Schedule a Call Back
Elgi Equipments announces PAT for first quarter, FY24 at Rs 60.5 crore
Industry News- Aug 16,23
Consolidated sales for the first quarter was Rs 724 crore as against Rs 694 crore in the corresponding quarter in 2022-23.
Elgi Equipments, manufacturer of Air Compressors, announced the results for the first quarter ended June 30, 2023. Consolidated PAT for the quarter was Rs 60.5 crore compared to Rs 48.7 crore in the same period in 2022-23. Consolidated sales for the first quarter was Rs 724 crore as against Rs 694 crore in the corresponding quarter in 2022-23.
The standalone PAT for the first quarter was Rs 97.1 crore compared to Rs 44.6 crore in the same period in 2022-23.
The compressor business in the domestic market met the targeted numbers. Business growth in Europe and Brazil were commensurate with the budget. Sales realisations were affected in USA due to temporary disruption caused by the ongoing ERP implementation. Business performance in Middle East and Africa, Australia and South-East Asian Countries were satisfactory.
The automotive business achieved the targets.
Outlook for Q2, FY 2023-24
The ongoing ERP implementation in the US has stabilised and is expected to be normal by the second quarter and sales is expected to bounce back to normal levels.
Elgi Equipments
Air Compressors
Q1 2023 results
consolidated PAT
sales
domestic market
Europe
Brazil
USA
ERP implementation
business growth
automotive business
Related Stories
Electrical & Electronics
Where Global Wire and Tube Innovation Comes Together
The world’s leading wire and tube trade fairs return to Düsseldorf, uniting global innovators to showcase AI-driven manufacturing, advanced materials and solutions shaping the future of industria..
Read moreAuto & Auto Components
India’s Two-Wheeler Industry Rebounds in December; FY2026 Growth Seen at 6–9%
India’s two-wheeler market rebounded strongly in December 2025, with ICRA projecting 6–9 per cent domestic volume growth in FY2026, supported by policy measures, exports and improving demand con..
Read morePolicy Regulation
India–EU FTA sealed, offers preferential EU access to over 99% of Indian exports
The agreement is expected to be particularly transformative for labour-intensive sectors and MSMEs, with positive spillovers for employment generation among women, artisans, youth and professionals.
Read moreRelated Products
Reverse Air Bag House
AIR CONDITIONING & REFRIGERATION EQUIPMENT
ABR Enviro Systems offers a wide range of reverse air bag house.
High Quality Air Knife System
AIR CONDITIONING & REFRIGERATION EQUIPMENT
Superchillers offers high quality air knife system. Read more
Compact Cylinders -Vadvu Series
AIR CONDITIONING & REFRIGERATION EQUIPMENT
Vijay Air Control offers a wide range of compact cylinders -Vadvu Series
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
