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Last Updated: April 2, 2026, 2:52 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 522074 | NSE: ELGIEQUIP

Elgi Equipments Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹374.84Overvalued by 21.75%vs CMP ₹479.00

P/E (36.6) × ROE (20.1%) × BV (₹63.40) × DY (0.46%)

₹214.04Overvalued by 55.32%vs CMP ₹479.00
MoS: -123.8% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹441.4223%Fair (-7.8%)
Graham NumberEarnings₹134.8617%Over (-71.8%)
Earnings PowerEarnings₹74.6111%Over (-84.4%)
DCFCash Flow₹270.5211%Over (-43.5%)
Net Asset ValueAssets₹63.357%Over (-86.8%)
EV/EBITDAEnterprise₹212.389%Over (-55.7%)
Earnings YieldEarnings₹127.507%Over (-73.4%)
ROCE CapitalReturns₹107.889%Over (-77.5%)
Revenue MultipleRevenue₹166.106%Over (-65.3%)
Consensus (9 models)₹214.04100%Overvalued
Key Drivers: Wide model spread (₹63–₹441) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 17.8%

*Investments are subject to market risks

Investment Snapshot

63
Elgi Equipments Ltd scores 63/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health87/100 · Strong
ROCE 21.9% ExcellentROE 20.1% ExcellentD/E 0.42 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -5.98% (6mo) SellingDII holding up 3.10% MF buyingPromoter holding at 31.2% Stable
Earnings Quality50/100 · Moderate
OPM stable around 15% Steady
Quarterly Momentum68/100 · Strong
Revenue (4Q): +9% YoY GrowingProfit (4Q): +19% YoY Positive
Industry Rank40/100 · Moderate
P/E 36.6 vs industry 39.0 In-lineROCE 21.9% vs industry 41.0% Below peers3Y sales CAGR: 12% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:52 am

Market Cap 15,183 Cr.
Current Price 479
Intrinsic Value₹214.04
High / Low 608/390
Stock P/E36.6
Book Value 63.4
Dividend Yield0.46 %
ROCE21.9 %
ROE20.1 %
Face Value 1.00
PEG Ratio2.06

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Elgi Equipments Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Elgi Equipments Ltd 15,183 Cr. 479 608/39036.6 63.40.46 %21.9 %20.1 % 1.00
Ingersoll-Rand (India) Ltd 11,469 Cr. 3,633 4,478/3,06341.4 2062.20 %60.0 %45.0 % 10.0
Industry Average13,326.00 Cr2,056.0039.00134.701.33%40.95%32.55%5.50

All Competitor Stocks of Elgi Equipments Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 739772836724806822866801869848993867968
Expenses 626659708635663692741687727728843746828
Operating Profit 11311312789143129125114142119150121140
OPM % 15%15%15%12%18%16%14%14%16%14%15%14%14%
Other Income 161812820131315141615182355
Interest 56557810986877
Depreciation 20202019191920191919201921
Profit before tax 10410523186130114110100131111140118167
Tax % 31%24%26%29%30%27%31%27%28%27%27%27%27%
Net Profit 72801706091847673958110286121
EPS in Rs 2.272.535.371.912.882.652.412.302.992.543.222.703.83

Last Updated: January 1, 2026, 9:04 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 11:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,3501,2941,4011,3701,6041,8631,8291,9242,5253,0413,2183,5103,831
Expenses 1,2491,2041,2741,2291,4261,6691,6921,7072,2272,6042,7272,9823,276
Operating Profit 10190127141178194138217298437491529555
OPM % 8%7%9%10%11%10%8%11%12%14%15%15%14%
Other Income 93261410111425541756063107
Interest 121714971117151524343427
Depreciation 26374445445165747478777680
Profit before tax 72687510013714470153263510440482554
Tax % 37%30%32%26%30%28%39%33%32%27%29%27%
Net Profit 464851749510343102178371312350404
EPS in Rs 1.441.521.612.343.013.251.343.235.6311.709.8511.0512.75
Dividend Payout % 35%33%31%21%20%20%61%25%20%17%20%20%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)4.35%6.25%45.10%28.38%8.42%-58.25%137.21%74.51%108.43%-15.90%12.18%
Change in YoY Net Profit Growth (%)0.00%1.90%38.85%-16.72%-19.96%-66.67%195.46%-62.70%33.92%-124.33%28.08%

Elgi Equipments Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:14%
3 Years:12%
TTM:9%
Compounded Profit Growth
10 Years:27%
5 Years:52%
3 Years:27%
TTM:12%
Stock Price CAGR
10 Years:23%
5 Years:35%
3 Years:-4%
1 Year:-31%
Return on Equity
10 Years:17%
5 Years:20%
3 Years:21%
Last Year:20%

Last Updated: September 5, 2025, 3:25 am

Balance Sheet

Last Updated: December 4, 2025, 1:12 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 16161616161616323232323232
Reserves 4484785305916737557538381,0011,3391,5801,8341,976
Borrowings 337367304251266238448465436577638577528
Other Liabilities 363296256250298366334430491531558594641
Total Liabilities 1,1641,1561,1061,1081,2531,3751,5511,7651,9592,4792,8073,0373,177
Fixed Assets 391454462441440504600572553587587592636
CWIP 861024264473105377
Investments 15151515151412243137418195
Other Assets 6726776276487958519351,1651,3671,8522,1702,3122,368
Total Assets 1,1641,1561,1061,1081,2531,3751,5511,7651,9592,4792,8073,0373,177

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 9778126126471723524069166285391
Cash from Investing Activity + -122-17-16-39-53-107-152-1102-217-101-283
Cash from Financing Activity + 20-52-100-77-10-6091-48-8160-79-217
Net Cash Flow -410109-175-2582-118105-109
Free Cash Flow -3355103987120-621144109243298
CFO/OP 123%106%119%102%49%114%57%124%49%65%92%100%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-236.00-277.00-177.00-110.00-88.00-44.00-310.00-248.00-138.00-140.00-147.00-48.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 666966657872697668666763
Inventory Days 11813210610911099128122130143145129
Days Payable 9282798386877810386758072
Cash Conversion Cycle 9211992911028311995112135132121
Working Capital Days 302834363938362336282730
ROCE %11%8%11%13%16%16%8%13%19%24%22%22%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 31.19%31.19%31.19%31.19%31.19%31.19%31.19%31.19%31.19%31.19%31.19%31.19%
FIIs 29.09%29.33%28.82%29.02%29.54%29.47%29.40%29.40%29.09%27.62%26.12%23.11%
DIIs 4.87%4.87%4.84%4.92%4.97%5.00%5.04%5.07%4.98%5.23%6.24%8.08%
Public 34.67%34.47%34.96%34.70%34.12%34.11%34.17%34.16%34.36%35.58%36.06%37.26%
Others 0.17%0.14%0.18%0.16%0.16%0.23%0.17%0.18%0.38%0.38%0.38%0.35%
No. of Shareholders 47,23649,93458,12656,75455,15054,98863,56865,97768,53376,95179,97192,465

Shareholding Pattern Chart

No. of Shareholders

Elgi Equipments Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund 10,000,000 1.25 431.210,000,0002025-04-22 14:12:250%
SBI Multicap Fund 9,020,000 1.69 388.943,395,8002025-12-15 02:19:00165.62%
WhiteOak Capital Flexi Cap Fund 240,524 0.15 10.37279,5912025-12-15 02:14:18-13.97%
WhiteOak Capital Multi Cap Fund 124,078 0.18 5.35N/AN/AN/A
WhiteOak Capital ELSS Tax Saver Fund 25,560 0.25 1.129,9592025-12-15 02:19:00-14.68%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 11.099.8611.725.643.24
Diluted EPS (Rs.) 11.089.8611.715.643.24
Cash EPS (Rs.) 13.2712.1014.077.945.53
Book Value[Excl.RevalReserv]/Share (Rs.) 58.8550.8443.2732.5827.45
Book Value[Incl.RevalReserv]/Share (Rs.) 58.8550.8443.2732.5827.45
Revenue From Operations / Share (Rs.) 110.74101.5495.9579.6760.71
PBDIT / Share (Rs.) 18.3817.0715.7810.967.55
PBIT / Share (Rs.) 15.9814.6513.328.615.20
PBT / Share (Rs.) 15.0213.7316.038.264.78
Net Profit / Share (Rs.) 10.879.6811.625.593.19
NP After MI And SOA / Share (Rs.) 11.059.8411.705.633.23
PBDIT Margin (%) 16.5916.8116.4413.7512.42
PBIT Margin (%) 14.4314.4313.8810.808.56
PBT Margin (%) 13.5613.5116.7010.367.86
Net Profit Margin (%) 9.819.5312.117.015.25
NP After MI And SOA Margin (%) 9.979.6912.197.065.32
Return on Networth / Equity (%) 18.7719.3527.0417.2811.78
Return on Capital Employeed (%) 25.8527.0428.5223.5416.18
Return On Assets (%) 11.5111.0514.829.085.80
Long Term Debt / Equity (X) 0.000.010.010.050.09
Total Debt / Equity (X) 0.260.340.370.350.42
Asset Turnover Ratio (%) 1.201.210.991.050.80
Current Ratio (X) 2.101.921.791.651.51
Quick Ratio (X) 1.541.361.201.061.06
Inventory Turnover Ratio (X) 5.701.972.523.282.21
Dividend Payout Ratio (NP) (%) 18.0420.289.8014.170.00
Dividend Payout Ratio (CP) (%) 14.8216.288.1010.000.00
Earning Retention Ratio (%) 81.9679.7290.2085.830.00
Cash Earning Retention Ratio (%) 85.1883.7291.9090.000.00
Interest Coverage Ratio (X) 19.1018.4425.2931.2617.74
Interest Coverage Ratio (Post Tax) (X) 12.3011.4514.3016.948.50
Enterprise Value (Cr.) 14924.2318846.5213869.858952.376135.10
EV / Net Operating Revenue (X) 4.255.864.563.553.19
EV / EBITDA (X) 25.6234.8427.7425.7825.65
MarketCap / Net Operating Revenue (X) 4.365.924.583.513.13
Retention Ratios (%) 81.9579.7190.1985.820.00
Price / BV (X) 8.2111.8310.168.586.93
Price / Net Operating Revenue (X) 4.365.924.583.513.13
EarningsYield 0.020.010.020.020.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Elgi Equipments Ltd. is a Public Limited Listed company incorporated on 14/03/1960 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L29120TZ1960PLC000351 and registration number is 000351. Currently Company is involved in the business activities of Manufacture of other pumps, compressors, taps and valves. Company's Total Operating Revenue is Rs. 2080.90 Cr. and Equity Capital is Rs. 31.70 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
CompressorsElgi Industrial Complex III, Trichy Road, Coimbatore Tamil Nadu 641005Contact not found
Management
NamePosition Held
Mr. Jairam VaradarajManaging Director
Mr. Sudarsan VaradarajNon Executive Director
Ms. Aruna ThangarajNon Executive Director
Mr. Srinivasan KrishnamurthiNon Executive Director
Mr. Srinivasan RavindranNon Executive Director
Mr. Suman Kumar DasNon Executive Director

FAQ

What is the intrinsic value of Elgi Equipments Ltd and is it undervalued?

As of 19 April 2026, Elgi Equipments Ltd's intrinsic value is ₹214.04, which is 55.32% lower than the current market price of ₹479.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (20.1 %), book value (₹63.4), dividend yield (0.46 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Elgi Equipments Ltd?

Elgi Equipments Ltd is trading at ₹479.00 as of 19 April 2026, with a FY2026-2027 high of ₹608 and low of ₹390. The stock is currently in the middle of its 52-week range. Market cap stands at ₹15,183 Cr..

How does Elgi Equipments Ltd's P/E ratio compare to its industry?

Elgi Equipments Ltd has a P/E ratio of 36.6, which is below the industry average of 39.00. This is broadly in line with or below the industry average.

Is Elgi Equipments Ltd financially healthy?

Key indicators for Elgi Equipments Ltd: ROCE of 21.9 % indicates efficient capital utilization; ROE of 20.1 % shows strong shareholder returns. Dividend yield is 0.46 %.

Is Elgi Equipments Ltd profitable and how is the profit trend?

Elgi Equipments Ltd reported a net profit of ₹350 Cr in Mar 2025 on revenue of ₹3,510 Cr. Compared to ₹178 Cr in Mar 2022, the net profit shows an improving trend.

Does Elgi Equipments Ltd pay dividends?

Elgi Equipments Ltd has a dividend yield of 0.46 % at the current price of ₹479.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Elgi Equipments Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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