Elgi Equipments Achieves Excellent Quality Grade Amid Strong Financial Performance
Elgi Equipments, a prominent player in the Compressors, Pumps & Diesel Engines industry, has recently undergone an adjustment in its evaluation. The company's quality grade has transitioned from good to excellent, reflecting a notable enhancement in its underlying financial metrics. Over the past five years, Elgi Equipments has demonstrated robust sales growth of 16.89% and an impressive EBIT growth of 47.75%. The company's ability to manage debt is highlighted by a Debt to EBITDA ratio of 1.45 and a Net Debt to Equity ratio of 0.12, indicating a strong capacity to service its obligations. Additionally, the average Return on Capital Employed (ROCE) stands at 22.61%, while the Return on Equity (ROE) averages 20.46%, showcasing effective utilization of equity.
The company has also maintained a healthy dividend payout ratio of 19.91% and has a solid institutional holding of 32.36%. With a market capitalization of Rs 16,345 crore, Elgi Equipments constitutes a significant portion of its sector, accounting for 20.11% of the industry.
This revision in its score reflects the company's strong long-term fundamentals and consistent performance in recent quarters.
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