“Demand in Indian and Middle Easter markets is quite buoyant. Sales has been muted in Europe due to the effects of the Ukraine war and rising raw material costs. Performance in the USA is picking up momentum; however, outlook remains cautious. Growth in the Australian, Brazilian and South-East Asian markets is by and large muted.”
Elgi Equipments Ltd, manufacturer of air compressors posted a consolidated sales for the quarter of ₹801 Crore as against ₹724 Crore in the corresponding quarter in 2023-2024, representing a growth of 11%. Standalone sales for the quarter were ₹472 Crore compared to ₹399 Crore for the same quarter in 2023-24, representing a growth of 18%.
The Company posted a PAT of ₹72.8 Crore for the June 2024 quarter, compared to a PAT of ₹60.5 Crore in the same period in 2023-2024, on a consolidated basis, representing a growth of 20%. The standalone PAT for the quarter was ₹72.8 Crore as compared to a PAT of ₹67.1 Crore in the same period in 2023-24.
Demand in Indian and Middle Easter markets is quite buoyant. Sales has been muted in Europe due to the effects of the Ukraine war and rising raw material costs. Performance in the USA is picking up momentum; however, outlook remains cautious. Growth in the Australian, Brazilian and South-East Asian markets is by and large muted.
Sales of the Company’s automotive garage equipment business increased marginally when compared to the corresponding period of 2023-24. Overall, the Company has demonstrated good growth led by India when compared to the same period last year.
Outlook for the second quarter -2024-25. The Company expects to grow its business at the same level as in the first quarter.
