NSE: ELGIEQUIP | BSE: 522074

Mid-range Performer

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484.45 -11.05 (-2.23%)

30.68% Fall from 52W High

77,635 NSE+BSE Volume

NSE 26 Sep, 2025 10:02 AM (IST)

15,352.7

Market Cap

Market Leader

1.3

Beta 1Year

Very High Volatility

Elgi Equipments Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for ELGIEQUIP, BSE:522074 Elgi Equipments Ltd.

Elgi Equipments Ltd.

15 Feb 2022

484.45

-2.23%

Elgi Equipments

Buy: Elgi Equipments Ltd.

Target

ICICI Securities Limited

...

Elgi Equipments Ltd. has an average target of 559.00 from 1 broker.

Elgi Equipments Ltd.

13 Nov 2021

484.45

-2.23%

Elgi Equipments

Buy: Elgi Equipments Ltd.

ICICI Securities Limited

Elgi Equipments Ltd. is trading below all available SMAs

Elgi Equipments Ltd.

05 Aug 2021

484.45

-2.23%

Elgi Equipments

Buy: Elgi Equipments Ltd.

ICICI Securities Limited

...

Elgi Equipments Ltd.'s price crossed below 30Day SMA today

Elgi Equipments Ltd.

22 May 2021

484.45

-2.23%

Elgi Equipments

Buy: Elgi Equipments Ltd.

Target

ICICI Securities Limited

In Q4FY21, air compressor international sales (including exports from India) is estimated to have contributed ~45% to air compressor sales in Q4FY21. It continues to perform well in key international markets led by Australia, US, Europe while South East Asia and Gulf are expected to rebound gradually. Margins are expected to further improve due to ramp-up in international business, optimisation of operating cost leading to incremental revenue, future growth and positive operating leverage. Also, Elgi is expected to...

Number of FII/FPI investors increased from 177 to 188 in Jun 2025 qtr.

Elgi Equipments Ltd.

10 Feb 2021

484.45

-2.23%

Elgi Equipments

Buy: Elgi Equipments Ltd.

Target

ICICI Securities Limited

India business seeing decent traction amid economic recovery Elgi's standalone air compressor (domestic & direct exports compressor) grew 14.2% YoY to | 323.0 crore (~59% of consolidated topline). Pure domestic air compressor sales came in better than expected with growth of ~20% YoY | 264 crore. Elgi is on track in its strategy to optimise employee cost and primarily in India business. Elgi has seen activities across all major industries and expects further revival in capacity building with smaller incremental investments by industries. Its disrupted AB series oil free...

Elgi Equipments Ltd. has an average target of 559.00 from 1 broker.

Elgi Equipments Ltd.

07 Jan 2021

484.45

-2.23%

Elgi Equipments

Buy: Elgi Equipments Ltd.

Target

ICICI Securities Limited

Overall, Elgi's strategy to expand in new geographies in Europe, continued growth momentum in the US, Australia and expected rebound in South East Asia & Gulf markets are expected to contribute significantly to incremental growth in coming years. A rebound was visible in Q2FY21 performance with air compressor international sales (including exports from India) contributing ~57% to total air compressor sales registering growth of ~39% to | 253 crore YoY. It performed well in key international markets led by Australia, US, Europe while South East Asia, and Gulf reported moderate...

Elgi Equipments Ltd. has an average target of 559.00 from 1 broker.

Elgi Equipments Ltd.

10 Nov 2020

484.45

-2.23%

Elgi Equipments

Buy: Elgi Equipments Ltd.

ICICI Securities Limited

Visible green shoots in India business amid challenges Elgi's standalone air compressor (domestic plus direct export) revenue declined mere 3% to | 263 crore in Q2FY21. While pure domestic air compressor sales came in better than expected with decline of 11% YoY to | 191 crore. Elgi is on track on its strategy to curtail employee cost and reduce fixed cost by ~15-20% in FY21E primarily in India business. Elgi has seen activities across all major industries and expects further revival in capacity building with smaller incremental investments by industries. Its...

Elgi Equipments Ltd. is trading below all available SMAs

Elgi Equipments Ltd.

24 Sep 2020

484.45

-2.23%

Elgi Equipments

Hold: Elgi Equipments Ltd.

ICICI Securities Limited

Going ahead, traction in international market, new products like oil free compressors (AB series) would aid growth while a revival is expected in the India business, which continues to face challenges across verticals. However, its strategy on cost reduction, focus on cash business would help deal with working capital, debt and liquidity situation. We expect revenue, EBITDA growth of 7.1%, 30.1% CAGR, respectively, in FY20-22E. We revise...

Number of FII/FPI investors increased from 177 to 188 in Jun 2025 qtr.

Elgi Equipments Ltd.

18 Aug 2020

484.45

-2.23%

Elgi Equipments

Hold: Elgi Equipments Ltd.

Target

ICICI Securities Limited

Headwinds continue for India business amid challenges Elgi's domestic air compressor sales remained subdued in Q1FY21. The company is on track in its strategy to curtail employee cost and reduce fixed cost by 15-20% in FY21E primarily in India business. Elgi has seen activities across all major industries and expects some revival in capacity building with smaller incremental investments by industries. Its disrupted AB series oil free compressor that is gaining good traction in India as well as abroad. After-market (~24% to India topline), is likely to start gaining traction from...

Elgi Equipments Ltd. has an average target of 559.00 from 1 broker.

Elgi Equipments Ltd.

01 Jul 2020

484.45

-2.23%

Elgi Equipments

Hold: Elgi Equipments Ltd.

Target

ICICI Securities Limited

Headwinds continue for India business amid challenges Macroeconomic headwinds continued to impact Elgi's domestic air compressor sales growth in Q4FY20. The company adopted a strategy to curtail employee cost and reduce fixed cost by 15-20% in FY21E mainly in India business. However, the management expects some revival in capacity building in food & beverage, pharma to gain further traction with its disrupted AB series oil free compressor that is gaining good traction in India. After-market (~24% to India topline), is likely to start gaining traction from...

Elgi Equipments Ltd. has lost -29.93% in the last 1 Year

Is Elgi Equipments Ltd. worth buying?

165 Votes:

Buy 76.97%

Sell 14.55%

Hold 8.48%

RESEARCH REPORTS

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