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Elecon Engineering Company Ltd.

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elecon.comBSE: 505700NSE: ELECON
Market Cap₹ 9,437 Cr.
Current Price
High / Low₹ 635 / 352
Stock P/E31.8
Book Value₹ 94
Price to Book3.89
Dividend Yield0.48 %
ROCE32.9 %
ROE25.8 %
Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2021 • Transmission Equipment: 82.5% • Material Handling Equipment: 17.5%

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%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 67.4% CAGR over last 5 years
  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 32.6%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.5%
  • Company has delivered good sales growth of 20.4% CAGR over last 5 years

CONS

  • Recent results are weak - TTM profit is down 60.5% versus prior year
  • Valuation is stretched - P/E of 31.8 is well above its own 5-year median (17.6)
  • Growth is decelerating - 3Y profit CAGR (36.3%) trails the 5Y trend (67.4%)
  • Though reporting repeated profits, the company pays out little dividend (9.4%)

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

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments
Part ofNIFTY SMLCAP 250NIFTY 500NIFTY TOTAL MKT
S.No.Name
1.BHEL433.3062.03150877.810.32376.71182.707697.7240.299.246.69
2.INDOMIM988.3591.6048872.020.602401.22—12187.42—24.4833.36
3.THERMAX3635.8573.0143323.440.5521.79-85.612302.737.0915.852.98
4.HONAUT34159.3554.8030202.070.32150.7020.951204.401.8017.0414.32
5.JYOTICNC1008.7071.3022940.170.0057.14-19.99508.4723.9721.3421.40
6.INOXINDIA2184.8077.9519864.740.09580.72850.163707.90991.7733.5420.46
7.AZAD2804.70130.3318113.240.0035.1619.46172.6025.9012.0437.29
8.TRITURBINE564.9053.4017958.080.7551.10-20.65442.7019.2335.9511.59
9.TEGA1680.15597.4112622.580.12-108.25-406.361723.44383.998.373.27
10.LLOYDSENGG81.2356.3312599.090.3168.23-77.28527.15142.9217.9915.04
11.KRN1600.40108.0610475.980.0032.90164.84252.32118.8716.0619.44
12.ELECON420.5539.989437.140.4870.35-59.90520.566.1122.2720.96
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
324407383485293419446713410496454656398
238299282368221328320539288383359511339
Operating Profit8710810111873911271741221139514459
OPM %26.72%26.50%26.46%24.24%24.72%21.68%28.37%24.37%29.78%22.75%21.03%22.01%14.84%
61113101311131617418171520
Interest2211113465668
Depreciation10111010101113172222242426
Profit before Tax8110610211674891241692691048213079
Tax %25.07%25.54%25.41%25.34%25.41%24.87%25.73%25.71%11.29%23.96%24.93%25.22%25.57%
Net Profit6179768755679212523979629759
5.433.523.403.872.462.994.105.5910.653.522.764.322.61

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
9239119558367968931,1971,6001,8712,0162,004
7578018747587257159221,1861,4041,5441,592
Operating Profit166110817771178275414467472412
OPM %17.98%12.10%8.50%9.25%8.88%19.89%22.98%25.87%24.98%23.41%20.54%
8115538851722404922870
Interest736865705533126102426
Depreciation4848444442383941519196
Profit before Tax52528158124246406456585395
Tax %59.86%-58.92%56.66%-5567.02%37.78%22.73%23.66%25.35%25.42%18.54%24.90%
Net Profit21812723696188303340477296
EPS1.880.721.086.453.238.5116.7727.0215.1521.24—
Dividend Payout %26.64%27.76%18.59%0.00%12.38%16.45%11.93%11.10%13.20%9.41%—

COMPOUNDED SALES GROWTH

10 Years:
7%
5 Years:
20%
3 Years:
19%

COMPOUNDED PROFIT GROWTH

10 Years:
29%
5 Years:
67%
3 Years:
36%

STOCK PRICE CAGR

10 Years:
31%
5 Years:
36%
3 Years:
1%
1 Year:
-30%

RETURN ON EQUITY

10 Years:
12%
5 Years:
21%
3 Years:
24%
Last Year:
26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Jun 12

₹ 1.50

Rs.1.5000 per share(150%)Final Dividend

2025

Oct 16

₹ 0.50

Rs.0.5000 per share(50%)Interim Dividend

2025

Jun 13

₹ 1.50

Rs.1.5000 per share(150%)Final Dividend

2024

Oct 28

₹ 0.50

Interim Dividend

2024

Jun 14

₹ 1

Rs.2.0000 per share(100%)Final Dividend

2023

Oct 31

₹ 0.50

Interim Dividend

2023

Jun 9

₹ 1

Rs.2.0000 per share(100%)Final Dividend

2022

Jun 9

₹ 0.50

2022

Jun 9

₹ 0.20

2021

Jul 22

₹ 0.20

Rs.0.4000 per share(20%)Dividend

2019

Sep 6

₹ 0.10

Rs.0.2000 per share(10%)Dividend

2018

Sep 18

₹ 0.10

Rs.0.2000 per share(10%)Dividend

2017

Jul 26

₹ 0.25

Rs.0.5000 per share(25%)Dividend

2016

Jul 18

₹ 0.55

Rs.1.1000 per share(55%)Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital22222222222222222222
7077087187607978851,0571,3251,6312,026
422457451362222982758149200
Trade Payables360370342458362214152155231235
347397414234299215158200263378
Total Liabilities1,8591,9551,9471,8361,7021,4351,4161,7602,2972,861
756713677628588563580598737850
Capital Work in Progress11500001723
128160160119119119138342544854
232201239228176180176154166201
0000000407575665
Cash & Bank6338255139136116164103
736846858836768535386142105165
Total Assets1,8591,9551,9471,8361,7021,4351,4161,7602,2972,861

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
20110573173219206358227279281
Cash from Investing-26-6514-13-16-4-144-177-159-173
Cash from Financing-185-38-89-156-193-175-140-47-55-111
-154-5211-210365-3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
59.2859.2759.2759.2759.2759.2759.2759.2759.27
9.109.849.738.659.618.318.097.136.99
2.552.973.674.393.804.134.485.677.18
0.000.010.030.030.040.040.040.040.04
29.0727.9127.3027.6627.2928.2528.1027.8726.51

Documents

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

2026-08-25
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-25 - Elecon Engineering Company Limited has informed the Exchange about Schedule of meet

2026-08-05
Copy of Newspaper Publication

2026-08-05 - Elecon Engineering Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-03
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-03 - Elecon Engineering Company Limited has informed the Exchange about Schedule of meet

2026-08-01
Shareholders meeting

2026-08-01 - Elecon Engineering Company Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-07-18
Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-18 - Elecon Engineering Company Limited has informed the Exchange about Transcript

2026-07-16
Credit Rating

2026-07-16 - Elecon Engineering Company Limited has informed the Exchange about Credit Rating

2026-07-13
Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-13 - Elecon Engineering Company Limited has informed the Exchange about Link of Recording

2026-07-11
Copy of Newspaper Publication

2026-07-11 - Elecon Engineering Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-10
Investor Presentation

2026-07-10 - Elecon Engineering Company Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for ELECON

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