Lakshmi Machine Works vs Azad Engineering vs Elgi Equipments: Which Stock Should You Track

Lakshmi Machine Works vs Azad Engineering vs Elgi Equipments starts with the core numbers most investors compare within the Industrial Machinery segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of October 2026 and will shift with daily price moves.

All three names sit in the Industrial Machinery bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.

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Lakshmi Machine Works, Azad Engineering and Elgi Equipments: Company Overview

Lakshmi Machine Works is a listed Indian company in the Industrial Machinery space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Azad Engineering is a listed Indian company in the Industrial Machinery space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Elgi Equipments is a listed Indian company in the Industrial Machinery space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Lakshmi Machine Works vs Azad Engineering vs Elgi Equipments: Valuation and Profitability Snapshot

Metric	Lakshmi Machine Works	Azad Engineering	Elgi Equipments
Market Cap (approx.)	Rs 18,114 crore	Rs 18,827 crore	Rs 18,888 crore
PE Ratio (TTM)	103.63	135.15	42.18
PB Ratio	6.32	12.31	8.46
Return on Equity (ROE)	4.56%	8.69%	19.28%
EPS (TTM, Rs)	163.62	21.57	14.13
Dividend Yield	0.21%	0.00%	0.45%
Debt to Equity	0.00	0.31	0.24
Book Value per Share (Rs)	2683.26	236.74	70.43

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On valuation, Lakshmi Machine Works trades at a PE of 103.63 and a PB of 6.32, Azad Engineering at a PE of 135.15 and a PB of 12.31, while Elgi Equipments trades at a PE of 42.18 and a PB of 8.46. On return on equity, the three post 4.56%, 8.69% and 19.28% respectively, and on dividend yield they stand at 0.21%, 0.00% and 0.45%.

Lakshmi Machine Works vs Azad Engineering vs Elgi Equipments: Latest Quarterly Results

Company	Latest Quarter Revenue	Latest Quarter Net Profit	YoY Change (Revenue)	QoQ Change (Revenue)
Lakshmi Machine Works	Rs 901.73 crore	Rs 55.52 crore	+23.4%	-7.2%
Azad Engineering	Rs 176.15 crore	Rs 35.16 crore	+20.8%	-1.1%
Elgi Equipments	Rs 1,082.60 crore	Rs 103.30 crore	+22.1%	-4.6%

Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter.

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What Should Investors Look at Beyond These Numbers?

Beyond the metrics above, investors comparing these three industrial machinery names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.

Conclusion

Lakshmi Machine Works vs Azad Engineering vs Elgi Equipments highlights how differently three companies in the same industrial machinery segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.

FAQs on Lakshmi Machine Works vs Azad Engineering vs Elgi Equipments

What is the market cap difference between Lakshmi Machine Works, Azad Engineering and Elgi Equipments?

Ans. As of October 2026, Lakshmi Machine Works has a market cap of approximately Rs 18,114 crore, Azad Engineering is at approximately Rs 18,827 crore, and Elgi Equipments is at approximately Rs 18,888 crore.

Which of the three has the highest PE ratio?

Ans. Among Lakshmi Machine Works, Azad Engineering and Elgi Equipments, the PE ratios stand at 103.63, 135.15 and 42.18 respectively as of October 2026.

Which of the three has the highest ROE?

Ans. Lakshmi Machine Works, Azad Engineering and Elgi Equipments post ROE of 4.56%, 8.69% and 19.28% respectively as of October 2026.

Which of these three stocks pays the highest dividend yield?

Ans. Lakshmi Machine Works, Azad Engineering and Elgi Equipments carry dividend yields of 0.21%, 0.00% and 0.45% respectively.

What is the debt to equity ratio for Lakshmi Machine Works, Azad Engineering and Elgi Equipments?

Ans. Lakshmi Machine Works carries a debt to equity of 0.00, Azad Engineering of 0.31, and Elgi Equipments of 0.24.

Which of the three trades at the highest price to book value?

Ans. Lakshmi Machine Works, Azad Engineering and Elgi Equipments trade at price to book ratios of 6.32, 12.31 and 8.46 respectively.

Is one of Lakshmi Machine Works, Azad Engineering or Elgi Equipments better than the others?

Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research.