Elgi Equipments Recorded 107.82% Growth in Q4 Profit;Stocks up by 18%!

As the financial results season is on, Elgi Equipments Ltd has reported results for Q4FY23 and year ended on March 31, 2023.         

In comparison to the same quarter last year, the company’s net profit for the fourth quarter that ended on March 31, 2023, increased by 132.82% to Rs 170.10 crore from Rs 73.06 crore on a consolidated basis. In Q4FY23, the company’s total revenue climbed by 15.63% to Rs 858.62 crore from Rs 742.57 crore in the similar quarter the prior year.      

The company reported 107.82% increase in net profit for the year ended March 31, 2023, from Rs 178.43 crore to Rs 370.81 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company’s total revenue climbed by 20.48%, reaching Rs 3107.91 crore as compared to Rs 2579.68 crore for year ended March 31, 2022.      

Subject to approval by the shareholders at the following Annual General Meeting (AGM), the company board suggested 200% final dividend of Rs 2 per equity share with a face value of Rs 1 for the financial year 2022–2023. 

In last trading session, the scrip closed at Rs 471.60. On Monday, it opened at Rs 482.85 and currently it is trading at Rs 554.35, up by 17.55%, So far total 2,10,137 shares were traded on BSE. The BSE group ‘A’ stock has market cap of around Rs 17,550 crore. It has 52-week high of Rs 566.50 and 52-week low of Rs 316.15.  

Elgi Equipments incorporated in 1960; is a leading air compressor manufacturer with a broad line of innovative and technologically superior compressed air systems. It has earned worldwide distinction for designing sustainable solutions that help companies achieve their productivity goals and keep the cost of ownership low. It offers a complete range of compressed air solutions and the company’s portfolio consists of over 400 products that have found wide application across industries.