Elgi Equipments Ltd, a maker of air compressors, reported consolidated sales of Rs. 801 Crores for the first quarter of 2024-25, up from Rs. 724 Crores in the same period last year, showing an 11% growth. Standalone sales were Rs. 472 Crores, compared to Rs. 399 Crores in the first quarter of 2023-24, an 18% increase.
The company’s consolidated PAT (Profit After Tax) for the June 2024 quarter was Rs. 72.8 Crores, up from Rs. 60.5 Crores in the same period last year, a 20% rise. The standalone PAT for the quarter was Rs. 72.8 Crores, compared to Rs. 67.1 Crores in the same period last year.
The Indian and Middle Eastern markets showed strong demand. Sales in Europe were lower due to the Ukraine war and rising raw material costs. Performance in the USA is improving but the outlook remains cautious. Growth in Australia, Brazil, and South-East Asia is slow.
Sales of the company’s automotive garage equipment business increased slightly compared to the same period in 2023-24. Overall, the company showed good growth, mainly driven by the Indian market. The company expects to grow its business at the same level as in the first quarter.
Elgi Equipments Limited is a global air compressor manufacturer known for its wide range of innovative and advanced compressed air systems. ELGi focuses on maximizing customer productivity and reducing ownership costs. The company offers oil-lubricated and oil-free rotary screw air compressors, reciprocating air compressors, centrifugal air compressors, dryers, filters, downstream accessories, and IoT solutions for 24×7 remote monitoring. With over 400 products, ELGi serves various industries.
