ELGIEQUIP

Elgi Equipments share price & financials

Price
₹581.7
Market cap
₹20.0k Cr
Sector
Capital Goods
Calls analysed
8
Latest concall · Q1 FY27 · call held 14 Aug 2026

Elgi Equipments Limited Q1 FY27

Revenue Growth 0.23 yoy_growth EBITDA Growth 0.28 yoy_growth PAT as % of Revenue 9.7% Warranty Cost as % of Revenue 1%

What went well

  • Total revenue grew by 23% YoY, with 7% exchange-related and 16% organic.
  • EBITDA grew by 28% YoY, indicating strong operational performance.
  • EBITDA percentage was maintained or slightly improved compared to last year, despite cost pressures.

What to watch

  • Raw material cost increases, tariffs, and product mix led to 'contribution-negative' impact in Q1.
  • Exceptional reorganization costs are being incurred in Australia, Europe, and the US, expected to continue through the year.
Read the full call →

What Elgi Equipments Limited does

Elgi Equipments makes air compressors (industrial oil-lubricated, oil-free, portable, water-well and railway applications) and, through subsidiary ATS Elgi, automotive garage/service-station equipment. It earns through original equipment sales plus an aftermarket spares-and-service business that supports its installed base. Manufacturing is anchored in Coimbatore, Tamil Nadu, supplemented by overseas plants, with sales and service run directly in dozens of countries and through distribution units such as Pattons and Michigan Air Solutions in North America and Rotair in Europe.

Segments

  • Compressors
  • Automotive
Countries where Elgi does business
120+
Countries with direct presence
28
Countries with manufacturing presence
3
Employees
2,138
Shareholders
68,533
Key subsidiaries/associates
ATS Elgi, Elgi Sauer Compressors, Elgi Rubber Company, Elgi Ultra, Magna Electro Castings, LRG Technologies
Founded 1960Headquarters Coimbatore, Tamil Nadu, IndiaEmployees 2,138 (FY2024-25 (Mar 2025)) Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 6 delivered 5 missed 9 open
  • Q1 FY27 Revenue Growth delivered said Q4 FY26 Promised: Similar to last year's growth (12%) or slightly better Q1 FY27: Reported Q1 FY27 revenue growth of 23% YoY, significantly exceeding the guidance of 'similar to last year's growth (12%) or slightly better'.
  • Consolidated Revenue missed said Q3 FY25 Promised: $450 million by FY26 Q1 FY27: The FY26 target was missed and the topic was not revisited.
  • New Product Launch delayed said Q2 FY25 Promised: Launch in Q4 FY25 Q1 FY27: The formal launch is scheduled for September. Management states 'we are on track' and have already secured first orders.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 28.2%, net profit up 9.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue531 498 580 503 568 +7%606 +22%666 +15%645 +28%
EBITDA114 102 125 97 108 −5%127 +25%101 −19%115 +19%
Net profit98 80 99 82 91 −7%90 +13%83 −16%90 +10%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +31.5% 1Y

₹400₹450₹500₹550₹600₹650Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 13 Nov 2025Q3 FY26 — 26 Feb 2026Q4 FY26 — 3 Jun 2026Q1 FY27 — 14 Aug 2026

1Y: ₹469.75 on 10 Sept 2025 → ₹617.7. High ₹642.4 (7 Sept 2026), low ₹415.55 (20 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
+5.7%
14 Aug
Q4 FY26
+2.0%
3 Jun
Q3 FY26
−0.7%
26 Feb
Q2 FY26
+1.7%
13 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 4.2% a year over 3 years, FY23 to FY26. Operating margin widened to 18.5%.

Year endingFY23FY24FY25FY26
Revenue₹2.7k Cr₹1.8k Cr₹2.1k Cr₹2.3k Cr
Operating profit₹400 Cr₹402 Cr₹435 Cr₹433 Cr
Operating margin15.0%21.8%20.9%18.5%
Interest₹15 Cr₹6 Cr₹2 Cr₹0 Cr
Depreciation₹69 Cr₹36 Cr₹36 Cr₹41 Cr
Net profit₹282 Cr₹322 Cr₹350 Cr₹346 Cr
Net margin10.6%17.5%16.8%14.8%
Cash from operations₹235 Cr₹255 Cr₹338 Cr₹180 Cr
Free cash flow₹199 Cr₹223 Cr₹258 Cr₹48 Cr
ROCE30.0%30.0%28.0%25.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹32 Cr₹32 Cr₹32 Cr₹32 Cr₹32 Cr₹32 Cr
Reserves₹784 Cr₹952 Cr₹1.2k Cr₹1.4k Cr₹2.0k Cr₹2.0k Cr
Borrowings₹104 Cr₹2 Cr₹93 Cr₹112 Cr₹528 Cr₹41 Cr
Other liabilities₹250 Cr₹275 Cr₹267 Cr₹321 Cr₹641 Cr₹484 Cr
Total liabilities₹1.2k Cr₹1.3k Cr₹1.6k Cr₹1.9k Cr₹3.2k Cr₹2.5k Cr
Fixed assets₹211 Cr₹199 Cr₹216 Cr₹210 Cr₹636 Cr₹282 Cr
Capital work in progress₹4 Cr₹7 Cr₹3 Cr₹9 Cr₹77 Cr₹132 Cr
Investments₹178 Cr₹181 Cr₹184 Cr₹190 Cr₹95 Cr₹303 Cr
Other assets₹777 Cr₹874 Cr₹1.2k Cr₹1.5k Cr₹2.4k Cr₹1.8k Cr
Total assets₹1.2k Cr₹1.3k Cr₹1.6k Cr₹1.9k Cr₹3.2k Cr₹2.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −5.72 pp while DIIs added +4.89 pp. The shareholder count grew 16% to 89,318.

Promoters
31.2%
FIIs
21.9%
DIIs
10.1%
Public
36.3%
Others
0.5%

Since Jun 2025

  • FIIs −5.72 pp
  • DIIs +4.89 pp
  • Public +0.72 pp

How it drifted, 12 quarters

Over this window FIIs fell from 28.8% to 21.9% — −6.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 31.2%, FIIs 28.8%, DIIs 4.8%, Public 35.0%, Others 0.2%.Dec '23: Promoters 31.2%, FIIs 29.0%, DIIs 4.9%, Public 34.7%, Others 0.2%.Mar '24: Promoters 31.2%, FIIs 29.5%, DIIs 5.0%, Public 34.1%, Others 0.2%.Jun '24: Promoters 31.2%, FIIs 29.5%, DIIs 5.0%, Public 34.1%, Others 0.2%.Sep '24: Promoters 31.2%, FIIs 29.4%, DIIs 5.0%, Public 34.2%, Others 0.2%.Dec '24: Promoters 31.2%, FIIs 29.4%, DIIs 5.1%, Public 34.2%, Others 0.2%.Mar '25: Promoters 31.2%, FIIs 29.1%, DIIs 5.0%, Public 34.4%, Others 0.4%.Jun '25: Promoters 31.2%, FIIs 27.6%, DIIs 5.2%, Public 35.6%, Others 0.4%.Sep '25: Promoters 31.2%, FIIs 26.1%, DIIs 6.2%, Public 36.1%, Others 0.4%.Dec '25: Promoters 31.2%, FIIs 23.1%, DIIs 8.1%, Public 37.3%, Others 0.3%.Mar '26: Promoters 31.2%, FIIs 22.2%, DIIs 9.1%, Public 37.0%, Others 0.5%.Jun '26: Promoters 31.2%, FIIs 21.9%, DIIs 10.1%, Public 36.3%, Others 0.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Elgi Equipments Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Dark Horse Portfolio Investment Private Limited 20.10%unchanged
Jairam Varadaraj 8.91%unchanged
SBI Small Cap Fund Mutual fund6.38%unchanged
Gagandeep Credit Capital Pvt Ltd 4.64%unchanged
PARI WASHINGTON INDIA MASTER nFUND, LTD. FPI fund3.04%−1.07 pp
Nalanda India Equity Fund Limited FPI fund2.66%unchanged
Nemish S Shah 1.69%unchanged
St. James's Place Emerging Markets Equity Unit Trust Managed By Wasatch Advisors Inc Global fund house1.56%unchanged
Pari Washington Investment Fund AIF1.15%unchanged
Anvar Jay Varadaraj 0.61%unchanged
Varun Jay Varadaraj 0.60%unchanged
Maya Jay Varadaraj 0.60%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in ELGIEQUIP

Filings to Aug 2026

0 new, 5 added, 1 trimmed, 0 sold out — net +0.36 L shares (+0.2%).

Held by funds
₹1.4k Cr
10 schemes
Biggest holder
SBI Smallcap Fund
₹627 Cr · 1.5% of that fund
SchemeHoldingLast month
SBI Smallcap Fund SBI Mutual Fund₹627 Crheld
SBI MultiCap Fund SBI Mutual Fund₹502 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹138 Crheld
Nippon India Power & Infra Fund Nippon India Mutual Fund₹65 Cr+0.30 L
SBI Infrastructure Fund SBI Mutual Fund₹63 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹21 Cr+0.04 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹11 Cr+0.02 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 1 trimmed — net +36,139 shares (+0.2%)

Funds are sitting on
+49%
vs est. average cost
Held by funds
₹1.4k Cr
10 schemes · ≈ 6.6% of the company
Biggest holder
SBI Smallcap Fund
₹627 Cr · 1.5% of that fund
Longest holder
Nippon India Nifty Smallcap 250 Index Fund
5y 11m · since Oct '20

Shares held by these funds +123%

Aug '23 2.27 cr shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹618, this stock must grow earnings at 34% every year for 7 years. Our analysis caps realistic growth at ~7%. At that growth it is worth ₹153 — downside of 75%.

Growth the price implies
34.4% a year
for 7 years, fading to 4%
It has actually compounded at
7.1% a year
net profit, FY23–FY26 · EPS 7.1%
The gap
0.3 pp
-75% downside if it only repeats history
Price today ₹617.7 Value at the reference growth ₹153.09

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse Elgi Equipments Limited

Guides on how to read this kind of business and the numbers that matter.