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Coimbatore-based manufacturer of air compressors sold to industrial customers in India and globally.
Coimbatore-based manufacturer of air compressors sold to industrial customers in India and globally.
Sells compressors to industry, directly and through distributors, then earns repeat income from spare parts, consumables and servicing as the machines wear. It makes a good part of its sales abroad, including in Europe and North America, through its own sales companies.
In one line: A smaller Indian peer to Ingersoll Rand for air compressors.
Moat: narrow (brand, distribution, process know-how). Strong global distribution/service network and engineering built over decades in a niche industrial category.
Headquarters: Coimbatore, India · Founded: 1960 · Employees: 2,340
Size ELGI Equipments (ELGIEQUIP.NS) is an India Industrials company (Industrial Machinery) with a market value of $1.87B, the 383rd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹556.90 on 6 Nov 2026.
Performance Over six months the shares fell 1.0%, against -10.4% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue grew 15.9% over the last twelve months (peer median +9.9%); the operating margin is 12.6% (peer median 13.8%).
Valuation It trades at 35.0× forward earnings against a peer median of 18.7× (6th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.6 points above its cost of capital (12.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹41.5B | ₹39.5B | ₹35.1B | ₹32.2B | ₹30.4B |
| Revenue growth | — | +13% | +9% | +6% | — |
| Gross profit | ₹12.1B | ₹10.5B | ₹9.41B | ₹8.36B | ₹7.90B |
| EBITDA | ₹6.13B | ₹6.04B | ₹5.48B | ₹4.96B | ₹4.45B |
| Net income | ₹4.48B | ₹4.30B | ₹3.50B | ₹3.12B | ₹3.71B |
| Free cash flow | n/a | ₹3.42B | ₹3.13B | ₹2.44B | ₹967M |
| Capital expenditure | n/a | ₹1.54B | ₹948M | ₹489M | ₹690M |
| Total debt | n/a | ₹5.33B | ₹5.77B | ₹6.38B | ₹5.74B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| ELGI Equipments ELGIEQUIP.NS | $1.87B | -1% | +16% | 13% | 35.0× | 30.6% |
| Atlas Copco ATCO-A.ST | $87.5B | +4% | +3% | 20% | 29.7× | 17.7% |
| Ingersoll Rand IR | $31.9B | +10% | +8% | 19% | 21.8× | 17.3% |
| Kirloskar Pneumatic KIRLPNU.NS | $846M | -23% | +9% | 18% | 29.0× | 26.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ELGIEQUIP.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.5% | -4.9% | 9th lowest of 21 |
| 6-month return | -1.0% | -10.4% | 6th highest of 19 |
| Distance from 52-week high | -14.8% | -27.3% | 4th highest of 21 |
| Revenue growth (TTM) | +15.9% | +9.9% | 10th highest of 21 |
| Operating margin | 12.6% | 13.8% | 10th lowest of 21 |
| Forward P/E | 35.0× | 18.7× | 6th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 30.6% | 11.4% | 4th most demanding of 14 |
| Growth delivered (Del g) | +15.5% | +12.2% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | +15.2 pp | -2.6 pp | 5th most demanding of 14 |
| ROIC minus cost of capital | +4.6 pp | +2.8 pp | 7th highest of 21 |
| EV / EBITDA | 28.9× | 13.6× | 5th most expensive of 13 |
| Net debt / EBITDA | -0.5× | -0.1× | 5th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ELGI Equipments ELGIEQUIP.NS | India | $1.87B | -1% | +16% | 13% | 35.0× | 30.6% | +15.5% |
| OSG 6136.T | Japan | $1.88B | -2% | +20% | 18% | 11.4× | 1.7% | +9.0% |
| Wuxi Rich Intelligent Equipment 301599.SZ | China | $1.87B | -54% | +9% | 13% | n/a | 31.2% | +9.2% |
| Ta Liang Technology 3167.TW | Taiwan | $1.89B | -9% | +103% | 23% | 19.6× | 31.8% | +15.9% |
| Shenzhen Yinghe Technology 300457.SZ | China | $1.84B | -34% | +27% | 6% | 18.6× | 11.4% | +31.7% |
| Excelland Robotics (Wuxi) 3231.HK | Hong Kong | $1.91B | n/a | +19% | -36% | n/a | n/a | n/a |
| Xiangtan Electric Manufacturing 600416.SS | China | $1.83B | -33% | -3% | -2% | 414.0× | n/a | n/a |
| Suzhou Secote Precision Electronic 603283.SS | China | $1.92B | -12% | +9% | 20% | 20.2× | n/a | n/a |
| Systemair SYSR.ST | Sweden | $1.83B | +16% | +3% | 9% | 18.6× | 13.4% | +8.0% |
| Jiangxi Guoke Defence 688543.SS | China | $1.83B | -7% | +2% | 16% | 42.7× | n/a | n/a |
| Midera Food Processing MFP | United States | $1.92B | n/a | +11% | 14% | 16.4× | 0.9% | +10.5% |
| LMW LMW.NS | India | $1.93B | +14% | +19% | 4% | 55.9× | n/a | n/a |
| Zhejiang Dun'an Artificial Environment 002011.SZ | China | $1.81B | -4% | +8% | 8% | 11.4× | -0.4% | +12.2% |
| INOX India INOXINDIA.NS | India | $1.79B | +20% | +23% | 18% | 47.3× | 37.9% | +21.8% |
| Gorman-Rupp GRC | United States | $1.79B | -12% | +6% | 16% | 21.5× | 11.8% | +14.4% |
| CIMC Enric 3899.HK | Hong Kong | $1.96B | -32% | +6% | 4% | 10.4× | -4.7% | +15.6% |
| Beijing OriginWater Technology 300070.SZ | China | $1.78B | -16% | -10% | 5% | 54.1× | 17.0% | -4.1% |
| Shareate Tools 688257.SS | China | $1.78B | -42% | +69% | 25% | 11.4× | n/a | n/a |
| Makino Milling Machine 6135.T | Japan | $1.99B | +35% | +17% | 12% | 10.1× | -3.2% | +17.5% |
| Enerpac Tool EPAC | United States | $1.99B | +9% | +6% | 20% | 18.8× | 3.8% | +4.3% |
| Kennametal KMT | United States | $1.76B | -36% | +32% | 31% | 8.9× | n/a | n/a |