External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>Elgi Equipments (Elgi) manufactures wide range of air compressors (~90% of revenue) and automotive equipment (~10%).</li><li>Elgi is the second largest player in the Indian air compressor market (~22% market share) and among the top eight players globally</li><li>Target Price and Valuation: We value Elgi at Rs 410 i.e. 50x P/E on FY24E EPS</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Elgi Equipments (Elgi) manufactures wide range of air compressors (~90% of revenue) and automotive equipment (~10%).Elgi is the second largest player in the Indian air compressor market (~22% market share) and among the top eight players globallyTarget Price and Valuation: We value Elgi at Rs 410 i.e. 50x P/E on FY24E EPSContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Elgi Equipments: Decent Numbers Amid Challenges

<ul><li>Elgi Equipments (Elgi) manufactures a wide range of air compressors (~90% of revenue) and automotive equipment (~10%)</li><li>Elgi is the second largest player in the Indian air compressor market (~22% market share) and is among the top eight players globally</li><li>Considering strong growth outlook, better margins, we maintain BUY rating. We value Elgi at Rs 260.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Elgi Equipments (Elgi) manufactures a wide range of air compressors (~90% of revenue) and automotive equipment (~10%)Elgi is the second largest player in the Indian air compressor market (~22% market share) and is among the top eight players globallyConsidering strong growth outlook, better margins, we maintain BUY rating. We value Elgi at Rs 260.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Elgi Equipments: Healthy Growth, Margins Impacted Amid Challenges

India

Elgi Equipments Limited manufactures reciprocating and screw type air compressors, diesel engines. generators and pumps, garage equipment, auto products and heat pressure cleaners.  Elgi markets a range of wheel balancers, oil suction units, AC recovery plants, mobile service units, and pasteurizer and bottle washers.  The Company operates in India and markets its products globally.

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Elgi Equipments (ELEQ IN)

Elgi Equipments: Decent Numbers Amid Challenges

Elgi Equipments (Elgi) manufactures wide range of air compressors (~90% of revenue) and automotive equipment (~10%). Elgi is the second largest...

ICICI Securities Limited

Elgi Equipments: Healthy Growth, Margins Impacted Amid Challenges

Elgi Equipments (Elgi) manufactures a wide range of air compressors (~90% of revenue) and automotive equipment (~10%). Elgi is the second largest...

ICICI Securities Limited

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