Elgi Equipments Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

Elgi Equipments share price Rs 575.40 (9 October 2026). Base target Rs 680, bull Rs 822, downside risk Rs 463. PE 40.97. 52W range Rs 408.25 to Rs 653.40.

Investors weighing an Elgi Equipments target price for 2027 should start with where the stock sits today. At Rs 575.40 on 9 October 2026, it is 11.9% below its 52-week high of Rs 653.40 and 40.9% above its 52-week low of Rs 408.25. That range spans 60% from low to high, so the entry point matters as much as the Elgi Equipments price forecast itself.

This article builds the Elgi Equipments share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 680 base case and the Rs 822 bull case were reached, along with a downside risk level of Rs 463.

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Elgi Equipments Stock Analysis: Company Overview and Key Stats

Elgi Equipments (NSE: ELGIEQUIP) has a market capitalisation of Rs 18,347 crore. In FY26 it reported revenue of Rs 4,068 crore and net profit of Rs 430.20 crore. The table collects the figures the Elgi Equipments share price target is built on.

Metric	Value
Company	Elgi Equipments
NSE Ticker	ELGIEQUIP
CMP (9 October 2026)	Rs 575.40
52-Week High	Rs 653.40
52-Week Low	Rs 408.25
Market Cap	Rs 18,347 crore
PE Ratio (TTM)	40.97
Industry PE	47.18
Price to Book	8.22
Return on Equity	19.28%
Debt to Equity	0.24
EPS (TTM)	Rs 14.13
Dividend Yield	0.47%
12-Month Base Target	Rs 680
Bull Case	Rs 822
Downside Risk Level (not a target)	Rs 463

Why Is Elgi Equipments Share Price Target Set at Rs 680 for 2027?

The base-case Elgi Equipments stock target of Rs 680 applies a PE multiple of 40.97 to a forward EPS estimate of Rs 16.59. That EPS assumes 17.4% yearly growth, the pace from FY24 to FY26, and puts the target 18.2% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the Elgi Equipments Target Price: Five Years of Results

Elgi Equipments grew revenue 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 faster, from Rs 178.43 crore to Rs 430.20 crore (24.6% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	2,579.68	178.43	5.64	1.15
FY23	3,107.91	370.81	11.71	2.00
FY24	3,272.80	312.10	9.87	2.00
FY25	3,568.10	350.20	11.08	2.20
FY26	4,068.50	430.20	13.61	2.70

FY26 revenue growth was 14.0%, close to the four-year average of 12.1%, and net profit moved up 22.8%. EPS rose from Rs 9.87 in FY24 to Rs 13.61 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

Elgi Equipments converted 10.6% of FY26 revenue into net profit, against 9.8% in FY25, within a five-year range of 6.9% to 11.9%. EBITDA margin was 16.9% in FY26 versus 16.5% in FY25.

In the June 2026 quarter, revenue was Rs 1,083 crore, up 22.1% from the same quarter a year earlier, while net profit of Rs 103.30 crore was up 20.7%. EBITDA came in at Rs 175.70 crore, up 24.8% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.24, and shareholders’ equity grew from Rs 1,033 crore in FY22 to Rs 2,232 crore in FY26. Operating cash flow in FY26 was Rs 453.50 crore against capital expenditure of Rs 154.40 crore, leaving free cash flow of Rs 299.10 crore, or 1.6% of the current market capitalisation. In FY25 free cash flow was Rs 296.10 crore.

Valuation Check for the Elgi Equipments Stock Target: PE, Price to Book and ROE

At a PE of 40.97 against an industry PE of 47.18, Elgi Equipments trades at a discount to its industry. Price to book is 8.22 on a book value of Rs 70.43 per share, and return on equity is 19.28%. A PE of 40.97 equals an earnings yield of 2.4%, and the FY26 dividend of Rs 2.70 per share gives a yield of 0.47%.

Shareholding Pattern and Institutional Holding

Promoters held 31.19% of Elgi Equipments in June 2026, and promoter holding has stayed near 31.19% since June 2025. Foreign institutional investors (FII) held 21.90% and domestic institutions (DII) held 10.13%, which puts total institutional holding at 32.03%. FII holding fell from 27.62% in June 2025 to 21.90% in June 2026. Public shareholders own the remaining 36.78%. A meaningful institutional holding adds a layer of research coverage and trading depth.

Elgi Equipments Share Price Targets for the Short Term and 12 Months

Short Term Elgi Equipments Stock Target Levels: Technical Setup

At Rs 575.40 on 9 October 2026, Elgi Equipments trades below its 50-day simple moving average of Rs 605.73 and above its 200-day exponential moving average of Rs 562.15. The 14-day RSI reads 35.0, which is neutral territory, and the MACD line sits below its signal line. The nearest resistance level is Rs 605.73 (50-day simple moving average) and the nearest support is Rs 562.15 (200-day exponential moving average). A sustained move above Rs 605.73 would improve the short-term setup, while a close below Rs 562.15 would shift attention to the next support.

12 Month Elgi Equipments Target Price for 2027

The 12-month target for Elgi Equipments is Rs 680: forward EPS of Rs 16.59 at a PE of 40.97. That is 18.2% above Rs 575.40. It would also push the stock above its 52-week high of Rs 653.40.

How EPS Growth and PE Multiple Change the Elgi Equipments Target Price

EPS Growth	PE 32.78	PE 40.97	PE 47.12
0.0% (EPS Rs 14.13)	Rs 463	Rs 579	Rs 666
17.4% (EPS Rs 16.59)	Rs 544	Rs 680	Rs 782
23.4% (EPS Rs 17.44)	Rs 572	Rs 715	Rs 822

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Elgi Equipments price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for Elgi Equipments Stock Target in 2027

Bull Case Rs 822

The bull case Elgi Equipments price target needs EPS growth of 23.4%, which lifts forward EPS to Rs 17.44, and a PE multiple that rises 15% to 47.12. That gives Rs 822, 42.9% above the current price and above the 52-week high of Rs 653.40, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 463

The downside risk level is not a target. It assumes EPS stays flat at Rs 14.13 and the PE falls 20% to 32.78. That gives Rs 463, 19.5% below the current price and above the 52-week low of Rs 408.25.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	23.4%	47.12	Rs 822	+42.9%
Base Case	17.4%	40.97	Rs 680	+18.2%
Downside Risk	0.0%	32.78	Rs 463	-19.5%

Key Risks to the Elgi Equipments Target Price for 2027

Growth Slowdown Risk for the Elgi Equipments Price Target

Revenue in the June 2026 quarter was up 22.1% year on year, and FY26 revenue growth was 14.0%. If growth slows from here, the EPS estimate behind the Elgi Equipments stock target will need revising.

Liquidity and Size Risk

Elgi Equipments has a market capitalisation of Rs 18,347 crore. Institutional holding is 32.03%, and promoters hold 31.19%. Stocks of this size are usually liquid, though exits can take longer than entries when the market is falling.

Valuation and Margin Risk

Net margin was 10.6% in FY26, and a squeeze from higher costs or weaker pricing would hit earnings first. At a PE of 40.97 versus an industry PE of 47.18, a de-rating toward the downside-risk PE of 32.78 would cut the price even if earnings hold.

Market and Technical Risk

The stock trades 11.9% below its 52-week high, with an RSI of 35.0 and a MACD reading below its signal line. Broader market weakness can override company fundamentals in the short term.

How to Invest in Elgi Equipments

Start with the live price and volume. Any Elgi Equipments share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 575.40 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check Elgi Equipments’ PE, ROE, debt and shareholding in one place.

Check Elgi Equipments fundamentals on the Univest Screener

Then compare the three Elgi Equipments target price scenarios with your own view. If you expect EPS growth below 17.4%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track Elgi Equipments live price and get daily stock recommendations.

Conclusion

The Elgi Equipments share price target for 2027 is Rs 680 in the base case, with Rs 822 as the bull case. The support for that view is arithmetic you can check: EPS grew 17.4% a year over FY24 to FY26, and the stock trades at a PE of 40.97. The risks are equally concrete, including a stock that sits 11.9% below its 52-week high and a downside scenario that cuts the price 20% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on Elgi Equipments Share Price Target 2027

What is the Elgi Equipments share price target for 2027?

Ans. The base-case Elgi Equipments share price target for 2027 is Rs 680, with Rs 822 as the bull case. The downside risk level, which is not a target, is Rs 463. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.

What is the Elgi Equipments share price today?

Ans. As of 9 October 2026, 1:00 PM IST, Elgi Equipments trades at Rs 575.40, down 0.62% on the day. The 52-week range is Rs 408.25 to Rs 653.40.

Is Elgi Equipments a buy or sell at the current price?

Ans. The data is mixed rather than one-sided: EPS has grown 17.4% a year over FY24 to FY26, but the stock is 11.9% below its 52-week high. Whether Elgi Equipments fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.

What are the bull case target and downside risk level for Elgi Equipments shares?

Ans. The bull case target is Rs 822, which assumes 23.4% EPS growth and a PE of 47.12. The downside risk level is Rs 463, which assumes flat EPS and a PE of 32.78. It marks a risk, not a target.

What are the main risks to the Elgi Equipments price target?

Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 18,347 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.

What is the PE ratio of Elgi Equipments and how does it compare with the industry?

Ans. The PE ratio of Elgi Equipments is 40.97 against an industry PE of 47.18. Price to book is 8.22 and return on equity is 19.28%. The base case in the Elgi Equipments price target holds this PE constant.

Who owns Elgi Equipments, and what is the promoter holding?

Ans. Promoters held 31.19% of Elgi Equipments in June 2026. FII held 21.90%, DII held 10.13% and the public held 36.78%.

What were Elgi Equipments’ latest quarterly results?

Ans. In the June 2026 quarter, Elgi Equipments reported revenue of Rs 1,083 crore (up 22.1% year on year) and net profit of Rs 103.30 crore (up 20.7%).