Elecon Engineering Company Ltd

Elecon Engineering Company Ltd

₹ 1,164 1.54%
27 May - close price
About

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]

Key Points

Products and Services 9MFY24[1]
Power Transmission (87%): The company was the first to introduce modular design concepts, case-hardened, and ground gear technology in India. [2]

  • Market Cap 13,056 Cr.
  • Current Price 1,164
  • High / Low 1,245 / 518
  • Stock P/E 36.7
  • Book Value 143
  • Dividend Yield 0.17 %
  • ROCE 31.6 %
  • ROE 24.7 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 55.4% CAGR over last 5 years

Cons

  • Stock is trading at 8.14 times its book value

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
350 294 314 271 332 328 389 389 425 414 485 474 565
277 235 247 219 263 263 296 300 332 314 366 353 429
Operating Profit 74 59 67 52 69 65 93 89 93 100 119 120 135
OPM % 21% 20% 21% 19% 21% 20% 24% 23% 22% 24% 24% 25% 24%
1 2 2 2 4 4 5 4 9 9 14 11 16
Interest 14 14 12 5 7 4 3 2 5 2 3 1 2
Depreciation 13 12 12 12 12 11 12 12 14 12 13 13 13
Profit before tax 47 35 44 37 54 54 83 79 84 94 117 117 136
Tax % 33% 22% 20% 15% 14% 21% 22% 20% 19% 23% 24% 23% 24%
32 27 35 32 46 42 65 63 68 73 89 90 104
EPS in Rs 2.82 2.43 3.15 2.81 4.13 3.77 5.80 5.59 6.06 6.50 7.89 8.06 9.24
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,527 1,293 1,329 1,280 1,202 1,180 1,225 1,088 1,044 1,212 1,530 1,937
1,310 1,136 1,153 1,105 1,027 1,055 1,084 947 858 960 1,189 1,463
Operating Profit 216 157 176 176 175 126 140 142 186 252 341 474
OPM % 14% 12% 13% 14% 15% 11% 11% 13% 18% 21% 22% 24%
-19 14 17 29 12 8 69 9 8 5 22 50
Interest 90 80 87 83 90 75 74 78 60 38 14 9
Depreciation 57 62 72 62 53 53 48 53 52 49 49 51
Profit before tax 50 29 34 60 44 6 88 20 81 171 300 465
Tax % 41% 51% 49% 37% 75% -33% 21% -360% 29% 18% 21% 24%
29 14 17 37 11 7 70 90 58 140 237 356
EPS in Rs 1.93 1.26 1.50 3.43 0.96 0.67 6.25 7.99 5.14 12.52 21.17 31.69
Dividend Payout % 52% 79% 73% 32% 52% 30% 3% 0% 8% 11% 9% 6%
Compounded Sales Growth
10 Years: 4%
5 Years: 10%
3 Years: 23%
TTM: 27%
Compounded Profit Growth
10 Years: 39%
5 Years: 55%
3 Years: 83%
TTM: 49%
Stock Price CAGR
10 Years: 33%
5 Years: 85%
3 Years: 118%
1 Year: 116%
Return on Equity
10 Years: 11%
5 Years: 17%
3 Years: 21%
Last Year: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 19 22 22 22 22 22 22 22 22 22 22 22
Reserves 516 510 514 682 687 686 746 832 897 1,028 1,257 1,582
697 633 552 629 583 590 548 420 335 151 52 70
892 892 877 870 794 857 849 855 733 513 399 450
Total Liabilities 2,123 2,058 1,964 2,203 2,087 2,156 2,165 2,129 1,988 1,715 1,730 2,124
625 595 523 898 861 834 799 799 758 739 754 769
CWIP 10 7 4 8 2 1 5 0 0 1 0 1
Investments 13 14 15 49 49 51 54 53 53 54 77 286
1,475 1,441 1,422 1,248 1,175 1,270 1,307 1,277 1,176 921 899 1,068
Total Assets 2,123 2,058 1,964 2,203 2,087 2,156 2,165 2,129 1,988 1,715 1,730 2,124

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
176 160 177 12 188 70 87 222 248 223 310 365
-98 -30 0 7 -7 -51 40 -25 -19 15 -167 -279
-65 -140 -168 -5 -134 -64 -118 -176 -210 -250 -145 -59
Net Cash Flow 13 -9 9 14 47 -44 9 21 19 -12 -2 27

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 200 241 236 201 191 208 177 205 177 125 82 84
Inventory Days 178 209 187 218 203 189 206 248 188 167 142 97
Days Payable 244 289 278 331 326 295 259 420 319 173 109 82
Cash Conversion Cycle 134 161 145 88 69 102 124 33 46 119 116 99
Working Capital Days 153 170 159 102 84 112 134 124 118 101 76 107
ROCE % 14% 9% 10% 10% 10% 6% 10% 8% 11% 17% 25%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
59.20% 59.21% 59.21% 59.26% 59.26% 59.29% 59.29% 59.29% 59.29% 59.29% 59.29% 59.28%
0.79% 1.58% 1.71% 1.71% 2.14% 2.01% 1.95% 2.11% 2.81% 4.88% 5.96% 7.58%
2.28% 2.23% 1.84% 1.85% 1.84% 1.50% 1.79% 1.76% 2.02% 2.92% 2.64% 2.29%
0.25% 0.25% 0.25% 0.25% 0.25% 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
37.49% 36.73% 36.99% 36.93% 36.51% 37.15% 36.96% 36.84% 35.88% 32.90% 32.11% 30.84%
No. of Shareholders 50,85958,37360,40662,29258,68164,02263,34263,19265,22081,53987,81693,051

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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