Elgi Equipments Limited – Results for the Financial Year 2018-19
Elgi Equipments Ltd, manufacturer of air compressors, announced today the results for the financial year 2018-19 posting a PAT of Rs. 103.06 Crores, compared to Rs. 95.30 Crores in 2017-18 on a consolidated basis.
Consolidated sales for the group was Rs. 1,863 Crores compared to Rs. 1,622 Crores in the previous year.
The standalone PAT for the financial year ended 31/03/2019 was Rs. 84.7 Crores as compared to Rs. 76.9 Crores during the corresponding year ended 31/03/2018.
The Board of Directors in their meeting has recommended a dividend of 130% for the financial year 2018-19.
The financial year 2018-19 witnessed healthy growth in diverse product segments and markets globally. The company grew 15% on a consolidated basis.
The growth in automotive equipment business was modest, shadowing the growth trends of the auto industry.
Outlook for 2019-20 by Dr. Jairam Varadaraj, Managing Director, Elgi Equipments:
The company is ably positioned to realize opportunities in key markets. The realization would depend on the growth of key economies.
For the automotive equipment business, the company is exploring new avenues of growth through collaborations and technology transfers for select automotive products.