Elgi Equipments announces PAT of Rs 60.5 cr in 1QFY2023

16 Aug 2023 CW Team

Elgi Equipments, manufacturer of air compressors, announced the results for the first quarter ended June 30, 2023. Consolidated PAT for the quarter was Rs 60.5 crore compared to Rs 48.7 crore in the same period in 2022-23. Consolidated sales for the first quarter was Rs 724 crore as against Rs 694 crore in the corresponding quarter in 2022-23.

The standalone PAT for the first quarter was Rs 67.1 crore compared to Rs 44.6 crore in the same period in 2022-23.

The compressor business in the domestic market met the targeted numbers. Business growth in Europe and Brazil were commensurate with the budget. Sales realisations were affected in USA due to temporary disruption caused by the ongoing ERP implementation. Business performance in Middle East and Africa, Australia and South-East Asian Countries were satisfactory.

The automotive business achieved the targets. The ongoing ERP implementation in the US has stabilsed and is expected to be normal by the second quarter and sales is expected to bounce back to normal levels.

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..