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Elpro International Ltd (ELPROINTL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504000 NSE: ELPROINTL Construction - Real Estate | Small Cap | Elpro International Share Price

₹170.60 0.60 (0.35%)

As on 19-Jun'26 16:59

Elpro International Ltd (ELPROINTL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504000 NSE: ELPROINTL Construction - Real Estate | Small Cap | Elpro International Share Price

₹170.60 0.60 (0.35%)

As on 19-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,891 Cr.
Current Price
₹170.6
52-Week Low / High
₹71 / 178
TTM EPS
₹2
TTM Sales
₹169 Cr.
Book Value per Share
₹124
P/E Ratio
86.89
Higher than its 5-year historical median
Industry PE
45.1
Price to Book (P/B)
1.38
Higher than its 5-year historical median
Price to Sales (P/S)
17.11
Higher than its 5-year historical median
EV/EBITDA
29.06
Higher than its 5-year historical median
Dividend Yield
0.41%
Profitability Efficiency
Return on Equity (ROE)
2.15%
Outperforms industry median
Return on Capital Employed (ROCE)
4.13%
Outperforms industry median
Return on Assets (ROA)
1.42%
Operating Profit Margin
21%
Net Profit Margin
18.09%
Gross Profit Margin
21.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
86.23%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-0.43%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-18.87%
Asset Quality
Promoter Holding
75.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,084 Cr.
Equity
₹17 Cr.
Face Value
₹1
All Time Low / High
₹0.49 / 178.00

Elpro International stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Strong
Q.1 Is Elpro International Ltd a good quality company?
Elpro International Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Elpro International Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Elpro International Ltd vs industry peers?
Elpro International Ltd revenue CAGR is 13.72%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Elpro International Ltd?
Promoters hold 75.00% of the Elpro International Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Elpro International Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 27.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Elpro International Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 5.4%7.7%10.2%28.7%8.5%6.6%141.1%4.7%4.8%4.1%-
Value Creation
Index
-0.6-0.5-0.31.1-0.4-0.59.1-0.7-0.7-0.7-

Growth Parameters

Sales 44.852.961.141.211063.272.497.5112209169
Sales YoY Gr.-18%15.5%-32.6%166.7%-42.5%14.7%34.6%15.1%86.2%-
Adj EPS -0.2-0.40.3-0.20.30.412.91.92.72.22
YoY Gr.-NANA-180%NA46.4%3039%-85.6%47.3%-21.2%-
BVPS (₹) 9.59.110.313.412.613.572.47491.9115.6124
Adj Net
Profit
-3.6-5.64.2-44.7721831.546.536.733
Cash Flow from Ops. 26.834.157.5-76.32515.7-1623011.255.9-
Debt/CF from Ops. 5.55.84.5-2.29.214-0.44.33316.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 18.7%13.7%42.4%86.2%
Adj EPS NA50.5%-44.8%-21.2%
BVPS32%55.9%16.9%25.8%
Share Price 26.2% 31.8% 41.1% 64.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-2.4-3.93-2.22.23.129.82.53.32.11.6
Op. Profit
Mgn %
34.146.562.315.53148.14836.639.32129.5
Net Profit
Mgn %
-8-10.66.8-9.74.311.1301.232.341.417.619.7
Debt to
Equity
11.41.80.71.110.10.10.20.50.1
Working Cap
Days
562540473730239346311570613358346
Cash Conv.
Cycle
16445-707-6-155-118-125-146-19-351

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales45536141110637297112209
Operating Expenses + 302823357633386468165
Manufacturing Costs23211412571720362727
Material Costs23332223397
Employee Cost 2122584333
Other Costs 3351812612223538
Operating Profit 1525386343035334444
Operating Profit Margin (%) 34.0%46.4%62.3%15.5%31.0%48.1%48.0%34.4%39.3%21.0%
Other Income + 010108431,197344164
Exceptional Items 0000000000
Interest 1930332629252352563
Depreciation 0111245558
Profit Before Tax -4-6487751,204585436
Tax 000162-2215168-2
Profit After Tax -4-647157989414738
PAT Margin (%) -7.9%-10.5%6.8%172.7%4.3%11.1%1,365.9%42.4%41.5%18.1%
Adjusted EPS (₹)-0.2-0.40.34.20.30.458.42.42.82.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%9.40%21.80%31.40%

Valuation of Elpro International - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 1481381422272132291,2261,2541,5571,958
Share Capital 18141417171717171717
Reserves 1301241282101962121,2101,2371,5401,941
Debt +1421962531482152005125351899
Long Term Debt147010910819719153185286
Short Term Debt128126144411891123166613
Minority Interest0000000000
Trade Payables7781518171535179
Others Liabilities 955251118687212889147376
Total Liabilities 3933934545085155181,3741,5032,0723,242

Fixed Assets

Net Fixed Assets +8222222229253420
Gross Block29224556233257428
Accumulated Depreciation21003334448
CWIP 29000000006
Investments 2713133684214492571,0718421,4772,341
Inventories2013544111111
Trade Receivables5423412121876
Cash Equivalents 51323645223
Others Assets 5660743656240242410333465
Total Assets 3933934545085155181,3741,5032,0723,242

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 273458-762516-162301156
PBT -4-6487751,204585436
Adjustment 193034-822429-1,170-22-136
Changes in Working Capital 111020-82-6-15-11-1-2826
Tax Paid 01000-4-185-5-3-13
Cash Flow From Investing Activity + -29-13-70100-8220387-133-216-536
Capex -2-9-26-41-26-2-2-230-43-178
Net Investments 0-2-30139-456381241-298-242
Others -26-1-142-11168-145124-116
Cash Flow From Financing Activity 7-2514-2457-33-18560205481
Net Proceeds from Shares + 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -19-18-20-13-23-21-19-3-21-58
Dividend Paid 00000000-14-12
Others 25-734-1180-12-16663240551
Net Cash Flow 5-42-10340-43-01

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-2.42-3.942.9838.592.163.18135.93.333.312.15
ROCE (%)5.47.6810.2328.678.546.56141.124.674.824.13
Asset Turnover Ratio0.120.140.140.090.210.120.080.070.060.08
PAT to CFO Conversion(x)N/AN/A14.5-1.0752.29-0.160.730.231.47
Working Capital Days
Receivable Days41.6029.6019.3023.6010.9045.7061.5057.1040.6011.30
Inventory Days191.1011355.10220.5075.104.303.904.303.801.60
Payable Days906.201,0189641,557.202,5483,242.202,421.703,461.203,094.5048.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Elpro International Ltd FAQs

The current trading price of Elpro International on 19-Jun-2026 16:59 is ₹170.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-Jun-2026 the market cap of Elpro International stood at ₹2,891.3 Cr

The latest P/E ratio of Elpro International as of 18-Jun-2026 is 86.89.

The latest P/B ratio of Elpro International as of 18-Jun-2026 is 1.38.

The 52-week high of Elpro International is ₹178.0 and the 52-week low is ₹71.20.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Elpro International is ₹169 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Elpro International Ltd is a below average quality company.

The key valuation ratios of Elpro International Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Elpro International Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Elpro International Ltd

Elpro International Limited was incorporated in July 1962 as a public limited company, in technical and financial collaboration with General Electric, USA. The company is the only one outside the United States to manufacture surge arresters and zinc oxide discs with GE technology, acknowledged to be the best in the world.

The product portfolio of the company includes, surge arresters, distribution class arresters, station class arrestors, secondary surge arresters, under oil surge arrestors, accessories, zinc oxide discs and varistors.

The company’s corporate headquarters are located in Pune, 170 km from India’s financial capital Mumbai, and its multi-manufacturing facilities are based out of Pune and Hyderabad.

Elpro International Ltd. is India's largest and among the leading companies in South Asia in the design, manufacture and supply of distribution, intermediate and station class Metal Oxide Surge Arresters with technology from GE, USA. In tune with changing times and technology, Elpro's products were first upgraded from 2H type Intermediate Arresters to Active- Gap technology and, a few years later, again upgraded to Metal Oxide Arresters, alternatively known as Gapless. Besides technical advantages, Gapless Arresters provide significant cost savings in insulation compared to similar traditional Gap-type Arresters.

An ISO 9001-2000 company, Elpro International is the number one manufacturer of surge arresters in Asia manufactured with technical know how from GE USA. It is the only manufacturer outside the United States manufacturing Surge Arresters and Zinc Oxide Discs with GE technology  acknowledged to be the best in the world.

Elpro’s constant adherence to excellence in quality and expertise in marketing has ensured a reliable brand image and a dominant market share in each of its product lines in India. It is the first company to introduce & produce Surge Arresters as well as Metal Oxide Gapless Surge Arresters in India. Elpro won the ELCINA award in the Research & Development category in 1987and its products have been successfully type tested in renowned laboratories like CESI - Italy, KEMA - Netherlands and CPRI  India. Elpro International is the only manufacturer outside the US that meets IEC as well as ANSI standards.

Elpro International set up a metal oxide varistor manufacturing plant in its Pune facility in 1986 with technical expertise from GE. To enhance its capabilities further, Elpro acquired a Disconnecting Switch (Isolators) manufacturing company in 1994, Switchgear Manufacturing Company, which was set up in Hyderabad via a technical collaboration with ALPHA Switzerland.

Today, Elpro has a presence in international markets including USA, Mexico, Brazil, Columbia, Peru, Italy, France, Turkey, Russia, Ghana, Nigeria, Kenya, Iran, Iraq, Saudi Arabia, Bangladesh, Bhutan, Thailand, Philippines, Vietnam, Taiwan, Korea.

As part of its corporate vision to emerge as the leader in surge arresters, Elpro International acquired the Zinc Oxide Disc (active elements of surge arresters) manufacturing line from Harris, Ireland in 2001 and the same was installed in the company’s Pune facilities in the year 2002.

Harris and Elpro, both use GE’s technical expertise. As a result, the two companies share great synergy, which has translated in speedy absorption of technology and processes. At full operation the plant has an annual capacity to process 300 tonnes of Zinc Oxide Powder. With this new facility, Elpro has a combined annual capacity to produce 450 tonnes of Zinc Oxide Discs, making the Company the leading manufacturer and supplier of Zinc Oxide Discs in Asia.

Elpro continues to be on the fast track to growth with a strong focus on developing niche products and strategic acquisitions in existing, or new-product areas, with potential for global marketing. Some of Elpro’s national clients include ABB India; Bharat Heavy Electricals Limited (BHEL); National Thermal Power Corporation of India (NTPC); Reliance Industries; Siemens India; Tata Power Company and international clients include GE USA; KWPA Iran; Saudi Electric Company and Taiwan Power Company.

Awards/ Achievements

The company received the ‘ELCINA’ award for excellence in the development of high quality electronic components.

One of the few manufacturers, globally, whose Surge Arresters comply to both IEC and ANSI standards.

Recent developments

Elpro International's board at its meeting held on April 20, 2009, has converted the 35000 Convertible warrants of Mavi Investment Fund into 35000 numbers of Equity Shares of Rs 10 each at a premium of Rs 601 and shall rank pari passu to the existing shares of the company.

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