- 16 Aug 2022
- ICICIdirect Research
Elgi Equipment reportd Q1FY23 numbersELGIEQUIP - 474 Change: 2.00 (0.42 %)
News: Consolidated revenue grew by 41.8% YoY to Rs 693.8 crore vs. I-direct estimate of Rs 620 crore. Standalone revenue (domestic & direct exports compressor) grew 37.4% YoY to Rs 414.2 crore (~60% of consolidated topline). Absolute EBITDA grew 143.2% to Rs 78.1 crore YoY(vs. our estimates of Rs 82.5 crore) with EBITDA margins came at 11.3% in Q1FY23 (below our estimates of 13.3%) amid higher commodity prices, operating costs. PAT came in at Rs 48.7 crore, up 305% YoY aided by strong operational performance.
View: Revenue grew led by better demand in domestic market and robust exports despite challenges. The automotive (ATS) segment revenue grew 80% to Rs 48.3 crore, YoY. Witnessing by domestic markets continued improvement in performance. ATS business registered strong growth and expected to further improve gradually in the long run.