Elgi Equipments Ltd.

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elgi.comBSE: 522074NSE: ELGIEQUIP

Market Cap₹ 19,601 Cr.

Current Price

High / Low₹ 653 / 408

Stock P/E43.8

Book Value₹ 73

Price to Book6.67

Dividend Yield0.44 %

ROCE24.4 %

ROE21.1 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Compressors: 91.4% • Automotive Equipments: 8.6%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 33.2% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 23.6%
Company has a good return on equity (ROE) track record: 3 Years ROE 20.7%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 15.5% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.03x)

CONS

Stock is trading at 6.7x its book value
Growth is decelerating - 3Y profit CAGR (5.1%) trails the 5Y trend (33.2%)
Expensive relative to growth - PEG of 8.6

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsCompressors / Pumps

Part ofNIFTY TOTAL MKT NIFTY SML250 Q50 NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	ELGIEQUIP	618.50	43.76	19600.82	0.44	103.30	20.68	1062.20	22.56	24.39	14.79
2.	INGERRAND	4572.00	53.95	14432.89	1.64	70.46	19.46	379.46	20.34	56.31	23.78
3.	KIRLOSBROS	1785.00	37.96	14174.49	0.39	67.60	0.15	1104.90	12.86	19.79	10.56
4.	KSB	802.95	56.92	13974.48	0.55	57.20	-18.75	690.70	3.60	22.98	12.42
5.	KIRLPNU	719.80	35.57	9352.10	0.83	332.00	31.23	3031.00	7.60	28.95	15.04
6.	DYNAMATECH	12095.45	193.60	8214.56	0.08	20.79	93.04	424.81	14.53	8.88	12.97
7.	SHAKTIPUMP	493.65	28.69	6091.54	0.20	51.59	-46.72	858.67	37.94	23.76	9.65
8.	WPIL	435.00	25.05	4248.68	0.46	59.01	129.24	500.54	32.21	17.32	17.29
9.	OSWALPUMPS	282.75	9.61	3223.49	0.00	54.14	-42.82	473.56	-7.86	78.75	15.74
10.	YUKEN	1112.70	96.67	1511.49	0.13	5.21	28.60	134.33	28.48	7.59	11.01
11.	ROTO	64.19	43.66	1209.63	0.30	92.46	1368.32	755.96	1047.48	20.48	20.08
12.	LATTEYS	21.80	35.25	125.34	0.00	1.39	182.11	38.91	59.21	12.97	6.14

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	724	806	822	866	801	869	848	993	867	968	1,003	1,113	1,062
	635	663	692	741	687	727	728	843	746	828	860	938	938
Operating Profit	89	143	129	125	114	142	120	150	121	140	144	174	125
OPM %	12.25%	17.71%	15.75%	14.46%	14.23%	16.30%	14.10%	15.10%	13.97%	14.45%	14.34%	15.66%	11.73%
	18	12	11	15	14	14	13	17	20	51	10	22	28
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
Profit before Tax	83	129	113	110	100	128	109	139	115	164	127	165	140
Tax %	30.40%	30.01%	27.03%	30.62%	27.23%	28.04%	27.62%	27.51%	27.99%	27.87%	26.51%	21.66%	25.95%
Net Profit	0	0	0	0	73	95	81	102	86	121	95	128	103
	1.91	2.89	2.65	2.42	2.30	2.99	2.55	3.23	2.71	3.83	3.01	4.06	3.28

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,370	1,605	1,863	1,829	1,924	2,525	3,041	3,218	3,510	3,951	4,146
	1,229	1,428	1,670	1,692	1,707	2,229	2,604	2,727	2,982	3,368	3,564
Operating Profit	141	178	194	138	217	296	437	491	529	583	583
OPM %	10.27%	11.06%	10.40%	7.52%	11.29%	11.73%	14.38%	15.25%	15.07%	14.76%	14.05%
	12	9	10	13	23	55	173	55	58	103	111
Interest	9	7	11	17	15	15	24	34	34	30	24
Depreciation	45	44	51	65	74	74	78	77	76	86	92
Profit before Tax	100	137	144	70	153	263	510	440	482	577	596
Tax %	26.33%	30.24%	28.18%	38.81%	32.91%	32.16%	27.35%	29.13%	27.28%	25.49%	25.41%
Net Profit	74	95	103	43	102	178	371	312	350	430	444
EPS	4.67	6.02	6.51	1.34	3.24	5.63	11.71	9.85	11.05	13.57	—
Dividend Payout %	21.41%	19.96%	19.99%	61.42%	24.74%	20.43%	17.09%	20.31%	19.91%	19.90%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 15%
3 Years:: 9%

COMPOUNDED PROFIT GROWTH

10 Years:: 24%
5 Years:: 33%
3 Years:: 5%

STOCK PRICE CAGR

10 Years:: 20%
5 Years:: 25%
3 Years:: 7%
1 Year:: 32%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 22%
3 Years:: 21%
Last Year:: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16	16	16	16	32	32	32	32	32	32
	591	673	755	753	838	1,000	1,338	1,576	1,828	2,189
	257	267	238	441	451	394	554	598	540	485
Trade Payables	171	213	247	209	289	319	314	345	337	460
	72	84	119	120	143	203	233	236	271	336
Total Liabilities	1,108	1,253	1,375	1,539	1,752	1,947	2,470	2,787	3,007	3,502
	437	424	488	583	555	536	583	582	587	695
Capital Work in Progress	4	1	5	4	4	7	3	10	53	136
	15	15	14	12	24	31	37	41	81	165
	226	274	279	343	343	483	602	622	608	711
	0	0	0	0	0	472	0	593	608	724
Cash & Bank	106	109	110	86	262	220	351	774	874	718
	320	430	479	510	564	199	895	164	195	354
Total Assets	1,108	1,253	1,375	1,539	1,752	1,947	2,470	2,787	3,007	3,502

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	144	87	222	78	269	69	285	285	391	454
Cash from Investing	-39	-53	-107	-152	-110	2	-217	-101	-283	-98
Cash from Financing	-77	-10	-60	91	-48	-81	60	-79	-217	-312
	9	-17	5	-25	82	-11	8	105	-109	43

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31.19	31.19	31.19	31.19	31.19	31.19	31.19	31.19	31.19
	28.51	28.44	28.44	28.12	26.84	25.37	22.36	21.45	21.89
	5.00	5.04	5.07	4.98	5.23	6.24	8.08	9.08	10.12
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	34.34	34.36	34.33	34.74	35.97	36.44	37.61	37.53	36.78

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Diversification/Disinvestment

2026-09-04 - Elgi Equipments Limited has informed the Exchange about Diversification/Disinvestment

2026-09-01

Appointment

2026-09-01 - Elgi Equipments Limited has informed the Exchange regarding Appointment of Mr Vikas Thiruvalluru as Senior Management Personnel of the company w.e.f. September 01, 2026.

2026-08-29

General Updates

2026-08-29 - Elgi Equipments Limited has informed the Exchange about General Updates

2026-08-28

Copy of Newspaper Publication

2026-08-28 - Elgi Equipments Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-25

Credit Rating

2026-08-25 - Elgi Equipments Limited has informed the Exchange about Credit Rating

2026-08-20

Acquisition

2026-08-20 - Elgi Equipments Limited has informed the Exchange about Acquisition

2026-08-20

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-20 - Elgi Equipments Limited has informed the Exchange about Transcript

2026-08-20

Press Release

2026-08-20 - Elgi Equipments Limited has informed the Exchange regarding a press release dated August 20, 2026, titled "VAYU Launches in India, Bringing Made-in-India Compressed Air Solutions to Growing Manufacturers".

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Elgi Equipments Limited has informed the Exchange about Link of Recording

News

Recent coverage and analyst commentary for ELGIEQUIP

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