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ICICI Direct Report
Elgi Equipments Ltd. reported a strong Q2 FY21 with consolidated revenue up 8% YoY to Rs 480.3 crore versus our estimate of Rs 398.2 crore.
Standalone revenue (domestic and direct exports compressor) de-grew 3% YoY to Rs 263.2 crore (approximately 55% of consolidated topline) while international compressor business posted robust growth of 43.8% YoY (contributing approximately 38% of consolidated topline), the automotive segment revenue declined 23.8% YoY (approximately 7% of firm's topline).
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