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

08 Sep 2025

DRDO Transfers Key Defence Materials Tech to Industry

The Defence Metallurgical Research Laboratory (DMRL) of DRDO in Hyderabad has transferred three advanced indigenous materials technologies to leading Indian industry partners, marking a major step towards self-reliance in strategic defence manufacturing. The Licensing Agreement for Transfer of Technology (LAToT) documents were handed over by Dr Samir V Kamat, Secretary of Defence R&D and Chairman of DRDO, at a ceremony held at DMRL on 30 August 2025.The transferred technologies include:High-Strength Radomes: Transferred to BHEL, Jagdishpur, this technology enables the manufacture of high-p..

Coal Ministry Honours Top Mines for Safety and Sustainability

The Ministry of Coal hosted the Star Rating Award Ceremony in Mumbai to recognise outstanding coal and lignite mines for their achievements in safety, environmental responsibility, scientific operations, and community welfare. Union Minister of Coal and Mines Shri G. Kishan Reddy, accompanied by Minister of State Shri Satish Chandra Dubey and Secretary Shri Vikram Dev Dutt, presented the accolades.The awards celebrate mines that have demonstrated excellence across key parameters such as safety, productivity, scientific mining, environmental stewardship, and socio-economic impact. The Minister ..

Modi Highlights Decade of Bold Economic Reforms

Prime Minister Shri Narendra Modi reaffirmed the government’s steadfast commitment to economic reforms over the past decade, highlighting transformative measures that have redefined India’s fiscal structure and enhanced its global economic position.Citing major initiatives such as corporate tax cuts to encourage investment, the implementation of the Goods and Services Tax (GST) to unify the national market, and reforms in personal income tax to improve Ease of Living, Modi emphasised that the reform agenda has consistently been citizen-focused and pro-growth.He welcomed the ongoing #NextGe..