Elgi Equipment record positive trends in its quarterly report

By OEM Update Editorial June 5, 2021 3:13 pm IST

Elgi Equipments Ltd, manufacturer of Air Compressors, recently announced the results for the fourth quarter and financial year ended 31st March 2021.

Consolidated PAT for the quarter was ₹ 43.36 Crore compared to ₹1.05 Crore in the same period in 2019-2020. Consolidated PAT for the financial year was ₹102.49 Crore compared to ₹ 42.57 Crore in 2019-20.

Consolidated sales for the fourth quarter were ₹ 610 Crore as against ₹ 455 Crore in the corresponding quarter in 2019-2020. Consolidated sales for the financial year 2020-21 was ₹ 1924 Crores as against ₹1829 Crores in 2019-20.

The standalone PAT for the fourth quarter was ₹ 48.85 Crore compared to ₹ 42.01 Crore in the same period in 2019-20. The standalone PAT for the year was ₹ 105.09 Crore compared to ₹ 100.42 Crore in 2019-20

The Board has recommended a dividend of ₹ 0.80 per share (80 percent) for the year 2020-21, subject to approval of the shareholders.

The compressor business performance in the domestic market was commendable in the fourth quarter while performance on an annualised basis saw marginal growth over last year. The business has performed well in all the global markets it is present in.

In a very challenging environment, sales of the automotive business witnessed improvement over the same period of last year.

For more info, visit: https://www.elgi.com/in/