Elgi Equipments Ltd(ELGIEQUIP)

NSE: ELGIEQUIPBSE: 522074

₹ 513-4.03%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 16,257 crNext results: 6 Nov 2026Website: www.elgi.comUpdated: 24 Oct 2026

About

Elgi Equipments Ltd is a Coimbatore-based manufacturer of air compressors and automotive service equipment, selling across India and internationally through 26 subsidiaries and 6 joint ventures. Consolidated revenue was Rs 3,950.7 Cr in FY26, with air compressors contributing 91.4% of sales. The company holds dominant market share in India's construction and mining compressor segment and is expanding in North America, Europe, and Australia.^[1][2]

Business segments

Air Compressors: Rs 3,613.4 Cr revenue in FY26 (91.4% of group sales) vs Rs 3,211.8 Cr in FY25; EBIT margin 15.2% in FY26.^[2][3][4]
Automotive Equipment: Rs 338.6 Cr revenue in FY26 (8.6% of group sales) vs Rs 301.5 Cr in FY25; EBIT margin 11.0% in FY26.^[2][3][4]
India vs. rest-of-world compressor revenue split was 49%/51% in Q4 FY26, remaining broadly stable into Q1 FY27 at ~51/49.^[5]

Products and portfolio

Core range spans oil-lubricated screw compressors (EG/EQ series), oil-free compressors (OA/OF series), and portable compressors (Rotair/AB series) for industrial, medical, construction and railway applications.^[3]
Patented Demand=Match system launched across all single-stage oil-lubricated products in India in FY26; delivers up to 17% energy savings; global launch planned FY27.^[3]
EG 200-250 Super Premium range with 2-stage airends and IE4 motors delivers up to 12% specific power savings; EG 55 PMSM features an indigenously designed IE5+ Permanent Magnet Synchronous Motor.^[3]
OF 90-160 kW Air Cooled units with Integrated Heat Recovery System launched to help customers recover waste heat.^[3]
Indigenised ARN Series refrigerated dryers (20 to 500 CFM) launched globally, US supply from Q1 FY27; Aluminium Compressed Air Piping (20 to 200 mm) launched for India.^[3]
RS25100 oil-injected screw compressor package launched for WAG10 locomotives; 65 loco sets (130 AGTUs) supplied as of Q3 FY26.^[3]

Operations and manufacturing

Manufacturing is based in Coimbatore; a Vacuum Pump assembly line was inaugurated there in January 2026 and locally made vacuum products are being sold.^[3]
Rotair S.p.A. (Italy) manufactures portable air compressors; US tariffs on Italy-made Rotair products continued to dampen demand in FY26.^[3]
In-house motors cover >95% of global screw compressor motor needs as of FY26, up from 67% in FY24; motor plant capacity was expanded by 50% in FY25.^[5][4]
Air~Alert IoT system is standard on EG 18 kW and above models in India and on EG 90 kW and above, AB and OF series globally.^[3]
Employee headcount was 2,257 as of March 31, 2026.^[3]
IT operating model is GCC-led with approximately 90% centralised offshore delivery.^[3]

Key operating numbers

India standalone revenue grew ~28% in Q1 FY27, described as primarily volume-driven; India grew ~12% in FY26.^[6]
Aftermarket (parts only) share: 28-30% of India revenue and 15-16% of global revenue in Q1 FY27.^[6]
Warranty cost was below 1% of revenue in Q1 FY27.^[6]

Customers and distribution

Elgi Compressors USA Inc. (Charlotte, NC) serves manufacturing, medical, pharmaceutical, food & beverage, construction and infrastructure customers in the US.^[3]
ELGi holds dominant market share in India's Construction and Mining compressor segment and expanded share in Railways in FY26.^[3]
North America grew 37%, Europe 21% and Australia 17% in Q1 FY27; Australia and Southeast Asia lagged in FY26.^[6]
North American distribution operations did not fully achieve revenue targets in FY26.^[3]
Products certified for Canada (CRN, AB 11-75 kW), Norway and Germany.^[3]
Group has 26 subsidiaries and 6 joint ventures/associates; material subsidiaries are Elgi Compressors USA Inc., Elgi Compressors Europe S.R.L. and Patton's Inc.^[3]

Expansion and capex

New Global Support Centre at Kinathukadavu on track for completion in Q1 FY27; capital commitments of 619 million as of FY26.^[3]
FY27 capex budget is approximately INR 200 Cr: INR 120-130 Cr for the new campus shift and about INR 70 Cr maintenance/balancing.^[5]
5-year capex plan for new campus consolidation is INR 500-600 Cr over FY27-FY31.^[7]
Germany entry planned as a new market, with more emphasis on Eastern Europe.^[6]

Recent developments

FY26 annual report sets a revenue target of 66,150 million by FY31 with 18% EBITDA margin and 35% ROCE.^[3]
Tier-4 low-end compressor range received first orders; formal India launch set for September 2026 with a dedicated distributor network.^[6]
Demand=Match global rollout underway with validation machines in all major geographies; full standardisation expected within FY27.^[6]
Europe reached EBITDA breakeven in Q4 FY26 after cost restructuring; constrained European demand expected to continue into FY27.^[5][3]
Price increases of 2.5-3% introduced to offset 5-6% raw material cost increases; full benefit expected by Q3 FY27.^[6]

Market Cap

₹16,257 Cr

High / Low

₹653 / 409

Stock P/E

38.5

Price / Book

7.7

Book Value

₹70

EPS

₹13.6

No. of Shares

31.69 Cr

ROCE

24.0%

ROE

21.0%

OPM

15.0%

Debt / Equity

0.18

Sales

₹3,951 Cr

Net Profit

₹430 Cr

Promoter holding

31.2%

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Elgi Equipments Ltd(ELGIEQUIP)

About

Business segments

Products and portfolio

Operations and manufacturing

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

Signal history

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