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Elgi Equipments Ltd. — Interim / Quarterly Report 2019
Nov 3, 2018
60896_rns_2018-11-03_a7bad120-442c-473e-bb1b-3298917e60f0.pdf
Interim / Quarterly Report
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BOMBAY STOCK EXCHANGE LIMITED NATIONAL STOCK EXCHANGE OF PI-IlROZE JEEJEEBHOY TOWERS INDIA LIMITED DALAL STREET "EXCHANGE PLAZA" MUMBAI - 400001 BANDRA KURLA COMPLEX BANDRA (E), MUMBAI - 400051 Scrip Code: 522074 Scrip Code: ELGIEQUIP E:SEC: 1002 DATE: 02/11/2018
Dear Sirs
Sub: Intimation of the outcome of the Board Meeting held on 2 [nd ] November, 2018 and Disclosure under SEBI (Listing Obligatio� & Disclosure Requirements) Regulation, 2015.
We refer to our Letter dated 16/10/2018, intimating you of the convening of the meeting of the Board of Directors of our Company. In this regard, we wish to inform that the Board of Directors of our Company met today and approved the following;
Unaudited Financial Result for the quarter ended 30/09/2018:
The Unaudited Financial Results for the quarter ended 30/09/2018 in the format prescribed under Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015 and pursuant to SEBI Circular No. CIR/CFD/FAC/62/2016 dated 05th July, 2016. In this connection, we enclose the following for the quarter ended 30/09/2018
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a) Unaudited Standalone Financial Results
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b) Unaudited Consolidated Financial Results
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c) Unaudited Consolidated Segment Report
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d) Limited Review Report
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e) Statement of Assets and Liabilities
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f) Press Release being made in this connection.
u Pursuant to Reglation 47 of the Listing Regulations and above mentioned SEBI Circular, we would be publishing and extract of the consolidated financial results in the prescribed format in English and Tamil newspapers within the stipulated time. The detailed standalone financial results and consolidated financial results of the Company would be available on the website of the Company www.elg.com as well on the website of Stock Exchanges.
Kindly take the above information on record.
Thanking you,
Yours faithfully For MENTS LIMITED m: Encl: As Above. ��� VAIS��M COMP ANY SECRET ARY
ELGI EQUIPMENTS LIMITED
Trichy Rood, Singonollur, Coimbatore· 6til00S, Tamllnodu, Indio T ; +91422 2589 555, W :www.elgl.com, Toll· free No : 1800·Ll25·35tlt!, CIN : L291WTZ1960PLC000351
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Statement of Standalone l)naudited Rcslllts for the quarter and ha]f.yeru· ended September 30, :w18
| s. P�ttlculars No. 1 Icome (a) Revenue frnm operatinns (,�r�r note :1 & 4) Ro,•c11ue frur operations cxd11tling <•xclse dut Exri,e tloty (b) Other inrm� 'fotal income 2 Expenses (o) C,,�t of nmle1·ials con�umerl (b) Pt1>'<,h1i,c.' of sluck-in-trade (c) Clt�oges in i11,1lllories offinishrd goods, stocl-iu-uade "nd work-ln-pt-agr. �9 (d) F.�d,e duty expen e (c) t;:niplvyee he,1efts expense (I) Finunee c:<>Sl.3 [gl Depreciation and amori�ation ""JJ"IISe (h) Othrr rip•n�•·� (refer nule 6) Total cxpcn.•e 3 P1·oft b<frc cxccptonaJ iteu1s and tax (1 - z) 4 i.,.1,11onal items (rerer note 7) 5 Proft before li\X (3 + 4) 6 Tax expense: C11rrent tax D�fmd t;1� 7 Net Pl'oft fr the pcdod (5•6) 8 Olhrr comp1•.l,on,ivo Income, net ofincomo ti 1. Items that will not oo reclassifed to pro/it or Ins$ 8. Hems that 1vill be reclassified to proft or loss 'l'ot;11 othcr comprchcnsivc income, t1et of i.uconu!. tax 9 Total comprehon.ivc income for the 11erlod (7+8) 10Paid-up �quity share c1pital (\'"�" ••l11e Re. 1/- each) u Earings per share (of Re, J /- cnch) (nut an1111sllsed): (a) Basic (bl Diluled I Reserve, excluiing Rcvaluntinn re<erve |
/Rs,In Millions, ex | /Rs,In Millions, ex | /Rs,In Millions, ex | /Rs,In Millions, ex | ceDl uer �t1uitv �hare daln) | ceDl uer �t1uitv �hare daln) | ceDl uer �t1uitv �hare daln) | |
|---|---|---|---|---|---|---|---|---|
| Quarter ended September 30, June 30, 20il SeJ)temher 30, :w18 :017 (U,,r,udit�d) (U1marllt,•d) (Unimdited) 2,823 89 �.69,13 2.33..98 - . - 2,823.89 2,609.13 �.3�5.98 45,36 104.84 30 60 a,869.i5 2,713.97 1,366,58 1,215,26 1,314-77 1,085,31 3(>3,93 2(9.04 297,51 6�.03 (69.08) (-fl,06) - . - 381,65 392.09 318,91 7,20 4.86 �.73 86.30 83.26 92.47 f08.86 410,50 368.2:1 2,6:5.13 �.405-44 2,133.u 2..02 308.53 293,47 - . 244.02 308.53 233,47 81 81 IJ.11 79,79 (10-48) (A,!7) (2u.8u) J72.69 :u6.29 174,48 (7.03) (ll,7) (0.37) . - (7.03) (11.77) (0,37) 165.66 204.52 174.11 15(,34 1�8.34 158 3<1 1,09 1.37 1,10 1,09 1.37 1,10 |
1n,1r.vear ended Year ended September 30, September 30, March 31, 2018 2018 :017 (Un:,u.lited) (In:111dlled) (Audited) 5,433.02 4,540 P4 10,237,6l - 14:5.02 145.02 5"133,0l 4,685.06 10,38�.64 150.20 n6,54 171.85 5,583.2: 4,801.60 10.554,49 2.530,03 2,29(40 5,024,26 (32.97 r01,3' 98,1.67 (7.05) (JlA.79) c25.s�l . 145.02 145,oa 73.74 665.50 1,382.01 12,06 5.83 1/\,59 169 56 180.17 364,90 919.36 715.6:1 1,558.92 5,030-67 4,321.14 9,4.�1.02 $51,SS 480,46 1,103.47 - (17,44) (27-44) 55,,55 453.02 1,076.03 182.92 15�.29 3,17.70 (19.35) (31'.90) (40.41) 388.98 339,63 768.74 (JR,IO) (13,17) 3 ns . - (18,80) (13.17) 3.08 370.18 326.46 771.81 158.34 158.34 158 34 2,46 2.14 4.86 �-46 2.14 4,86 5,841.18 |
Year ended March 31, 2018 (Audited) 10,237,6l 145.02 10,38�.64 171.85 10.554,49 5,024,26 98,1.67 c25.s�l 145,oa 1,382.01 1/\,59 364,90 1,558.92 9,4.�1.02 |
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| 4,321.14 480,46 (17,44) |
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| 453.02 | ||||||||
| 15�.29 (31'.90) 339,63 |
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(13,17) - (13.17) 326.46 |
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| 370.18 158.34 2,46 �-46 |
Por ;uul on behalf of Ute- Boal'd of Directors
PIHre: Colu,batare Date: Novl.'mber 02,2018
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ELGI EQUIPMENTS LIMITED
Trlchy Rood, slngonollur, Coimbatore • 61!1005, Tomllnodu, India T: +91422 '.2589 555, W :www.elgl.com, Toll· tree No: 1800•1f25-3544, CIN: L29120TZ1960PLC000351
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The above atandalone financial results were tevl1:wed by the Audit Committee and approved by the fl,,ard of Dfrectors of Elgi Equipments Limilc1l ("lh., Cmnp.ny") at th<>ir meeting h�ld �n Nuvcmber ::?, 2018. The slatutnry 011clltt11·$ oflhe Com1,a11y have carried out a limit•d review of the.�• finalidal results, Thi, ,tn1err1e1u h:,� been pN<parod in accnrdmwe with the Cmnpanles (Indian Accounlinp, Standards) 1�111-,. 2015 (Ind AS) prc,crihcd under Scetinn 133 of the Companies.AN, �013 and nth�r roeognisNl aecnunling pr.,"ll""" and pulkles to tho extent applicable. The Govcrl111\e11t of lndia introduced the Good$ and Service Tax (CST) with effoct from July 1, l1017. i\ccC1rdin5ly, in c111t1plilli.1ce with Indian AccC111111ing St,mdard (Ind AS) u5- 'Rcv1•1111c from Contracts with Customers'/ Tndi;,n AcctilJ11li1tg Stm1dard (Ind AS) 18•'Rcvcnuc',R"vunnc frum opel'ations for thehnlf•yearcnd�d Seplcmher 30, 2018 and quarl�rs ended Septe.mh�r 30, 2018, June 30, 2018 and Septo:,111her 30, 2017 are presented net of GST. R�vet1L1c from operations for the half•yeur l'ild�d S•11tcmber 30, 2017 and the year r.11,led March 31, w18 l11cludes excise duty upto June 30, 2017. The Company has adopted Ind ASus"Revenue from Contracts with Customers" with effect from Apr.ii 1, 2018, The cffocl of i1'111fll1(111 oflnd AS 115 is not material on the ft11ancial results. The business actMtie$ reOeeted lflihe above financiel results comprise of mm111focl11rh1g MUI sale of compressors. Accordingly, there is no 01lu,r l'Cl'Ot1able segment as per Ind AS 108 Op�rilllng Scg111e111�. Other expenses for the quarter ended Septombor 30, :;io18 and l,(llf-y1:ar euded September 3012018 includes impairn1ent ofim·ost1nentmade by the company in its "•ltolly 01"11cd �11bsltlaty Elgl Equipments (Zhejiang) I,itnit�,;I amo,mllng lo IU. 35.62 million. Exeeptic111nl h•ni of R.s. 27.44 milllo11 for thohalf•ycarc11d S..pt�mher 30, 2017 and year ended March 31, 2018 pertains lQ �xpe11s� unde.r the Company's Volunt�ry Rot·iromcnl !::clteme(VR.9). M ,,t July 31, 2018 the Company tl1roughitswholly owned suh�iiU�ry Industrial Air Comprnssots Pty Ltd, h11�1n,li� h�• ac,tulred 100% stake in F.R. Pulrord & Snn Pty Limited nlQng with its wholly o,,11cd subsiith the Stock cxebange oa Au311.'fl 01, 2018. Prcvio11s pcrio(l / year figure.• have been regrouped/ reclnmficd to make them tom11•l'llhle with those of currentperiod. |
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For and on hehalf of the Board ofDircctoJ's
Place: Coi111batore Date: November 02,2018
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ELGI EQUIPMENTS LIMITED
Trichy Road, Singanallur, Coimbatore - 641005, Tamilnadu, India
T: +91422 2589 555, W :www.elgi.com, Toll· tree No: 1800-425-3544, ClN: L29120TZ1960PLC000351
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UnaudiLedStoiidalone BalaneeSheeL as atSepLember 30, 2oi8
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UnaudiLedStoiidalone BalaneeSheeL as atSepLember 30, 2oi8 |
(llIn Mllllu11s) | ||||
| Partculars ASSETS Non-cunent assets Property, plant and equipment O,plrnl work•in•progrcs$ It1Vt$lll1flll prpe1·Lies Other int�ngihle assets 1ntangible assets under development Fit1,LhC.ial uSscls (i) fnvestnuts (ii) Loons (Iii) Other financial ;.sset, C11rrent t;1x as.•i'ls (Net) Other non-current assets Totalnon-currentassets Cuent Assets Tnvt:n turics Finauci.11 assct (i) Trade receivables (ii) Cash aud cash equivalents (iii) fank bRlRnccs other �hRil(ii)ahove (iv) LoRni (v) Other fnanci�l assets Other currenta5�ets Totlcul'rentassets Total as.et EQUlTY AND LIABILJTIES EQU Equit share c,1pltal Other equity Total eauity LIABILITIES Non-curreot Habite.s Financialliabilities (i)Otl,er fnancial liabilities Provi,ions .efetrec tax liabilities (Net) Gove1·11111ent gmnts Total non-cw·rent llahllltlcs Current lubilitc� Fin1ncial liabillties (i) Borrowiags (ii)Trade payables (a) Total outstanding dues of ricro enterprise and small enterprises (b) Tola! outstanding dues of creditors other thau miero enterpriscs and small enterprise� (iii) Other fnaucial liabilities Provisions Govtrment grants Other current liabilities Tota current llahllitles Total liabilites T!ltal eauitv IUld liablltles �se chereAcco Place: CoimhMore Date: November 02,2018 #�\�\I_AAC•6001�i_ �� � . �� t�< �'N0111s1(oo�( ( ' C ai |
September 30, 2oi8 (Unaudiled) 2,075.28 63.09 56,53 46.65 S,75 1,640.36 53.85 45,40 45.15 100.80 4,132.86 1,169.83 2,602.10 202.18 374-53 16(.?7 36.96 370,17 4,922,f4 9�055.40 158.45 5,994,29 6 152.74 3.60 37,69 35.13 28.38 104,80 1,022.46 83,12 1,249.50 178.65 129.43 8.00 126.70 2,797.86 2,902.66 9 0!!,40 For and 011 behnlf oft |
Marc l1 2018 (Audied) 2,162.11 5.95 56,53 45.57 9.35 1,559.23 54.76 44.00 13,61 59,37 |
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| 4 010.48 1,185.52 2,534.24 246.25 365.18 151,24 44,94 339,86 4,867.23 8,877,71 158-45 s,841.18 5,999.63 3,60 33.87 54,48 31.52 |
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| 123.47 | |||||
| 853,11 157.50 1,249.84 270.52 106.43 8.26 108,95 |
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| 2.754.61 2,878.08 8 877,71 |
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| - 0d of Direclor . � .Jairam adara Managn irector |
ELGI EQUIPMENTS LIMITED
Trlchy Rood, Slnganallur, Coimbatore - 641005, Tomllnodu, Indio
T : +91422 2589 555, W :www.elgi.com, Toll • free No : 1800·425·3SLLJJ., Cl N : L29120TZ1960PLC000351
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Statement ofCQnsoUdated Unaudited Results for the quarter und half•ye_ar ended Septe111he1· 30, 2018
| s. No. I 2 3 4 Pa1'ticulars Income (n) Rc,,•1111efn1111 oricratinns (refer note 3 & 4.) Rcven11e from operali1•11s cxcl11ding t.xd�� d11ly rxd�11 rluty (h) Other llku111c TotaJ income Expe_11RlQ (3) Co.<t of m�t<·riHls rnnsumed {b) Pm eh;ises oUtoel{-in-tdc (c� Cl1R11ges ln lnve11torie� of finished goods, .tock-in-tratle and wurk-ln-pn,,-n:ss (d) Exd$e dtily expense (e) Erplc,yce hencfts cxpen•e (f Finanee costs (g) D1prccialion and amortisation expense (h)Othc1•expenses Total expenses Proft befrec;eeptlonalItems and ta (1•2) Exc�,pllo11[,J lt,,ms frcfor note 6) |
SepL,mbcr 30, 2018 (Unaudited) 4,518 ()7 - 4,518.()7 26.62 ,f .Ji.11,6<) 1,717.67 719.64 53.00 . 831.37 ;3,44 l:!4.5' 76;,37 4,232.08 312.61 l1i.mrter ended June 30, Seplemhel 30, 2())8 201' (Unm1di1erl) (IJ11a11<led) ,1,13.. 1.59 3,7�8.58 . - 4,l3-l,S9 3,728.58 22.75 '0,8� " Vi7,;4 S,7,Q,A' 1,777.82 ,,519,54 639.86 615.31 (14,pl (137,76) - . 783.13 676.42 19.53 13.28 105,05 u2.44 68,1.12 537,48 3,865.32 3,406.78 292.02 352.65 - ~~.~~ (R, in Million, ex,·ent $h,1r nnd ner emiitv share data' Hulf-ear ended Vear ertied September 30, September 301 March 31, 2018 2018 2017 (Unaudited) (Una11dited) (At1dited) 8,652.66 7,276,88 16,05:.1 - 160,1, 1(0.2� 8,652.66 7,446.13 16,2�2.39 40.'17 .\8' 122,66 8.702.03 7,505.68 t6.•H<.Ofi 3,495,49 3,095.79 7,04-,52 1,359,50 1,19q.37 �/.�9.n5 (91.19) (234.46) (224,80) . 169.25 169.25 1,614.50 1,362.59 2,812.64 42,97 26.67 59.60 229.64 218.89 4,16.94 1,446,49 1,087.86 2,430.46 8,097.40 6,920.96 14,9&7.66 604.63 584.72 1,377-39 - (27,44) (27.q4) |
SepL,mbcr 30, 2018 (Unaudited) 4,518 ()7 - 4,518.()7 26.62 ,f .Ji.11,6<) 1,717.67 719.64 53.00 . 831.37 ;3,44 l:!4.5' 76;,37 4,232.08 312.61 l1i.mrter ended June 30, Seplemhel 30, 2())8 201' (Unm1di1erl) (IJ11a11<led) ,1,13.. 1.59 3,7�8.58 . - 4,l3-l,S9 3,728.58 22.75 '0,8� " Vi7,;4 S,7,Q,A' 1,777.82 ,,519,54 639.86 615.31 (14,pl (137,76) - . 783.13 676.42 19.53 13.28 105,05 u2.44 68,1.12 537,48 3,865.32 3,406.78 292.02 352.65 - ~~.~~ (R, in Million, ex,·ent $h,1r nnd ner emiitv share data' Hulf-ear ended Vear ertied September 30, September 301 March 31, 2018 2018 2017 (Unaudited) (Una11dited) (At1dited) 8,652.66 7,276,88 16,05:.1 - 160,1, 1(0.2� 8,652.66 7,446.13 16,2�2.39 40.'17 .\8' 122,66 8.702.03 7,505.68 t6.•H<.Ofi 3,495,49 3,095.79 7,04-,52 1,359,50 1,19q.37 �/.�9.n5 (91.19) (234.46) (224,80) . 169.25 169.25 1,614.50 1,362.59 2,812.64 42,97 26.67 59.60 229.64 218.89 4,16.94 1,446,49 1,087.86 2,430.46 8,097.40 6,920.96 14,9&7.66 604.63 584.72 1,377-39 - (27,44) (27.q4) |
SepL,mbcr 30, 2018 (Unaudited) 4,518 ()7 - 4,518.()7 26.62 ,f .Ji.11,6<) 1,717.67 719.64 53.00 . 831.37 ;3,44 l:!4.5' 76;,37 4,232.08 312.61 l1i.mrter ended June 30, Seplemhel 30, 2())8 201' (Unm1di1erl) (IJ11a11<led) ,1,13.. 1.59 3,7�8.58 . - 4,l3-l,S9 3,728.58 22.75 '0,8� " Vi7,;4 S,7,Q,A' 1,777.82 ,,519,54 639.86 615.31 (14,pl (137,76) - . 783.13 676.42 19.53 13.28 105,05 u2.44 68,1.12 537,48 3,865.32 3,406.78 292.02 352.65 - ~~.~~ (R, in Million, ex,·ent $h,1r nnd ner emiitv share data' Hulf-ear ended Vear ertied September 30, September 301 March 31, 2018 2018 2017 (Unaudited) (Una11dited) (At1dited) 8,652.66 7,276,88 16,05:.1 - 160,1, 1(0.2� 8,652.66 7,446.13 16,2�2.39 40.'17 .\8' 122,66 8.702.03 7,505.68 t6.•H<.Ofi 3,495,49 3,095.79 7,04-,52 1,359,50 1,19q.37 �/.�9.n5 (91.19) (234.46) (224,80) . 169.25 169.25 1,614.50 1,362.59 2,812.64 42,97 26.67 59.60 229.64 218.89 4,16.94 1,446,49 1,087.86 2,430.46 8,097.40 6,920.96 14,9&7.66 604.63 584.72 1,377-39 - (27,44) (27.q4) |
SepL,mbcr 30, 2018 (Unaudited) 4,518 ()7 - 4,518.()7 26.62 ,f .Ji.11,6<) 1,717.67 719.64 53.00 . 831.37 ;3,44 l:!4.5' 76;,37 4,232.08 312.61 l1i.mrter ended June 30, Seplemhel 30, 2())8 201' (Unm1di1erl) (IJ11a11<led) ,1,13.. 1.59 3,7�8.58 . - 4,l3-l,S9 3,728.58 22.75 '0,8� " Vi7,;4 S,7,Q,A' 1,777.82 ,,519,54 639.86 615.31 (14,pl (137,76) - . 783.13 676.42 19.53 13.28 105,05 u2.44 68,1.12 537,48 3,865.32 3,406.78 292.02 352.65 - ~~.~~ (R, in Million, ex,·ent $h,1r nnd ner emiitv share data' Hulf-ear ended Vear ertied September 30, September 301 March 31, 2018 2018 2017 (Unaudited) (Una11dited) (At1dited) 8,652.66 7,276,88 16,05:.1 - 160,1, 1(0.2� 8,652.66 7,446.13 16,2�2.39 40.'17 .\8' 122,66 8.702.03 7,505.68 t6.•H<.Ofi 3,495,49 3,095.79 7,04-,52 1,359,50 1,19q.37 �/.�9.n5 (91.19) (234.46) (224,80) . 169.25 169.25 1,614.50 1,362.59 2,812.64 42,97 26.67 59.60 229.64 218.89 4,16.94 1,446,49 1,087.86 2,430.46 8,097.40 6,920.96 14,9&7.66 604.63 584.72 1,377-39 - (27,44) (27.q4) |
SepL,mbcr 30, 2018 (Unaudited) 4,518 ()7 - 4,518.()7 26.62 ,f .Ji.11,6<) 1,717.67 719.64 53.00 . 831.37 ;3,44 l:!4.5' 76;,37 4,232.08 312.61 l1i.mrter ended June 30, Seplemhel 30, 2())8 201' (Unm1di1erl) (IJ11a11<led) ,1,13.. 1.59 3,7�8.58 . - 4,l3-l,S9 3,728.58 22.75 '0,8� " Vi7,;4 S,7,Q,A' 1,777.82 ,,519,54 639.86 615.31 (14,pl (137,76) - . 783.13 676.42 19.53 13.28 105,05 u2.44 68,1.12 537,48 3,865.32 3,406.78 292.02 352.65 - ~~.~~ (R, in Million, ex,·ent $h,1r nnd ner emiitv share data' Hulf-ear ended Vear ertied September 30, September 301 March 31, 2018 2018 2017 (Unaudited) (Una11dited) (At1dited) 8,652.66 7,276,88 16,05:.1 - 160,1, 1(0.2� 8,652.66 7,446.13 16,2�2.39 40.'17 .\8' 122,66 8.702.03 7,505.68 t6.•H<.Ofi 3,495,49 3,095.79 7,04-,52 1,359,50 1,19q.37 �/.�9.n5 (91.19) (234.46) (224,80) . 169.25 169.25 1,614.50 1,362.59 2,812.64 42,97 26.67 59.60 229.64 218.89 4,16.94 1,446,49 1,087.86 2,430.46 8,097.40 6,920.96 14,9&7.66 604.63 584.72 1,377-39 - (27,44) (27.q4) |
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| 5 6 7 Pro1 before tux (3+4) Ta,' exp ·nsc: Curre11l Ln.x Def Prred tax Net lruft for the period befre sh a.re of profit of Iiolntventures fl• 6) |
312.61 95.99 (20.28) 236.90 18.02 204,02 (6.50) 08.6o 92.10 292.02 352.65 119.11 113,73 (8.(,6) (19.68) 181,57 258.60 �.48 6.�� 185.05 264.o' (ll,26) (0.37) �8.�2 :R,6o 47,06 28.23 604.63 557.28 1,349.95 215,10 201.:6 423.79 (28.94) (33,65) (10.69) 418,47 389.67 936.85 21.50 11.26 15.06 ,�o.g7 400,0; <;2.81 (17.76) (13.17) q.80 1�6.02 :l.so r',d1 \39,16 25.33 58,21 |
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| 8 ( 10 Sh.,ire of Proft of ioint venture Net Proft fr the ncriod (7 + 8) Other comprehensive income, net of Income hue A. Jtc1ns that will not be reclassifer to proft or loss B. Items tlrl 1vll1 b. reol;1,fed to prrif or loss ToLnl oLher comprehensive incQme, net of inro111e Lux |
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| 11 l2 13 1,1 Total comprehen�lve (f.l\c for the period (9 +10) Net l'rollt uttributfll1le to: - Owners •Non-controllinginlere�18 Total comprehensive Income atlrlbutnhle to: -Owners •Non-controllinginterests Pai,h1p equity sl,ae ci,pital (Fucc value Re, 1/- each) Eanlings per shure (of Re. 1 /• each) (not annualiser): (a) Basic (b) Dih1ted R,·scl,:S excluding Revaluation resere |
347.02 |
232,11 293.16 185.05 264,98 . - 232.11 293,16 - - 158.34 1.8.34 1.17 1.67 1.17 1.67 |
293.16 |
579,13 '39-97 . 579.13 - 158.34 2.78 2.78 |
426.26 ,,011.02 400.93 952.81 - . 4�£i.26 1,ou.o� - . 158,34 1.8.34 2.53 6.02 2.53 6.02 6,731.03 |
| 254.92 - 347,02- 158,34 1.61 1.61 |
Pinc�: Coimbatore
Date: Nuvm11h1:ro2, 2018
==> picture [128 x 79] intentionally omitted <==
rd of Plrecllll'S
ELGI EQUIPMENTS LIMITED
Trlchy Road, Singanallur, Coimbatore - 61.noos, Tamilnadu, Indio T; +91 Ll22 2589 555, W '[email protected]:om, Toll· free No: 1800·425·3544, CIN '. L29120TZ1960PLC000351
™ 1::LLI
| 1 | The above COllllOlid11IP.d financial results wern revic1ved by Lhe Audit Committee and approved by the D<>nrd of Directors of Elgi Equipments Li111ited ("the Company'') at Htcir meeting held on Novcnther 02, 2018, The statutory auditors of Lhe Comp3ny have carried out a limited reviuw o( these consolidated finand,,1 r�.s11ll,;, |
|---|---|
| 2 | '['his statement h�s been prepared in accordance with tl:te Companies (lndlan Accounting Stanclards) Rules, 2015 (llld AS) pl'escrilwd under Section 133 of the C-0mpanies Act, |
| 2013 and other recogni�ed occolmtins practices and policies totheextent applicable. | |
| 3 | The Govcrnm.,nl oflndia introduced the Goods �nd S�rvfoe Tax (GS11 with effect from J11ly 1, 20J7. Accordingly, in compliance with Jndfan Accounting Stamfard (Ind/\S)u5- 'Revenue frmn Co11lracts with CtJ6tomers'/ lndlan Accounting Standard ("Ind AS) 18-'Revenue', Revenue from operationsfot·the half-yenr ended St,ptember 30, WJ8 and q1rnrters anded S0ple111ber 30, w18, J\mP. 30, 2018 a.nd September 30, :io17 are pr,:-.se.nted net of GS'r. Revenue from operntinns (pr the half-year ended Seplemh�r 30, 2017 and theyc�r endPd March 31, 2018 lhdiJ(]es ex�is� dnty upto June 30, 2017. |
| 4 | The Group h:,s ijd11pled Ind AS u5 ''Revenue {mm Cn11lracls with Customers" with effect frtml April 1, 2018. The effect of adoption of Ind ilS ll5 is not material on the flno,td!ll |
| results. | |
| 5 | The Group has organised the bu�iru.·.s..� into two c�tr,gories viz., Air Cnmprcssors and i\utomotive Equipments. This rcportflig �n1nj1lii:.� with the lnd AS segment rc1)rirting |
| principles. Refer Annexuro I ottuch,:rl het\:With. | |
| 6 | Excepliunal 11cm of R.!l 27,111 million for U1c half-yc;1r P.ndedSeptember 30, 2017 andyear emlcd March31, 2018pertains to expense u1,c1<,r the Company's Voluntai:y Rell r�111cnt s,·heme (YRS). |
| 7 | The above statements lnclucJes Lhe results of the following entitles; |
| Subsidiaries | |
| 1.Adiso11s Precision Instn1ments l',,1snufacturi1tg Compaily Limited 2, ATS Elgi Limited 3,Elgi Compre.,sora Trading (Shanghai) Co. Limited |
|
| 4, Elm E<:1u!p111,:tilJ1 (Zhejianp;) Limited 5, J;:lp;i C1Ilf FZE (. Elp;i Compressors Do Brosi! lmp.E.Exp I.TOA. 1- Eli;! Equipments Austi-alla Pty L,imiled 8. Ellti Compressors Europe SJtL |
|
| 9.Rotsir SPA | |
| 10.El11i Compressors USA Inc. 11.Patton'sInc. |
|
| 1�. Pattqn's Me,llw,1 LI.C. 13.P'I' Elp;i Equipments Indonesia l<I, Er110 Dcsi11n PriVllt,: Lfn,!ted 15, Industrial Air ('.,:mJpres�rs Ply Ltd l6, F.R, Pulford&Son Pty Limited 17. Advanced Air Co1,11pressors Pty Ltd Joi.nl vcrtl'\U't:S J. F.lRi S�11er (',0mpre..�sor6 Limited |
|
| 2.Industrial Air Solutions LLP | |
| Joint operations 1. L.G. Balukrishnan & Bros. |
|
| 2. EM Services | |
| 8 | As at July 31, 2018, Elgi Equipments Limited, through Its \•holly ownecl suhsidia.ry Industrial Air Compt'cs ot'S Pty Ltd, Australia lias �;;quired 100% stake in F.R, Pulford & Son Pty Limiled along with its wholly owried subsidiary Advanced Air Compressors Ply Lid. Disclosures in this rc,;ticct hove been fileti with the Stock exchange onAugust 01, 2018, |
| 9 | Prcvi(iu� prriod / year figures have been regrouped/ reclassified to 111:cke the111 �11mpsrahle with those of current period. |
For and on behalf of the Board of lJlrc<:tors
PlAce: Coimbatore Dale: November 02, 2018
==> picture [129 x 80] intentionally omitted <==
==> picture [104 x 47] intentionally omitted <==
ELGI EQUIPMENTS LIMITED
Trichy Rood, slnganollur, Colmbotor@ • 64-1005, Tamilnodu, Indio T; +914-22 2589 555, W :www.elgi.com. Toll - free No: 1800·425·354-4-, CIN: L29l.!OTZ1960PLC000351
-· �- �l1u3iM,n,6Yidated Balance Sheet :'15 at Scpkmbcr 3[0, 2018 ]
| ASSETS Non-currentllSsCts Propcrl'y, pl1,nt aud el[llipnwnt CRpit�l wurk•in•pwg1·c,� Invc.stment proptrlics Coo«lwill Other intangible assets f'a.rtculars lntsngihle asset$ under development Investments accounted fr using the eqully meLbod Fin1nda. assets (I) ltiveslmenls (il) Loaus (Iii) OLhcr fuRncial assets Deferredtax assets(Net) CurrPnt isx nssr.t� (Net) Other non-current assets Total non-current asset Current As.et I nvenl(lri< Finanuial a�ets (I) Trade receivables (ii) C3sh and cash eq11iv� lents (iii) Uank b�lancc.� uthcr than (li) above (iv) Loans (v) Other f11nncial as.sets Other current assets Total current ai ct Tota.I a::�cts EQlJIT AND LIABILITIES EQUl' Equity share capllal Other equity Toto] equity LIA.BlLITIES Non-current liabilities Financial liabilities (i) Long term borrowings (ii) Other fnancial liabilities Provisi1ns Dderred tax llabll!lies (Net) Covemment grants septe111her 30, 2018 mna11Jii.•rl 3,040.99 66.70 166.86 1,611.50 420.03 5.75 08.26 74.38 55.50 68.48 (,7.90 65.8i 100.81 3,569.60 708.58 385.57 70,36 20.59 461.10 1s8.45 7,081.16 1,039.50 3.60 74,55 132.75 40,76 |
March 31, 2018 {Audlk-dl 2,986.64 11.23 166.9i 1,250.58 53.27 9,3,5 59.16 91,38 56.98 53,17 61.05 24.64 59.37 4,883.73 3,434,2/ 653.74 435.19 58.76 34,55 406.94 7,760.23 6o2.84 3.60 62.52 68,56 44.90 |
||
| Totalnon•currcntllhllitics |
|||
| CurentliabiJities Financial liahilities (I) Borrowings (ii) Trade payables (iii) Other fnancial liablllllcs Pruvisious Cunenl lax liabiliti� (Net) GovemmPnt grants Other �urrent liabilitie Totacurrentliabilites Tota. Habi.lite.� Tota.equity ldliabilites |
1,824.,00 2,186.12 973.57 198.57 59,59 10,10 207,70 6,750.81 13,990.42 |
),625.05 2,133.93 8(1,04 163.1� 22.90 10.10 155.85 4,972.06 5,754.48 |
==> picture [92 x 26] intentionally omitted <==
| AJm,,xure I - Sce:ment Rcvcuue Re,mlts and Ca pi Lal Emplovcd (luirter tmJed Hair yoar cnd¢d slNo, Poic,,1:\rS S�plember 30, Juuc :Jo, ScplembH 30, Sc11lemhcr 90, 20lSSeptem.bcr 30, ao17 2018 2ui8 ao1, (I Jna111i\l;dl (Un;111Jit,d) (lTt\i ldl\tll I lln,,uditedl (tt,,1r1ltrt1) 1 Scgmcnl levci1UC a) All· Cr,mprcsors 4,lll0,51 3,7311.51 3,250.38 7,74J.02 6,596.63 b) At1h1111,,tive iq11lµ11h.◄1lls soa.12 �04,63 478,28 912,75 !49.A8 4,518.63 4,135.14 3,728.66 8,653,77 7,446,51 Less: L11lcr �cgll1l'11l r�ve1111e Q .. ,6 0.55 0.08 Lil o.�s Inc,une fl'om operations ',!l8.07 ,.j�A,�n 3,-28.iS 8 6,2,66 7 . .A( 13 £ Segment Results (Prnf before tax) a) Air <'omprt,Or$ 273,69 279.85 305,39 553-54 509.88 h) Aulomotive equipments :18.92 12.17 47,26 /l.09 ""·"0 -12.6, 202.02 Q�2.65 604,6: 557.28 3 SegmentA�el a) Air Comrr�s.,ul'$ 11,89;,JO 11,489.44 11,0-10,2: 11,891,10 11,0,10.22 b) Aut,1111otive equipm•nls 1,098.�2 j(101,61 I 061.dB 1,098,32 J 061.<8 •� n((,'2 12,'22,06 12 101,?0 i-,nno,"2 12,101,70 4 Segment Liahilitic-s a) Air Compre;ors 6,390.23 5,087.1: 5,445.69 6,390.23 5,445.69 b) ;\lit11111)Hve equipments 160.r8 �2�-�7 OAQ,?l s60,5R ;'AQ,?J 6 ' 0.81 <,dtz.An 5,795.40 6 . �0.81 , . ,,�.10 5 CitpltaJ Employed [Srgment A ets• Scgm�nt Liabilities] a) Alr Corprc"Ol'S 6,501.87 6,40�-3� 5,594.53 6,50J.87 5,594,53 h) Anlomotive equipments 737.74 707.2/ 711.77 n7,74 111.11 "-2"".61 "-ton,1 6,:06:r 't.:t<<,61 6.<06.:0 |
AJm,,xure I - Sce:ment Rcvcuue Re,mlts and Ca pi Lal Emplovcd (luirter tmJed Hair yoar cnd¢d slNo, Poic,,1:\rS S�plember 30, Juuc :Jo, ScplembH 30, Sc11lemhcr 90, 20lSSeptem.bcr 30, ao17 2018 2ui8 ao1, (I Jna111i\l;dl (Un;111Jit,d) (lTt\i ldl\tll I lln,,uditedl (tt,,1r1ltrt1) 1 Scgmcnl levci1UC a) All· Cr,mprcsors 4,lll0,51 3,7311.51 3,250.38 7,74J.02 6,596.63 b) At1h1111,,tive iq11lµ11h.◄1lls soa.12 �04,63 478,28 912,75 !49.A8 4,518.63 4,135.14 3,728.66 8,653,77 7,446,51 Less: L11lcr �cgll1l'11l r�ve1111e Q .. ,6 0.55 0.08 Lil o.�s Inc,une fl'om operations ',!l8.07 ,.j�A,�n 3,-28.iS 8 6,2,66 7 . .A( 13 £ Segment Results (Prnf before tax) a) Air <'omprt,Or$ 273,69 279.85 305,39 553-54 509.88 h) Aulomotive equipments :18.92 12.17 47,26 /l.09 ""·"0 -12.6, 202.02 Q�2.65 604,6: 557.28 3 SegmentA�el a) Air Comrr�s.,ul'$ 11,89;,JO 11,489.44 11,0-10,2: 11,891,10 11,0,10.22 b) Aut,1111otive equipm•nls 1,098.�2 j(101,61 I 061.dB 1,098,32 J 061.<8 •� n((,'2 12,'22,06 12 101,?0 i-,nno,"2 12,101,70 4 Segment Liahilitic-s a) Air Compre;ors 6,390.23 5,087.1: 5,445.69 6,390.23 5,445.69 b) ;\lit11111)Hve equipments 160.r8 �2�-�7 OAQ,?l s60,5R ;'AQ,?J 6 ' 0.81 <,dtz.An 5,795.40 6 . �0.81 , . ,,�.10 5 CitpltaJ Employed [Srgment A ets• Scgm�nt Liabilities] a) Alr Corprc"Ol'S 6,501.87 6,40�-3� 5,594.53 6,50J.87 5,594,53 h) Anlomotive equipments 737.74 707.2/ 711.77 n7,74 111.11 "-2"".61 "-ton,1 6,:06:r 't.:t<<,61 6.<06.:0 |
(Rs.inMIiiion•** Yercndcd lfarch 31, 2018 IAudit,dl 14,357-ll 1,S(q.10 16,�:4◄21 L82 16 222,<' 1,1116.00 1:1:1-9 1,'"n,ns** 11,491.no 1,1.51,:16 |
(Rs.inMIiiion•** Yercndcd lfarch 31, 2018 IAudit,dl 14,357-ll 1,S(q.10 16,�:4◄21 L82 16 222,<' 1,1116.00 1:1:1-9 1,'"n,ns** 11,491.no 1,1.51,:16 |
|||
|---|---|---|---|---|---|---|
| Hair yoar cnd¢d Sc11lemhcr 90, 20lSSeptem.bcr 30, ao17 I lln,,uditedl (tt,,1r1ltrt1) 7,74J.02 6,596.63 912,75 !49.A8 8,653,77 7,446,51 Lil o.�s 8 6,2,66 7 . .A( 13 553-54 509.88 /l.09 ""·"0 604,6: 557.28 11,891,10 11,0,10.22 1,098,32 J 061.<8 i-,nno,"2 12,101,70 6,390.23 5,445.69 s60,5R ;'AQ,?J |
||||||
| Audit,dl 14,357-ll 1,S(q.10 16,�:4◄21 L82 |
||||||
| 16 222,<' 1,1116.00 1:1:1-9 |
||||||
| 604,6: 11,891,10 1,098,32 |
1,'"n,ns 11,491.no 1,1.51,:16 |
|||||
| i-,nno,"2 6,390.23 s60,5R |
i: (a-,96 5.360.25 |
|||||
| 3'<l.2' -�•""•,d8 6,132.35 ?r',]3 688,Y,8 |
||||||
| 6 . �0.81 6,50J.87 n7,74 't.:t<<,61 |
, . ,,�.10 5,594,53 _111.11 6.<06.:0 |
Pl3ce: Coimbatore 01,te: Nov 02, 2018
Fur ,rnc;J on beh�lf of the Board ofDirectprs � :J, '0' � MRllU :1ha Dir�clot ft
==> picture [128 x 78] intentionally omitted <==
ELGI EQUIPMENTS LIMITED
Trlchy Rood, Sing□n□llur, Coimbatore - 61.noos, T□milnodu, Jndlo T: +91422 2589 555, W :www.elgi.com, Toll - free No: 1800·425·3544, CIN : L29120TZ1960PLC00035l
Price Waterhouse Chartered Accountants LLP
The Board of Directors
ELGI Equipments Limited Elgi Industrial Complex III, Trichy road, Singanallur Coimbatore - 641 005
-
We have reviewed the unaudJted standalone financiaJ tesults of Elgi Equipments Limited (the "Company") [in which are included the results of two Jointly controlled entities (representing joint operations)] for the quarter ended September 30, 2018 which are included in the accompanying 'Statement of Standalone Unaudited Results for the quarter and half-year ended September 30, 2018' and the Unaudited Standalone Balance Sheet as at September 30, 2018 (together referred to as the "Statement''). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations, 2015"), which has been illitialled by us for identification purposes. The Statement is the responsibility of the Comptmy's management and has been approved by the Boai·d of Dfrectors. Oux responsibility is Lo issue a report on the Statement based on our review.
-
We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, '1Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement.
-
A revi.ew is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less ;:issutance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
-
We did not review the financial results of two jointly controlled entities (representing joint operations) considered in the preparation of the Statement and which constitute the Company's share of total assets of Rs. 125-40 million and net assets of Rs. 124.66 million as at September 30, 2018, total revenue of Rs. NIL for the quaiter ended September 30, 2018 and total comprehensive income (comprising of profit and other comprehensive income) of Rs. 0.13 millioi1 for the quatter ended September 30, 2018. These financial results have been furnished to us by the Management, and our conclusion on the Statement insofar as it relates to the amounts and disclosures included in respect of these jointly controlled entities (representing joint operations) is based solely on such financial results. Our conclusion is not qualified m respect of this matter.
-
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicahle Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting pl'actices and policies, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations; 2015 including the manner in which i't is to be disclosed, or that it contains any material misstatement.
For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N5oool6 Cha1tered Accountants
Coimbatore November 02, 2018
�'-C �,��, Baskar Pannerselvru:n Pa1tner Membership Number: 213126
Price Waterhouse Chartered Accountants LLP, 8th Floor, Prestige Palladium Bayan, 129 -140, G1·em11s Road Che1mai - 600 006, India
T: +91 (44) 4228 5000, F: +91 (44) 4228 5100
Re!Jl•lered omce a,�d Head office: Suohtla Bh•wnn, 11A Vi•hou Dlgarnbar M••O. New Oell\i 110 002
Price W•terhous8 (a Partneri;l]lp !'lrm) convertod Into Price W�t�rhol"8 Chartemd Acw1mt�ni, LLP (� Lln1l1...-J Li;blllty P,rtnori;hlp wllh LLP \d�ntlly no; LLPIN MC-5001) with �fleet trorn July 25. 2014. Posl Its converalnn to Price W�lerhouse Cha�ered Acc.ountanta LLP, Its iCAI raalalrAtran n,trnber Is 012754NIN50001G (ICAi reglstrAtiOn 11\Jrr\bcr bero,c co11vcr�l011 Wa!s 012754N)
Price Waterhouse Chartered Accountants LLP
The Board of Directors
ELGI Equipments Limited Elgi Industrial Complex ITT, Trichy road, Singanallur Coimbatore - 6,q.i 005
1. We have reviewed the wiaudited consolidated financial results of Elgi Equipments Limited (the "Company"), its subsidiaries and jointly controlled entities (hereinafter refened to as the "Group") (refer Note 7 to the Statement) for the quarter ended September 30, 2018 which are included in the accompanying 'Statement of Consolidated Unaudited Results for the quarter and half-year ended September 30, 2018' and the Unaudited Consolidated Balance Sheet as at September 30, :2018 (together referred to as the "Statement''). The Statement has been prepaTed by the Company's Management pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes. The Statement is the responsibility of the Company's Management and has been approved by its Board of Directors. Our responsibility is to issue a report on the Statement based on our review.
-
We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Enthy" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement.
-
A review is limited primarily to inquiries of group personnel and analytical procedures applied to group's financial data and thus prnvides less assurance than an audit. We have not peiformed an audit and, accordingly, we do not express an audit opinion.
-
We did not review the financial results of eight subsidiaries (Including five step down subsidiaries) considered in the preparation of the Statement and which, constitute total assets of Rs. 5,778.15 million and net assets of Rs. 1,575.49 mi ion as at September 30, 2018, total revenue of Rs. 1,325.59 million and total comprehensive income (comprising of profit and other comprehensive income) of Rs 79.14 million for the quarter ended September 30, 2018. These financial results have been reviewed by another firm of chartered accountants whose reports have been furnished to us, and OUT conclusion on the Statement to the extent they have been derived from such financial results is based solely on the report of such other firm of chartered accountants. Our conclusion is not qualified in respect of this matter.
-
We did not review the financial results of Ci) eight subsidiaries and tw'o jointly controlled entities (1•epresentingjoint operations) considered in the preparation of the Statement and which, including the Company's share of joint operations, constitute total assets of Rs. 1,192.98 million and net assets of Rs. 393.30 million as at September 30, 2018, total revenue of Rs. 251.33 million and total comprehensive income (comprising of profit and other comprehensive income) of Rs. 31.68 million for the quarter then ended; and (ii) two jointly controlled entities (representing joint ventures) which constitute Group's share of total comprehensive income (comprising of profit and other comprehensive income) of Rs. 17-41 million for the quarter ended September 3(), 2018. These financial results have been furnished to us by the Management, and our conclusion on the Statement insofar as it relates to the amounts and disclosmes included in respect of these subsidiaries and jointly contIOlled entities, is based solely on such financial results. Our conclusion is not quali[f] ied in respect of this matter.
==> picture [129 x 78] intentionally omitted <==
Prite Waterhouse Chal'tered Accountants LLP, 8th F/001·, Prestige Palladium Baycm, 129 -140, Greams Road Chennai - 600 006, India
T: +91 (44) 4228 5000, F: +91 (44) 4228 52
Reg;sIe,et1 oflice and Head 011'1,:;e, SucMsla Bhawan, 11A Vishnu Dlaambar Marg, Now Dolhi 110 002
Price w�1amou•� (a P;utnnr.,hip Firm) co"v�t\ed Into I', ice WaleM1ou9e Chartered Atcountanls LLP (a Limited l.i;il)llliy P�rln,,,.hip with LLP iu&t1lily "o' LLPIN AAC-5001) wllh effect rrom July 25. 2014 F'o•I It,; convorsl�n to 'Price Walorhou,e Ch&f1e,�1 Acrouttta11lo LLI', 119 ICAI reglolnat;on numh•r Is 0 127['4NIN�OO0 18 (ICAI r�gislmlion ,1umb�r Derore conversion was 012754N)
Price Waterhouse Chartered Accountants LLP
- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicri ble Accounting Standards prescribed under Section 133 of the Companies Act, 20l3 and other recognised accounting practices and policies, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
For Price Waterhouse Chartered Accow1.tants LLP Firm Registration Number: 012754N/N500016 Ch arteted Acco un tan ts
- . � �� B��rselvain Partner Membership Number: 213126
Coimbatore November 02, 2018
-- -- ™ t:LLI
Press Release-02/11/2018
Elgi Equipments Limited -11 Quarter 2018-19 Results
Elgi Equipments Ltd, manufacturer of air compressors, announced today the results for the second quarter ended 30[th ] September, 2018, posting a PAT for the group for the quarter ended 30[th ] September, 2018 at Rs. 25.5 Crores as compared to Rs. 26.5 Crores during the corresponding period in 2017-2018. Sales for the group was Rs. 452 Crores for the quarter ended 30[th ] September, 2018 compared to Rs. 373 Crores in the corresponding quarter in 2017-2018.
- During the quarter, one time expenses and provisions have been considered in the accounts.
The Company's compressor business in the domestic market grew by 22% over the corresponding quarter in 2017-18. Domestic sales performance has been steady on the back of sustained demand for compressors from most industrial segments. The international business' performance was satisfactory. Revenues from international operations were augmented by the newly acquired entity, F.R. Pulford & Son Pty Ltd Australia.
The Company's automotive business grew by 4% in line with domestic auto industry growth, compared to the corresponding quarter in 2017-18. On a YTD basis, the division has registered a 9% growth over H1 of 2017-18.
Outlook for the Ill Quarter 2018-19
Indications from our markets are that demand for compressors will continue to improve in the coming months and the company is confident of capitalizing on the opportunities.
Margins may be under pressure in the short term due to rising exchange rates, impacting commodity prices.
==> picture [181 x 64] intentionally omitted <==
ELGI EQUIPMENTS LIMITED
Trichy Road, Singanallur, Coimbator@ • 641005, Tamilnodu, India T : ·1•91422 2589 555, w :www.elgi.com, Toll· 1ree No: 1800•425·3544, CIN : L29120TZ1960PLC000351