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Elgi Equipments Ltd Performance

Today's Low
613.00
arrowIcon
Today's High
633.50
52 Wk Low
428.50
arrowIcon
52 Wk High
714.20


Open

624.05

Traded Value (Cr)

5.49 Cr

Prev. Close

625.95

VWAP

624.41

Volume

1,42,217

Face Value

1

Elgi Equipments Ltd Fundamentals

Market Cap
₹ 19,592 Cr
P/E Ratio (TTM)
48.30
P/B Ratio
13.40
Debt to Equity
0.43
ROE
27.49 %
EPS (TTM)
12.80
Dividend Yield
0.32%
Book Value
46.14

Click here to know more about Fundamentals

Elgi Equipments Ltd Financials

Elgi Equipments Ltd Financials

Elgi Equipments Ltd Shareholding Pattern

Held By Mar 2024 Dec 2023 Sep 2023 Jun 2023
Promoters 31.19 % 31.19 % 31.19 % 31.19 %
FII 29.54 % 29.02 % 28.82 % 29.33 %
Retail 20.79 % 21.42 % 21.66 % 21.29 %
Others 15.03 % 14.92 % 15.00 % 14.87 %
Mutual Funds 3.44 % 3.45 % 3.33 % 3.31 %

Promoters

31.19%

FII

29.54%

Retail

20.79%

Others

15.03%

Mutual Funds

3.44%

Promoters

31.19%

FII

29.02%

Retail

21.42%

Others

14.92%

Mutual Funds

3.45%

Promoters

31.19%

FII

28.82%

Retail

21.66%

Others

15.00%

Mutual Funds

3.33%

Promoters

31.19%

FII

29.33%

Retail

21.29%

Others

14.87%

Mutual Funds

3.31%

Resistance and Support

₹602.83

PIVOT

resistance-arrow
Resistance
First Resistance₹611.467
Second Resistance₹626.033
Third Resistance₹634.667
support-arrow
Support
First Resistance₹588.267
Second Resistance₹579.633
Third Resistance₹565.067
RSI62.186
MACD13.832
ADX19.447
CCI29.719

Delivery and Volume

PeriodDelivery Volume Traded Volume Delivery Volume %
Day142,21734,24638.92
Week338,962113,98752.63
1 Month551,744137,87243.64
6 Months142,21755,08438.73

About Elgi Equipments Ltd

Elgi Equipments Limited (EEL) was incorporated on 4th March, 1960 as a Private Limited Company, Elgi Equipments was converted into a Public Limited Company in 1975 and came out with a Public Issue of 75,000 shares. It was promoted by L G Balakrishnan, his Bros. and Associates. Presently, the Company is engaged in manufacture, trading of air compressors and providing after sales services. The Company has manufacturing plants in Coimbatore, India. As part of its modernisation plans, the company invested Rs 40 crores in the upgradation and expansion of the manufacturing facilities, especially of compressors. The company was initially manufacturing garage equipment like low-range reciprocating compressors, car-washing machines and hydraulic lifts, with technical know-how from Pumpen Fabrik Urach, Germany. Later, in technical collaboration with Landwehr, Germany, the company started manufacturing lubricating equipment. During 2003-04, the company included three new products namely, Vayu Series Borewell Compressors, 3.5KVA Genset and Electronic Tyre Inflator. In the year 2004-05, the company commissioned its first Four Centrifugal Compressor and Tank Mounted Screw Compressor. The company has obtained the technology for the manufacture of pasteurising plants from Gobel, Germany; screw compressors from Sullair Corporation, the US; bottle-washing machines from Krones, Germany; and automatic vehicle- washing machines from Ceccato, Italy. To strengthen its technologies, the company has tied up with City University, London, and hired consultants to help improve its products and processes. In 1999-2000, a branch office was established in SriLanka to explore the Sri Lankan market. During 2004-05, the company entered the petrol or kerosine engine business through an association with Robinson of Japan via their associates in Sri Lanka. In Aug. 2000, Elgi Equipments has entered into technical collaborations with Hitachi to produce Oil Free Air Compressors in India. It has also tied up with Samsung Techwin Co Ltd, an affiliate of the Samsung group, to bring to India their centrifugal compressor - Turbo Master. To upgrade automotive equipment and also to manufacture Compressors with higher capacities and pressures the company has launched a joint technology upgradation plan with City University UK. During 2002-03 the total capital expenditure incurred were Rs.78.12 million and the captial expenditure were funded by way of internal accruals. In the year 2004, the company has entered into a Collaborative Venture with JP Sauer & Sohn, Germany to envisage the manufacturing of compressor required for Battle ships. The company made an arrangement with Mahindra & Mahindra for supplying the engines for their gensets in 2004-05. During the financial year ended 31 March 2014, Elgi Equipments incurred Capital Expenditure of Rs 917.23 million, of which Rs 584.30 million pertained to plant and machinery through internal accruals. During the year under review, the company's new foundry commenced commercial production. This backward integration was done primarily to improve the quality of the company's products. This has been achieved in significant measure besides the added benefit of having a lower cost source for castings. In spite of uncertain market conditions in the domestic market during the year, the company retained its market share and pushed ahead in some segments. In the international market, the company's new range of products was well received in all markets and able to make a mark in a very short time. This has been particularly observed in the European and American markets. On the other hand, the company faced significant challenges in creating a robust distribution channel in Asian markets. In spite of this, some significant milestones were achieved, the most important being the creation of multiple reference installations for oil free screw compressors. During the year under review, in spite of extreme sluggishness in the automotive sector, Elgi Equipments' subsidiary ATS Elgi Limited sustained its market share throughout the year. During the financial year ended 31 March 2015, Elgi Equipments' manufacturing facility at the new site became fully operational. This has been achieved with little disturbance to regular production and at least cost. Elgi Equipments continued to perform well in the Middle East and African markets, especially with smart growth in industrial compressors. Consequent to Elgi Equipments' decision to restructure its China (Shanghai and Zhejiang) operations by closing down Elgi Compressors Trading (Shanghai) Co Limited and continue to carry on trading operations in Elgi Compressors Zhejiang Limited, the company has written down the value of the investments, advances and receivables relating to Chinese operations to an extent of Rs. 551.76 million, accounting it as an exceptional item to the Statement of Profit and Loss for the financial year ended 31 March 2016.The company's business operations were severely affected in China due to the economic slowdown and hence the company took a decision to restructure the operations in order to minimize losses and approach the market in a focused manner by supplying products that meet the local market requirements. During the year under review, Elgi Equipments acquired Ergo Design Private Limited, an independent industrial design studio. Ergo Design Private Limited caters to the needs of Elgi Equipments to a large extent. The acquisition was done in order that the company has better control over the Intellectual Property rights created by Ergo Design Private Limited using the company's inputs. During the year under review, Elgi Equipments' products continued to be well received by distributors and customers in international markets especially in USA, Europe and the Middle East. The high cost of operations in the company's French operations combined with the country's restrictive labour practices made it clear that profitability of Elgi Equipments' wholly owned subsidiary in France Belair SAS is a challenge. The company took a hard decision to handover Belair SAS to the French judicial system for legal redressal. The company had acquired Belair SAS in February 2010 and since then has invested over Euro 6.8 Million to build the business. During the financial year ended 31 March 2017, consequent to Elgi Equipments' decision to restructure its China operations, Elgi Compressors (Zhejiang) Limited has de-registered its manufacturing license. The company had promoted and invested in Elgi Compressors (Shanghai) Co. Ltd (ECS) as a trading entity, based on local advice at that time that the manufacturing entity, namely Elgi Equipments (Zhejiang) Limited could not carry on trading activities. The company had re-examined the matter in the eve of restructuring China operations on the basis of legal advice, it was confirmed that Elgi Equipments (Zhejiang) Limited could itself engage in trading activities. Therefore, as part of the restructuring process, the Board of Directors thought it prudent to wind down ECS. In pursuance thereof, select employees of ECS numbering six personnel were transferred to Elgi Equipments (Zhejiang) Limited. Other employees of ECS were let go after following legal procedures. Formalities have been completed at the EXIM office and ECS cannot engage in trading activities now. A clearance is pending from the tax bureau but this does not preclude ECS from proceeding with further action for further winding up. ECS will now apply for filing with the Statutory Authority (Minhang BOC) along with necessary particulars as soon as possible to start the winding-up process officially. Belair SAS, France, previously the wholly owned subsidiary of Elgi Equipments was handed over to the French Judicial System for legal redressal on 26 April 2016, considering the cost structure and business operations which was challenging for the company for some time. Attempts on finding solution to the problems were not successful. A situation arose where Belair was unable to even meet the routine financial commitments to run its business operations smoothly. Belair was also unable to service its debts to the company. Therefore, it was decided to seek protective action before appropriate Commercial Court in Annecy, France. The Court appointed an administrator on 28 April 2016. Belair is no longer under the control of Elgi Equipments and is under legal redress as per the French laws. By a judgement and order dated 1 June 2016 and subject to the conditions mentioned therein, the Commercial Court of Annecey ordered assignment of Belair's AIRBEL business to AIRMAX HOLDING and pronounced the judicial liquidation of SAS Belair. During the year under review, Elgi Equipments incorporated a Limited Liability Partnership in the name of Industrial Air Solutions LLP. Elgi Equipments is a partner with Mr. Rajeev Sharma, an ex-employee of the company who holds equal shares along with the company. The LLP will be a model distribution entity to handle Sales and Service of Elgi Compressors for the areas of Coimbatore and Tiruppur by showcasing some of the best business practices to help build a strong brand and improve market share in these areas. During the financial year ended 31 March 2018, Elgi Equipments continued to gain share in North America where its machines are fast gaining reputation for reliability and energy efficiency. For leveraging information technology, various digital and automation initiatives were implemented during the year in collaboration with the business functions. The company was one of the early adopters of ERP (Enterprise Resource Planning) system and during the year the company successfully completed implementation of upgrade to Infor, LN ERP Software. During the year 2019-20, Company acquired Michigan Air Solutions, LLC, an independent compressor distributor in the USA and Company's European expansion plan gained full traction. During the year 2019-20, ELGi Sauer's Engineering Support Team Coimbatore (ESTC) was established to provide exclusive engineering support to the parent Company, Sauer-Germany, and its global subsidiaries. It is fully operational now. ELGi Sauer also commenced construction of a new factory in the outskirts of Coimbatore. In FY 2021, the Company launched ELGi's oil-free AB series screw technology throughout Europe thereby helping their customers in the total cost of ownership, improved reliability, and a reduction of their environmental impact. During the year 2021, the Company acquired F. R. Pulford & Son Pty Ltd, an independent distributor, (Pulford Air & Gas), a Sydney based distribution company for industrial Compressors and air products. During FY 2022, Company invested in Michigan Air Solutions (MAS), distribution business by setting up a new location for Detroit operations. It grew sales at Pattons, distribution business covering North Carolina, South Carolina, Georgia, Virginia, and Alabama. It invested in leadership, sales, and service talent with improving business' structural profitability for expanding sales and market share. During 2022-23, Elgi Compressors Vietnam LLC, a wholly owned subsidiary of the Company was incorporated. CS Industrial Services LLC, USA, a joint venture company was formed by Elgi Compressors USA Inc., a wholly owned subsidiary of the Company. In FY' 23, the Company launched Digital Innovation DOJO - ELGi's digital transformation strategy based on the premise of Experiment, Start Small & Scale Fast'.

Managing Director

Jairam Varadaraj.

Founded

1960

NSE Symbol

ELGIEQUIP

Elgi Equipments Ltd Management

NameDesignation
Jairam Varadaraj.Managing Director
N Mohan NambiarNon-Exec. & Independent Dir.
B VijayakumarNon-Exec. & Independent Dir.
Sudarsan VaradarajNon-Exec & Non-Independent Dir
Ganesh DevarajNon-Exec. & Independent Dir.
M RamprasadNon-Exec. & Independent Dir.
Aruna ThangarajNon-Exec. & Independent Dir.
ANVARJAY VARADARAJExecutive Director
S PrakashCompany Sec. & Compli. Officer

Elgi Equipments Ltd News

Elgi Equipments announces cessation of director
With effect from 10 April 2024
Elgi Equipments gains on appointing Indranil Sen as CFO
Elgi Equipments rose 1.45% to Rs 640.20 after the company said that its board has appointed Indranil Sen as chief financial officer (CFO), succeeding Jayakanthan, who will step down from the role on 18 March 2024.
Elgi Equipments Ltd Spurts 2.45%
Elgi Equipments Ltd has added 13.78% over last one month compared to 4.65% gain in S&P BSE Capital Goods index and 2.96% rise in the SENSEX
Elgi Equipments consolidated net profit rises 4.77% in the December 2023 quarter
Sales rise 6.39% to Rs 821.83 crore
Board of Elgi Equipment approves VRS
At meeting held on 12 February 2024
Elgi Equipments to convene board meeting
On 12 February 2024
Elgi Equipments consolidated net profit rises 26.86% in the September 2023 quarter
Sales rise 9.12% to Rs 806.12 crore
Elgi Equipments announces senior management appointment
Elgi Equipments to announce Quarterly Result
On 8 November 2023
Volumes soar at Elgi Equipments Ltd counter
Elgi Equipments Ltd recorded volume of 35.18 lakh shares by 14:09 IST on NSE, a 14.58 times surge over two-week average daily volume of 2.41 lakh shares

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Elgi Equipments Ltd FAQ

By opening a demat account and having your KYC papers confirmed online, you may simply purchase Elgi Equipments Ltd shares in BlinkX

The share price of any stock is volatile and changes during the day due to a variety of variables. Elgi Equipments Ltd's share price is ₹623.55 as of April 19, 2024

Elgi Equipments Ltd's P/E ratio is 48.30 times as of April 19, 2024.

Elgi Equipments Ltd's most recent financial reports indicate a price-to-book ratio of 13.40, showing the company's stock market valuation in relation to the value of its real assets.

Market capitalisation, often known as market cap, is the market value of all outstanding shares of a publicly listed corporation. Elgi Equipments Ltd's market is 19,593 Cr as on April 19, 2024.

The current financial records of Elgi Equipments Ltd show a 27.49% ROE, showing great financial performance and effective capital utilisation, making it a significant statistic for investors.

The 52-week high/low price of a Elgi Equipments Ltd stock is the highest and lowest price at which it has traded over that period (about one year) and is used as a technical indicator. Elgi Equipments Ltd's 52-week high and low as of April 19, 2024 are ₹633.5 and ₹613 respectively.

As of the Mar 2024 quarter, the promoter shareholding in Elgi Equipments Ltd stands at 31.19%. During the same period, Institutional Investors have shown a slight increase in their holdings, rising from 29.02% to 29.54%.