Elecon Engineering Company Ltd
Elecon Engineering Company Ltd., incorporated in 1960, is involved in the design and manufacturing of Material Handling Equipment and Industrial Gears and also providing construction and commissioning solutions for its products.
In 2010, It also ventured into the manufacturing of custom made Gearboxes for Steel Mills, High-Speed Turbines, Satellites for ISRO and also for the Naval Aircraft carriers through the acquisition of Benzlers- Radicon Group belonging to the David Brown Gear Systems. [1] [2]
- Market Cap ₹ 4,182 Cr.
- Current Price ₹ 373
- High / Low ₹ 476 / 128
- Stock P/E 19.4
- Book Value ₹ 101
- Dividend Yield 0.27 %
- ROCE 17.4 %
- ROE 14.6 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 69.0% CAGR over last 5 years
- Debtor days have improved from 170 to 126 days.
Cons
- Stock is trading at 3.78 times its book value
- The company has delivered a poor sales growth of 0.03% over past five years.
- Company has a low return on equity of 10.9% over last 3 years.
* 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
Sector: Capital Goods-Non Electrical Equipment Industry: Engineering
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,284 | 1,613 | 1,527 | 1,293 | 1,329 | 1,280 | 1,202 | 1,180 | 1,225 | 1,088 | 1,044 | 1,204 | 1,437 | |
1,110 | 1,400 | 1,310 | 1,136 | 1,153 | 1,105 | 1,027 | 1,055 | 1,084 | 947 | 858 | 952 | 1,121 | |
Operating Profit | 175 | 213 | 216 | 157 | 176 | 176 | 175 | 126 | 140 | 142 | 186 | 252 | 316 |
OPM % | 14% | 13% | 14% | 12% | 13% | 14% | 15% | 11% | 11% | 13% | 18% | 21% | 22% |
50 | 11 | -19 | 14 | 17 | 29 | 12 | 8 | 69 | 9 | 8 | 5 | 17 | |
Interest | 60 | 72 | 90 | 80 | 87 | 83 | 90 | 75 | 74 | 78 | 60 | 38 | 16 |
Depreciation | 42 | 49 | 57 | 62 | 72 | 62 | 53 | 53 | 48 | 53 | 52 | 49 | 47 |
Profit before tax | 123 | 103 | 50 | 29 | 34 | 60 | 44 | 6 | 88 | 20 | 81 | 171 | 270 |
Tax % | 28% | 41% | 41% | 51% | 49% | 37% | 75% | -33% | 21% | -360% | 29% | 18% | |
Net Profit | 90 | 61 | 29 | 14 | 17 | 37 | 11 | 7 | 70 | 90 | 58 | 140 | 216 |
EPS in Rs | 9.69 | 6.58 | 1.93 | 1.26 | 1.50 | 3.43 | 0.96 | 0.67 | 6.25 | 7.99 | 5.14 | 12.52 | 19.24 |
Dividend Payout % | 19% | 28% | 52% | 79% | 73% | 32% | 52% | 30% | 3% | -0% | 8% | 11% |
Compounded Sales Growth | |
---|---|
10 Years: | -3% |
5 Years: | 0% |
3 Years: | -1% |
TTM: | 17% |
Compounded Profit Growth | |
---|---|
10 Years: | 9% |
5 Years: | 69% |
3 Years: | 54% |
TTM: | 72% |
Stock Price CAGR | |
---|---|
10 Years: | 25% |
5 Years: | 36% |
3 Years: | 115% |
1 Year: | 111% |
Return on Equity | |
---|---|
10 Years: | 6% |
5 Years: | 8% |
3 Years: | 11% |
Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
19 | 19 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | |
Reserves | 400 | 440 | 516 | 510 | 514 | 682 | 687 | 686 | 746 | 832 | 897 | 1,028 | 1,110 |
648 | 665 | 697 | 633 | 552 | 629 | 583 | 590 | 548 | 483 | 335 | 151 | 57 | |
630 | 796 | 892 | 892 | 877 | 870 | 794 | 857 | 849 | 792 | 733 | 513 | 434 | |
Total Liabilities | 1,697 | 1,920 | 2,123 | 2,058 | 1,964 | 2,203 | 2,087 | 2,156 | 2,165 | 2,129 | 1,988 | 1,715 | 1,622 |
479 | 531 | 625 | 595 | 523 | 898 | 861 | 834 | 799 | 799 | 758 | 739 | 728 | |
CWIP | 11 | 42 | 10 | 7 | 4 | 8 | 2 | 1 | 5 | 0 | 0 | 1 | 8 |
Investments | 4 | 14 | 13 | 14 | 15 | 49 | 49 | 51 | 54 | 53 | 53 | 54 | 55 |
1,203 | 1,333 | 1,475 | 1,441 | 1,422 | 1,248 | 1,175 | 1,270 | 1,307 | 1,277 | 1,176 | 921 | 832 | |
Total Assets | 1,697 | 1,920 | 2,123 | 2,058 | 1,964 | 2,203 | 2,087 | 2,156 | 2,165 | 2,129 | 1,988 | 1,715 | 1,622 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
96 | 216 | 176 | 160 | 177 | 12 | 188 | 70 | 87 | 222 | 248 | 250 | |
-163 | -138 | -98 | -30 | 0 | 7 | -7 | -51 | 40 | -25 | -19 | -12 | |
55 | -86 | -65 | -140 | -168 | -5 | -134 | -64 | -118 | -176 | -210 | -250 | |
Net Cash Flow | -12 | -8 | 13 | -9 | 9 | 14 | 47 | -44 | 9 | 21 | 19 | -12 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 171 | 177 | 200 | 241 | 236 | 201 | 191 | 208 | 177 | 205 | 177 | 126 |
Inventory Days | 191 | 140 | 178 | 209 | 187 | 218 | 203 | 189 | 206 | 222 | 188 | 167 |
Days Payable | 184 | 198 | 244 | 289 | 278 | 331 | 326 | 295 | 259 | 376 | 319 | 173 |
Cash Conversion Cycle | 177 | 120 | 134 | 161 | 145 | 88 | 69 | 102 | 124 | 51 | 46 | 120 |
Working Capital Days | 154 | 104 | 153 | 170 | 159 | 102 | 84 | 112 | 134 | 128 | 105 | 101 |
ROCE % | 16% | 14% | 9% | 10% | 10% | 10% | 6% | 10% | 7% | 11% | 17% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - With reference to the Regulation 30 of SEBI (LODR) Regulations, 2015 and in continuation of our letter dated 25th January, 2023 regarding schedule of Investor …
-
Announcement under Regulation 30 (LODR)-Investor Presentation
30 Jan - With reference to the Regulation 30 of SEBI (LODR) Regulations, 2015 and in continuation of our letter dated 25th January, 2023 regarding schedule of Investor …
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
25 Jan - The Company will hold its Investors Call on Monday, 30th January, 2023 at 11:00 a.m. The Management of the Company will host the call to …
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 25 Jan
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
25 Jan - The Extract of Unaudited Financial Results for the quarter and nine months ended on 31st December, 2022 has been published in The Business Standard Newspaper …
Annual reports
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from nse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2012
from nse
-
Financial Year 2011
from bse
-
Financial Year 2011
from nse
-
Financial Year 2010
from nse
-
Financial Year 2010
from bse
Concalls
-
Jan 2023TranscriptPPT
-
Nov 2022Transcript PPT
-
Jul 2022Transcript PPT
-
May 2022Transcript PPT
-
Feb 2022Transcript PPT
-
Nov 2021Transcript PPT
-
Aug 2021TranscriptPPT
-
Aug 2021Transcript PPT
-
Jun 2021TranscriptPPT
-
Jun 2021TranscriptPPT
-
Oct 2020TranscriptPPT
-
Oct 2019TranscriptPPT
-
Apr 2019TranscriptPPT
-
Oct 2018TranscriptPPT
-
May 2018TranscriptPPT
Products and Services
Power Transmission (89%): The company was the first to introduce modular design concept, case-hardened and ground gear technology in India. [1]
Material Handling Equipment Solutions (11%): The company has today expanded its production to cater to diverse material handling requirements of multiple industries including steel, power, marine, chemical, cement, coal, etc. [2]
Foundry Division: It caters to machining and foundry needs of Elecon Engineering, providing casting and machining services to several other companies other than Elecon group. [3]
Only Company in India having capability to manufacture complex Gear box for Defence - Indian Navy[4]