Elecon Engineering Company Ltd
Elecon Engineering Company Ltd., incorporated in 1960. Company manufactures and sells power transmission and material handling equipment in India and internationally. In addition, it engages in the steel and non-ferrous foundry business. [1]
- Market Cap ₹ 8,711 Cr.
- Current Price ₹ 388
- High / Low ₹ 717 / 348
- Stock P/E 23.4
- Book Value ₹ 85.8
- Dividend Yield 0.52 %
- ROCE 29.1 %
- ROE 22.6 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 36.2% CAGR over last 5 years
Cons
- Earnings include an other income of Rs.226 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 501 | 503 | 980 | 923 | 911 | 955 | 836 | 796 | 893 | 1,197 | 1,600 | 1,871 | 2,073 | |
| 401 | 397 | 825 | 757 | 801 | 841 | 729 | 651 | 703 | 914 | 1,186 | 1,407 | 1,569 | |
| Operating Profit | 100 | 106 | 154 | 166 | 110 | 114 | 107 | 145 | 190 | 283 | 414 | 464 | 504 |
| OPM % | 20% | 21% | 16% | 18% | 12% | 12% | 13% | 18% | 21% | 24% | 26% | 25% | 24% |
| 18 | 23 | 27 | 8 | 11 | 22 | 8 | 11 | 5 | 15 | 40 | 53 | 226 | |
| Interest | 33 | 30 | 71 | 73 | 68 | 65 | 70 | 55 | 33 | 12 | 6 | 10 | 22 |
| Depreciation | 45 | 52 | 56 | 48 | 48 | 44 | 44 | 42 | 38 | 39 | 41 | 51 | 84 |
| Profit before tax | 39 | 48 | 56 | 52 | 5 | 28 | 1 | 58 | 124 | 246 | 406 | 456 | 624 |
| Tax % | 30% | 30% | 34% | 60% | -59% | 57% | -5,558% | 38% | 23% | 24% | 25% | 25% | |
| 27 | 33 | 37 | 21 | 8 | 12 | 72 | 36 | 96 | 188 | 303 | 340 | 505 | |
| EPS in Rs | 1.26 | 1.52 | 1.68 | 0.94 | 0.36 | 0.54 | 3.23 | 1.62 | 4.26 | 8.38 | 13.51 | 15.15 | 22.52 |
| Dividend Payout % | 40% | 36% | 33% | 27% | 28% | 19% | 0% | 12% | 16% | 12% | 11% | 13% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 17% |
| 3 Years: | 28% |
| TTM: | 26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 28% |
| 5 Years: | 36% |
| 3 Years: | 51% |
| TTM: | 24% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 30% |
| 5 Years: | 63% |
| 3 Years: | 26% |
| 1 Year: | -14% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 18% |
| 3 Years: | 22% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves | 470 | 489 | 702 | 707 | 708 | 718 | 760 | 797 | 885 | 1,057 | 1,325 | 1,631 | 1,904 |
| 259 | 249 | 568 | 461 | 497 | 474 | 391 | 253 | 117 | 20 | 43 | 151 | 229 | |
| 312 | 296 | 684 | 669 | 727 | 733 | 664 | 630 | 411 | 316 | 369 | 493 | 433 | |
| Total Liabilities | 1,062 | 1,056 | 1,976 | 1,859 | 1,955 | 1,947 | 1,836 | 1,702 | 1,435 | 1,416 | 1,760 | 2,297 | 2,588 |
| 374 | 334 | 789 | 759 | 716 | 680 | 654 | 614 | 588 | 606 | 623 | 762 | 846 | |
| CWIP | 7 | 2 | 8 | 2 | 1 | 5 | 0 | 0 | 0 | 0 | 1 | 7 | 26 |
| Investments | 37 | 199 | 113 | 128 | 160 | 160 | 119 | 119 | 119 | 138 | 342 | 544 | 800 |
| 645 | 521 | 1,066 | 970 | 1,077 | 1,102 | 1,063 | 969 | 729 | 672 | 794 | 985 | 916 | |
| Total Assets | 1,062 | 1,056 | 1,976 | 1,859 | 1,955 | 1,947 | 1,836 | 1,702 | 1,435 | 1,416 | 1,760 | 2,297 | 2,588 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23 | 218 | 13 | 196 | 106 | 71 | 170 | 220 | 178 | 294 | 235 | 279 | |
| -0 | -167 | -16 | -26 | -65 | 14 | -13 | -16 | -4 | -144 | -185 | -159 | |
| -25 | -52 | 17 | -185 | -38 | -89 | -156 | -193 | -175 | -140 | -47 | -55 | |
| Net Cash Flow | -3 | -1 | 14 | -15 | 4 | -5 | 2 | 11 | -2 | 10 | 3 | 65 |
| Free Cash Flow | 16 | 211 | -7 | 187 | 95 | 58 | 158 | 217 | 161 | 250 | 211 | 216 |
| CFO/OP | 31% | 218% | 28% | 121% | 95% | 64% | 162% | 151% | 109% | 127% | 81% | 86% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 123 | 164 | 246 | 232 | 250 | 209 | 244 | 214 | 155 | 91 | 93 | 112 |
| Inventory Days | 199 | 208 | 222 | 221 | 182 | 205 | 220 | 177 | 158 | 117 | 79 | 68 |
| Days Payable | 343 | 333 | 344 | 344 | 336 | 294 | 441 | 363 | 187 | 101 | 83 | 94 |
| Cash Conversion Cycle | -21 | 39 | 124 | 109 | 96 | 120 | 23 | 28 | 125 | 107 | 89 | 85 |
| Working Capital Days | 98 | 59 | -17 | -20 | -2 | 55 | 48 | 73 | 74 | 69 | 69 | 62 |
| ROCE % | 10% | 9% | 10% | 10% | 6% | 8% | 6% | 10% | 15% | 24% | 33% | 29% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Consolidated Order Book (Open Orders) INR Crores |
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| Consolidated Order Intake INR Crores |
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| Domestic Organized Gear Market Share % |
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| Gear Segment Order Intake INR Crores |
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| Gear Manufacturing Capacity (Standard Unit) Gearboxes per Month |
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| MHE Segment Order Intake INR Crores |
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| Total Manufacturing Area (India) Square Meters |
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| Global Manufacturing/Assembly Centers Number |
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Documents
Announcements
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Intimation Of Action Taken Or Order Passed By Regulatory, Statutory, Enforcement Authority Or Judicial Body
2d - Paid ₹11,98,800 penalty to Dy. Commissioner (Surat) for GST vehicle detention; will appeal for refund.
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Board Meeting Intimation for Audited Financial Results For The Quarter And Financial Year Ended On 31St March, 2026 And Declaration Of Final Dividend, If Any.
2d - Trading window closed from 1 Apr; Board meeting 15 Apr to approve audited results for FY ended 31 Mar 2026.
- Closure of Trading Window 2d
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Intimation For Incorporation Of Grupo Radicon SA De CV, Step-Down Subsidiary Of The Company.
26 Mar - Elecon's step-down subsidiary Grupo Radicon SA de CV incorporated (8 Jan 2026); MXN 100,000 capital; tax ID 24 Mar 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10 Mar - Of Investor meet details as per attached letter.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
Concalls
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Jan 2026Transcript PPT REC
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Oct 2025Transcript PPT REC
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Jul 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Jan 2025Transcript PPT
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Oct 2024Transcript PPT
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Jul 2024Transcript PPT REC
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Apr 2024Transcript PPT REC
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Feb 2024Transcript PPT REC
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Oct 2023Transcript PPT REC
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Jul 2023Transcript PPT REC
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Jul 2023TranscriptAI SummaryPPT
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May 2023Transcript PPT
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Apr 2023TranscriptAI SummaryPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Jul 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021TranscriptPPT
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Aug 2021Transcript PPT
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Jun 2021TranscriptPPT
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Jun 2021TranscriptPPT
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Oct 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Apr 2019TranscriptPPT
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Oct 2018TranscriptPPT
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May 2018TranscriptPPT
Business Divisions
a) Gear Division:[1]
- Product Portfolio: Helical/Bevel Helical Gearboxes, Worm Gearboxes, Couplings, Planetary Gearboxes, Marine Gearboxes, Custom Built Gearboxes, EON2 Series Gearboxes, High-Speed Gearboxes, Central Drive Mill Gearboxes, Pinion Shaft, Double Helical Gear Wheels, Loose Gears
- Product Applications: It serves industries like Power, Cement, Sugar, Steel, etc.
- Clientele: [2] Hayley, Brith Steel, Adani, TATA Steel, NTPC, BHEL, Indian Cane Powers Ltd, Dalmia Bharath Group, United Utilities, etc.