Elgi sees faster recovery in firm’s markets

Air compressor manufacturer Elgi Equipments expects domestic and international markets to have equal contribution to its business in the second half of the financial year.

Managing director Jairam Varadaraj told The Hindu that the COVID-19 impact was not as deep as expected and recovery was faster in both domestic and international markets.

The company’s consolidated sales for the second quarter was Rs. 480 crore in FY21 as against Rs. 445 crore in the corresponding quarter last year.

Elgi will not look at acquisitions now but will continue to make the required investments, Mr. Varadaraj added.