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Dossier · ELGI EQUIPMENTS LTD · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Makes air compressors and a smaller range of automotive equipment, with Air Compressors generating Rs 3,613.4 crore of FY26 segment revenue (EBIT Rs 548.4 crore) and Automotive equipment Rs 338.6 crore (EBIT Rs 37.1 crore). Materials form the largest cost at 36.4% of revenue, followed by employee costs at 19.6%. The global air compressor market is estimated at USD 23bn in FY26 and is growing at 3.5% per year, where Atlas Copco and Ingersoll Rand together hold just over half the share. This company is ranked #6 globally in air compressors. A 50% US tariff on its products is scheduled to ease to 18% in H2 FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Air Compressors (91%), Automotive equipment (9%). Industrial cyclical, compressor manufacturing-led
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
2,525
3,041
3,218
3,510
3,951
EBITDA (ex other income)
292
538
486
525
564
margin %
11.6
17.7
15.1
15.0
14.3
Owners' profit
178
371
312
350
430
EPS, as reported (₹)
321.95
11.72
9.86
11.09
13.65
ROE % · ROCE %
17.3 · 23.5
27.0 · 35.6
19.4 · 27.0
18.8 · 25.9
19.3 · 25.4
Debt / equity (x)
0.36
0.37
0.35
0.26
0.18
Cash from operations
69
166
288
391
454
Capex
(41)
(69)
(49)
(95)
(154)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ELGI EQUIPMENTS LTD · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
869
848
993
867
968
1,003
1,113
1,062
Profit before tax
128
109
139
115
164
127
165
138
Net profit
95
81
102
86
121
95
128
103
EPS (₹)
2.99
2.55
3.23
2.71
3.85
3.01
4.06
3.28
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Air Compressors
3,613
91.4
Automotive equipment
339
8.6
Total, before eliminations
3,952
100.0
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
CUMMINS INDIA LTD
1,28,219
54.2
15.13
42.1
27.9
31.8
22.7
22.0
KIRLOSKAR OIL ENG LTD
27,699
50.7
7.75
22.2
15.7
10.9
18.5
15.8
ELGI EQUIPMENTS LTD ◆
16,291
36.2
7.30
24.2
19.3
24.3
15.5
15.9
KIRLOSKAR BROTHERS LTD
12,484
33.4
5.04
21.1
15.2
16.8
10.8
11.8
INGERSOLL-RAND INDIA LTD
12,186
45.5
19.79
—
41.6
54.7
—
26.4
KSB LIMITED
11,345
46.2
6.68
—
5.7
6.7
—
12.6
SHAKTI PUMPS (I) LTD
4,481
21.1
2.63
10.1
15.1
19.6
23.7
10.9
GREAVES COTTON LTD.
4,228
42.2
2.79
17.5
2.3
5.9
18.0
6.9
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
36.2
42.2
7 of 15
57%
P/B
7.3
4.7
11 of 15
29%
ROCE
24.3
16.9
6 of 15
64%
ROE
19.3
15.2
6 of 15
64%
Debt / Equity
0.2
0.1
10 of 15
36%
EBITDA margin
15.8
15.8
7 of 15
57%
Revenue growth
22.6
17.9
5 of 15
71%
Profit growth
20.7
11.1
5 of 15
71%
Market cap
16291
4228
3 of 15
86%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ELGI EQUIPMENTS LTD · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
28 Oct 2026 · Elgi schedules Q2 FY27 analyst and investor earnings call
board shareholder meetings
low
—
—
23 Oct 2026 · Special transfer window for older physical shares
compliance
minimal
—
—
22 Oct 2026 · Board to approve September 2026 financial results
results
low
—
—
15 Oct 2026 · NSE Sustainability assigns ESG rating of 68, category Aspiring
business updates
low
—
—
8 Oct 2026 · Routine compliance certificate on share dematerialisation for September 2026 quarter
compliance
minimal
—
—
22 Sept 2026 · Trading Window closed from Oct 1 ahead of Q2 results
compliance
minimal
—
—
13 Sept 2026 · ESG Rating of 64 Performer assigned to Elgi Equipments
business updates
medium
—
—
4 Sept 2026 · ELGI Equipments subsidiary divests entire stake in US JV Gentex Air Solutions
29 Aug 2026 · Elgi's US arm receives tariff refund of about 14.82 cr from US Customs
business updates
high
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
