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 ₹ 104 Cr.
- Current Price ₹ 58.2
- High / Low ₹ 114 / 34.8
- Stock P/E 8.24
- 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 1.10 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 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Capacity Utilization - Electrodes (West Bengal) % |
|
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| Capacity Utilization - MIG Wire (West Bengal) % |
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| Installed Capacity - Electrodes (West Bengal) MT |
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| Installed Capacity - MIG Wire (West Bengal) MT |
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| Production Volume - Electrodes (West Bengal) MT |
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| Production Volume - MIG Wire (West Bengal) MT |
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| Manufacturing Revenue Mix % |
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Extracted by Screener AI
Documents
Announcements
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
14 July 2026 - Company filed Regulation 74(5) certificate for quarter ended 30 June 2026; all securities dematerialized.
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Reply to Clarification- Financial results
8 July 2026 - Company clarifies financial results were duly signed and segment reporting is inapplicable.
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Appointment
1 July 2026 - Board appointed Mrs. Komal Agarwal as Additional Non-Executive Non-Independent Director effective July 1, 2026.
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Clarification - Financial Results
16 June 2026 - Exchange has sought clarification from Classic Electrodes (India) Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. …
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Disclosure under SEBI Takeover Regulations
5 June 2026 - 8 Apr 2026 annual SAST disclosure: promoters confirm no new share encumbrance.
Annual reports
Concalls
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May 2026Transcript PPT
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Nov 2025TranscriptPPT
Business Overview:[1]
CEIL is engaged in the business of manufacturing welding electrodes and providing engineering solutions to customers spread across various sectors. It holds ISO-9001 certification and BIS licenses, with a prior registration under DGS&D.