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Elecon Engineering Company Ltd

₹ 392-1.04%
16 Jan 4:01 p.m. – close price
🔗elecon.com•BSE: 505700•NSE: ELECON
Market Cap₹ 8,793 Cr.
Current Price₹ 392
High / Low₹ 717
Stock P/E23.6
Book Value₹ 85.8
Dividend Yield0.51 %
ROCE29.1 %
ROE22.6 %
Face Value₹ 1.00
Sales₹ 2,073 Cr.
OPM24.3 %
Mar Cap₹ 8,793 Cr.

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

Business Segmenta) Gear Division:(72% of 9MFY25 revenue)[1]Elecon is one of Asia's largest Industrial Gear Manufacturers. The product portfolio includes Industrial gears, customized gearboxes (including for Indian Navy/defense), Worm gears, helical gears, and planetary gears.[2]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceRevenue GuidanceCapacity Expansion And ProductsOrder Book PositionCredit Rating UpdatesRed Flags And Poor PerformanceRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Siemens2920.8561.60103950.970.41485.40-7.145171.2016.0215.8317364.2011.561687.44484.907.867.460.01
2.A B B4880.0058.55103462.650.91409.04-7.173310.7213.6938.6513010.6516.561766.99408.8814.3716.040.01
3.B H E L265.55165.4292397.090.19374.89253.177511.8014.094.8729269.174.03558.54374.893.790.810.45
4.CG Power & Ind561.8582.8188476.830.23284.4429.762922.7921.1437.4811069.2912.971068.45286.7211.8614.530.02
5.Siemens Ener.Ind2327.0075.3282855.220.17359.60–2645.70–38.527826.7019.341100.10359.6018.9113.260.03
6.Hitachi Energy16225.35100.7172232.580.04264.36405.571832.5517.9419.446815.4012.60717.23264.3615.785.770.02
7.GE Vernova T&D2621.2572.9567101.510.19299.48107.081538.4638.8854.745094.7823.87919.85299.4832.1714.760.01
8.Elecon Engg.Co391.9023.588793.130.5161.89-32.71454.161.7629.132073.1624.32372.9661.894.5716.740.12
–Median: 37 Co.503.9544.366300.590.0546.3441.39454.1625.0528.091522.9113.99169.546.345.5812.290.14

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales
305304331324407383485293419446713410496454
Expenses
230233251238299282368221328320539288383359
Operating Profit
75717987108101118739112717412211395
Other Income
2496111310131113161741817
Profit before tax
65637481106102116748912416926910482
Tax %
27%24%20%25%26%25%25%25%25%26%26%11%24%25%
Net Profit
484859617976875567921252397962
EPS in Rs
2.122.152.652.713.523.403.872.462.994.105.5910.653.522.76

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
5015039809239119558367968931,1971,6001,8712,073
Expenses
4013978257578018417296517039141,1861,4071,569
Operating Profit
100106154166110114107145190283414464504
Other Income
182327811228115154053226
Interest
3330717368657055331261022
Depreciation
45525648484444423839415184
Profit before tax
39485652528158124246406456624
Net Profit
27333721812723696188303340505
EPS in Rs
1.261.521.680.940.360.543.231.624.268.3813.5115.1522.52
Dividend Payout %
40%36%33%27%28%19%0%12%16%12%11%13%–

Compounded Sales Growth

10 Years:14%
5 Years:17%
3 Years:28%
TTM:26%

Compounded Profit Growth

10 Years:28%
5 Years:36%
3 Years:51%
TTM:24%

Stock Price CAGR

10 Years:28%
5 Years:75%
3 Years:26%
1 Year:-34%

Return on Equity

10 Years:12%
5 Years:18%
3 Years:22%
Last Year:23%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
22222222222222222222222222
Reserves
4704897027077087187607978851,0571,3251,6311,904
Borrowings
2592495684614974743912531172043151229
Other Liabilities
312296684669727733664630411316369493433
Total Liabilities
1,0621,0561,9761,8591,9551,9471,8361,7021,4351,4161,7602,2972,588
Fixed Assets
374334789759716680654614588606623762846
Gross Block
627.85632.49873.88891.01895.02902.26907.95907.36862.57900.29954.371,138.35–
Accumulated Depreciation
254.01298.8684.87132.10178.85222.03254.25293.42274.63294.71331.42376.78–
CWIP
72821500001726
Investments
37199113128160160119119119138342544800
Other Assets
6455211,0669701,0771,1021,063969729672794985916
Total Assets
1,0621,0561,9761,8591,9551,9471,8361,7021,4351,4161,7602,2972,588

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
232181319610671170220178294235279
Cash from Investing Activity
-0-167-16-26-6514-13-16-4-144-185-159
Cash from Financing Activity
-25-5217-185-38-89-156-193-175-140-47-55
Net Cash Flow
-3-114-154-5211-210365

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
1231642462322502092442141559193112
Inventory Days
1992082222211822052201771581177968
Days Payable
3433333443443362944413631871018394
Cash Conversion Cycle
-21391241099612023281251078985
Working Capital Days
9859-17-20-255487374696962
ROCE %
10%9%10%10%6%8%6%10%15%24%33%29%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
59.29%59.29%59.29%59.29%59.29%59.28%59.28%59.28%59.28%59.28%59.28%59.28%59.28%
FIIs
1.95%2.11%2.81%4.88%5.96%7.58%9.10%9.84%9.73%8.65%9.61%8.31%8.09%
DIIs
1.79%1.76%2.02%2.92%2.64%2.29%2.55%2.97%3.67%4.39%3.80%4.13%4.48%
Public
36.96%36.84%35.88%32.90%32.11%30.84%29.07%27.91%27.30%27.65%27.28%28.25%28.11%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Elecon Engineering Pays ₹11.99 Lakh Penalty Under Dispute for GST Matter

31st March 2026, 10:56 pm

Elecon Engineering Board Meeting Scheduled for 15th April, 2026

31st March 2026, 7:20 pm

Elecon Engineering to hold Board Meeting on April 15 for FY26 Audited Results; Trading Window to Close from April 1

31st March 2026, 7:08 pm

Elecon Engineering Incorporates Mexican Subsidiary, Grupo Radicon SA de CV

27th March 2026, 12:05 am

Elecon Engineering to Meet Investors and Analysts on March 13, 2026

11th March 2026, 2:12 am

Published by Other Websites

External media mentions & references

Indian Stocks Plummet: 70% of Nifty 500 Fall in January 2026

14th January 2026, 2:05 pm

Elecon Engineering Faces Headwinds, Brokerage Firm Maintains Buy Call

12th January 2026, 6:25 pm

Indian Markets Plunge Fifth Day as US Tariff Fears Mount

9th January 2026, 4:14 pm

Elecon Engineering Shares Plunge 17% as Q3 Profit Crashes, CFO Exits

9th January 2026, 3:01 pm

Sensex, Nifty Plunge as US Tariff Ruling Looms; Adani, ICICI Hit

9th January 2026, 12:51 pm

News Articles

Editorial & research coverage

Indian Stocks Plummet: 70% of Nifty 500 Fall in January 2026
Indian Stocks Plummet: 70% of Nifty 500 Fall in January 2026

14th January 2026, 2:05 pm

Elecon Engineering Faces Headwinds, Brokerage Firm Maintains Buy Call
Elecon Engineering Faces Headwinds, Brokerage Firm Maintains Buy Call

12th January 2026, 6:25 pm

Market Movers: BHEL, Bajaj Finserv, Tata Motors CV in Focus Jan 9
Market Movers: BHEL, Bajaj Finserv, Tata Motors CV in Focus Jan 9

9th January 2026, 7:58 am

Elecon Engineering Profit Slips 33% Amid Margin Squeeze
Elecon Engineering Profit Slips 33% Amid Margin Squeeze

8th January 2026, 7:05 pm

Breakout Stocks Surge: TBZ, Senco Gold Lead Gains Amid Market Dip
Breakout Stocks Surge: TBZ, Senco Gold Lead Gains Amid Market Dip

7th January 2026, 6:27 pm

Documents

Announcements

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

9 Jan - Link to Q3 FY2025-26 earnings conference call audio posted on company website (9 Jan 2026).

Announcement under Regulation 30 (LODR)-Newspaper Publication

9 Jan - Extract of Financial Result published in newspaper is attached.

Announcement under Regulation 30 (LODR)-Investor Presentation

8 Jan - Investor Presentation of the Earnings Conference Call to be held on 9th January, 2026 is attached.

Announcement under Regulation 30 (LODR)-Press Release / Media Release

8 Jan - Q3 revenue ₹552cr, EBITDA ₹109cr, PAT ₹72cr; orderbook ₹1,372cr; FY26 revenue guidance cut up to ~5%.

Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)

8 Jan - Board approved Q3 & 9M FY26 unaudited results; CFO resigns effective 31-Jan-2026.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

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)

Credit Ratings

Rating update

3 Jul 2025 from icra

Rating update

25 Jul 2024 from icra

Rating update

7 Jun 2023 from icra

Rating update

27 Oct 2022 from brickwork

Rating update

18 Oct 2022 from icra

Rating update

21 Jun 2022 from icra

Concalls

Jan 2026

PPTRecording

Oct 2025

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Jul 2025

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May 2025

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Nov 2022

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Nov 2021

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Jun 2021

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Oct 2020

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Oct 2019

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Apr 2019

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Oct 2018

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May 2018

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Stock Analysis

Description

  1. Elecon Engineering Company Limited is a leading Indian manufacturer of industrial gear solutions and material handling equipment, with a significant presence in domestic and international markets.

Key Growth Triggers

  1. Growth is expected to be driven by domestic demand, particularly in the power, steel, and sugar sectors. The company also aims to increase international revenue contribution to 50% by FY30.

Order Book

  1. As of December 31, 2025, the consolidated order book stood at ₹1,372 Cr, with the Gear division contributing ₹811 Cr and the MHE division contributing ₹561 Cr.

Key Red Flags

  1. Declining YoY EBITDA and PAT in Q3 FY26, impacted by higher employee costs and product mix. The company has revised its FY26 revenue and EBITDA margin guidance downwards. Resignation of CFO announced.

Key Dates To Watch

  1. CFO resignation effective January 31, 2026.

Corporate Announcements

31st Mar 26
Impact Rating: 5
Elecon Engineering paid a penalty of ₹11,98,800.00 lakh (₹0.12 cr) to resolve a GST matter involving a transport vehicle detention. The company intends to appeal for a refund and anticipates no material business impact.
31st Mar 26
Impact Rating: 1
No description available.
31st Mar 26
Impact Rating: 7
Elecon Engineering's trading window will shut on April 1, 2026, until 48 hours post-results for the fiscal year ending March 31, 2026. The Board will meet on April 15, 2026, to consider these results.
26th Mar 26
Impact Rating: 7
Elecon Engineering's subsidiary in Singapore has established a new step-down subsidiary in Mexico, Grupo Radicon SA de CV, to focus on industrial engineering product sales.
10th Mar 26
Impact Rating: 3
Elecon Engineering has scheduled a meeting with investors and analysts for March 13, 2026, hosted by Share India Securities Limited, focusing on publicly available information.