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 ₹ 93.7 Cr.
- Current Price ₹ 52.2
- High / Low ₹ 114 / 34.8
- Stock P/E 7.39
- 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 0.98 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% | 4.4% | 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: | -47% |
| 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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Copy of Newspaper Publication
- Newspaper ads published for Classic Electrodes' 29th AGM notice, e-voting details and cut-off date.
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Shareholders meeting
- 29th AGM on 28 Sept 2026; approves financials, director appointment, cost auditor, and ₹50 crore related-party transactions.
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Outcome of Board Meeting
- Board approved cost auditor, annual report, and AGM on 28 September 2026.
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Updates
- NSE sought share price movement clarification; company said no material event occurred.
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Price movement
- Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …
Concalls
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May 2026Transcript PPT
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Nov 2025Transcript
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.