• Revenue growth outlook: Following 23% growth in Q1 aided by a weak base, ELGI expects low single-digit growth for the remainder of the year, with potential to reach mid-single digits if West Asian geopolitical tensions ease.
• Gross margin recovery: Material cost inflation in steel, aluminum, and copper impacted Q1 margins, but lagged price adjustments are expected to drive a margin recovery late in Q2 and into Q3.
• International market performance: North America continues to grow strongly due to US manufacturing insourcing, Australia is undergoing service corrections to rebound in H2, and Europe is focused on cost consolidation before returning to growth next year.
• Capex and expansion: The company plans to invest around ₹150 crore this year for regular capex and its ongoing ₹600 crore new campus development, which is aimed at addressing factory space constraints for the long term.