Incorporated in 1960, Elgi Equipments Limited along with its subsidiaries, is in the business of manufacturing and supplyingAir Compressors** &Automotive Equipments**. It is also providing related after sales services[1]
Market Leadership[1]The Company is the 6th largest air compressor manufacturer globally and the 2nd largest in India.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Cummins India | 4062.00 | 48.85 | 112584.66 | 1.27 | 622.33 | 38.49 | 3170.27 | 26.38 | 36.32 | 11643.62 | 20.97 | 2304.50 | 622.33 | 14.26 | 20.85 | 0.00 |
| 2. | Kirloskar Oil | 1170.30 | 34.93 | 17003.38 | 0.56 | 159.19 | 33.60 | 1948.38 | 29.50 | 13.68 | 6915.20 | 18.45 | 486.77 | 162.46 | 5.04 | 4.59 | 1.64 |
| 3. | Elgi Equipments | 431.35 | 38.86 | 13663.65 | 0.51 | 90.80 | -7.24 | 568.20 | 7.04 | 28.37 | 2148.90 | 20.12 | 351.60 | 90.80 | 7.45 | 17.55 | 0.01 |
| 4. | KSB | 740.20 | 49.05 | 12879.73 | 0.54 | 67.50 | 9.40 | 649.60 | 5.37 | 23.82 | 2638.10 | 12.98 | 262.60 | 67.50 | 8.40 | 11.19 | 0.00 |
| 5. | Kirl. Brothers | 1600.20 | 32.06 | 12696.77 | 0.44 | 72.20 | -27.77 | 1027.70 | -0.78 | 27.59 | 4432.20 | 12.98 | 396.05 | 69.07 | 5.76 | 11.89 | 0.10 |
| 6. | Ingersoll-Rand | 3240.00 | 38.64 | 10225.81 | 2.47 | 60.35 | 0.00 | 321.94 | -0.05 | 60.02 | 1341.12 | 25.05 | 264.65 | 60.35 | 15.73 | 30.02 | 0.02 |
| 7. | Shakti Pumps | 711.65 | 21.82 | 8767.43 | 0.14 | 90.71 | -10.56 | 666.35 | 5.00 | 55.31 | 2602.94 | 22.97 | 401.82 | 90.71 | 5.40 | 23.88 | 0.38 |
| – | Median: 14 Co. | 768.55 | 38.75 | 7988.12 | 0.55 | 63.92 | -3.62 | 553.92 | 6.21 | 27.93 | 2032.2 | 17.25 | 263.62 | 63.92 | 6.04 | 13.07 | 0.09 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 448 | 438 | 456 | 399 | 439 | 465 | 540 | 472 | 531 | 498 | 580 | 503 | 568 |
Expenses | 368 | 354 | 360 | 318 | 340 | 363 | 420 | 378 | 416 | 395 | 455 | 406 | 460 |
Operating Profit | 81 | 84 | 96 | 81 | 99 | 102 | 120 | 94 | 114 | 102 | 125 | 97 | 108 |
Other Income | 26 | 21 | 21 | 18 | 22 | 14 | 14 | 13 | 26 | 13 | 17 | 22 | 24 |
Profit before tax | 96 | 93 | 106 | 89 | 111 | 105 | 123 | 97 | 131 | 107 | 133 | 110 | 122 |
Tax % | 24% | 20% | 24% | 25% | 25% | 25% | 25% | 25% | 25% | 25% | 25% | 26% | 26% |
Net Profit | 73 | 75 | 81 | 67 | 83 | 79 | 93 | 73 | 98 | 80 | 99 | 82 | 91 |
EPS in Rs | 2.30 | 2.35 | 2.54 | 2.12 | 2.63 | 2.50 | 2.92 | 2.30 | 3.09 | 2.53 | 3.13 | 2.57 | 2.87 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 828 | 776 | 866 | 892 | 1,022 | 1,177 | 1,081 | 1,100 | 1,583 | 1,757 | 1,843 | 2,081 | 2,149 |
Expenses | 706 | 686 | 753 | 779 | 890 | 1,035 | 961 | 944 | 1,337 | 1,441 | 1,441 | 1,644 | 1,716 |
Operating Profit | 122 | 90 | 112 | 113 | 132 | 142 | 120 | 156 | 245 | 316 | 402 | 437 | 432 |
Other Income | 6 | 12 | -42 | 14 | 14 | 16 | 49 | 24 | 46 | 83 | 69 | 70 | 77 |
Interest | 1 | 5 | 4 | 2 | 2 | 4 | 5 | 5 | 3 | 7 | 7 | 3 | 1 |
Depreciation | 18 | 29 | 37 | 37 | 36 | 34 | 37 | 35 | 37 | 38 | 36 | 36 | 37 |
Profit before tax | 109 | 69 | 29 | 88 | 108 | 121 | 128 | 140 | 251 | 354 | 428 | 468 | 472 |
Net Profit | 78 | 56 | 9 | 68 | 77 | 85 | 100 | 105 | 189 | 272 | 322 | 350 | 352 |
EPS in Rs | 2.47 | 1.76 | 0.30 | 2.16 | 2.43 | 2.67 | 3.17 | 3.32 | 5.97 | 8.60 | 10.17 | 11.05 | 11.10 |
Dividend Payout % | 20% | 28% | 169% | 23% | 25% | 24% | 26% | 24% | 19% | 23% | 20% | 20% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 32 | 32 | 32 | 32 | 32 | 32 |
Reserves | 480 | 517 | 472 | 525 | 584 | 646 | 694 | 784 | 952 | 1,190 | 1,438 | 1,695 | 1,802 |
Borrowings | 92 | 113 | 64 | 48 | 85 | 42 | 102 | 104 | 2 | 93 | 112 | 10 | 13 |
Other Liabilities | 207 | 184 | 180 | 177 | 199 | 224 | 190 | 250 | 275 | 267 | 321 | 348 | 365 |
Total Liabilities | 796 | 830 | 731 | 766 | 884 | 928 | 1,001 | 1,170 | 1,262 | 1,582 | 1,902 | 2,084 | 2,212 |
Fixed Assets | 157 | 258 | 257 | 244 | 222 | 220 | 234 | 211 | 199 | 216 | 210 | 213 | 235 |
Gross Block | 306.26 | 433.87 | 292.83 | 315.57 | 327.15 | 358.20 | 408.58 | 422.82 | 447.39 | 500.85 | 528.90 | 567.00 | – |
Accumulated Depreciation | 149.35 | 175.80 | 35.99 | 71.09 | 104.70 | 138.55 | 174.71 | 211.87 | 248.11 | 285.22 | 319.10 | 354.00 | – |
CWIP | 85 | 6 | 1 | 0 | 2 | 6 | 4 | 4 | 7 | 3 | 9 | 51 | 75 |
Investments | 87 | 118 | 124 | 138 | 156 | 175 | 174 | 178 | 181 | 184 | 190 | 231 | 242 |
Other Assets | 467 | 448 | 350 | 384 | 504 | 528 | 590 | 777 | 874 | 1,180 | 1,493 | 1,589 | 1,660 |
Total Assets | 796 | 830 | 731 | 766 | 884 | 928 | 1,001 | 1,170 | 1,262 | 1,582 | 1,902 | 2,084 | 2,212 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 40 | 79 | 135 | 87 | 28 | 107 | 73 | 116 | 105 | 235 | 255 | 338 |
Cash from Investing Activity | -95 | -74 | -46 | -38 | -61 | -53 | -71 | -53 | 6 | -287 | -91 | -244 |
Cash from Financing Activity | 53 | -4 | -71 | -35 | 15 | -65 | 0 | -5 | -129 | 49 | -69 | -208 |
Net Cash Flow | -2 | 1 | 19 | 15 | -18 | -11 | 2 | 58 | -19 | -3 | 95 | -114 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 79 | 78 | 67 | 65 | 90 | 89 | 86 | 110 | 98 | 92 | 99 | 81 |
Inventory Days | 78 | 91 | 71 | 71 | 72 | 59 | 76 | 79 | 66 | 62 | 70 | 71 |
Days Payable | 90 | 81 | 85 | 80 | 86 | 87 | 76 | 103 | 74 | 61 | 80 | 70 |
Cash Conversion Cycle | 67 | 89 | 53 | 56 | 77 | 61 | 87 | 86 | 90 | 93 | 88 | 82 |
Working Capital Days | 59 | 65 | 17 | 45 | 54 | 60 | 96 | 67 | 85 | 64 | 66 | 74 |
ROCE % | 21% | 12% | 15% | 16% | 18% | 18% | 18% | 17% | 26% | 30% | 30% | 28% |
Direct from BSE filings, auto-summarised
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Stock Analysis
Elgi Equipments Limited is a leading Indian manufacturer of air compressors and automotive equipment, recognized for its significant global and domestic market positions.
Market leadership in air compressors globally and in India, complemented by the launch of innovative 'Demand=Match' technology offering energy savings and improved sustainability. Strong consolidated financial performance with consistent revenue growth is also a key driver.
Currently no data available for Order Book.
Q2 FY26 standalone net profit declined year-on-year. The company's outlook for Q3 is cautiously optimistic and dependent on tariff resolutions, with subdued performance noted in the European market. Historically, the stock has traded at a high price-to-book ratio.
Board meeting for Q2 FY2025-26 results held on November 12, 2025, with an investor call on November 13, 2025. Compliance certificate for the quarter ended December 31, 2025, filed on January 5, 2026.
Corporate Announcements
