Elgi Equipments Ltd is a distinguished global manufacturer of air compressors, based in Coimbatore, Tamil Nadu, India, with a rich history that dates back to its founding in 1960. Over the years, Elgi has transformed from a local enterprise into a formidable player in the global air compressor market, known for its commitment to quality, innovation, and sustainability. The company’s extensive product portfolio includes oil-lubricated and oil-free compressors, portable compressors, air accessories, and heat recovery systems, catering to a wide range of industrial and commercial applications. Operating in more than 120 countries, Elgi has established a strong international presence, supported by a vast network of distributors and service centers, ensuring that its products are readily available and backed by reliable support worldwide. The company is particularly renowned for its innovative approach to developing energy-efficient and sustainable compressed air solutions, which aligns with the global shift toward greener technologies. Under the leadership of Dr. Jairam Varadaraj, who has guided the company as Managing Director for nearly three decades, Elgi Equipments continues to push the boundaries of technology and expand its footprint in the global market. Dr. Varadaraj’s vision and strategic direction have helped the company not only enhance its market presence but also establish itself as a thought leader in the industry, focusing on delivering exceptional value to customers through high-quality, durable, and environmentally conscious products. With a strong emphasis on research and development, Elgi remains at the forefront of innovation, constantly striving to meet the evolving needs of its customers and contribute to a more sustainable future.
Shareholding Patterns of Elgi Equipments Ltd
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 31.19% | 31.19% | 31.19% | 31.19% | 31.19% |
| FIIs + | 29.33% | 28.82% | 29.02% | 29.54% | 29.47% |
| DIIs + | 4.87% | 4.84% | 4.92% | 4.97% | 5.00% |
| Public + | 34.47% | 34.96% | 34.70% | 34.12% | 34.11% |
| Others + | 0.14% | 0.18% | 0.16% | 0.16% | 0.23% |
| No. of Shareholders | 49,934 | 58,126 | 56,754 | 55,150 | 54,988 |
The shareholding pattern of Elgi Equipments Ltd. from June 2023 to June 2024 reveals consistent stakes by different investor groups, along with minor fluctuations among certain categories. The promoters maintained a steady holding of 31.19% throughout this period, indicating their continued confidence and stable involvement in the company. Foreign Institutional Investors (FIIs) exhibited slight variations in their stake, starting at 29.33% in June 2023, decreasing to 28.82% in September 2023, then slightly increasing to 29.02% in December 2023, and rising further to 29.54% in March 2024, before a marginal dip to 29.47% in June 2024.
Domestic Institutional Investors (DIIs) showed a gradual increase in their holdings, starting at 4.87% in June 2023 and climbing to 5.00% by June 2024, reflecting growing domestic institutional interest in the company. Public shareholding remained the largest segment but saw minor reductions over time, beginning at 34.47% in June 2023 and slightly dropping to 34.11% by June 2024. The “Others” category, including minor shareholders, showed a small increase from 0.14% in June 2023 to 0.23% in June 2024.
The total number of shareholders fluctuated over this period, peaking at 58,126 in September 2023 and subsequently decreasing to 54,988 by June 2024. This indicates dynamic changes in the shareholder base, potentially due to market conditions or strategic shifts in the company’s outlook.
Latest News on Elgi Equipments
Elgi Equipments Ltd has recently made several noteworthy announcements that reflect its ongoing commitment to operational excellence and strategic management. The company reported the loss of a share certificate and has started the formal process to issue a duplicate, ensuring regulatory compliance and maintaining shareholder confidence. In a strategic financial move, Elgi Equipments successfully divested its entire stake in G3 Industrial Solutions LLC, USA, for a total consideration of USD 324,429. This decision underscores the company’s focus on optimizing its global portfolio and concentrating resources on its core business areas. Additionally, Elgi has strengthened its leadership team with the appointment of Mr. Gaurav Gupta as the Chief Information Officer, effective August 12, 2024. This new appointment is expected to bolster the company’s digital transformation efforts and enhance its competitive edge in the global air compressor market.
How to Purchase Elgi Equipments shares?
Below are the trading platforms that you can use to purchase Elgi Equipments shares:
- Zerodha
- Upstox
- Groww
- AngelOne
- ICICIDirect
Elgi Equipments Share Price Prediction: 2024 to 2030
Elgi Equipments Share Price Target 2024
| When | Maximum Price | Minimum Price |
| September 2024 | 753.65 | 655.35 |
| October 2024 | 746.19 | 648.86 |
| November 2024 | 776.04 | 674.82 |
| December 2024 | 783.80 | 681.57 |
In September 2024, Elgi Equipments is expected to see its maximum price reaching around ₹753.65, with a minimum price of approximately ₹655.35. Moving into October 2024, the maximum price may slightly decline to ₹746.19, while the minimum is projected to hover around ₹648.86. In November 2024, Elgi Equipments could experience a rebound, with the maximum price anticipated to rise to ₹776.04 and the minimum to reach ₹674.82. As we step into December 2024, Elgi Equipments is likely to continue its upward trend, with the maximum price projected to peak at ₹783.80 and the minimum at ₹681.57.
Elgi Equipments Share Price Target 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 791.64 | 608.95 |
| February 2025 | 799.63 | 615.10 |
| March 2025 | 816.43 | 628.02 |
| April 2025 | 808.34 | 621.80 |
| May 2025 | 784.80 | 603.69 |
| June 2025 | 820.12 | 630.86 |
| July 2025 | 804.03 | 618.49 |
| August 2025 | 828.90 | 637.62 |
| September 2025 | 838.85 | 645.27 |
| October 2025 | 860.66 | 662.05 |
| November 2025 | 882.18 | 678.60 |
| December 2025 | 921.87 | 709.13 |
As we step into January 2025, Elgi Equipments is expected to see a maximum price of ₹791.64 and a minimum of ₹608.95. By December 2025, the maximum price could rise to ₹921.87, with a minimum of ₹709.13.
Elgi Equipments Share Price Target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 949.53 | 730.41 |
| February 2026 | 925.79 | 712.15 |
| March 2026 | 944.31 | 726.39 |
| April 2026 | 963.58 | 741.21 |
| May 2026 | 954.04 | 733.88 |
| June 2026 | 977.89 | 752.22 |
| July 2026 | 958.71 | 737.47 |
| August 2026 | 988.37 | 760.28 |
| September 2026 | 1,008.13 | 775.49 |
| October 2026 | 1,034.34 | 795.65 |
| November 2026 | 1,060.20 | 815.54 |
| December 2026 | 1,086.71 | 835.93 |
Elgi Equipments Share Price Target 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 1,097.58 | 844.29 |
| February 2027 | 1,125.72 | 865.94 |
| March 2027 | 1,169.62 | 899.71 |
| April 2027 | 1,146.69 | 882.07 |
| May 2027 | 1,113.29 | 856.38 |
| June 2027 | 1,163.39 | 894.91 |
| July 2027 | 1,140.58 | 877.37 |
| August 2027 | 1,175.85 | 904.50 |
| September 2027 | 1,217.01 | 936.16 |
| October 2027 | 1,248.65 | 960.50 |
| November 2027 | 1,279.86 | 984.51 |
| December 2027 | 1,311.86 | 1,009.12 |
Elgi Equipments Share Price Target 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 1,338.10 | 1,029.31 |
| February 2028 | 1,372.41 | 1,055.70 |
| March 2028 | 1,425.93 | 1,096.87 |
| April 2028 | 1,397.97 | 1,075.36 |
| May 2028 | 1,357.25 | 1,044.04 |
| June 2028 | 1,418.33 | 1,091.02 |
| July 2028 | 1,390.52 | 1,069.63 |
| August 2028 | 1,433.53 | 1,102.71 |
| September 2028 | 1,483.70 | 1,141.31 |
| October 2028 | 1,522.28 | 1,170.98 |
| November 2028 | 1,560.33 | 1,200.26 |
| December 2028 | 1,599.34 | 1,230.26 |
Elgi Equipments Share Price Target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 1,631.33 | 1,254.87 |
| February 2029 | 1,673.16 | 1,287.04 |
| March 2029 | 1,738.41 | 1,337.24 |
| April 2029 | 1,704.32 | 1,311.02 |
| May 2029 | 1,654.68 | 1,272.83 |
| June 2029 | 1,729.14 | 1,330.11 |
| July 2029 | 1,695.24 | 1,304.03 |
| August 2029 | 1,747.67 | 1,344.36 |
| September 2029 | 1,808.84 | 1,391.41 |
| October 2029 | 1,855.87 | 1,427.59 |
| November 2029 | 1,902.26 | 1,463.28 |
| December 2029 | 1,949.82 | 1,499.86 |
Elgi Equipments Share Price Target 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 1,988.82 | 1,529.86 |
| February 2030 | 2,039.81 | 1,569.09 |
| March 2030 | 2,119.37 | 1,630.28 |
| April 2030 | 2,077.81 | 1,598.31 |
| May 2030 | 2,017.29 | 1,551.76 |
| June 2030 | 2,108.07 | 1,621.59 |
| July 2030 | 2,066.73 | 1,589.80 |
| August 2030 | 2,130.65 | 1,638.96 |
| September 2030 | 2,205.23 | 1,696.33 |
| October 2030 | 2,262.56 | 1,740.43 |
| November 2030 | 2,319.13 | 1,783.94 |
| December 2030 | 2,377.10 | 1,828.54 |
In January 2030, Elgi Equipments is projected to have a maximum price of ₹1,988.82 and a minimum of ₹1,529.86. By December 2030, the maximum price could reach ₹2,377.10, with a minimum of ₹1,828.54.
Financial Condition of Elgi Equipments for the Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,829 | 1,924 | 2,525 | 3,041 | 3,218 | 3,295 |
| Expenses + | 1,692 | 1,707 | 2,227 | 2,604 | 2,727 | 2,784 |
| Operating Profit | 138 | 217 | 298 | 437 | 491 | 511 |
| OPM % | 8% | 11% | 12% | 14% | 15% | 16% |
| Other Income + | 14 | 25 | 54 | 175 | 60 | 54 |
| Interest | 17 | 15 | 15 | 24 | 34 | 33 |
| Depreciation | 65 | 74 | 74 | 78 | 77 | 77 |
| Profit before tax | 70 | 153 | 263 | 510 | 440 | 454 |
| Tax % | 39% | 33% | 32% | 27% | 29% | |
| Net Profit + | 43 | 102 | 178 | 371 | 312 | 324 |
| EPS in Rs | 1.34 | 3.23 | 5.63 | 11.7 | 9.84 | 10.24 |
| Dividend Payout % | 61% | 25% | 20% | 17% | 20% |
Elgi Equipments Ltd. has shown robust financial growth over the past five years, with sales increasing from ₹1,829 crore in March 2020 to ₹3,218 crore in March 2024, and further to ₹3,295 crore in the trailing twelve months (TTM). Expenses grew in tandem but were well-managed, leading to a rise in operating profit from ₹138 crore to ₹511 crore over the same period, and an improvement in the operating profit margin from 8% to 16%. The company’s profit before tax expanded significantly from ₹70 crore in March 2020 to ₹454 crore in the TTM, while net profit grew from ₹43 crore to ₹324 crore. Earnings per share (EPS) saw a substantial increase, moving from ₹1.34 to ₹10.24 in the TTM. Despite some fluctuation in the dividend payout ratio, which settled around 20% in recent years, Elgi Equipments Ltd. continues to maintain a balance between rewarding shareholders and reinvesting for future growth, demonstrating sound financial management and sustained operational efficiency.
FAQs
What is Elgi Equipmentscurrent market capitalization?
Elgi Equipments currently holds a market capitalization of ₹23,195 crores.
What is Elgi Equipments projected share price range for 2024?
Elgi Equipments share price for 2024 is anticipated to fluctuate between ₹648.86 (minimum) and ₹783.80 (maximum).
What is Elgi Equipments anticipated share price range for 2025?
Elgi Equipments expects its share price to vary from ₹603.69 (minimum) to ₹921.87 (maximum) in 2025.
What is Elgi Equipments estimated share price range for 2030?
Looking ahead, Elgi Equipments projects its share price to range between ₹1,529.86 (minimum) to ₹2,377.10 (maximum) by 2030.
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Conclusion: Assessing Investment Potential in Elgi Equipments for 2024
Elgi Equipments Ltd. has demonstrated impressive financial performance over the past five years, reflecting its strong operational efficiency and strategic growth. With sales increasing from ₹1,829 crore in March 2020 to ₹3,218 crore in March 2024, and further to ₹3,295 crore in the trailing twelve months (TTM), the company has shown robust growth. Operating profit surged from ₹138 crore to ₹511 crore, while the operating profit margin improved significantly from 8% to 16%. The profit before tax grew from ₹70 crore to ₹454 crore, and net profit expanded from ₹43 crore to ₹324 crore. Earnings per share (EPS) increased substantially from ₹1.34 to ₹10.24 in the TTM, highlighting the company’s effective management and shareholder value enhancement. Despite minor fluctuations in the dividend payout ratio, which stands at around 20%, Elgi Equipments continues to balance rewarding shareholders with reinvesting for future growth. This financial resilience and strategic focus position Elgi Equipments favorably for continued success and expansion in the coming years.
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