Coimbatore, August 29: Leading air compressor manufacturer Elgi Equipments Limited has received an additional tax refund of $1.55 million (about Rs.13 crore) from the US Customs and Border Protection. This comes as a follow up to a $2.68 million refund received in July 2026, taking the total refund from the US authorities to $4.23 million after the company received a favourable US Supreme Court ruling to refund tariffs on imported industrial goods.
For the company, this income would be considered an exceptional income gain, expanding its operating cash flows and reinforcing its balance sheet. With this development, the Coimbatore-based company can support its newly operational fulfillment and distribution centers across North America without worrying about tariffs.
The company has recently announced a new Global Fulfillment Center in Coimbatore, with plans to launch the same by mid September. It is aimed at enhancing order fulfillment efficiency for the global markets, improving automation and technology driven logistics, besides streamlining the company’s expanding global presence.
Elgi Equipments has been a favourite amongst investors lately, with its shares rising almost 33% in the last one year, and this development is expected to boost sentiments further. The company has strong organic growth, including from North America, as seen with their stellar 37% year on year revenue growth in Q1 FY27.
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