Elgi Equipments Q4 Review - Strong All-Round Performance Continues: ICICI Direct
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ICICI Direct Report
Elgi Equipments Ltd. reported a strong Q4 FY21 with consolidated revenue up 34.3% YoY to Rs 610.6 crore versus our estimate of Rs 548.8 crore.
Standalone revenue (domestic and direct exports compressor) grew by a robust 57.5% YoY to Rs 392.0 crore (~64% of consolidated topline) amid low base led by better demand in domestic market and robust exports while the international compressor business came in almost flat at Rs 167.5 crore, YoY (contributing ~27% of consolidated topline), the automotive segment revenue rebounded with Rs 34.4% growth to Rs 50.5 crore, YoY (~9% of revenue).
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