Elgi Equipments aims to be among the top three global air compressor manufacturers in terms of revenue by 2035-36. The firm has plannned a capex of Rs 254.7 crore and will consolidate its operations at one location in Coimbatore, Tamil Nadu.
This is part of the investment which will happen in phases for four to five years. The company is expanding its global support centre, towards spare parts supplies for the whole world and an assembly line, at Singanallur in Coimbatore.
Elgi witnessed growth in all markets, and across sectors like construction, mining, and after market in India. Its net profit rose year-on-year (YoY) to Rs 311.9 crore from Rs 293.3 crore.