Elgi Equipments (ELGIEQUIP) Q4 23/24 earnings summary

Executive summary

• Consolidated revenue from operations reached ₹32,178 million in FY24, up 6% year-over-year, with EBITDA growing 12% and net profit at ₹3,119 million, reflecting strong growth in India but offset by challenges in North America.

• The company maintained market share in core segments and expanded in oil free, construction, mining, and railways, while launching new products and digital initiatives.

• Strategic priorities include achieving FY25-26 targets: revenue of ₹37,500 million, EBITDA margin of 16%, and ROCE of 30%.

Financial highlights

• Revenue from operations: ₹32,178 million (FY24) vs ₹30,407 million (FY23), a 6% increase year-over-year.

• Net profit: ₹3,119 million (FY24) vs ₹3,708 million (FY23), impacted by exceptional items and higher tax expense.

• EBITDA: ₹5,411 million (FY24) vs ₹5,000 million (FY23).

• Basic EPS: ₹9.86 (FY24) vs ₹11.72 (FY23).

• Dividend per share: ₹2.00 (proposed for FY24), unchanged from previous year.

• Cash flow from operations: ₹2,877 million (FY24) vs ₹1,659 million (FY23).

Outlook and guidance

• FY25-26 targets: revenue of ₹37,500 million, EBITDA margin of 16%, and ROCE of 30%.

• Strong growth expected in India and Middle East; North America expected to recover with new leadership and operational improvements.