Elofic Industries, one of India's largest filter manufacturing companies producing a complete range of filters and lubricants, has come up with its annual results. The Faridabad-based auto ancillary has reported a sharp growth of 71.6% in the net profit to Rs 30.96 crore in the financial year ended on March 31, 2021. The company had reported a net profit or profit after tax (PAT) of Rs 18.04 crore in the previous year. The company reported an income of operations soared 21.97% to Rs 266.61 crore during the year ended on March 31, 2021, from Rs 218.58 crore in the previous year. Incorporated in 1973, Elofic Industries boasts a strong domestic and international clientage, which are the most trusted brands and pioneers in their industries. Among the domestic clients, the company has Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Volvo Eicher Commercial Vehicles, Renault Nissan Mitsubishi Alliance (India), JCB India, Bosch, Action Construction, VST Tillers and Escorts on the board. Among the global and international clients, the company exports to Agro Tractors and Lombardini in Italy; Wabco in Germany; and Kohler Engines, Kawasaki Motors, Briggs and Stratton, and Generac Power Systems in the United States. However, the total expenses of the company jumped 14.29% to Rs 226.04 crore from Rs 197.77 crore during the period under review. The company reported a 72.31% growth in the profit before tax (PBT) to Rs 42.27 crore in FY 2020-21, compared to Rs 24.53 crore in FY 2019-20.

Being one of India’s largest OEM suppliers, Elofic has a responsibility to deliver the best quality and high performance-driven products to its wide diversity of clientele perpetually. With an annual production capacity of over 85 million filters presently, it envisions to excel and manufacture 200 million units by 2020. The company has reported earning per share (EPS) of 123.44 in the financial year 2020-21, which was 71.92 in the FY 2019-20. Elofic provides a complete range of filters and lubricants. The company marks its presence in multiple states of India with half a dozen manufacturing facilities in Faridabad (Haryana), Nalagarh (Himachal Pradesh), and Hosur (Tamil Nadu). Promoters of Elofic, Mohan Bir Sahni and Kanwal Deep Sahni, owe over 58% stake in the company. It has a wholly-owned subsidiary in the United States named Elofic USA, LLC.