Elgi Equipments announced that N Mohan Nambiar, (DIN: 00003660) will retired as an Independent Director of the Company with effect from 10 April 2024, upon his attaining the age of 75. Powered by Capital Market - Live News

Elgi Equipments has signed a technical licensing agreement with D.V.P. Vacuum Technology S.P.A., (DVP) Italy, on 15 February 2024, to acquire from DVP the know-how, technical information and assistance to assemble, manufacture and sell the �Vacuum Products� in India, and outside India at relevant time with consent of DVP. DVP provides an exclusive, non-transferable right to the Company to manufacture and sell the Vacuum Products in India. Vacuum Products comprise of oil-free and oil-lubricated rotary vane type Vacuum Pumps with possibility to add other types in due course, with mutual consent.Powered by Capital Market - Live News

Net profit of Elgi Equipments rose 4.77% to Rs 83.88 crore in the quarter ended December 2023 as against Rs 80.06 crore during the previous quarter ended December 2022. Sales rose 6.39% to Rs 821.83 crore in the quarter ended December 2023 as against Rs 772.44 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales821.83772.44 6 OPM %15.7514.68 - PBDT133.80124.91 7 PBT114.32105.18 9 NP83.8880.06 5 Powered by Capital Market - Live News

The Board of Elgi Equipment at its meeting held on 12 February 2024 has approved the Voluntary Retirement Scheme (VRS) for eligible employees of the Company. The Company believes that the implementation of the VRS will be beneficial to the Company in the long term. The scheme will be implemented with effect from today until 11 April 2024, and the financial impact thereof is expected to be Rs. 2.5 crores (approximately). Powered by Capital Market - Live News

Elgi Equipments will hold a meeting of the Board of Directors of the Company on 12 February 2024.Powered by Capital Market - Live News