ELGIEQUIPCapital Goods

Elgi Equipments Limited

Compressors, Pumps & Diesel Engines · ISIN INE285A01027 · BSE 522074 · NSE EQ · FV ₹1
Last price
₹593
+0.14%today
What this company does

Elgi Equipments Limited operates in Compressors, Pumps & Diesel Engines, part of the Capital Goods sector. It booked ₹1,062 cr of revenue in its latest quarter (Q1 FY27) and kept 9.7% of sales as profit. It is the 3rd largest of 9 Compressors, Pumps & Diesel Engines companies we track, by market value.

In the report:
59out of 100
Equitytale Health Score
Mixed

Healthier than 59% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 16–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
41

At close. Not part of the score.

Profitability & returns65

How much profit it earns on the money it employs

Balance sheet52

How much it owes, and whether earnings cover the interest

Cash quality79

Whether reported profit actually arrives as cash

Growth & consistency41

Whether sales and profit have grown, and how steadily

Valuation47

What today's price implies, against our models or its peers

Governance & risk75

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 23% vs last year
Profit up 21% vs last year
Strong 19% return on equity
Turns profit into real cash
Watch-outs
! 0.9% of promoter stake pledged

What if I invest in ELGIEQUIP?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹593 +0.14%
latest close · 2026-09-17
1-year return
+206.9%
52-wk low ₹19152-wk high ₹653
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio45.2High
LowAverageHigh
P/B ratio8.42High
Below bookModerateHigh
EV / EBITDA28.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity18.5%Strong
WeakFairStrong ▸15%
Return on capital24.5%Strong
WeakFairStrong
Net margin9.7%Decent
ThinDecentStrong
EBITDA margin15.9%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.18Comfortable
LowModerateHigh ▸1
Interest cover24.0×Strong
RiskyOkayStrong ▸5×
Current ratio2.08Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹18,802 cr
Book value
₹70
EPS
₹3.28
latest quarter
Net debt
₹241 cr
owes more than its cash
Enterprise value
₹19,044 cr
EBITDA
₹674 cr
annualised
EBIT
₹575 cr
annualised
Operating margin
13.5%
Return on assets
11.7%
Earnings yield
2.21%
P/S
4.43
Sales / share
₹134.1
Tax rate
26.3%
Face value
₹1
Shares
31.7 cr
Working capital
₹1,294 cr
Current assets
₹2,490 cr
Current liabilities
₹1,196 cr
Delivery %
49.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹133₹205, midpoint ₹169

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,062 cr
Other Income₹20 cr
Total Income₹1,083 cr
Cost of Materials₹422 cr
Purchases of Stock-in-Trade₹128 cr
Inventory Change (±)₹-21 cr
Employee Benefit Expense₹209 cr
Finance Costs₹6 cr
Depreciation & Amortisation₹25 cr
Other Expenses₹170 cr
Total Expenses₹938 cr
Exceptional Items₹-7 cr
Profit before Tax₹138 cr
Tax Expense₹36 cr
Share of JV / Associates₹2 cr
Net Profit₹103 cr
Net margin on total income9.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹529 cr49.1%
Employee benefit expense₹209 cr19.4%
Finance costs₹6 cr0.6%
Depreciation & amortisation₹25 cr2.3%
Other expenses₹170 cr15.7%
Tax expense₹36 cr3.4%
Profit for the period₹103 cr9.6%
Total income ₹1,083 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,003 cr1,113 cr1,062 cr
Total income1,028 cr1,135 cr1,083 cr
Expenses886 cr970 cr938 cr
Profit before tax127 cr165 cr138 cr
Tax34 cr36 cr36 cr
Net profit (owners' share)95 cr128 cr103 cr
Net margin (owners' share, on revenue)9.5%11.5%9.7%
EPS (₹)3.014.063.28
YoY (latest quarter): total income +22.1% · net profit +20.7%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹3,546 cr
Shareholder equity
₹2,232 cr
parent shareholders
Total debt
₹405 cr
Cash
₹164 cr
Cash flow · H1 FY26
Operating
₹265 cr
Investing
₹90 L
Financing
₹-220 cr
Peer comparison
Compressors, Pumps & Diesel Engines · by market value
CompanyPriceMarket capP/E
Cummins India Limited₹5,020₹1.39 L cr57.1
Kirloskar Oil Engines Limited₹2,121₹30,834 cr67.8
Elgi Equipments Limitedthis company₹593₹18,802 cr45.2
Kirloskar Brothers Limited₹1,771₹14,078 cr52.8
Ksb Limited₹778₹13,534 cr59.1
Ingersoll Rand (India) Limited₹4,225₹13,339 cr47.3
Shakti Pumps (India) Limited₹464₹5,727 cr27.8
Kirloskar Pneumatic Company Limited₹694₹4,510 cr33.7
Swaraj Engines Limited₹3,553₹4,317 cr19.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.46%
trailing 12 months
Dividend / share (TTM)
₹2.7
Last dividend
₹2.7
ex 17 Jul 2026
ActionDetailEx-date
Dividend₹2.7 / share17 Jul 2026
Dividend₹2.2 / share18 Jul 2025
Dividend₹2 / share24 Jul 2024
Dividend₹2 / share28 Jul 2023
Dividend₹1.15 / share4 Aug 2022
Dividend₹0.8 / share23 Jul 2021
Who owns it · 2026-06-30
0.9% pledged
Promoter
31.2%
FII / Foreign
21.9%
DII / Domestic
10.1%
Retail / others
36.3%
Smart-money activity
Insider trades
BoughtDark Horse Portfolio Investment Private Limited · Promoter Group1.03 cr · ₹757.2 cr1 Jul 24
SoldSUDARSAN VARADARAJ · Promoter Group2.05 L15 Jun 22
SoldSURYAVARADH SERCURITIES PVT LTD · Other5,000 · ₹20.0 L8 Jun 22
Bulk / block deals
short · NSE103 Sep 26
short · NSE13014 May 26
short · NSE10016 Apr 26
Stake changes
SoldWasatch Advisors LP→ 3.15% · 1.50 L12 May 26
SoldPari Washington India Master Fund, Ltd.→ 5.17% · 9,4408 Apr 26
SoldWasatch Advisors LP→ 5.19% · 43,83712 Dec 25
Promoter pledges
PledgedBajaj Finane Ltd2.05 L · 0.00% held26 Dec 25
PledgedRBL bank Ltd6.64 L · 0.00% held21 Aug 25
ReleasedFeederal Bank Ltd6.64 L · 0.21% held19 Aug 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 14 Aug 2026
See the official result
1
Adoption of the audited standalone and consolidated financial statements of the company including Statement of Profit and Loss (including other Comprehensive Income) along with statement of cash flows and the statement of changes in equity for the financial year ended March 31, 2026, the Balance sheet as at that date, together with the reports of the Board of Directors and the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
9.88 cr votes for, 31 against · 0% of mutual funds and other big investors said no
2
Declaration of dividend for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
9.88 cr votes for, 61 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Mr. Anvar Jay Varadaraj (DIN: 07273942) as a Director on retirement by rotation.
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
9.81 cr votes for, 7.00 L against · 1% of mutual funds and other big investors said no
4
Ratification of the remuneration payable to M/s. STR & Associates (Firm Registration No. 000029), Cost Auditors of the Company for the financial year 2026-2027.
Backed by 100% of shareholders other than promotersneeded 50%
9.88 cr votes for, 31 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 29 named members
owning 31.2% between them · as of 2026-06-30
Dark Horse Portfolio Investment Private Limited20.10%
Jairam Varadaraj8.91%
Anvar Jay Varadaraj0.61%
Maya Jay Varadaraj0.60%
Varun Jay Varadaraj0.60%
Elgi Rubber Company Limited0.21%
Sudarsan Varadaraj0.06%
Varshini Varadaraj0.05%
Business done with them
FY2026 · 6 of the group
The company paid ₹27 cr to companies in the promoter group last year — about 0.7% of its ₹3,951 cr revenue.
Dark Horse Portfolio Investment Private Limited
Other payments to them · Other Related Parties
also owns 20.10% of the company
₹14 cr
company paid
Jairam Varadaraj
Other payments to them · Key ManagementPersonnel
also owns 8.91% of the company
₹9 cr
company paid
Anvar Jay Varadaraj
Other payments to them · Keymanagementpersonnel
also owns 0.61% of the company
₹3 cr
company paid
Elgi Rubber Company Limited
Other payments to them · Other Related Parties
also owns 0.21% of the company
₹30 L
company paid
Sudarsan Varadaraj
Other payments to them · Non Executive Directors
also owns 0.06% of the company
₹10 L
company paid
Elgi Ultra Private Limited
Paid them for services · Other Related Parties
₹10 L
company paid
Elgi Ultra Private Limited
Other payments to them · Other Related Parties
₹10 L
company paid

The company also transacted with 17 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.