Elgi Equipments posts all-round performance in Q4 FY21

Elgi Equipments posts all-round performance in Q4 FY21

Elgi Equipments Ltd reported an annual profit after tax (PAT) of Rs 1.02 billion and sales of Rs 19.24 billion for the year ended March 31, 2021 and expects to perform reasonably well in 2021-22.

Elgi Equipments
Ltd, a global manufacturer of air compressors, announced its quarterly and
annual results for the financial year ended March 31, 2021. The company
reported an annual consolidated PAT of Rs 1.02 billion and sales of Rs 19.24
billion for the year ended March 31, 2021. The standalone PAT for the year was
Rs 1.05 billion compared to Rs 1 billion in 2019-20.

In terms of Q4
results, the company reported a rise in PAT which stood at Rs 433.6 million, an
increase in sales which was at Rs 6.1 billion and a standalone PAT at Rs 488.5 million.

The Board has
recommended a dividend of Re 0.80 per share (80%) for the year.

The compressor business performance in the domestic
market was commendable in the fourth quarter while performance on an annualized
basis saw marginal growth over last year. The business has performed well in
all of the global markets it is present in. Sales of the automotive business
witnessed improvement compared to last year.

In terms of the
outlook for 2021-22, the company expects to perform reasonably well given that
the effects and longevity of the pandemic are still unknown and will have a
bearing on the business.

Source – Elgi Equipments Press Release

Image Source: Elgi Equipments Press Release 

Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/elgi-equipments-announces-q3-fy20-21-results

https://indiantextilejournal.com/interviews/elgi-equipments-registers-rs-33-2-cr-pat-for-1hfy2020-

https://indiantextilejournal.com/latest-textile-industry-news/elgi-s-us-subsidiary-opens-office-in-la

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