7
7
5
6
6
Depreciation
19
19
19
20
19
19
19
20
19
21
21
25
25
PBT
86
130
114
110
100
131
111
140
118
167
129
164
140
Tax %
29%
30%
27%
31%
27%
28%
27%
27%
27%
27%
26%
22%
26%
Net Profit
60
91
84
76
73
95
81
102
86
121
95
128
103
EPS in Rs
1.91
2.88
2.65
2.41
2.3
2.99
2.54
3.22
2.7
3.83
3
4.04
3.26
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,294
1,401
1,370
1,604
1,863
1,829
1,924
2,525
3,041
3,218
3,510
3,951
4,146
Expenses
1,204
1,274
1,229
1,426
1,669
1,692
1,707
2,227
2,604
2,727
2,982
3,368
3,534
Operating Profit
90
127
141
178
194
138
217
298
437
491
529
583
612
OPM %
7%
9%
10%
11%
10%
8%
11%
12%
14%
15%
15%
15%
15%
Other Income
32
6
14
10
11
14
25
54
175
60
63
110
103
Interest
17
14
9
7
11
17
15
15
24
34
34
30
24
Depreciation
37
44
45
44
51
65
74
74
78
77
76
86
92
PBT
68
75
100
137
144
70
153
263
510
440
482
577
599
Tax %
30%
32%
26%
30%
28%
39%
33%
32%
27%
29%
27%
25%
—
Net Profit
48
51
74
95
103
43
102
178
371
312
350
430
448
EPS in Rs
1.52
1.61
2.34
3.01
3.25
1.34
3.23
5.63
11.7
9.85
11.05
13.57
14.13
Div. Payout %
33%
31%
21%
20%
20%
61%
25%
20%
17%
20%
20%
20%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
16
16
16
16
16
32
32
32
32
32
32
Reserves
478
530
591
673
755
753
838
1,001
1,339
1,580
1,834
2,200
Borrowings
367
304
251
266
238
448
465
436
577
638
577
533
Other Liabilities
296
256
250
298
366
334
430
491
531
558
594
773
Total Liabilities
1,156
1,106
1,108
1,253
1,375
1,551
1,765
1,959
2,479
2,807
3,037
3,538
Fixed Assets
454
462
441
440
504
600
572
553
587
587
592
699
CWIP
10
2
4
2
6
4
4
7
3
10
53
136
Investments
15
15
15
15
14
12
24
31
37
41
81
165
Other Assets
677
627
648
795
851
935
1,165
1,367
1,852
2,170
2,312
2,539
Total Assets
1,156
1,106
1,108
1,253
1,375
1,551
1,765
1,959
2,479
2,807
3,037
3,538
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
78
126
126
47
172
35
240
69
166
285
391
454
Investing
-17
-16
-39
-53
-107
-152
-110
2
-217
-101
-283
-98
Financing
-52
-100
-77
-10
-60
91
-48
-81
60
-79
-217
-312
Net Cash Flow
10
10
9
-17
5
-25
82
-11
8
105
-109
43
Free Cash Flow
55
103
98
7
120
-6
211
44
109
243
298
348
CFO/OP
106
119
102
49
114
57
124
49
65
92
100
103
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
69
66
65
78
72
69
76
68
66
67
63
67
Inventory Days
132
106
109
110
99
128
122
130
143
145
129
134
Days Payable
82
79
83
86
87
78
103
86
75
80
72
87
Cash Conversion Cycle
119
92
91
102
83
119
95
112
135
132
121
114
Working Capital Days
28
34
36
39
38
36
23
36
28
27
30
42
ROCE %
8%
11%
13%
16%
16%
8%
13%
19%
24%
22%
22%
22%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Elgi Equipments insights

62 extracted metrics + investor summaries across FY08–FY26.

Log in — free

Shareholding Pattern

Promot.31.19%Public22.29%DIIs10.13%Others14.49%FIIs21.90%As ofJun 2026
0.87% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Elgi Equipments

What does Elgi Equipments Ltd do?
Incorporated in 1960, Elgi Equipments Limited along with its subsidiaries, is in the business of manufacturing and supplying Air Compressors ** & Automotive Equipments**. It is also providing related after sales services [1]
Where is Elgi Equipments Ltd (ELGIEQUIP) listed?
Elgi Equipments Ltd trades as ELGIEQUIP on the NSE and under code 522074 on the BSE.
Which sector does Elgi Equipments Ltd belong to?
Elgi Equipments Ltd is classified under the Industrial Products sector, in the Compressors Pumps & Diesel Engines industry.
What is the market capitalisation of Elgi Equipments Ltd?
Elgi Equipments Ltd has a market capitalisation of ₹19,547 Cr, which places it in the Mid Cap band.
What is the PE ratio of Elgi Equipments Ltd?
Elgi Equipments Ltd trades at a PE ratio of 43.72, on earnings per share of ₹10.23, against a book value of ₹70.43 per share.
What is the 52-week high and low of Elgi Equipments Ltd?
Over the last 52 weeks Elgi Equipments Ltd has traded between ₹408.25 and ₹653.4.
Does Elgi Equipments Ltd pay dividends?
Elgi Equipments Ltd has a dividend yield of 0.43%.
What is the Return on Equity (ROE) of Elgi Equipments Ltd?
Elgi Equipments Ltd reported a return on equity of 19.28%. Its debt-to-equity ratio is 0.24.

Company Information

Incorporated in 1960, Elgi Equipments Limited along with its subsidiaries, is in the business of manufacturing and supplying Air Compressors ** & Automotive Equipments**. It is also providing related after sales services [1]

Website elgi.com
CEO Dr. Jairam Varadaraj
Employees 2,138
Listed 1995-11-22
Face Value ₹ 1
Issued Size 31,69,09,016

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/ELGIEQUIP.md for Elgi Equipments Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Industrial Products → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List