Elgi Equipments rallies 12% on strong Q2 numbers

New Delhi: Shares of Elgi Equipments soared 12 per cent during Tuesday's intra-day session after the company pulled off a strong show in the July-September period.

The industrial machinery company reported a 55 per cent jump in net profit to Rs 51.62 crore in the September 2021 quarter, as against a net profit of Rs 33.25 crore during the same quarter last year.

Following the results, shares of the company advanced 12 per cent to Rs 228 on Tuesday but gave up some gains to trade at Rs 225 at 10.40 am. The scrip had settled at Rs 204 on Monday.


BSE barometer and benchmark Sensex was trading at 60,455.37, 90.24 points or 0.15 per cent lower, at the time of writing this report.

The company reported a 36 per cent rise in the sales to Rs 652.04 crore in the quarter ended September 2021 as against Rs 480.27 crore during the previous year quarter, ended September 2020.

Elgi Equipments' EPS increased to Rs 1.80 in September 2021 from Rs 0.94 in September 2020. EBITDA jumped 70 per cent to stand at Rs 84.18 crore in July-September 2021, which was above Rs 49.42 crore reported in the same period the previous year.

Shares of Elgi Equipments have rallied 90 per cent in the last one year. Meanwhile, on a year-to-date basis, the scrip has jumped about 50 per cent.