Multibagger alert: This compressor manufacturing company has given over 400% returns in the last two years!

Multibagger alert: This compressor manufacturing company has given over 400% returns in the last two years!

by 5paisa Research Team Last Updated: Dec 14, 2022 - 04:31 pm 29.6k Views
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The company has a strong foothold in India and a presence in more than 100 countries across the globe.

Elgi Equipments Ltd, an S&P BSE 500 company, has given its investors exceptional returns over the last two years. The company has turned into a multibagger after the stock price gradually increased from Rs 64.3 on 5 May 2020 to Rs 338.70 on 2 May 2022, an appreciation of 426%.

Talking about the company’s business, Elgi Equipments is engaged in the manufacturing of air compressors and automobile service station equipment. The company’s products have applications in various industries such as mining, pharmaceuticals, shipbuilding, power, oil, etc.

Set up in 1960, the company started as an air compressor and garage equipment manufacturing company. Today, it has a portfolio of over 400 products and accessories. The company has state-of-the-art manufacturing facilities in India, Italy and the USA.

Apart from this, the company has an excellent network of more than 100 dealers spread across India. It has its presence in over 100 countries across the globe.

In the recent quarter Q3FY22, the company’s net revenue increased by 26.48% YoY to Rs 408.55 crore. Similarly, the bottom line increased by 36.79% YoY to Rs 45.78 crore. During the quarter, air compressors segment generated nearly 92% of the revenue, whereas the remaining 8% was derived from the automotive equipment business.

The company is currently trading at a TTM PE of 60.45x, against the industry PE of 41.51x. In FY21, the company delivered an ROE & ROCE of 13.78% and 16.78%, respectively.

At 12.48 pm, the shares of Elgi Equipments Ltd were trading at Rs 338.10, a decrease of 0.18% from the previous closing price of Rs 338.70 on BSE. The stock has a 52-week high & low of Rs 422.70 and Rs 191.60, respectively on BSE.

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