Elgi Equipments logo

Elgi Equipments

ELGIEQUIP NSE

Key Fundamentals

SmallcapCompressors Pumps & Diesel EnginesIndustrial Products
Market Cap
₹18,748 Cr
Volatility
Moderate
P/E Ratio
41.38
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 8.30 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

5d ago
AI opinion · based on fundamentals
Risk medium

Elgi Equipments has a market capitalisation of about ₹19,110 crore and trades at a P/E of 43 and a P/B of 8.64. Its ROE has held near 20% over the last 3 and 5 years. Trailing-twelve-month sales grew 16% and profit grew 28%, faster than the 3-year compounded rates of 9% for sales and 11% for profit. The stock has returned 24% over 1 year but only 6% annualised over 3 years, as the valuation multiple has shifted relative to earnings growth.

Bull Case 7
  • Over 5 years, profit has compounded at 31% a year while sales compounded at 15%. Profit growing about twice as fast as revenue points to significant margin expansion and operating leverage.
  • Growth has picked up recently. TTM sales growth of 16% and profit growth of 28% are well above the 3-year compounded rates of 9% for sales and 11% for profit.
  • Return on equity has been steady at 20% over both the 3-year and 5-year periods, up from a 10-year average of 17%. That suggests capital efficiency has structurally improved.
  • Over 10 years, profit has compounded at 22% and the stock at 20% a year. Shareholder returns have broadly tracked earnings growth rather than depending only on the valuation multiple rising.
  • Over 10 years, sales compounded at 11% and profit at 22%. Profits pulling ahead of revenue over a full decade suggests ongoing gains in mix, pricing or cost efficiency.
  • The company has kept a dividend payout of about 20% while still funding growth, which reflects steady cash generation.
  • The stock returned 24% over the past year, in line with 5-year TTM-level profit momentum of 28%. This suggests the market is recognising the recent pickup in earnings.
Bear Case 8
  • At a P/B of 8.64, the stock trades at a steep premium to book value. It is flagged separately at 8.56x book, which leaves little room for disappointments in execution.
  • A P/E of 43 compared with a 3-year profit CAGR of 11% implies a PEG ratio of roughly 3.9. The valuation depends on the recent 28% TTM profit growth continuing.
  • The 3-year stock CAGR of just 6% trails 3-year profit growth of 11%. This shows the multiple has already compressed once, and it could compress again if growth slows.
  • Medium-term revenue growth has slowed. The 3-year sales CAGR of 9% is well below the 5-year rate of 15%, so the recent 16% TTM growth has only a short track record so far.
  • The company may be capitalising interest cost. That can lift reported profits and weakens comparisons with the 28% TTM profit growth figure.
  • The dividend yield of 0.44% is low, so investors get little income cushion if the 43x earnings multiple de-rates.
  • Last year's ROE of 19% came in slightly below the 3-year and 5-year average of 20%. This could be an early sign that returns are plateauing.
  • Compressor demand in the industrial capital goods sector is cyclical. The swing between 9% 3-year sales growth and 16% TTM growth shows how revenue can vary with the industrial capex cycle.

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

AI News Digest

23h ago
Neutral 1
  • Exits Gentex Air Solutions stake Sep 4

    Elgi Compressors USA Inc., the US subsidiary of Elgi Equipments, sold its entire stake in Gentex Air Solutions LLC. The sale ends the exclusivity Elgi Compressors USA held in Texas, which changes how the company distributes or partners in that market.

TL;DR: Only one development was provided: the Sep 4 sale of the US subsidiary's full stake in Gentex Air Solutions LLC, which ends its Texas exclusivity. No deal value or financial impact was disclosed, and the deal looks like a restructuring of distribution, so it is treated as neutral. Losing exclusivity could free Elgi to appoint several dealers or sell directly in Texas, but it could also disrupt sales there for a while. Watch upcoming quarterly results for how US revenue and the Texas channel perform after the sale.

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–FY27.

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 ₹18,748 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 41.38, 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 0.44%.
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