Elgi Equipments Ltd

NSE: ELGIEQUIP BSE: 522074

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]

₹535

52W: ₹408 — ₹608

PE 45.7 · Book ₹57.9 · +824% vs book

Market Cap₹16,950 Cr

Stock P/E45.7Price to Earnings

ROCE28.4%Return on Capital

ROE21.9%Return on Equity

Div. Yield0.43%Face Value ₹1

Strengths

+Company has reduced debt.
+Company is almost debt free.
+Company has delivered good profit growth of 28.4% CAGR over last 5 years
+Company has been maintaining a healthy dividend payout of 21.0%

Weaknesses

−Stock is trading at 8.93 times its book value

Shareholding Pattern

Promoters31.19%

FIIs22.2%

DIIs9.08%

Public37%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	31.19%	31.19%	31.19%	31.19%	31.19%	31.19%	31.19%	31.19%
FIIs	29.47%	29.4%▼0.1	29.4%	29.09%▼0.3	27.62%▼1.5	26.12%▼1.5	23.11%▼3.0	22.2%▼0.9
DIIs	5%	5.04%▲0.0	5.07%▲0.0	4.98%▼0.1	5.23%▲0.3	6.24%▲1.0	8.08%▲1.8	9.08%▲1.0
Public	34.11%	34.17%▲0.1	34.16%▼0.0	34.36%▲0.2	35.58%▲1.2	36.06%▲0.5	37.26%▲1.2	37%▼0.3

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	439	465	540	472	531	498	580	503	568	606
Expenses	340	363	420	378	416	395	455	406	460	478
Operating Profit	99	102	120	94	114	102	125	97	108	127
OPM %	23%	22%	22%	20%	22%	21%	22%	19%	19%	21%
Net Profit	83	79	93	73	98	80	99	82	91	90
EPS ₹	2.63	2.5	2.92	2.3	3.09	2.53	3.13	2.57	2.87	2.83

AI Insights

Revenue Trend

TTM revenue at ₹2,257Cr, up 8.5% YoY. OPM at 20%.

Debt Position

Borrowings at ₹13Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹75Cr (32% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 9.08% (+4.21pp change). FIIs: 22.2% (-7.13pp change). Promoters hold 31.19%.

Margin & Efficiency

ROCE improving from 21% (Mar 2014) to 28% (Mar 2025). Working capital days: 74.

Valuation

PE 45.7x with 28.4% ROCE. Price is 824% above book value of ₹57.9. Dividend yield: 0.43%.