3 Electrical Products Leader, Air Compressors and Diesel Engines Stocks With a Strong Future Roadmap: Havells India, Elgi Equipments and Kirloskar Oil Engines
- October 21, 2026
- Posted by: Neeraj Pandey
- Category: Best Stocks
Havells India, Elgi Equipments and Kirloskar Oil Engines: ROE of 15.9% to 19.3% and FY22 to FY26 revenue CAGR of 12.1% to 17.7%. Prices as of 20 Oct 2026.
Quick Answer
The three electrical and compressor stocks to watch are Havells India, Elgi Equipments and Kirloskar Oil Engines. Their return on equity ranges from 15.9% to 19.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.1% to 17.7%. Elgi Equipments has the highest return on equity at 19.3%, while Kirloskar Oil Engines has the fastest revenue growth at 17.7% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.
Electrical and compressor stocks let investors follow the companies that supply the products inside homes, factories and power setups. Havells India, Elgi Equipments and Kirloskar Oil Engines cover electrical products, air compressors, and diesel engines and power solutions.
This list covers three electrical and compressor stocks with complete current figures: Havells India, Elgi Equipments and Kirloskar Oil Engines. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.
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What Are Electrical and Compressor Stocks?
Electrical and compressor stocks are listed companies that make electrical goods, compressors and engines for consumers and industry. Their earnings depend on housing and factory activity, brand strength and export demand.
Electrical and Compressor Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Havells India | 1,102.7 | 68,928 | 42.2 | 44.3 | 17.9 | 0.03 |
| Elgi Equipments | 544.35 | 17,259 | 38.5 | 44.4 | 19.3 | 0.24 |
| Kirloskar Oil Engines | 1,973.2 | 28,722 | 53.7 | 44.4 | 15.9 | 1.48 |
On valuation, Havells India and Elgi Equipments trade at a P/E below the industry P/E, while Kirloskar Oil Engines trades above it, which reflects the growth the market already expects. Readers comparing electrical and compressor stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Electrical and Compressor Stocks Have a Strong Roadmap in India?
Electrical and compressor stocks have a strong roadmap in India because housing growth, factory expansion and rising demand for backup and efficient power are broadening the market for these products.
- Housing and construction. New homes and buildings need wires, switches and fans.
- Factory activity. Industrial plants use compressors and engines in daily operations.
- Product upgrades. Customers are choosing energy efficient and premium models.
Why Havells India Features Among These Electrical and Compressor Stocks
Among the electrical and compressor stocks on this list, Havells India is a leading electrical products company that sells fans, lighting, switchgear, wires and cables, and consumer appliances, along with Lloyd air conditioners.
In the June 2026 quarter, revenue grew 19.0% year on year to Rs 6,572 crore. Revenue rose from Rs 14,099 crore in FY22 to Rs 23,022 crore in FY26, a compound annual growth rate of 13.0%.
Net profit grew from Rs 1,196 crore in FY22 to Rs 1,689 crore in FY26, which works out to a compound annual growth rate of 9.0%. The company has a return on equity of 17.9%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 68,928 crore. The stock trades at a P/E of 42.2, below the industry P/E of 44.3.
Roadmap: The company sells through a wide dealer network and keeps adding premium products and new categories such as air conditioners and water heaters. Capacity expansion in cables and appliances supports future growth.
What to watch: Check growth in the cables and Lloyd air conditioner businesses.
Why Elgi Equipments Features Among These Electrical and Compressor Stocks
Among the air compressor shares on this list, Elgi Equipments, based in Coimbatore, is a major manufacturer of air compressors for industrial customers, selling in India and in international markets through its own subsidiaries.
The company has a return on equity of 19.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 17,259 crore. The stock trades at a P/E of 38.5, below the industry P/E of 44.4.
Revenue rose from Rs 2,580 crore in FY22 to Rs 4,068 crore in FY26, a compound annual growth rate of 12.1%. Net profit grew from Rs 178 crore in FY22 to Rs 430 crore in FY26, which works out to a compound annual growth rate of 24.6%. In the June 2026 quarter, revenue grew 22.1% year on year to Rs 1,083 crore, while net profit rose 20.7% to Rs 103 crore.
Roadmap: The company is growing its oil-free and energy-efficient compressor range and building a service-led annuity through spares and aftermarket support. International units add geographic spread, and automation in manufacturing improves efficiency.
What to watch: Follow industrial capital spending trends and the contribution of international subsidiaries.
Why Kirloskar Oil Engines Features Among These Electrical and Compressor Stocks
Among the three companies on this list, Kirloskar Oil Engines, based in Pune, makes diesel and gas engines, generator sets, pumps and power solutions for industrial, farm and infrastructure use.
Revenue rose from Rs 4,049 crore in FY22 to Rs 7,772 crore in FY26, a compound annual growth rate of 17.7%. Net profit grew from Rs 171 crore in FY22 to Rs 558 crore in FY26, which works out to a compound annual growth rate of 34.4%.
In the June 2026 quarter, revenue grew 12.1% year on year to Rs 2,015 crore. The company has a return on equity of 15.9%, a debt to equity ratio of 1.48 and a market capitalisation of Rs 28,722 crore. The stock trades at a P/E of 53.7, above the industry P/E of 44.4.
Roadmap: Backup power demand from data centres, telecom and infrastructure, a growing exports business and new alternative-fuel engines give it several tracks for growth. A large service network helps it hold on to customers across product cycles.
What to watch: Watch order intake from data centres and the pace of new product launches in cleaner fuels.
Havells India vs Elgi Equipments vs Kirloskar Oil Engines on Key Financials
The table below sets the three electrical and compressor stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Havells India | 14,099 | 23,022 | 13.0% | 1,689 | 7.3% |
| Elgi Equipments | 2,580 | 4,068 | 12.1% | 430 | 10.6% |
| Kirloskar Oil Engines | 4,049 | 7,772 | 17.7% | 558 | 7.2% |
Elgi Equipments posts the highest return on equity in this group at 19.3%. Havells India has the largest FY26 revenue at Rs 23,022 crore, and Kirloskar Oil Engines shows the fastest revenue growth with a 17.7% compound annual rate. A useful habit with electrical and compressor stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Havells India | 5,525 | 6,572 | 19.0% |
| Elgi Equipments | 886 | 1,083 | 22.1% |
| Kirloskar Oil Engines | 1,796 | 2,015 | 12.1% |
Key Risks to Check Before Investing in Electrical and Compressor Stocks
Every theme carries risks that deserve a check before any decision. For these electrical and compressor stocks, the main points are: Long-term air compressor shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Raw material costs. Copper, aluminium and steel prices can affect margins.
- Industrial slowdowns. Weaker factory spending can delay industrial orders.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter electrical and compressor stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Electrical and Compressor Stocks
Electrical and compressor stocks reward investors who follow volumes, margins and order flow together. Havells India, Elgi Equipments and Kirloskar Oil Engines each have broad customer bases. Based on the 20 October 2026 close, Havells India trades at Rs 1,102.7, Elgi Equipments at Rs 544.35 and Kirloskar Oil Engines at Rs 1,973.2.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are electrical and compressor stocks?
Ans. Electrical and compressor stocks are listed companies that make electrical goods, compressors and engines for consumers and industry. Their earnings depend on housing and factory activity, brand strength and export demand. This list looks at three of them, Havells India, Elgi Equipments and Kirloskar Oil Engines, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.
Which electrical and compressor stocks are covered in this list?
Ans. This list covers Havells India, Elgi Equipments and Kirloskar Oil Engines. Based on the 20 October 2026 close, Havells India traded at Rs 1,102.7, Elgi Equipments at Rs 544.35 and Kirloskar Oil Engines at Rs 1,973.2. Their return on equity ranges from 15.9% to 19.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.1% to 17.7%.
Why do electrical and compressor stocks have a strong future roadmap in India?
Ans. Electrical and compressor stocks have a strong roadmap in India because housing growth, factory expansion and rising demand for backup and efficient power are broadening the market for these products. The main drivers are as follows. Housing and construction. New homes and buildings need wires, switches and fans. Factory activity. Industrial plants use compressors and engines in daily operations. Product upgrades. Customers are choosing energy efficient and premium models. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Havells India performed financially?
Ans. Revenue rose from Rs 14,099 crore in FY22 to Rs 23,022 crore in FY26, a compound annual growth rate of 13.0%. Net profit grew from Rs 1,196 crore in FY22 to Rs 1,689 crore in FY26, which works out to a compound annual growth rate of 9.0%. In the June 2026 quarter, revenue grew 19.0% year on year to Rs 6,572 crore. The company has a return on equity of 17.9%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 68,928 crore. The stock trades at a P/E of 42.2, below the industry P/E of 44.3. Looking ahead, the company sells through a wide dealer network and keeps adding premium products and new categories such as air conditioners and water heaters. Capacity expansion in cables and appliances supports future growth.
How has Elgi Equipments performed financially?
Ans. Revenue rose from Rs 2,580 crore in FY22 to Rs 4,068 crore in FY26, a compound annual growth rate of 12.1%. Net profit grew from Rs 178 crore in FY22 to Rs 430 crore in FY26, which works out to a compound annual growth rate of 24.6%. In the June 2026 quarter, revenue grew 22.1% year on year to Rs 1,083 crore, while net profit rose 20.7% to Rs 103 crore. The company has a return on equity of 19.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 17,259 crore. The stock trades at a P/E of 38.5, below the industry P/E of 44.4. Looking ahead, the company is growing its oil-free and energy-efficient compressor range and building a service-led annuity through spares and aftermarket support. International units add geographic spread, and automation in manufacturing improves efficiency.
How has Kirloskar Oil Engines performed financially?
Ans. Revenue rose from Rs 4,049 crore in FY22 to Rs 7,772 crore in FY26, a compound annual growth rate of 17.7%. Net profit grew from Rs 171 crore in FY22 to Rs 558 crore in FY26, which works out to a compound annual growth rate of 34.4%. In the June 2026 quarter, revenue grew 12.1% year on year to Rs 2,015 crore. The company has a return on equity of 15.9%, a debt to equity ratio of 1.48 and a market capitalisation of Rs 28,722 crore. The stock trades at a P/E of 53.7, above the industry P/E of 44.4. Looking ahead, backup power demand from data centres, telecom and infrastructure, a growing exports business and new alternative-fuel engines give it several tracks for growth. A large service network helps it hold on to customers across product cycles.
What risks should investors check before buying electrical and compressor stocks?
Ans. Investors should check a few risks before buying electrical and compressor stocks. Raw material costs. Copper, aluminium and steel prices can affect margins. Industrial slowdowns. Weaker factory spending can delay industrial orders. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of electrical and compressor stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
