Eimco Elecon (India) Ltd.

•

eimcoelecon.inBSE: 523708NSE: EIMCOELECO

Market Cap₹ 1,340 Cr.

Current Price

High / Low₹ 2,380 / 1,406

Stock P/E33.8

Book Value₹ 837

Price to Book1.76

Dividend Yield0.17 %

ROCE11.4 %

ROE8.6 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company has delivered good profit growth of 28.0% CAGR over last 5 years
Company is almost debt free
Company comfortably covers its interest (60.3x coverage)
Company has a consistent dividend-paying track record
Company generates healthy free cash flow
Institutional investors have been accumulating - FII+DII up 3.7pp

CONS

Promoter holding has decreased over last 2 years: -25.1pp
Recent results are weak - TTM profit is down 20.8% versus prior year
A large part of profit comes from other income (33.9% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.52x)
Valuation is stretched - P/E of 33.8 is well above its own 5-year median (21.3)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BHEL	430.60	61.64	149937.65	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	1018.90	94.43	50382.66	0.58	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3680.25	73.91	43852.50	0.54	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	34514.05	55.37	30515.68	0.32	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	987.95	69.84	22468.26	0.00	57.14	-19.99	508.47	23.97	21.34	21.40
6.	INOXINDIA	2245.75	80.12	20418.91	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2846.00	132.25	18379.96	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	569.10	53.80	18091.60	0.75	51.10	-20.65	442.70	19.23	35.95	11.59
9.	TEGA	1731.10	615.52	13005.36	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
10.	LLOYDSENGG	82.72	57.36	12830.19	0.30	68.23	-77.28	527.15	142.92	17.99	15.04
11.	KRN	1595.75	107.75	10445.54	0.00	32.90	164.84	252.32	118.87	16.06	19.44
12.	EIMCOELECO	2322.95	34.76	1339.97	0.17	14.84	51.22	84.30	31.23	11.35	19.82

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44	51	48	84	70	67	46	64	68	33	63	67	78
	41	38	40	68	55	52	38	46	55	28	51	54	66
Operating Profit	2	13	8	17	15	15	8	18	12	5	13	13	12
OPM %	5.66%	25.10%	16.39%	19.82%	21.60%	22.66%	17.12%	28.23%	18.22%	15.70%	19.84%	19.35%	15.30%
	5	4	4	5	5	6	3	4	8	4	6	-1	8
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Profit before Tax	6	15	10	19	18	19	8	20	18	7	16	9	20
Tax %	-3.67%	21.85%	23.06%	22.11%	19.50%	32.01%	25.87%	24.40%	21.35%	22.35%	22.35%	28.86%	21.61%
Net Profit	6	12	8	15	15	13	6	15	14	5	13	6	15
	10.79	20.46	13.08	25.72	25.63	22.64	10.73	25.78	25.11	9.28	21.70	11.03	26.66

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	171	140	185	108	126	84	173	228	246	231	241
	149	125	160	102	115	79	148	188	191	188	198
Operating Profit	22	15	25	6	11	6	24	39	56	43	43
OPM %	12.77%	10.69%	13.55%	5.42%	8.61%	6.97%	14.08%	17.29%	22.57%	18.59%	17.67%
	13	10	11	11	11	13	10	19	19	17	17
Interest	0	1	1	1	1	0	1	1	1	1	1
Depreciation	5	5	5	6	7	8	8	7	8	9	9
Profit before Tax	30	19	30	10	14	10	26	50	66	50	52
Tax %	15.78%	15.39%	23.68%	7.80%	21.11%	13.74%	21.21%	19.09%	25.45%	23.12%	23.20%
Net Profit	25	16	23	9	11	9	21	40	49	39	40
EPS	43.50	28.51	0.00	0.00	19.51	14.77	36.18	70.06	84.78	67.11	—
Dividend Payout %	11.49%	17.54%	17.39%	30.66%	25.62%	16.93%	13.82%	7.14%	5.90%	5.96%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 13%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: 8%
5 Years:: 28%
3 Years:: 23%

STOCK PRICE CAGR

10 Years:: 20%
5 Years:: 41%
3 Years:: 37%
1 Year:: 8%

RETURN ON EQUITY

10 Years:: 7%
5 Years:: 8%
3 Years:: 11%
Last Year:: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6	6	6	6	6	6	6	6	6	6
	273	286	306	310	318	324	343	380	426	462
	0	1	1	2	1	0	0	0	0	4
Trade Payables	14	24	20	17	19	17	18	25	16	18
	53	33	37	35	47	43	27	50	54	45
Total Liabilities	345	350	369	370	392	390	394	461	502	534
	64	73	71	75	84	78	73	71	67	73
Capital Work in Progress	0	1	9	11	0	0	1	0	1	2
	143	143	153	156	155	153	165	180	226	205
	34	39	40	53	37	71	79	86	112	109
	49	60	0	0	61	0	0	94	68	72
Cash & Bank	2	4	4	7	10	3	3	8	2	1
	53	30	92	69	45	84	74	23	25	74
Total Assets	345	350	369	370	392	390	394	461	502	534

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	19	10	16	17	3	-8	11	12	33	22
Cash from Investing	-15	-5	-8	-3	3	8	-5	-2	-36	-22
Cash from Financing	-3	-3	-3	-5	-3	-5	-2	-4	-4	-1
	1	2	-0	3	3	-6	-0	5	-6	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.06	74.06	73.64	73.64	73.64	48.96	48.96	48.96	48.96
	0.10	0.10	0.28	0.45	0.21	0.60	3.39	3.10	3.25
	0.36	0.37	0.75	0.33	0.34	0.23	1.00	1.05	0.98
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.48	25.47	25.32	25.57	25.82	50.21	46.65	46.89	46.81

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-18

Credit Rating

2026-08-18 - Eimco Elecon (India) Limited has informed the Exchange about Credit Rating

2026-08-05

Copy of Newspaper Publication

2026-08-05 - Eimco Elecon (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-10

Copy of Newspaper Publication

2026-07-10 - Eimco Elecon (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-09

Outcome of Board Meeting

2026-07-09 - Eimco Elecon (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-07

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-07 - Eimco Elecon (India) Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-30

Trading Window

2026-06-30 - Eimco Elecon (India) Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-26

Shareholders meeting

2026-06-26 - Eimco Elecon (India) Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on Jun 25, 2026. Further, the company has informed the Exchange regarding voting results.

2026-06-25

Updates

2026-06-25 - Eimco Elecon (India) Limited has informed the Exchange regarding 'Chairman's Statement'.

2026-06-25

Shareholders meeting

2026-06-25 - Eimco Elecon (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on Jun 25, 2026

News

Recent coverage and analyst commentary for EIMCOELECO

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Eimco Elecon (India) Ltd.

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Name

BHEL

430.60

61.64

149937.65

0.33

376.71

182.70

7697.72

40.29

9.24

6.69

INDOMIM

1018.90

94.43

50382.66

0.58

2401.22

—

12187.42

—

24.48

33.36

THERMAX

3680.25

73.91

43852.50

0.54

21.79

-85.61

2302.73

7.09

15.85

2.98

HONAUT

34514.05

55.37

30515.68

0.32

150.70

20.95

1204.40

1.80

17.04

14.32

JYOTICNC

987.95

69.84

22468.26

0.00

57.14

-19.99

508.47

23.97

21.34

21.40

INOXINDIA

2245.75

80.12

20418.91

0.09

58.07

-4.98

370.79

9.18

33.54

20.46

AZAD

2846.00

132.25

18379.96

0.00

35.16

19.46

172.60

25.90

12.04

37.29

TRITURBINE

569.10

53.80

18091.60

0.75

51.10

-20.65

442.70

19.23

35.95

11.59

TEGA

1731.10

615.52

13005.36

0.12

-108.25

-406.36

1723.44

383.99

8.37

3.27

LLOYDSENGG

82.72

57.36

12830.19

0.30

68.23

-77.28

527.15

142.92

17.99

15.04

KRN

1595.75

107.75

10445.54

0.00

32.90

164.84

252.32

118.87

16.06

19.44

EIMCOELECO

2322.95

34.76

1339.97

0.17

14.84

51.22

84.30

31.23

11.35

19.82

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

OPM %

5.66%

25.10%

16.39%

19.82%

21.60%

22.66%

17.12%

28.23%

18.22%

15.70%

19.84%

19.35%

15.30%

-1

Interest

Depreciation

Profit before Tax

Tax %

-3.67%

21.85%

23.06%

22.11%

19.50%

32.01%

25.87%

24.40%

21.35%

22.35%

28.86%

21.61%

Net Profit

10.79

20.46

13.08

25.72

25.63

22.64

10.73

25.78

25.11

9.28

21.70

11.03

26.66

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

171

140

185

108

126

173

228

246

231

241

149

125

160

102

115

148

188

191

188

198

Operating Profit

OPM %

12.77%

10.69%

13.55%

5.42%

8.61%

6.97%

14.08%

17.29%

22.57%

18.59%

17.67%

Interest

Depreciation

Profit before Tax

Tax %

15.78%

15.39%

23.68%

7.80%

21.11%

13.74%

21.21%

19.09%

25.45%

23.12%

23.20%

Net Profit

EPS

43.50

28.51

0.00

19.51

14.77

36.18

70.06

84.78

67.11

—

Dividend Payout %

11.49%

17.54%

17.39%

30.66%

25.62%

16.93%

13.82%

7.14%

5.90%

5.96%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

273

286

306

310

318

324

343

380

426

462

Trade Payables

Total Liabilities

345

350

369

370

392

390

394

461

502

534

Capital Work in Progress

143

153

156

155

153

165

180

226

205

112

109

Cash & Bank

Total Assets

345

350

369

370

392

390

394

461

502

534

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-8

Cash from Investing

-15

-5

-8

-3

-5

-2

-36

-22

Cash from Financing

-3

-5

-3

-5

-2

-4

-1

-0

-6

-0

-6

-1

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.06

73.64

48.96

0.10

0.28

0.45

0.21

0.60

3.39

3.10

3.25

0.36

0.37

0.75

0.33

0.34

0.23

1.00

1.05

0.98

Government

0.00

25.48

25.47

25.32

25.57

25.82

50.21

46.65

46.89

46.81

Eimco Elecon (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Eimco Elecon (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI