Elgi Equipments Ltd. — Board/Management Information 2026

May 27, 2026

ELGI

May 27, 2026

National Stock Exchange of India Limited (NSE)
Exchange Plaza,
C-1, Block G Bandra Kurla Complex
Bandra (E), Mumbai - 400 051
NSE Symbol: ELGIEQUIP

BSE Limited (BSE)
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort,
Mumbai - 400 001
BSE Scrip Code: 522074

Dear Sir/Madam,

Subject: Outcome of the Meeting of the Board of Directors pursuant to SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 ("SEBI Master Circular"), and other applicable provisions of the Listing Regulations, we hereby wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e. May 27, 2026, inter-alia, considered and approved/ recommended the following:

1. Fixing of the date for the 66th Annual General Meeting ("AGM") of the Company, to be held on August 14, 2026, through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM"), in compliance with the applicable regulatory provisions and the circulars issued by the Ministry of Corporate Affairs ("MCA"), and Securities and Exchange Board of India ("SEBI").

2. In accordance with the Dividend Distribution Policy of the Company, recommended a final dividend of ₹ 2.70/- per equity share of Re. 1/- each for the financial year ended March 31, 2026, for the approval of members in the forthcoming AGM. Further, in line with Regulation 42 of Listing Regulations, the Record Date has been fixed as Friday, July 17, 2026, for the purpose of determining entitlement of the Members for payment of Dividend. The same would be paid within 30 days from the date of declaration at the ensuing AGM.

3. The Board on recommendation of the Nomination & Remuneration Committee has approved the appointment of Ms. Padmaja Alaganandan (DIN:02867269) as an Additional Director designated as a Non-Executive Independent Director of the Company for a first term of 5 year effective from May 27, 2026 subject to approval of the shareholders of the Company. The details as required under the Listing Regulations read with SEBI Master Circular are enclosed in Annexure A.

Further, in accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, it is confirmed that she is not debarred from holding office of Director by virtue of any order passed by SEBI or any other authority.

1. The Board on recommendation of the Nomination & Remuneration Committee has approved the appointment of Mr. Varun Jay Varadaraj (DIN:07972025) as an Additional Director designated as a Non-Executive Non-Independent Director of the Company subject to approval of the shareholders of the Company. The details as required under the Listing Regulations read with SEBI Master Circular are enclosed in Annexure A.

Further, in accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, it is confirmed that he is not debarred from holding office of Director by virtue of any order passed by SEBI or any other authority.

1. The Board on recommendation of the Nomination & Remuneration Committee has approved the reappointment of Mr. Anvar Jay Varadaraj (DIN:07273942) as the Executive Director of the Company for a period of 5 years with effect from August 2, 2026 to August 1, 2031 subject to approval of the shareholders of the Company. The details as required under the Listing Regulations read with SEBI Master Circular are enclosed in Annexure A.

ELGI EQUIPMENTS LIMITED

Registered Office: Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91 422 2589 555, E investor@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN: L29120TZ1960PLC000351

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ELGI

Further, in accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, it is confirmed that he is not debarred from holding office of Director by virtue of any order passed by SEBI or any other authority.

1. Appointment of M/s. STR & Associates, Cost Accountants (Firm Registration No.000029) as the Cost Auditors of the Company for the financial year 2026-27. The details as required under Listing Regulations read with SEBI Master Circular are enclosed in Annexure B.

2. Based on the recommendation of the Audit Committee, the Board of Directors of the Company, has approved its intention to recommend appointment of M/s B S R & Co. LLP, Chartered Accountants (ICAI Firm Registration No. 101248W/W-100022) as Statutory Auditors of Elgi Equipments Limited Company for a term of five (5) years, commencing from conclusion of the 67th Annual General Meeting (AGM) (to be held in the year 2027) until conclusion of the 72nd AGM (to be held in the year 2032), subject to Shareholders' approval and other statutory requirements (including auditor independence requirements for the Company and its related entities) in accordance with the laws and regulations in India and other jurisdictions, as applicable.

Price Waterhouse Chartered Accountants LLP, (ICAI Firm Registration No. 012754N/N500016), the current Statutory Auditors, will continue to undertake the audit of the Company until conclusion of the 67th AGM to be held in the year 2027, in accordance with the requirements of the Companies Act, 2013.

The details as required under the Listing Regulations read with SEBI Master Circular are enclosed in Annexure C.

1. Amendments to the Code of Fair disclosure of UPSI and Conduct ("Code"). The amended Code is also being hosted on the website of the Company at https://www.elgi.com/in/investors/elgi-policies/ >> Code of Fair disclosure of UPSI and Conduct.

Further, the press release with regard to the Audited Standalone and Consolidated Financial Results of the Company is also enclosed with this letter.

The Board meeting commenced at 01:30 PM and concluded at 4:00 PM.

The above intimation is also being hosted on the website of the Company at www.elgi.com.

We request to kindly take the above intimation on records.

Thanking you,

Yours faithfully

FOR ELGI EQUIPMENTS LIMITED

ROHIT
JAGANNA
TH GUPTE

Digitally signed by ROHIT JAGANNATH GUPTE
Date: 2026.05.27 17:18:31 +05'30'

ROHIT GUPTE
COMPANY SECRETARY AND COMPLIANCE OFFICER
MEMBERSHIP NO.: A12422

Encl.: as above

ELGI EQUIPMENTS LIMITED

Registered Office : Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91 422 2589 555, E investor@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN: L29120TZ1960PLC000351

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ELGI

Annexure A

| Sr. No. | Particulars | Details
Ms. Padmaja Alaganandan |
| --- | --- | --- |
| a) | Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise | Appointment |
| b) | Date of appointment / reappointment /cessation (as applicable) & term of appointment/re-appointment | Appointment as an Additional Director designated as a Non-Executive Independent Director of the Company for a first term of 5 year effective from May 27, 2026 subject to approval of the shareholders of the Company. |
| c) | Brief profile (in case of appointment) | Ms. Padmaja has retired from PwC Consulting and has over 30 years of consulting and leadership experience. She has worked across business and people strategy and consulted with clients across industries including Technology, Automotive, Pharma and Consumer Products, Oil & Gas. Her work has ranged across clients in large multi-business conglomerates, the public sector, start-ups and social enterprise as well as the not-for-profit and development sector.

In addition to her consulting experience, Ms. Padmaja has also played the role of Chief People Officer for PwC India and its over 25,000 workforce and been a member of the firm's leadership team in India. She has been part of global teams in the different leadership roles she has played, as well as in her consulting experience working with large multinational organizations.

Ms. Padmaja has worked with clients and boards on talent, leadership and executive remuneration issues. She has led Board Evaluation exercises, engaging with the different board members, and also consulted on CEO and senior executive remuneration as part of compensation governance. Padmaja has spoken on Managing Talent in India at client forums in France, Germany, and Japan, and been a speaker at international conferences including the World at Work Asia Pacific Rewards conference at Singapore. Prior to joining PwC, Padmaja headed Mercer Consulting's Human Capital business in India and was a member of the Asia Pacific Human Capital Leadership team as well as the global Executive Remuneration Board.

Ms. Padmaja has been on the board of Mercer India, as well as of PwC entities in India. She is currently a member on the board of Airtel Payments Bank Limited, Volvo Eicher Commercial Vehicles and Pollinate Energy, a not-for-profit focused on livelihoods and gender equity in urban slums.

Ms. Padmaja graduated from University of Madras and Post Graduation from Indian Institute of Calcutta. |
| d) | Disclosure of relationships between directors (in case of appointment of a director | Ms. Padmaja Alaganandan is not related to any of the Directors of the Company. |

ELGI EQUIPMENTS LIMITED

Registered Office : Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91 422 2589 555, E investor@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN: L29120TZ1960PLC000351

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ELGI

| Sr. No. | Particulars | Details
Mr. Varun Jay Varadaraj |
| --- | --- | --- |
| a) | Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise | Appointment |
| b) | Date of appointment / reappointment /cessation (as applicable) & term of appointment/re-appointment | Appointment as an Additional Director (Category: Non-Executive, Non-Independent) is effective May 27, 2026 and will hold office up to the date of ensuing Annual General Meeting of the Company. |
| c) | Brief profile (in case of appointment) | Mr. Varun Jay Varadaraj is an entrepreneur with a professional background spanning industrial GTM strategy and consumer marketing. He completed his pre-university education at Kodaikanal International School in India and earned a Bachelor’s degree in Finance and Marketing from Purdue University.

Mr. Varun began his career at ELGi, serving in the Audit department before moving into Go-To-Market (GTM) strategy for the Reciprocating Compressor Division. After three years with the company, he earned a Master’s degree from NYU. He subsequently joined KIND as a Senior Marketing Analyst within the innovation department, where he focused on new product introductions and consumer-driven sales initiatives.

Following his interest in the fitness industry, Mr. Varun launched AIRLAB, a boutique studio specializing in altitude training. The business, which has expanded to two locations over the past two years, utilizes ELGi technology from its Australian subsidiary, Pullford, to create simulated altitude environments.

Having grown up in an entrepreneurial family, Varun has had lifelong exposure to the business and compressor industries. He looks forward to bringing his experience in marketing and operations to the ELGi Board to support the company’s CK2 journey. |
| d) | Disclosure of relationships between directors (in case of appointment of a director | Mr. Varun Jay Varadaraj is the son of Mr. Jairam Varadraj, Managing Director of the Company and brother of Mr. Anvar Jay Varadaraj, Executive Director. |

ELGI EQUIPMENTS LIMITED

Registered Office : Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91 422 2589 555, E investor@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN: L29120TZ1960PLC000351

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ELGI

| Sr. No. | Particulars | Details
Mr. Anvar Jay Varadaraj |
| --- | --- | --- |
| a) | Reason for change viz.
appointment, re-appointment, resignation, removal, death or otherwise | Re-appointment |
| b) | Date of appointment / reappointment /cessation (as applicable) & term of appointment/re-appointment | Re-appointment for a term of five (5) consecutive years commencing from August 2 2026, subject to the approval of the shareholders at the ensuing Annual General Meeting. |
| c) | Brief profile (in case of appointment) | Mr. Anvar Jay Varadaraj is the Chief Operating Officer (COO) and Whole-time Director of ELGi Equipments Limited and a member of the ELGi promoter group. As part of ELGi’s leadership team, he plays a key role in advancing the company’s long-term global growth agenda and driving strategic initiatives aligned with ELGi’s vision of becoming one of the world’s top compressed air companies.

Over the past decade, Mr. Anvar has held multiple leadership roles across functions and geographies within ELGi, building a broad perspective across marketing, business operations, strategy, and global growth initiatives. Since joining ELGi in 2015, he has been instrumental in strengthening the organization’s capabilities and supporting the company’s global expansion journey.

He began his ELGi career leading the marketing function in India, where he established scalable processes and capabilities that strengthened the company’s brand and global marketing foundation. He subsequently moved to North America, where he played a pivotal role in building regional capabilities and supporting strategic business priorities. He later transitioned to an executive role on the ELGi Board, partnering closely with leadership teams on transformative initiatives across the organization.

In 2022, Mr. Anvar assumed business leadership responsibilities in North America before returning to India in 2023 as Chief Operating Officer. In his current role, he leads key strategic and operational priorities focused on accelerating growth, enhancing organizational effectiveness, and strengthening ELGi’s position as a globally competitive enterprise.

Mr. Anvar brings a global outlook and a long-term leadership perspective, with a strong focus on building enduring capabilities that support ELGi’s continued growth and global ambitions. |
| d) | Disclosure of relationships between directors (in case of appointment of a director | Mr. Anvar Jay Varadaraj is the son of Mr. Jairam Varadraj, Managing Director of the Company and brother of Mr. Varun Jay Varadaraj, Non-Executive Non-Independent Director. |

ELGI EQUIPMENTS LIMITED

Registered Office : Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91 422 2589 555, E investor@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN: L29120TZ1960PLC000351

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ELGI

Annexure B

| Sr. No. | Particulars | Details
M/s. STR & Associates Cost Accountants |
| --- | --- | --- |
| a) | Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise | Appointment |
| b) | Date of appointment / reappointment / cessation (as applicable) & term of appointment/re-appointment | Appointed on May 27, 2026, for the financial year 2026-2027. |
| c) | Brief profile (in case of appointment) | STR & Associates, an established Firm of Cost and Management Accountants, was founded in 1976 by the late Shri. S.T. Rengarajan. The current partners of the firm are Shri Manivannan R. Rajan, M.Tech. (IIT), MBA, FCMA, CFIRM (UK), MIE, FIV and Sustainability; and Shri T.V. Balakrishnan, B.A. (Hons.), LLB, FCMA, ACIS (UK), MIMA, FICA. They are supported by a team of qualified and experienced Cost & Management Accountants. The firm offers a range of Services in the areas of Cost Audit; Compliance Certification for Cost Records Maintenance; Operational Audit (Technical, Commercial, Cost functions); Management Audit; Advanced areas of Cost Management: Target Costing, Activity Based Costing, Life Cycle Costing, Quality Costing, Environmental Costing, etc.; and Cost Control and Cost Reduction Strategies. |
| d) | Disclosure of relationships between directors (in case of appointment of a director | Not Applicable |

ELGI EQUIPMENTS LIMITED

Registered Office : Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91 422 2589 555, E investor@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN: L29120TZ1960PLC000351

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ELGI

Annexure C

Sr. No	Particulars	Description
1	Reason for change viz. appointment, reappointment, resignation, removal, death or otherwise	Price Waterhouse Chartered Accountants LLP, (ICAI Firm Registration No. 012754N/N500016), the current Statutory Auditor will continue to undertake the audit of the Company until the conclusion of the 67th AGM (to be held in the year 2027), marking the completion of their second consecutive term of five years.

Therefore, the Board has approved the announcement of the Company’s intention to recommend the appointment of M/s B S R & Co. LLP (firm registration no. 101248W/W-100022) as the Statutory Auditors of the Company. |
| 2 | Date of appointment / reappointment / cessation (as applicable) and Term of Appointment /re-appointment | For the first term of five (5) consecutive years commencing from the conclusion of 67th AGM of the Company till the conclusion of 72nd AGM of the Company subject to the approval of the Shareholders of the Company at the 67th AGM to be held in FY 2027-28, subject to fulfilment of all applicable regulatory requirements including auditor independence in accordance with the relevant laws and regulations. |
| 3 | Brief profile (in case of appointment) | B S R & Co. was constituted on 27 March 1990 as a partnership firm and was thereafter converted into limited liability partnership i.e. B S R & Co. LLP, on 14 October 2013.

The registration no. of the firm is 101248W/W-100022. The registered office of the firm is at 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai- 400063.

B S R & Co. LLP is a member entity of B S R & Affiliates, a network registered with the Institute of Chartered Accountants of India. The firm has over 4,000 staff and 170 Partners and has offices across 14 locations and serves as statutory auditor to several companies listed on stock exchanges in India. |
| 4 | Disclosure of relationships between directors (in case of appointment of a Director) | Not Applicable |

ELGI EQUIPMENTS LIMITED

Registered Office : Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91 422 2589 555, E investor@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN: L29120TZ1960PLC000351

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ELGI

Press Release – 27/05/2026

Elgi Equipments Limited – Fourth Quarter & FY 2025-26 results

Elgi Equipments Ltd, manufacturer of air compressors, posted a consolidated sales for the quarter of Rs. 1,113 Crores compared to Rs. 993 Crores in the corresponding quarter in 2024-25, representing a growth of 12%. The Company delivered consolidated sales of Rs. 3,951 Crores for the financial year as against Rs 3,510 Crores in 2024-25, representing a growth of 13%.

Consolidated PAT for the quarter was Rs. 128 Crores for the quarter, compared to Rs. 102 Crores in the same period in 2024-25, representing a growth of 25%. Consolidated PAT for the financial year was Rs. 430 Crores, compared to Rs. 350 Crores in 2024-25.

Standalone sales for the financial year was Rs. 2,343 Crores compared to Rs. 2,081 Crores in 2024-25, representing a growth of 13%. The standalone PAT for the year was Rs. 345 Crores compared to Rs. 350 Crores in 2024-25.

The Company delivered strong double-digit growth across India and American markets. Performance in Europe and Australia remained subdued amid prevailing economic headwinds.

Our automotive business also achieved double digit growth when compared to the same period in 2024-25.

The Board recommended a dividend of Rs. 2.70/- per equity share (270%) for approval of shareholders.

Outlook for the First Quarter :- 2026-27

Notwithstanding the geo-political tensions, the Company maintains a positive outlook for Q1 and remains on track to achieve its budgeted performance. Proactive mitigation measures have been implemented to address rising cost pressures, which are expected to ease as the West Asia situation stabilizes.

For ELGi Equipments Limited

Indranil Sen

Chief Financial Officer

ELGI EQUIPMENTS LIMITED

Registered Office: Elgi Industrial Complex III, Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India

T +91422 2589 555, E enquiry@elgi.com, W www.elgi.com, TOLL-FREE NO: 1800-425-3544 | 1800-203-3544

CIN NO: L2912OTZ1960PLC000351