NSE: ELGIEQUIP · BSE: 522074 · ISIN INE285A01027
Elgi Equipments Limited stock analysis
Elgi Equipments Limited ranks #1240 in the TickerSutra evidence-ranked universe with a score of 55/100 and 95% data confidence. The latest captured fundamentals show ROCE of 22.1%, quarterly sales growth of 22.6% and quarterly profit growth of 27.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 22.1%
- Low debt/equity of 0.24×
- CWIP indicates an active capacity pipeline
Risks and constraints
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,525cr | ₹298cr | ₹178cr | 12.0% |
| 2023 | ₹3,041cr | ₹437cr | ₹371cr | 14.0% |
| 2024 | ₹3,218cr | ₹491cr | ₹312cr | 15.0% |
| 2025 | ₹3,510cr | ₹529cr | ₹350cr | 15.0% |
| 2026 | ₹3,951cr | ₹583cr | ₹430cr | 15.0% |
| TTM | ₹4,146cr | ₹612cr | ₹448cr | 15.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Elgi Equipments Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineElgi Equipments Ltd - 522074 - Announcement under Regulation 30 (LODR)-Credit RatingBSE · 13 Sept 2026Intimation on ESG Rating
MANAGEMENT COMMENTARY
Signals from filed documents
So, we have had a good volume impact. We had a contribution - negative primarily because of raw material cost increases, tariffs, and product mix. We have responded to this by cost reduction.
A few more follow-up questions which I have. Given the kind of strong growth that we have seen during this quarter, is it safe to assume that we would have gained market share in the Indian market? Management: I think so, but you know, I'd like our competitors to tell us that, you know.
But the price correction we expect to see towards the end of the sec ond quarter and more fully in the third quarter. So by and large, we are confident that we have mitigated this. We started off the year thinking that there will be a 3% to 4% increase in material cost, cost by commodity, metal commodity prices, but in reality it was 5%.
Some part would be the new products that you are launching. Management: Some part of it, clearly operating leverage, which is linked again to new products because they contribute to giving us the top line, right, by market share or growth into new markets. But we will also be looking at how to improve our gross margin, right ?
We have also, like you saw one of the expense items of reorganization, we are taking cost out to make the organization more leaner and more nimble and more efficient. The 3rd is, you know, in spite of the increase in raw material costs, in spite of holding up prices in the first quarter to a larger extent compared to raw material price increases, the cost reduction activity that's been going on in this company has be
MANAGEMENT PROMISE LEDGER
Quantified statements on the clock
“So that's something that we hope to achieve over the next three to four years' time. Ritwik Sheth: Okay, so the journey from say 15, 16% EBITDA margin towards your target of 20%, some part would be operating leverage on the current base. Some part would be the new products that you are launching.”
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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