Coimbatore-based Elgi Equipments Ltd, a leading manufacturer of air compressors, announced the results for the financial year 2017-18 posting a PAT of Rs 76.9 crore, compared to Rs 68.4 crore in 2016-17. The consolidated PAT for the group for the financial year 2017-18 was Rs 95.3 crore as compared to Rs 74 crore during the corresponding year 2016-17. Consolidated sales for the group was Rs 1,622 crore compared to Rs 1,438 crore in the previous year.
The board of directors in the meeting has recommended a dividend of 120 per cent for the financial year 2017-18. The growth in domestic was satisfactory. Overall, company’s business grew across all markets barring a few Asian countries. Performance in North America and Italy was commendable.
Growth in passenger vehicle sales in India had a significant influence in the revenues of the automotive business which recorded a growth of 17 per cent over the previous year, by growing its market share with an array of existing and new products.