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Elgi Equipments Ltd.

BSE: 522074 Sector: Engineering
NSE: ELGIEQUIP ISIN Code: INE285A01027
BSE 00:00 | 14 Nov 246.90 0
(0.00%)
OPEN

246.00

HIGH

247.70

LOW

243.10

NSE 11:14 | 15 Nov 244.50 -0.15
(-0.06%)
OPEN

244.00

HIGH

248.45

LOW

243.05

OPEN 246.00
PREVIOUS CLOSE 246.90
VOLUME 486
52-Week high 350.00
52-Week low 225.60
P/E 47.85
Mkt Cap.(Rs cr) 3,913
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 246.00
CLOSE 246.90
VOLUME 486
52-Week high 350.00
52-Week low 225.60
P/E 47.85
Mkt Cap.(Rs cr) 3,913
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Elgi Equipments Ltd. (ELGIEQUIP) - Company History

Incorporated in 1960 as a private limited company, Elgi Equipments was converted into a public limited company in 1975 and came out with a public issue of 75,000 shares. It was promoted by L G Balakrishnan, his brothers and associates. Hailing from the Elgi stable, EEL manufactures reciprocating, borewell and screw compressors. It also makes and sells garage equipment, mobile utility systems, bottling equipment and automobile accessories such as power brakes, pneumatic horns and wipers. It has two manufacturing units at Coimbatore. As part of its modernisation plans, the company invested Rs 40 crores in the upgradation and expansion of the manufacturing facilities, especially of compressors. The company was initially manufacturing garage equipment like low-range reciprocating compressors, car-washing machines and hydraulic lifts, with technical know-how from Pumpen Fabrik Urach, Germany. Later, in technical collaboration with Landwehr, Germany, the company started manufacturing lubricating equipment. During 2003-04, the company included three new products namely, Vayu Series Borewell Compressors, 3.5KVA Genset and Electronic Tyre Inflator. In the year 2004-05, the company commissioned its first Four Centrifugal Compressor and Tank Mounted Screw Compressor. The company has obtained the technology for the manufacture of pasteurising plants from Gobel, Germany; screw compressors from Sullair Corporation, the US; bottle-washing machines from Krones, Germany; and automatic vehicle- washing machines from Ceccato, Italy. To strengthen its technologies, the company has tied up with City University, London, and hired consultants to help improve its products and processes. In 1999-2000, a branch office was established in SriLanka to explore the Sri Lankan market. During 2004-05, the company entered the petrol or kerosine engine business through an association with Robinson of Japan via their associates in Sri Lanka. In Aug. 2000, Elgi Equipments has entered into technical collaborations with Hitachi to produce Oil Free Air Compressors in India. It has also tied up with Samsung Techwin Co Ltd, an affiliate of the Samsung group, to bring to India their centrifugal compressor - Turbo Master. To upgrade automotive equipment and also to manufacture Compressors with higher capacities and pressures the company has launched a joint technology upgradation plan with City University UK. During 2002-03 the total capital expenditure incurred were Rs.78.12 million and the captial expenditure were funded by way of internal accruals. In the year 2004, the company has entered into a Collaborative Venture with JP Sauer & Sohn, Germany to envisage the manufacturing of compressor required for Battle ships. The company made an arrangement with Mahindra & Mahindra for supplying the engines for their gensets in 2004-05. During 2004-05, the plan to merge its wholly owned subsidiary viz Adisons Precision Instruments Manufacturing Ltd with the company is on progress.