Eppeltone Engineers Ltd
Founded in 1977, Eppeltone Engineers Limited specializes in manufacturing electronic energy meters, including smart meters, alongside various power conditioning devices.[1]
- Market Cap ₹ 142 Cr.
- Current Price ₹ 110
- High / Low ₹ 268 / 98.0
- Stock P/E 10.6
- Book Value ₹ 65.3
- Dividend Yield 0.00 %
- ROCE 32.0 %
- ROE 34.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.8%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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 Electrical Equipment Other Electrical Equipment
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 38 | 82 | 73 | 78 | 124 | 120 | |
| 36 | 81 | 70 | 65 | 106 | 101 | |
| Operating Profit | 2 | 2 | 3 | 13 | 18 | 19 |
| OPM % | 5% | 2% | 4% | 17% | 14% | 16% |
| 1 | 0 | 0 | 2 | 1 | 1 | |
| Interest | 1 | 1 | 1 | 2 | 3 | 2 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 1 | 0 | 2 | 12 | 15 | 17 |
| Tax % | -18% | 36% | 28% | 22% | 29% | |
| 1 | 0 | 1 | 9 | 11 | 13 | |
| EPS in Rs | 2.73 | 0.60 | 2.73 | 21.50 | 11.51 | 12.39 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| TTM: | 58% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 256% |
| TTM: | 19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 35% |
| Last Year: | 34% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 10 | 13 |
| Reserves | 6 | 6 | 8 | 20 | 30 | 72 |
| 11 | 11 | 13 | 16 | 31 | 30 | |
| 17 | 12 | 20 | 30 | 53 | 55 | |
| Total Liabilities | 39 | 34 | 44 | 70 | 124 | 170 |
| 7 | 8 | 9 | 13 | 20 | 33 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 32 | 26 | 35 | 57 | 104 | 136 | |
| Total Assets | 39 | 34 | 44 | 70 | 124 | 170 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 1 | 2 | 0 | 3 | -8 | |
| -1 | -2 | -1 | -5 | -8 | |
| 0 | -1 | 1 | 6 | 15 | |
| Net Cash Flow | -0 | -0 | 0 | 4 | -1 |
| Free Cash Flow | -0 | 1 | -1 | -2 | -17 |
| CFO/OP | 75% | 171% | 21% | 35% | -27% |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 179 | 36 | 83 | 127 | 80 |
| Inventory Days | 93 | 56 | 68 | 104 | 205 |
| Days Payable | 193 | 38 | 93 | 171 | 206 |
| Cash Conversion Cycle | 79 | 54 | 58 | 60 | 79 |
| Working Capital Days | 75 | 30 | 34 | 47 | 54 |
| ROCE % | 6% | 11% | 43% | 32% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2027 (P) | |
|---|---|---|---|---|---|
| Employee Attrition Rate % |
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| Bids Submitted INR Million |
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| Closing Order Book INR Million |
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| Installed Capacity - Single Phase Meter Units |
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| Installed Capacity - Three Phase Meter Units |
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| Production Volume - Energy Meters Units |
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| Capacity Utilization - Single Phase Meter % |
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| Capacity Utilization - Three Phase Meter % |
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| Production Volume - Single Phase Meter Units |
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| Production Volume - Three Phase Meter Units |
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Documents
Announcements
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Press Release
1 April 2026 - Eppeltone Engineers Limited has informed regarding a press release dated April 01, 2026, titled "Business Update-April 2026".
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Bagging/Receiving of orders/contracts
31 March 2026 - Government order (31-Mar-2026) for three-phase 10-60A meters; Rs.1,02,52,812.90; delivery in seven months.
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Trading Window
23 March 2026 - Trading window closed Apr 1, 2026 until 48 hours after board meeting for FY2026 results.
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Credit Rating- New
5 March 2026 - Infomerics upgraded long-term to IVR BBB-/Stable and short-term to IVR A3; facilities increased to Rs92.97 crore on Mar 5, 2026.
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General Updates
31 January 2026 - Jan 31, 2026: Board withdrew preferential issue of up to 1,500,000 warrants and 300,000 equity shares.
Annual reports
Concalls
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Nov 2025Transcript PPT
Business Profile[1]
Eppeltone Engineers is engaged in the design, manufacturing, and supply of electronic energy meters, smart meters, and various power conditioning devices. The company primarily operates in the B2B segment, supplying to state electricity boards, central PSUs, DISCOMs, and turnkey contractors.
Their product line includes static watt-hour meters, smart meters, water meters, battery chargers, UPS systems, LED luminaires, BPL kits, IoT-enabled monitoring devices, etc. The company also offers services for data analysis, monitoring systems, rural power distribution franchise support, and smart grid enablement.[2]
Product Portfolio
a) Energy Meters:[2]
Single-phase & three-phase static meters
Smart meters (BIS 16444 compliant)
Trivector and multifunction meters
Solar meters
Industrial meters
b) Power Conditioning Equipment:[3]
High-grade UPS systems
Battery management systems and chargers