Elgi Equipments Ltd. — Interim / Quarterly Report 2020

Aug 2, 2019

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BOMBAY STOCK EXCHANGE LIMITED NATIONAL STOCK EXCHANGE OF INDIA LIMITED PHIROZE JEEJEEBHOY TOWERS "EXCHANGE PLAZA" DALAL STREET BANDRA KURLA COMPLEX MUMBAI - 400001 SANDRA (E) MUMBAI - 400051 Scrip Code: 52207 4 Scrip Code: ELGIEQUIP E:SEC: 1002 DATE: 02/08/2019

Dear Sirs

Sub: Intimation of the outcome of the Board Meeting held on 02nd August, 2019 and Disclosure under SEBI (Listing Obligations & Disclosure Requirements) Regulation; 2015.

We refer to our Letter dated 28/06/2019, 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;

1. Unaudited Financial Result for the quarter ended 30/06/2019:

The Unaudited Financial Results for the quarter ended 30/06/2019 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:

• Standalone Financial Results for the quarter ended 30/06/2019

• b) Consolidated Financial Results for the quarter ended 30/06/2019 Limited Review Report issued by M/s. Price Waterhouse Chartered Accountants LLP, Chartered Accountants, Statutory Auditors on the Standalone and Consolidated Financial Results for the quarter ended 30/06/2019.

• a) c)

• d) Segment Report e) Press Release being made in this connection.

Pursuant to Regulation 47 of the Listing Regulations and above mentioned SEBI Circular, we would be publishing an 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.elgi.com as well on the website of Stock Exchanges.

Kindly take the above information on record.

Thanking you, Yours faithfully For ELGI EQUIPMENTS LIMITED

� VAldHNAVI PM COMPANY SECRETARY

ELGI EQlfi�MEJftf1titEO

Trichy Road, Singanallur, Coimbatore - 641005, Tamilnodu, Indio T: +91 l.l22 2589 555, W :www.elgi,carn, Toll· free No: 1800·425-3S4U, CIN: L29120TZ1960PLC000351

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Statement of Standalone Unaudited Financial Results for the quarter ended June 30, 2019

			(Ra. In Millions, except per	(Ra. In Millions, except per	equty share data)
			Quarter ended		Year ended
s. No.	Particulars	June so, 2019	March 31 1 2019	JWC30, 2018	March 31, 2019
		(Unaudited)	Audited (Refr note s)	(Unaudited)	(Audited)
l	Income
	(a) Revenue fom operations	2,777.10	3,378.86	2,609.13	11,770.79
	(b) Other income	25.86	24.44	103.15	163.11
	Tob income	2,802.96	3,403.30	2,712.28	11,933.90
2	Exenses
	(a) Cost of materials consumed	l,358.29	1,621.88	:,314,77	5,668.96
	(b) Purchases of stock-in-trade	266.27	358.11	269.04	1,218.29
	(c) Changes In inventories offnished goods, stock-in-trade and	(15.23)	38,70	(69.08)	27.84
	work-in-progress
	(d) Employee benefts expense	454.65	398.27	392.09	1,564.34
	{e) Finance costs	8,04	5.76	4.86	23.71
	01) Depreciation and amortisaton expense	86.82	86.30	81.57	338.47
	(g) Other expenses	447.16	514.24	410.50	1,886.29
	Total exenses	2,606.00	3,023.26	2,403.75	10,727.90
3	Proft before exceptiona items and ta (1 • 2)	196.96	380,04	308.53	1,206.00
4	Exceptonal items	-	.	-	.
5	Proft befre ta (3 + 4)	196.96	380.04	308.53	1,206.00
6	Tax expense:
	current ta	62.00	105,35	101.11	378.65
	Defrred ta	(4.30)	6.87	(8.87)	(20.09)
7	Net Proft fr the period(5•6)	139.26	267.82	216.29	847.44
8	Other comprehensive Income, net of Income tax
	A. lters lhatwllnot be reclassifed to proft or loss	(0.04)	0.20	(11.77)	(10.78)
	B. Items that will be reclassifed to proft or loss	.	-	.	-
	Tota_! other comprehensive icome, net of income ta	(0.04)	0.20	(11.77)	(10.78)
9	Total comprehensive icome fr the period (7+8)	139.22	268.02	204.52	836.66
10	Paid-up equit share capital (Face value Re. 1/• each)	158.34	158,34	158.34	158.34
11	Earnings per share (of Re. 1/• each)(not annualised):
	(1) Basic	o.88	1.69	1.37	5.35
	(b)Diluted	o.88	1.69	1,37	**5.35 **
12	Reseres excluding Revaluation reserve				6,460.77

For and on behalf of the Board of Directors

Place: Coimbatore

Date: August 02, 201[9 ]

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Managing Director
�J?iv.�
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ELGI EQUIPMENTS LIMITED

Trich[y ] Road, Sln[g] anallur, Coimb[q] tor[e ] - 64l00S, Tamilncdu, Indio T : +91422 258� 555, W :www.elgi.com, Toll - free No: 1800·425-3544, CIN: L29120TZ1960PLC000351

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1 2 3 4 5 6

The above standalone fnancial results were reviewed by the Audit Committee and approved by the Board of Directors of Elg! Equipments Limited (''the Company") at their meetng held on August 02, 2019. The stattory auditors of the Company hava carried out a limited review of the above financial results fr the quarer ended June 30, 2019. This statement has been prepared in accordance with the Companies Ondia.n Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and olher recognised accounting practices and policies to the extent applicable. The Company has adopted Ind AS 116 "Lases" with effect fom April 112019 using modifed retrospective approach. The adoption of the new standard did not have any m0lerial impact on the profts of the Company. The business activities reflected in the above financial results comprise of manufacturing and sale of compressors. Accordingly, there is no other reportable segment as per Ind AS 108 Operatiug Segments. The fgures fr the quarter ended March 31, 2019 are the balancing fgures between the audited fgures in respect of the full fnancial year ended March 31, 2019 and the published year to date fgures upto te third quarer ended December 31, 2018. Previous period/ year fgures have been regrouped / reclassifed to make them comparable with those of current period.

For and on behitlf of the Board of Directors

Place: Coimbatore Date: August 02, 2019

/j ,fl vi::- Managing Director

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ELGI EQUIPMENTS LIMITED

Trlchy Road, Singanallur, Colmbqtor� • 6lU00S, Tamllnadu, lndlq T : +91422 2589 555, W :www.elgi.com, Toll - free No : 1800·415·3544, CIN : L29120TZ1960PLC000351

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Statement of Consolidated Unaudited Financial Results for the quarter ended June 30, 2019

		(Rs. in Millions, except share and per eouitv sh!ue data)	(Rs. in Millions, except share and per eouitv sh!ue data)	(Rs. in Millions, except share and per eouitv sh!ue data)	(Rs. in Millions, except share and per eouitv sh!ue data)	(Rs. in Millions, except share and per eouitv sh!ue data)
s. No.	Pariculars	.June 30, 2019	Quarter ended March 31, 2019	Jue 30, 2018	Year ended March 31, 2019
		(Unaudited)	Audited (Refr note 6 )	(Unaudited)	(Audited)
1	Income
	(a) RevenUt fom operations (b) Other income	4,666-40 ;6.41	5,280.31 �2.82	4,134.59 20.6(	18,634.69 (6.cc
	Total income	4 702.81	5,313.13	4,155.28	18,7J1.24
2	Expenses
	(a) Cost of materials consumed	2,169.82	2,320.00	1,777.82	7,820.73
	(b) Purchases of stock-in-trade (c) ChangesinInventoriesoffnished goods, stock-in-trade and work-in-progre	751.80 (429.86)	56,.95 92.29	·639.86 (144.19)	2,464.15 26.27
	(e) Employee beneits expense	1,010.56	908.12	783.13	3,408.30
	(QFinance costs	39.05	19,48	19.53	89.85
	(g) Deprtciation and amortsation expcmse	151.68	142.66	102.99	511.07
	(h) Other expenses	752.40	779.83	684.12	2,997.70
	Total expenses	4,445.45	4,827.33	3,863.26	17,318.07
3	Proft befre exceptional iems and tax (1 - 2)	257.36	485.80	292.02	1,413.17
4	Exceptional items	-	-	-	-
5	Pi;oft befre tax (3 + 4)	257.36	485.80	292.02	1,413.17
6	Tax expense:
	Current tax	io4.32	154.58	119.11	480.82
	Deferred tax	(u.86)	(28.64)	(8.66)	(76.43)
7 8	Net Proft fr te period befre share of proft of iointvcnture (5 - 6) Share of Proft of joint venture	164.90 5.16	359.86 (3-40)	181.57 3-48	1,008.78 21.87
9	Net Proft fr te period (7 + 8)	170.06	356.46	185.05	1,030.65
10	Other comprehensive income, net of I1oome ta A. Items that will not be reclassifed to proft or loss B.Items that will be reclassified to proft orloss	(0.04) (1.48)	0.01 (<i,81)	(11.26) ."8.'2	(9.93) 20.11
	Total other comprehensive income, net of income tax	(1.52)	(45.80)	47.06	10.18
11	Total comprehensive income fr the period (9 +10)	168.54	310.66	232.11	:,040.83
	Net Proft attrbutable to:
	•Owners	170.06	356.46	185.05	1,030.65
	- Non-controlling interests	-	.	.	-
	Total comprehensive income attrbutable to:
	- Owners • Non-controlling interets	168.54 .	310.66 -	232.11 -	1,040.83 .
12	Paid-up equity share capital (Face value Re. J/· each)	158.34	158.34	158.34	158.34
13	Earnings per sb1re (of Re. 1 /- each) (not annualised):
	(a) Basic (b) Diluted	1.07 1.07	2.25 2.25	1.17 1.17	6.51 6.51
14	Reseres excluding Revaluation reere				7,550.65

For and on behalf of the BollJ'd of DirectOl"S

Place: Coimbatore Date: August 02, 2019

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Managing Director ,�k

ELGI EQUIPMENTS LIMITED

Trlchy Road, Slngonollur, Coimbcitore - 641005, Tomilnadu, lndlq T : +91422 2589 555, W :www.elgi.com, loll free No : 1800·1!25-3541.l, CIN : L29120TZl960PLC00035l

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1	The above consolidated fnancial results were reviewed by the Audit Committee and approved by the Board of Directors of Elgi Equipments Limited ("Lhc Company") at I.heir meeting held on August 0212019. The statutor aud.ltors of the Company have carried out a limited review of the above fnancial results fr the quarer ended June 3012019.
2	This statement has been prepared ir1 accordance with the Companie (Tndian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practces and policies to the extent
	applicable.
3	The Group has adopted Ind AS 116 "Lases" with efect fom April 1, 2019 using the modified retrospectve approach. The adoption of the new standard did not have any material impact on the profts of the Group.
4	The Group bas organised the businesses into two ctegories v., Air Compre ors and Automotive Equipments. This reporing complies with the Ind AS segment reporting prnciples. Refer Annexure I attached herewith.
5	The above statements includes Lhc results of the flloing entities:
	Su bsid.u rles
	1. Adisons Precision lostnunents Manufacturlng Company Limited
	2. ATS Elgi Limited
	3. Elgi Equipments (Zhejiang) Limited 4, Elg GulfFZE
	5. Elgi Compressors Do Brasil Imp.E.Exp LTDA
	6. Elgi Equipments Australia Pty Limited
	7. Elgi Compressors Europe S.R.L
	8. RotairSPA
	9. Elgi Compressors USA Inc. 10. Paton's Inc.
	11. Patton's Medical LLC.
	12. PT Elgi Equipments Indonesia
	13. Ergo Design Private Limited
	14. Industria I Air Compressors Pty Ltd 15. F.R. Pulfrd & Son Pty Limited 16. Advanced Ar Compre ors Ply Ltd l7, Elg Compressors Belgium SPRL
	18. Elgi Gulf Mechanical and Engineering Equipment Trading LLC Joint ventlC 1. Elg! Sauer Compresors Limited 2. Industrial Ar Solutions LLP 3. Evergreen Compre ed Air and Vacuum LLC (jointly controlled entity of Elgi Compressors USA Inc.) Joint oper1tions
	1. L.G. Balakrishnan & Bros.
	2. Elgi Services
6	The fgures for the quarer ended March 3112019 are the balancing fgures beteen the audited fgures in r�pect of the full fnancial year ended March 31, 2019 and the published year to date figures upto the third quarter ended December 31, 2018.
7	Previous perod/ year fgures have been regrouped/ reclassifed to make them comparable with those of current perod.
	For ad on beJu1Jf of teBoard of Diectors
ace	: Coimbatore

Place: Coimbatore Date: Au�ust 02, 2019

ELGI EQUIPMENTS LIMITED

Trichy Rood, Singonollur, Coimbcitore - 641005, Tomilnodu, Indio T : +91 422 2589 555, W :w .elgi.com, Toll free No : 1800·U15·3544, CIN : L29120T21960PLC000351

Price Waterhouse Chartered Accountants LLP

Independent Auditors' Report on Review of Interim Standalone Financial Results

The Board of Directors Elgi Equipments Limited Elgi Industrial Complex III Trichy Road, Singanallur Coimbatore - 641 005

1. We have reviewed the unaudited standalone financial results of Elgi Equipments Limited (the "Company") [in which are included results of two jointly controlled entities (representing joint operations)] for the quarter ended June 30, 2019 which are included in the accompanying 'Statement of Standalone Unaudited Results for the quarter ended June 30, 2019' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 1 as amended, (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes.

2. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), presc1ibed under Section 133 of the Companies Act, 20131 and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review 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 review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope ilian an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. The standalone unaudited financial results includes the interim financial results of two jointly controlled entities (representing joint operations) which have not been reviewed by their auditors, whose interim financial results reflect total revenue of Rs. Nil, total net profit after tax of Rs. 0.20 million and total comprehensive income of Rs. 0.20 million for the quarter ended June 30, 2019 1 as considered in the standalone unaudited financial results. According to the information and explanations given to us by the Management, these interim financial results are not material to the Company.

Our conclusion on the statement is not modified in respect of the above matter.

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• Price Wate,·house Charter·edAcco11ntants LLP, 8th Floor, P,-estige Palladium Bayan, 129 Chennai - 600 006, India

T: +91 (44) 4228 5000, F: +91 (44) 4228 5100

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P(1C8 WnlArhnu•e (a P�rl"81sl1ip Firm) ,on,erle�Ql111Ianl$ LLP (8 Llmlle,J Llat,llily Parlne,.I,ip with LLP ld�nlily no. LLf'IN AAC-5001) Willi eNect from July 26. 2014. Post lls conveislon lo P11c;e Watertiou�e Ch.ul1 ed Au:0011tant6 Ll.P, ils ICAI resl.t1atlon numhor I� 012754N/Nbli00I6 (ICAI 1,egistrailon nu,r,IX\r befo,e GOl1vari.,o,i Y.-i.'1012764N)

Price Waterhouse Chartered Accountants LLP

1. 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 recognition and measurement principles laid dow"Il in the aforesaid Indian Accounting Standard and other accounting p1inciples generally accepted in India, 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 Acco1U1tants LLP Firm Registration Number: 012754N/N500016 Chartered Accountants

Place: Coimbatore Date: August 02, 2019

�' ���· Baskar Pannerselvam Partner Membership Number: 213126 UDIN: 19213126AAAA D 8707

Price Waterhouse Chartered Accountants LLP

Independent Auditors' Report on Review oflnterim Consolidated Financial Results

The Board of Directors

Elgi Equipments Limited Elgi Industrial Complex III Trichy Road, Singanallur Coimbatore - 641 005

• l, We have reviewed the unaudited consolidated financial results of Elgi Equipments Limited (the "Parent"), its subsidiaries (the Parent and its subsidiaries hereinafter refe1-red to as the "Group") and jointly controlled entities (refer note 5 to the statement) for the quarter ended June 30, 2019 which are included in the accompanying 'Statement of Consolidated Unaudited Results for the quarter ended June 30, 2019' (the "Statement"), The Statement is being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialed by us for identification purposes.

• This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting'1 ("Ind AS 34"), prescribed nnder Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

• We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", i ued 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 mi tatement. A review of interim financial information consic;ts of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also perfonned procedures in accordance with the circular i ued by the SEBI under Regulation 33(8) of the Listing Regulations, 2015, to the extent applicable.

1. The Statement includes the results of the following entities: Subsidiaries:

1. Elgi Compressor USA Inc., its subsidiaries and its jointly controlled entity 11. PT Elgi Equipments Indonesia iii. ATS Elgi Limited 1v. Adison Precision Instruments Manufacturing Company Limited · v. Ergo Design Private Limited vi. Elgi Equipments (Zhejiang) Limited vii. Elgi Gulf FZE. and its subsidi[ary ] viii. Elgi Compressors Do Brazil Imp. E. Exp. Ltda ix. Elgi Equipments Australia Pty Ltd.

x. Industrial Air Compressors Pty Ltd. And its subsidiaries xi. Elgi Compressors Europe S.R.L and its subsidiaries

Jointly controlled entities Elgi Sauer Compressors Limited 11. Industrial Afr Solutions LLP i.

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Pl'ice Watel'house Chartered Accuuntants LLP, Btlt Floor, Prestige Palladium Raya Che,111ai • 600 006, India

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P,icc W•l�1h0use (e Partnnrshlp Fi,111) u,,werti>d lnlo Price Wol••flouoe Chartnrlld Accuur,ta,,ts LLP (a Llmll�d Liabllliy Pa1tn;,rsi,lp wilt, LLP lderiilly 110: LLPIN MC-5001) wot, nfl<K"I rrom July 25, 2014. Post 11$ tonv•••ion to Prl<:e Wnlmhou11e Chsr1�r"l! llrr.ounlm11& LLP, Its ICP.J "'9lslr,1lio� nu/fiber Is 0127�N/N500016 (ICAI re�l•lr�ilotl number ber1>10 tonve, sion was O 127�N)

ountants LLP Price Waterhouse Chartered Ac

iii. L.G. Balakrishnan & Bros iv. Elgi Services

1. Based on ow· review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review 1·eports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of Listh1g Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

2. We did not review the interim financial results of six subsidiaries (including their relevant stepdown subsidiaries and a jointly controlled entity) included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs. 2,013.83 million, total net profit after tax of Rs. 24.62 mi l ion and total comprehensive income of Rs. 15,46 million, for the quarter ended Jnne 30, 2019, as considered in the consolidated unaudited financial results. These interim financial results have been reviewed by other auditors who carried out their review in accordance with SRE 2400, Engagements to Review Historical Financial Statements and their reports dated August 02, 2019, vide which they have issued an unmodified conclusion, have been furnished to us by the Parent's Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries (including their relevant stepdown subsidiaries and a jointly controlled entity), is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

1. The consolidated unaudited financial results includes the interim financial results of four subsidiaries and two jointly controlled entities (representing joint operations) which have not been reviewed by their auditors, whose interim financial results reflect total revenue of Rs. 46.25 million, total net profit after tax of Rs. 2.20 million and total comprehensive income of Rs. 3.44 million for the quarter ended Jnne 30, 2019, as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also includes the Group's share of net profit after tax of Rs. 2.63 million and total comprehensive income of Rs. 2.63 million for the qua1ter ended June 30, 2019, in respect of two joint ventures, based on their interim financial results which have not been reviewed by their auditors. According to the information and explanations given to us by the Parent's Management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754,N/N500016 Chartered Accountants

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Place: Coimbatore Date: August 02, 2019

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An cxure I - Se=ent Revenue, Results and caoital Emoloved

											(R. in MlllionR
								Qmter ended			Yea ended
SI No.		Parculars		Jle 30,				Mach 31,		Jwiea<,	March 31,
					2019				2019	2018	2019
				(lnaudlll:dl					(Audited)	(Unaudited)	(Audited)
1		Segment Revenue
		a) Air Compressors			4,213.98				4,769.19	3,730.51	16,740.16
		b) Automotive equipments			452.90				511.78	404.63	1,897,42
		L ; Inter segment revenue Income fom operatons			4,666.88 0.48 4.666.40				5,280.97 0.66 ,.280.31	4,135.14 o,c, 4.134-59	18,637.58 2,89 18.6:.6(
2		Segment Results (Proft befre tax)
		a) Air Compressors b) Automotive equipments			227.06 :o.07				440.90 44.90	279.85 12.17	1,292.47 120,70
					257.13				485.80	292.02	1,413.17
		AddJnter segment result			0.23 257.36				. 485.80	- 292.02	- 1., 3.17
s		Segent A ets
		a) Air Compressors b) Automotive equipments			13,702.27 l 18:QQ				12,695.56 1 l/Q,10	11,451.35 1017,77	12,695.56 1 11;9,10
		Lss: Inter segment assets			14,886.26 21,97 14,864.29				13,854.66 - 13,854.66	12,469.12 - 12,469.12	13,854.66 - 13,814,66
4		Segment Liabilites
		a) Air Compressors b) Automotive equipments			6,641.33 367,52				5,779.80 36!,76	5,049.03 310.,2	5,779.80 :65.76
		Less: Inter segment liabilitie			7,008.85 22.20 6,986.65				6,145.56 . 6,145.56	5,359.55 . 5,3!Q,55	6,145.56 - 6,lAR,56
s		Capita Employed [Segment A ets•Segment Liabilities]
		a) Air Compressors			7,060.94				6,915.76	6,402.32	6,915.76
		b) Automotive equipments			816,47				7QS.34	707.25	79'V14
					7,877.41				7,709.10	7,109.57	7,709.10
		Add: Inter segment c.apital employed			0,23 7,877,64				- 7,70(,10	- 7,109.57	- 7,709.10
		eChaered� �" Ot �?'�AAC-5001 I� ;\ t � � � For and on behalfofthe Board of Directors Place: Coimbatore Date : AUiSt 02 2019 . , ,. A( "< F1No12,;11�Qao � •' Chenna" Jt[

ELGI EQUIPMENTS LIMITED

Trlchy Road, Slngonollur, Coimbcitore · 6UlOOS, Tamilnadu, Indio T : +91422 2589 555, W ;www.elgi.com, Toll - r, ee No : 1800-425·351. , CIN: L29120TZ1960PLC000351

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Press Release - 02/08/2019

Elgi Equipments Limited - First quarer 2019-20 result�

Elgi Equipments Ltd, manufacturer of air compressors, announced today the results for the first quarter ended 30[th ] June, 2019, posting a PAT of Rs. 17.0 Crore for the quarter, compared to Rs. 18.5 Crore in the same period in 2018-2019 on a consolidated basis.

Consolidated sales for the quarter was Rs. 467 Crore as against Rs. 413 Crore in the corresponding quarter in 2018-2019.

The standalone PAT for the quarter was Rs.14 Crore as compared to Rs.22 Crore in the same period in 2018-19.

The Company's compressor business in the domestic market grew by 5% over the corresponding quarter in 2018-19, in spite of a slowdown in real GDP growth. The growth is in line with expectations in most segments. The Company's international business has grown steadily in its key focus markets, notwithstanding stiff competition in the market.

The Company's automotive business grew by 12%, successfully overcoming a slide in automobile sales pan India, when compared to the corresponding quarter in 2018-2019.

Outlook for the second quarter 2019-20

The same trend is expected to continue during the second quarter. A higher growth can be realized in domestic market if the automotive industry picks up and infrastructure investments improve.

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ELGI EQUIPMENTS LIMITED

Trlchy Rood, slnganallur, Coimbatore - 61'1005, Tamilnadu, India T: +91U222589 555, W :www.elgi.com, Toll- free No: 1800-Lf25-3544, CIN: L29120T21960PLC000351