Elgi Equipments Ltd is a leading global manufacturer of air compressors, headquartered in Coimbatore, Tamil Nadu, India. Established in 1960, the company has expanded significantly over the decades, evolving into a major player in the compressed air solutions industry. Elgi Equipments has built a diverse product portfolio to cater to the ever-changing demands of the market, with a focus on delivering reliable and efficient air compressor solutions.
The company offers a comprehensive range of air compressors, including oil-lubricated, oil-free, and portable compressors, alongside air accessories and heat recovery systems. Elgi operates in over 120 countries, supported by an extensive distributor network, which helps maintain its strong global presence. Known for its innovative and energy-efficient solutions, Elgi is committed to sustainability, focusing on developing environmentally friendly compressed air systems. Under the leadership of Dr. Jairam Varadaraj, who has served as the Managing Director for nearly 30 years, Elgi Equipments continues to grow, driven by a commitment to innovation, customer satisfaction, and sustainable practices.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 31.19% | 31.19% | 31.19% | 31.19% | 31.19% |
| FIIs + | 29.33% | 28.82% | 29.02% | 29.54% | 29.47% |
| DIIs + | 4.87% | 4.84% | 4.92% | 4.97% | 5.00% |
| Public + | 34.47% | 34.96% | 34.70% | 34.12% | 34.11% |
| Others + | 0.14% | 0.18% | 0.16% | 0.16% | 0.23% |
| No. of Shareholders | 49,934 | 58,126 | 56,754 | 55,150 | 54,988 |
From June 2023 to June 2024, the shareholding pattern of Elgi Equipments Ltd. showed a stable distribution among various investor categories, with the promoters consistently holding 31.19% of the total shares, reflecting their sustained confidence in the company. Foreign Institutional Investors (FIIs) exhibited slight fluctuations, starting at 29.33% in June 2023, briefly dipping to 28.82% in September, and then gradually rising to 29.47% by June 2024. Meanwhile, Domestic Institutional Investors (DIIs) steadily increased their stake from 4.87% to 5.00%, indicating growing domestic interest. The public shareholding, while remaining the largest, experienced a minor decline from 34.47% to 34.11% over the year. Additionally, the “Others” category saw a small rise from 0.14% to 0.23%. The number of shareholders fluctuated during this period, peaking at 58,126 in September 2023 and slightly reducing to 54,988 by June 2024, reflecting dynamic changes in the shareholder base.
Recent News on Elgi Equipments Ltd
Elgi Equipments Ltd has recently made several important updates reflecting its focus on governance, strategic restructuring, and leadership enhancement. The company has reported the loss of a share certificate and has initiated the procedure to issue a duplicate, demonstrating its diligence in safeguarding shareholder interests. In terms of its financial strategy, Elgi Equipments has completed the sale of its entire stake in G3 Industrial Solutions LLC, USA, receiving USD 324,429 from the transaction. This move indicates the company’s intention to streamline its investments and focus on its core competencies. Furthermore, Elgi Equipments has strengthened its management team by appointing Mr. Gaurav Gupta as the Chief Information Officer, effective August 12, 2024. This leadership change is expected to drive the company’s digital innovation efforts and enhance its standing in the global air compressor industry.
Below are the trading platforms that you can use to purchase Elgi Equipments shares:
- Zerodha
- Upstox
- Groww
- AngelOne
- ICICIDirect
| When | Maximum Price | Minimum Price |
| September 2024 | 743.75 | 646.74 |
| October 2024 | 736.39 | 640.34 |
| November 2024 | 765.85 | 665.95 |
| December 2024 | 773.50 | 672.61 |
In 2024, Elgi Equipments is projected to experience varying price levels. In September 2024, the maximum price is expected to reach ₹743.75, while the minimum price could hover around ₹646.74. As we approach October, the maximum price is anticipated to slightly dip to ₹736.39, with a corresponding minimum price of ₹640.34. Moving into November, Elgi Equipments’ price might see an upward trend, with the maximum potentially reaching ₹765.85 and the minimum price around ₹665.95. Finally, as we conclude the year in December 2024, the maximum price of Elgi Equipments is likely to rise further to ₹773.50, with a minimum price estimated at ₹672.61.
| When | Maximum Price | Minimum Price |
| January 2025 | 781.24 | 600.95 |
| February 2025 | 789.13 | 607.02 |
| March 2025 | 805.70 | 619.77 |
| April 2025 | 797.72 | 613.63 |
| May 2025 | 774.49 | 595.76 |
| June 2025 | 809.34 | 622.57 |
| July 2025 | 793.47 | 610.36 |
| August 2025 | 818.01 | 629.24 |
| September 2025 | 827.83 | 636.79 |
| October 2025 | 849.35 | 653.35 |
| November 2025 | 870.59 | 669.68 |
| December 2025 | 909.76 | 699.82 |
As we step into 2025, Elgi Equipments is projected to experience fluctuating price movements. Starting in January, the maximum price may reach ₹781.24 and rise steadily through the year, peaking at ₹909.76 by December. The minimum price is expected to start at ₹600.95 in January, with gradual increases, reaching up to ₹699.82 in December.
| When | Maximum Price | Minimum Price |
| January 2026 | 937.06 | 720.81 |
| February 2026 | 913.63 | 702.79 |
| March 2026 | 931.90 | 716.85 |
| April 2026 | 950.92 | 731.48 |
| May 2026 | 941.51 | 724.24 |
| June 2026 | 965.04 | 742.34 |
| July 2026 | 946.12 | 727.79 |
| August 2026 | 975.38 | 750.29 |
| September 2026 | 994.89 | 765.30 |
| October 2026 | 1,020.76 | 785.20 |
| November 2026 | 1,046.28 | 804.83 |
| December 2026 | 1,072.43 | 824.95 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,083.16 | 833.20 |
| February 2027 | 1,110.93 | 854.56 |
| March 2027 | 1,154.26 | 887.89 |
| April 2027 | 1,131.62 | 870.48 |
| May 2027 | 1,098.66 | 845.13 |
| June 2027 | 1,148.10 | 883.16 |
| July 2027 | 1,125.59 | 865.84 |
| August 2027 | 1,160.40 | 892.62 |
| September 2027 | 1,201.02 | 923.86 |
| October 2027 | 1,232.25 | 947.88 |
| November 2027 | 1,263.05 | 971.58 |
| December 2027 | 1,294.63 | 995.87 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,320.52 | 1,015.78 |
| February 2028 | 1,354.38 | 1,041.83 |
| March 2028 | 1,407.20 | 1,082.46 |
| April 2028 | 1,379.61 | 1,061.24 |
| May 2028 | 1,339.43 | 1,030.33 |
| June 2028 | 1,399.70 | 1,076.69 |
| July 2028 | 1,372.25 | 1,055.58 |
| August 2028 | 1,414.70 | 1,088.23 |
| September 2028 | 1,464.21 | 1,126.32 |
| October 2028 | 1,502.28 | 1,155.60 |
| November 2028 | 1,539.84 | 1,184.49 |
| December 2028 | 1,578.33 | 1,214.10 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,609.90 | 1,238.38 |
| February 2029 | 1,651.18 | 1,270.14 |
| March 2029 | 1,715.57 | 1,319.67 |
| April 2029 | 1,681.94 | 1,293.80 |
| May 2029 | 1,632.95 | 1,256.11 |
| June 2029 | 1,706.43 | 1,312.64 |
| July 2029 | 1,672.97 | 1,286.90 |
| August 2029 | 1,724.71 | 1,326.70 |
| September 2029 | 1,785.08 | 1,373.14 |
| October 2029 | 1,831.49 | 1,408.84 |
| November 2029 | 1,877.28 | 1,444.06 |
| December 2029 | 1,924.21 | 1,480.16 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,962.69 | 1,509.76 |
| February 2030 | 2,013.02 | 1,548.47 |
| March 2030 | 2,091.53 | 1,608.87 |
| April 2030 | 2,050.51 | 1,577.32 |
| May 2030 | 1,990.79 | 1,531.38 |
| June 2030 | 2,080.38 | 1,600.29 |
| July 2030 | 2,039.58 | 1,568.91 |
| August 2030 | 2,102.66 | 1,617.43 |
| September 2030 | 2,176.26 | 1,674.04 |
| October 2030 | 2,232.84 | 1,717.57 |
| November 2030 | 2,288.66 | 1,760.51 |
| December 2030 | 2,345.88 | 1,804.52 |
In 2030, Elgi Equipments is projected to witness significant price volatility, with the maximum price starting at ₹1,962.69 in January. As the year progresses, this maximum is expected to increase, reaching ₹2,091.53 by March, and peaking at ₹2,345.88 in December. The minimum price for January is likely to be around ₹1,509.76, gradually rising to ₹1,804.52 by December.
Financial Condition of Elgi Equipments for the Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,829 | 1,924 | 2,525 | 3,041 | 3,218 | 3,295 |
| Expenses + | 1,692 | 1,707 | 2,227 | 2,604 | 2,727 | 2,784 |
| Operating Profit | 138 | 217 | 298 | 437 | 491 | 511 |
| OPM % | 8% | 11% | 12% | 14% | 15% | 16% |
| Other Income + | 14 | 25 | 54 | 175 | 60 | 54 |
| Interest | 17 | 15 | 15 | 24 | 34 | 33 |
| Depreciation | 65 | 74 | 74 | 78 | 77 | 77 |
| Profit before tax | 70 | 153 | 263 | 510 | 440 | 454 |
| Tax % | 39% | 33% | 32% | 27% | 29% | |
| Net Profit + | 43 | 102 | 178 | 371 | 312 | 324 |
| EPS in Rs | 1.34 | 3.23 | 5.63 | 11.7 | 9.84 | 10.24 |
| Dividend Payout % | 61% | 25% | 20% | 17% | 20% |
Elgi Equipments Ltd. demonstrated strong financial growth over the past five years, showing steady improvements in key performance metrics. From March 2020 to March 2024, the company’s sales increased from ₹1,829 crore to ₹3,218 crore, reflecting a solid upward trajectory, which continued to rise to ₹3,295 crore in the trailing twelve months (TTM). Correspondingly, expenses grew from ₹1,692 crore to ₹2,727 crore over the same period, maintaining a controlled cost structure that allowed the operating profit to improve from ₹138 crore in March 2020 to ₹491 crore in March 2024, and further to ₹511 crore in the TTM. The Operating Profit Margin (OPM) also saw significant growth, improving from 8% in March 2020 to 16% in the TTM, highlighting enhanced operational efficiency.
Other income peaked in March 2023 at ₹175 crore before stabilizing at ₹54 crore in the TTM. Interest expenses remained relatively low, ranging from ₹15 crore to ₹34 crore, while depreciation stayed steady at around ₹77 crore in the recent years. The profit before tax (PBT) increased from ₹70 crore in March 2020 to ₹440 crore in March 2024, although it slightly declined to ₹454 crore in the TTM. The net profit also showed a consistent upward trend, rising from ₹43 crore in March 2020 to ₹312 crore in March 2024 and reaching ₹324 crore in the TTM, despite fluctuating tax rates. Earnings per share (EPS) surged from ₹1.34 to ₹9.84, with a marginal increase to ₹10.24 in the TTM. The dividend payout ratio varied, starting at 61% in March 2020 and settling around 20% in recent years, reflecting a balance between rewarding shareholders and retaining earnings for growth. Overall, Elgi Equipments Ltd.’s financial performance exhibits robust growth, operational efficiency, and sound fiscal management.
FAQS
As of September 13th, 2024, the share price of Elgi Equipments is around INR 724.
Based on various market analyses and expert opinions, the expected share price target of Elgi Equipments by 2024 is around INR 773.50.
As per our analysis, Elgi Equipments in 2025 is expected to trade between ₹595.76 and ₹909.76.
As per our analysis, Elgi Equipments share price target for 2030 would be somewhere between ₹1,509.76 and ₹2,345.88.
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Conclusion
In conclusion, Elgi Equipments Ltd. has established itself as a global leader in air compressor manufacturing, consistently expanding its market presence and maintaining a robust financial performance. The shareholding pattern from June 2023 to June 2024 shows stability among promoters while reflecting minor fluctuations among FIIs and DIIs, suggesting sustained investor confidence. The share price predictions from 2024 to 2030 indicate a positive upward trend, with gradual increases over the years, signaling strong future growth prospects. The company’s financial performance over the last five years reveals significant improvement in sales, operating profit margins, and net profit, demonstrating effective cost management and a focus on innovation and sustainability. Recent strategic moves, including asset restructuring and leadership changes, further highlight Elgi’s commitment to enhancing its global market position and driving long-term growth.
What did we learn?
- 1 Shareholding Patterns of Elgi Equipments Ltd
- 2 Recent News on Elgi Equipments Ltd
- 3 How to Purchase Elgi Equipments shares?
- 4 Elgi Equipments Share Price Prediction: 2024 to 2030
- 4.1 Elgi Equipments Share Price Target 2024
- 4.2 Elgi Equipments Share Price Prediction 2025
- 4.3 Elgi Equipments Share Price Target 2026
- 4.4 Elgi Equipments Share Price Prediction 2027
- 4.5 Elgi Equipments Share Price Target 2028
- 4.6 Elgi Equipments Share Price Target 2029
- 4.7 Elgi Equipments Share Price Target 2030
- 5 Financial Condition of Elgi Equipments for the Last 5 Years
- 6 FAQS
- 7 Conclusion
