Elgi Equipments Stock Forecast

Stock Price Forecast

According to 5 analysts polled by S&P Global, Elgi Equipments stock has a consensus rating of "Buy" and an average price target of ₹677.40. The average 1-year stock price forecast is 10.55% higher than the current stock price, while the lowest is ₹636.00 (+3.79%) and the highest is ₹765.00 (+24.85%).

Price Target: ₹677.40 (+10.55%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	₹636.00	₹677.40	₹665.00	₹765.00
Change	+3.79%	+10.55%	+8.53%	+24.85%

* Price targets were last updated on Feb 27, 2026.

Analyst Ratings

The average analyst rating for Elgi Equipments stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Jan '26	Feb '26	Mar '26	Apr '26	May '26	Jun '26
Strong Buy	1	1	1	1	2	2
Buy	1	2	2	2	2	2
Hold	0	0	0	0	0	0
Sell	0	0	0	0	0	0
Strong Sell	1	0	0	0	0	0
Total	3	3	3	3	4	4

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Unknown Analyst Prabhudas Lilladher No rating	Prabhudas Lilladher	Buy Maintains ₹603.00	Buy	Maintains	₹603.00	-1.59%	Feb 27, 2026
Unknown Analyst ICICI Securities No rating	ICICI Securities	Buy Maintains ₹620.00	Buy	Maintains	₹620.00	+1.18%	Feb 12, 2026

Financial Forecast

Revenue This Year

44.54B

from 39.51B

12.73%

from 39.51B

Revenue Next Year

50.30B

from 44.54B

12.95%

from 44.54B

EPS This Year

15.65

from 13.96

12.08%

from 13.96

EPS Next Year

18.23

from 15.65

16.51%

from 15.65

Fiscal Year	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026	FY 2027
Period Ending	Mar 31, 2022	Mar 31, 2023	Mar 31, 2024	Mar 31, 2025	Mar 31, 2026	Mar 31, 2027
Revenue	25.25B	30.41B	32.18B	35.10B	39.51B	44.54B
Revenue Growth	31.10%	20.44%	5.82%	9.09%	12.54%	12.73%
Gross Profit	11.37B	14.71B	16.20B	17.64B	20.17B	22.89B
Gross Margin	45.02%	48.39%	50.34%	50.25%	51.05%	51.40%
Operating Income	2.22B	3.59B	4.14B	4.55B	4.93B	6.14B
Net Income	1.78B	3.71B	3.12B	3.50B	4.30B	5.04B
EPS	-	-	-	-	13.96	15.65
EPS Growth	-	-	-	-	26.03%	12.08%
Forward PE	48.51	45.15	50.48	37.74	31.53	39.15
Dividend / Share	1.15	2.00	2.00	2.20	2.70	2.57
Dividend Growth	-	73.91%	-	10.00%	22.73%	-4.94%
Free Cash Flow	-7.59M	848.37M	1.73B	2.63B	2.52B	2.88B
No. Analysts	-	-	-	-	-	5

EPS and Forward PE are based on non-GAAP adjusted numbers. Financial currency is INR.

Revenue Forecast

Revenue	2027	2028	2029
High	45.5B
Avg	44.5B
Low	43.8B

Revenue Growth

Revenue Growth	2027	2028	2029
High	15.2%
Avg	12.7%
Low	11.0%

EPS Forecast

EPS	2027	2028	2029
High	-
Avg	15.65
Low	-

EPS Growth

EPS Growth	2027	2028	2029
High	-
Avg	12.1%
Low	-