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Elgi Equipments

ELGIEQUIP NSE
₹562.05 +29.65 (+5.57%)
P/E
39.78
View as Markdown
MCP
Close 4 Nov 2026 ₹562.05 +78.65 +16.3% 1Y
Start ₹483.40

Key Fundamentals

SmallcapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
22.10%
Debt to Equity
0.24
EPS (TTM)
₹14.13
Book Value
₹70.43
Market Cap
—
P/E (TTM)
39.78
P/B
7.98
ROE
19.00%
Dividend Yield
0.51%
EBITDA
₹697 Cr
52W High
₹653.40
52W Low
₹408.25
Day Range
₹524.40 – ₹568.05
Volume
3,80,087

Peer Comparison

Industrials › Industrial Products › Compressors Pumps & Diesel Engines › Compressors, Pumps & Diesel Engines

Elgi Equipments peer comparison
Cummins
₹4,725.7055.34₹1,27,886 Cr15.461.42%30.20%39.50%₹12,662 Cr₹2,366 Cr
Kirloskar Oil Engines
₹1,802.0047.96₹25,029 Cr7.250.41%17.50%14.60%₹7,937 Cr₹534 Cr
Elgi Equipments (this company)
₹562.0539.78₹17,070 Cr7.980.51%19.00%22.10%₹4,146 Cr₹447 Cr
Kirloskar Brothers
₹1,715.7036.49₹13,785 Cr5.300.40%17.30%20.40%₹4,664 Cr₹377 Cr
Ingersoll Rand
₹4,045.8047.74₹12,935 Cr20.741.82%43.00%57.10%₹1,457 Cr₹267 Cr
KSB
₹659.2046.72₹11,469 Cr6.760.66%18.40%24.70%₹2,726 Cr₹246 Cr
Kirloskar Pneumatic Company
₹574.2028.19₹7,179 Cr5.792.18%22.70%30.30%₹1,788 Cr₹264 Cr
Median 7 companies₹1,715.7046.72₹13,785 Cr7.250.66%19.00%24.70%₹4,146 Cr₹377 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

54 Average

Data confidence 100/100

Category scores

Quality
68
Strong
Returns, margins, earnings quality 22% weight
Valuation
49
Average
Cheap vs sector & own history 24% weight
Growth
48
Average
Sales & profit trajectory 9% weight
Financial Health
68
Strong
Solvency, leverage, coverage 9% weight
Momentum
37
Weak
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

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

Weaknesses

2
  • Stock is trading at 8.22 times its book value
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish658
OscillatorsNeutral252
Moving AveragesStrong Bullish406

Key readings

RSI (14)
52.72
Neutral
MACD (12,26,9)
−17.24
Bullish
SMA (50)
587.07
Bearish
SMA (200)
552.63
Bullish

As of

Analyst Rating

Based on 4 analysts
BUY100%

4 of 4 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
4
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+10.92%
5Y+15.48%
3Y+9.12%
1Y+12.56%
TTM+15.91%

Net profit

Net profit growth by window
10Y+23.76%
5Y+33.34%
3Y+5.04%
1Y+22.86%
TTM+22.80%

Operating cash flow

Operating cash flow growth by window
10Y+13.68%
5Y+13.60%
3Y+39.85%
1Y+16.11%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+5.70 pp
5Y+3.48 pp
3Y+0.39 pp
1Y−0.31 pp
TTM−0.11 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,370 Cr
Mar 2018₹1,604 Cr
Mar 2019₹1,863 Cr
Mar 2020₹1,829 Cr
Mar 2021₹1,924 Cr
Mar 2022₹2,525 Cr
Mar 2023₹3,041 Cr
Mar 2024₹3,218 Cr
Mar 2025₹3,510 Cr
Mar 2026₹3,951 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹74.00 Cr
Mar 2018₹95.00 Cr
Mar 2019₹103 Cr
Mar 2020₹43.00 Cr
Mar 2021₹102 Cr
Mar 2022₹178 Cr
Mar 2023₹371 Cr
Mar 2024₹312 Cr
Mar 2025₹350 Cr
Mar 2026₹430 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹168 Cr −1.3% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk medium

Elgi Equipments Ltd trades at ₹562.05 as of 2026-11-04 with a market cap of ₹17,070.3 crore. The company demonstrates strong profitability with an ROCE of 25.66% and low leverage at a debt-to-equity ratio of 0.24, though its valuation at 39.78x trailing earnings and 7.98x book value reflects a significant premium to book.

Bull Case 8
  • Strong long-term profit compounding at 22% CAGR over 10 years and 31% CAGR over 5 years, indicating sustained earnings momentum
  • ROCE of 25.66% signals efficient capital deployment and strong competitive positioning in the industrial products space
  • Low debt-to-equity ratio of 0.24 provides financial flexibility and reduces balance sheet risk
  • TTM sales growth of 16% and TTM profit growth of 28% show revenue translating into even faster bottom-line expansion, suggesting improving margins
  • Consistent ROE averaging 20% over both 3-year and 5-year periods, with the last year at 19%, reflects durable return generation
  • Company has maintained a healthy dividend payout of 20.0%, returning capital to shareholders while retaining enough for growth
  • Stock has compounded at 23% CAGR over 5 years and 19% CAGR over 10 years, demonstrating long-term wealth creation
  • 10-year sales CAGR of 11% alongside 22% profit CAGR indicates operating leverage and improving cost efficiencies over time
Bear Case 8
  • PE of 39.78x on a TTM basis prices in substantial future growth, leaving limited room for execution missteps
  • Stock trades at 7.98x book value, well above typical industrial sector multiples, raising the risk of valuation compression
  • 3-year stock CAGR of only 6% despite solid underlying earnings growth suggests the market may have already priced in fundamentals at earlier elevated levels
  • 3-year sales CAGR of 9% is notably slower than the 5-year CAGR of 15%, hinting at a possible deceleration in top-line momentum
  • 3-year profit CAGR of 11% is significantly below the 5-year figure of 31%, suggesting the pace of earnings expansion may be normalizing
  • The company might be capitalizing interest costs, which could overstate reported profitability and asset values
  • Dividend yield of 0.51% offers minimal income cushion, meaning returns depend almost entirely on capital appreciation
  • Stock is approximately 14% below its 52-week high of ₹653.4, indicating recent selling pressure or sentiment deterioration

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

AI News Digest

32d ago

TL;DR: The only recent news for Elgi Equipments is a small change to its US distribution setup. Its US subsidiary sold its stake in Gentex Air Solutions LLC and gave up its Texas exclusivity. The article gives no transaction value or financial impact, so it is hard to call this good or bad. It could free Elgi to work with more partners in Texas, or it could cause short-term disruption there. Investors should watch upcoming quarterly results and management commentary for how the US business, a key overseas market, adjusts to the new Texas distribution model.

Neutral 1
  • US arm exits Gentex Air stake Sep 4

    Elgi Compressors USA Inc., Elgi Equipments' US subsidiary, sold its entire stake in Gentex Air Solutions LLC. The deal releases the exclusivity Elgi Compressors USA held in Texas, which changes how the company distributes in that market.

Quarterly Results

₹ Cr
ELGIEQUIP quarterly results, ₹ crore
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
11.7
11.18
15
14
14.13
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
129
114
110
100
131
111
140
118
167
129
164
138
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 (₹)
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

Profit & Loss

₹ Cr
ELGIEQUIP profit and loss, annual, ₹ crore
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 (₹)
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%
—

Balance Sheet

₹ Cr
ELGIEQUIP balance sheet, annual, ₹ crore
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

Cash Flow

₹ Cr
ELGIEQUIP cash flow, annual, ₹ crore
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

Ratios

ELGIEQUIP financial ratios, annual
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 across FY09–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 31.19%
  • Public 22.99%
  • FIIs 20.20%
  • Others 14.14%
  • DIIs 11.47%

0.87% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

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
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 PE ratio of Elgi Equipments Ltd?
Elgi Equipments Ltd trades at a PE ratio of 39.78 as of 4 Nov 2026, on earnings per share of ₹14.13, 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 as of 4 Nov 2026.
Does Elgi Equipments Ltd pay dividends?
Elgi Equipments Ltd has a dividend yield of 0.51%.
What is the Return on Equity (ROE) of Elgi Equipments Ltd?
Elgi Equipments Ltd reported a return on equity of 19.00%. 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

Website elgi.com
CEO Dr. Jairam Varadaraj
Employees 2,138
Listed 22 Nov 1995
Face Value ₹1

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