Classic Electrodes (India) Ltd
Established in 1997, Classic Electrodes (India) Limited is a prominent Indian manufacturer specialising in welding consumables, including electrodes and MIG wires.[1]
- Market Cap ₹ 84.4 Cr.
- Current Price ₹ 47.0
- High / Low ₹ 114 / 34.8
- Stock P/E 6.66
- Book Value ₹ 53.0
- Dividend Yield 0.00 %
- ROCE 19.3 %
- ROE 18.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.89 times its book value
- Company has delivered good profit growth of 59.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.6%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -1.42%
- Working capital days have increased from 56.9 days to 84.9 days
* 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.
Peer comparison
Industrials Capital Goods Industrial Products Other Industrial Products
Part of Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 11m | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 83 | 90 | 134 | 151 | 194 | 188 | 206 | 243 | |
| 78 | 85 | 128 | 142 | 173 | 168 | 184 | 220 | |
| Operating Profit | 6 | 5 | 6 | 8 | 21 | 19 | 22 | 23 |
| OPM % | 7% | 5% | 4% | 6% | 11% | 10% | 11% | 9% |
| 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Interest | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 4 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 |
| Profit before tax | 2 | 2 | 2 | 3 | 15 | 13 | 15 | 17 |
| Tax % | 25% | 25% | 27% | 25% | 34% | 26% | 22% | 26% |
| 2 | 1 | 1 | 2 | 10 | 10 | 12 | 13 | |
| EPS in Rs | 3.35 | 2.33 | 2.75 | 3.94 | 18.11 | 7.25 | 8.81 | 7.04 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 17% |
| TTM: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 59% |
| 3 Years: | 83% |
| TTM: | 9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 26% |
| Last Year: | 18% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 13 | 13 | 18 |
| Reserves | 14 | 15 | 14 | 16 | 28 | 30 | 32 | 77 |
| 9 | 19 | 39 | 43 | 46 | 54 | 54 | 20 | |
| 26 | 21 | 16 | 12 | 13 | 19 | 16 | 19 | |
| Total Liabilities | 54 | 60 | 75 | 77 | 92 | 116 | 115 | 134 |
| 12 | 15 | 13 | 17 | 16 | 17 | 17 | 31 | |
| CWIP | 0 | 0 | 4 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| 41 | 44 | 58 | 60 | 76 | 99 | 98 | 101 | |
| Total Assets | 54 | 60 | 75 | 77 | 92 | 116 | 115 | 134 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 3 | -4 | 8 | 2 | 3 | 1 | 8 | 19 | |
| -1 | -4 | -4 | -2 | -1 | -3 | -11 | -15 | |
| -1 | 8 | -4 | 0 | -2 | 2 | 4 | -1 | |
| Net Cash Flow | 0 | 0 | -0 | 0 | -0 | 0 | -0 | 3 |
| Free Cash Flow | 1 | -8 | 3 | -0 | 2 | -2 | 4 | 2 |
| CFO/OP | 53% | -72% | 139% | 25% | 18% | 16% | 52% | 81% |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 102 | 83 | 75 | 80 | 64 | 96 | 75 | 72 |
| Inventory Days | 54 | 85 | 67 | 58 | 75 | 91 | 86 | 69 |
| Days Payable | 34 | 13 | 33 | 16 | 12 | 33 | 19 | 18 |
| Cash Conversion Cycle | 122 | 155 | 109 | 122 | 127 | 154 | 142 | 122 |
| Working Capital Days | 37 | 77 | 14 | 15 | 35 | 50 | 50 | 85 |
| ROCE % | 12% | 10% | 10% | 29% | 22% | 22% | 19% |
Insights
In beta| Mar 2024 | Sep 2025 | |
|---|---|---|
| Manufacturing Segment Revenue Mix % |
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| Trading Segment Revenue Mix % |
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| Aggregate Capacity Utilization % |
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| Capacity Utilization - Flux-Cored Wire (Initial Phase) % |
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| Installed Capacity - Electrodes (Unit 1, Howrah) MT |
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| Installed Capacity - Flux-Cored Wire MT per annum |
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| Installed Capacity - MIG Wires (Unit 1, Howrah) MT |
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| Installed Capacity - MIG Wires (Unit 2, Jhajjar) MT |
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| Work Order Value - Srinchal Fabricators INR |
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Extracted by Screener AI
Documents
Announcements
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Disclosure under SEBI Takeover Regulations
5 June 2026 - 8 Apr 2026 annual SAST disclosure: promoters confirm no new share encumbrance.
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General Updates
28 May 2026 - Classic Electrodes updated its CIN to L27320WB1997PLC085600 after object clause alteration.
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Analysts/Institutional Investor Meet/Con. Call Updates
26 May 2026 - Uploaded H2 FY26 earnings call transcript; FY26 standalone income ₹244.21 crore, net profit ₹12.64 crore.
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Analysts/Institutional Investor Meet/Con. Call Updates
21 May 2026 - Outcome and audio recording of 21 May 2026 earnings call on audited H1 and FY2026 results.
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Investor Presentation
21 May 2026 - Company uploaded H2/FY26 investor presentation; revenue ₹121.18 crore, PAT ₹6.20 crore.
Annual reports
Concalls
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May 2026Transcript PPT
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Nov 2025TranscriptPPT
Business Profile[1]
The company is a leading manufacturer of welding electrodes and MIG wires, primarily serving the domestic market, and holds ISO-9001 certification and BIS licenses, with a prior registration under DGS&D.