The shares of ELGI Equipment surged more than 3% in the early trading hours of Thursday to reach a new 52-week high of Rs 491. The stock has surged by more than 12 percent in the last five days. In the span of a month, the stock has zoomed by more than 32 percent.
A year ago the shares were trading at Rs 196 a piece on NSE. From there it has spiked up to the current levels, representing a multibagger return of more than 149 per cent. So far this year the stock has delivered a return of more than 60 percent.
In Q1FY23, the company earned a total revenue of Rs 693 crores up 42 percent from Rs 489 crores which it made in the same quarter a year ago. On a sequential basis, their revenue dropped from Rs 727 Crores.
In the quarter under review, their net profit surged by 320 percent to Rs 46 crore up from Rs 11 crores in Q1FY22. The quarter before i.e, Q4FY22, their total net profit stood at Rs 72 crores.
The company has a market capitalization of Rs 15,534 crores and a dividend yield of 0.23%. The promoters of the company hold a 31.32 percent stake with zero shares pledged.
If an investor had invested Rs 1 lakh a year ago in the stock their investment would be worth Rs 2.5 lakhs today.
ELGI Equipment Limited is in the business of manufacturing and supplying Air Compressors and Automotive Equipment. The products manufactured by the company has wide applications in the area of mining, pharmaceuticals, power, oil, chemicals, textiles, printing, paper, transport, electronics, telecommunications, defence, medical, railways, and others. It is also into providing related after-sales services.
Written by – Anoushka Roy
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