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Elecon Engineering Company Ltd - Stock Valuation and Financial Performance

BSE: 505700 | NSE: ELECON | Engineering - Industrial Equipments | Small Cap

Elecon Engg. Share Price

657.15 -12.70 -1.90%
as on 17-Jun'25 12:33

DeciZen - make an informed investing decision on Elecon Engg.

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Elecon Engineering Company stock performance -

mw4me loader
P/E Ratio (SA):
44.21
Market Cap:
15,031.4 Cr.
52-wk low:
348.1
52-wk high:
738.9

Is Elecon Engineering Company Ltd an attractive stock to invest in?

1. Is Elecon Engineering Company Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Elecon Engineering Company Ltd is a average quality company.

2. Is Elecon Engineering Company Ltd undervalued or overvalued?

The key valuation ratios of Elecon Engineering Company Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Elecon Engineering Company Ltd a good buy now?

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

10 Year X-Ray of Elecon Engg.:

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.
Elecon Engineering Company Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 12.3%10.1%6%7.6%6.1%10.4%15.2%24.8%34%31%-
Value Creation
Index
-0.1-0.3-0.6-0.5-0.6-0.30.10.81.51.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 9809239119558367968931,1971,6001,8711,871
Sales YoY Gr.--5.7%-1.3%4.9%-12.5%-4.7%12.2%34.1%33.6%17%-
Adj EPS 1.11.10.30.53.21.64.48.313.21515.2
YoY Gr.--5.4%-76.2%112%509.4%-50.8%178.6%88.3%58.8%13.3%-
BVPS (₹) 33.232.532.63334.936.540.448.160.173.773.7
Adj Net
Profit
24.123.65.711.972.535.899.4187297337340
Cash Flow from Ops. 12.819610671170220178294227279-
Debt/CF from Ops. 44.32.44.76.72.110.6000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 7.5%17.5%28%17%
Adj EPS 33.6%36%50.2%13.3%
BVPS9.3%16.2%22.1%22.7%
Share Price 33.1% 122.8% 71.7% -0.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
3.93.30.81.69.54.511.518.824.522.420.6
Op. Profit
Mgn %
1618.412.18.69.78.920.523.125.924.824.8
Net Profit
Mgn %
2.52.60.61.28.74.511.115.618.61818.2
Debt to
Equity
0.80.60.70.60.50.30.10000
Working Cap
Days
26836839940846644932918713914699
Cash Conv.
Cycle
82132158150135859484697565

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 27.97%

Net Profit is growing at healthy rate in last 3 years 50.16%

Sales growth is good in last 4 quarters at 14.18%

Return on Equity has declined versus last 3 years average to 20.60%

Latest Financials - Elecon Engineering Company Ltd.

Standalone Consolidated
TTM EPS (₹) 15.2 18.5
TTM Sales (₹ Cr.) 1,871 2,227
BVPS (₹.) 73.7 89.1
Reserves (₹ Cr.) 1,631 1,976
P/BV 9.09 7.52
PE 44.21 36.21
From the Market
52 Week Low / High (₹) 348.05 / 738.85
All Time Low / High (₹) 0.23 / 738.85
Market Cap (₹ Cr.) 15,031
Equity (₹ Cr.) 22.4
Face Value (₹) 1
Industry PE 55

Management X-Ray of Elecon Engg.:

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 (%)

Event Update

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Analyst's Notes

No data found!

Key Ratios of Elecon Engg.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales9809239119558367968931,1971,6001,871
Operating Expenses 8297578018747587257159221,1861,407
Manufacturing Costs19517222222615689110150191207
Material Costs432383402424379363418548711895
Employee Cost 8385667371645983111130
Other Costs 119118111151152210129140174176
Operating Profit 151166110817771178275414464
Operating Profit Margin (%) 15.4%18.0%12.1%8.5%9.2%8.9%19.9%23.0%25.9%24.8%
Other Income 3181155388517224053
Interest 7173686570553312610
Depreciation 56484844444238394151
Exceptional Items 0000000000
Profit Before Tax 5652528158124246406456
Tax 1931-316-71222858103116
Profit After Tax 3721812723696188303340
PAT Margin (%) 3.7%2.3%0.9%1.3%8.7%4.6%10.7%15.7%19.0%18.2%
Adjusted EPS (₹)1.70.90.40.53.21.64.38.413.515.2
Dividend Payout Ratio (%)33%27%28%19%0%12%16%12%11%13%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 7237297317407828199081,0791,3481,653
Share Capital 22222222222222222222
Reserves 7017077087187607978851,0571,3251,631
Minority Interest0000000000
Debt53842245745133520694003
Long Term Debt1289114521713111620000
Short Term Debt4093313132342049074003
Trade Payables407360370342458362214152155231
Others Liabilities 308347397414261315219184257409
Total Liabilities 1,9761,8591,9551,9471,8361,7021,4351,4161,7602,297

Fixed Assets

Gross Block8748888928998828818368749281,112
Accumulated Depreciation85132178221253293274294330375
Net Fixed Assets789756713677628588563580598737
CWIP 8215000017
Investments 110128160160119119119138342544
Inventories263232201239228176180176154166
Trade Receivables659587623547559467379299407575
Cash Equivalents 206338255139136116164
Others Assets12714922331127730115586142105
Total Assets 1,9761,8591,9551,9471,8361,7021,4351,4161,7602,297

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 1319610671170219178294227279
PBT 5652528158124246406456
Adjustment 909511210212313387314727
Changes in Working Capital -10253-12-565027-581-125-84
Tax Paid -30-41-2-31-28-64-101-120
Cash Flow From Investing Activity -16-26-6514-13-16-4-144-177-159
Capex 3-1011-13-12-3-17-44-25-63
Net Investments 21-7919-8-1910-105-202-191
Others -21-163885265095
Cash Flow From Financing Activity 17-185-38-89-156-193-175-140-47-55
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 42036-23-90-18-96-2000
Interest Paid -62-63-66-64-68-50-34-12-6-10
Dividend Paid -15-14-7-3-30-4-16-34-34
Others 52-107006-124-40-93-7-11
Net Cash Flow 14-154-5211-210365
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)5.922.91.111.649.514.5311.0618.9424.9822.66
ROCE (%)12.310.136.027.596.0910.3715.2324.7533.9831.04
Asset Turnover Ratio0.70.520.480.490.440.450.570.841.010.92
PAT to CFO Conversion(x)0.359.3313.255.922.366.081.851.560.750.82
Working Capital Days
Receivable Days1522282402232412351731038196
Inventory Days679186841029373543831
Payable Days2603663323063864122521227979

Elecon Engineering Company Ltd Stock News

Elecon Engineering Company Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Elecon Engg. on 17-Jun-2025 12:33 is ₹657.1.
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 17-Jun-2025 12:33 the market cap of Elecon Engg. stood at ₹15,031.4.
The latest P/E ratio of Elecon Engg. as of 17-Jun-2025 12:33 is 44.21.
The latest P/B ratio of Elecon Engg. as of 17-Jun-2025 12:33 is 9.09.
The 52-week high of Elecon Engg. is ₹738.9 and the 52-week low is ₹348.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Elecon Engg. is ₹1,871 ( Cr.) .

About Elecon Engineering Company Ltd

Elecon Group was founded in the year 1951 in Goregaon, Mumbai by Late Shri Ishwarbhai B. Patel. Initially, the Company manufactured conveyor systems with a focus on Engineering, Procurement and Construction projects in India. Elecon Engineering Company Limited was incorporated as a Private Limited Company in January 1960. In May 1960, the Company relocated its base to the current location in Vallabh Vidyanagar, Gujarat. Later in June 1962, the Company was listed on the Bombay Stock Exchange Limited and in November 2006 on National Stock Exchange of India Limited.

The company is a trademark that reflects leadership and relentless innovations in the power transmission industry, and as an integrated solution provider for the entire value chain of material handling systems in India.

The company was established in Goregaon, Mumbai by Late Shri Ishwarbhai B. Patel. A company fundamentally driven by “excellence” around technical innovations had its early focus on engineering, procurement and construction projects. After relocating its base to Anand, Gujarat in 1960, Elecon continued to innovate in manufacturing Power Transmission Equipment and established a dedicated Gear Division in 1976.

Today, Seven decades later since its foundation, Elecon stands as an attestation to the formidable efforts and the visions of its founding fathers and their successors. Elecon reigns as the largest industrial gear manufacturing company in Asia, located in the Anand city of Gujarat. Since its inception, Elecon’s prime focus has remained on research & development, innovation and acquiring new-age technological advancements.

Business area of the company

The company is involved in the design and manufacturing of Material Handling Equipment and Industrial Gears and also involved in providing erection and commissioning solutions for its products.

Products

Power Transmission Products

  • Helical/Bevel Helical Gearboxes
  • Planetary Gearboxes
  • Worm Gearboxes
  • Couplings
  • High Speed Gearboxes
  • Wind Turbine Gearboxes
  • Marine Gearboxes
  • Loose Gears
  • Custom Buil Gearboxes

Material Handling Equipment Solutions

  • RMHS (Raw Material Handling System)
  • Specialized Conveyors
  • Feeders
  • Wagon Tippler & Associated Equipment
  • Crushers
  • Cable Reeling Drum
  • Idlers & Pulleys
  • Magnates/Weighers/Metal Detectors
  • Wagon & Truck Loaders
  • Scrapers / Reclaimers
  • Bagging & Weighing Machines
  • Stackers/ Reclaimers
  • Port Equipment

Foundry Division

Elecon’s Foundry Division (EFD) is ISO 9001-2008 certified and caters to machining and foundry needs of Elecon Engineering. After five decades expertise in the industry, EFD now provides casting and machining services to several other companies other than Elecon group with its ultra-modern amenities to fulfil high quality requirements. The Ferrous and Non-Ferrous Foundry is spread over ten acres of land, and has state of the art melting, moulding and heat treatment and quality assurance facilities.

History and milestones

  • 1960: Elecon was established to manufacture elevators and conveyors (Elecon) in Bombay, now Mumbai.
  • 1961: ELECON became a Public Limited Company
  • 1963: Installation of India's first CNC Machine at Elecon
  • 1967: First Stacker cum reclaimer machine was installed in year 1967 at santaldih TPS, WBSEB and worked well for 45 years
  • 1969: Collaboration with Alfred Wiseman for worm Gearboxes
  • 1974: India’s biggest MHE Order From Neyveli lignite
  • 1975: Collaboration with WGW (TGW) Thyssen Getriebe Works for Spiral Bevel & Helical Gearboxes
  • 1976: Foundation of ELECON-GEAR Division (New Setup for Gear Manufacturing)
  • 1985: First export order from EGAT, Thailand collaboration with Renk AG, Germany for High Speed Gearboxes and Bucket wheel & Slewing Planetary Gearboxes
  • 1992: Collaboration with Renk AG continues. Collaboration with SIME France for Hydrokinetic fluid Couplings
  • 1994: First Gear Company received ISO Certificate in India
  • 1998: Developed Lift Gear Box - TM 500 Model for M/S. Kinetic Transportation Products Ltd. (Indian counter part of Hyundai elevator Co., Korea)
  • 1999: Prestigious Order From Indian Navy - “CODOG” Gearbox
  • 2008: Collaboration with M/S. Haisung Industrial System Co. Ltd., South Korea
  • 2010: 1st International Acquisition by ELECON of UK based Benzlers & Radicon Group
  • 2011: Launched brand ambassador 'STACKY RECLAIMY' & 'ROLLY GEARRY' for ELECON MHE & Gear division
  • 2013: Commissioned an ultra-modern manufacturing facility, the Bhanubhai Memorial Centre of Excellence (BMCE)
  • 2015: Longest Pipe Conveyor installed successfully at Manikgarh Cement, India
  • 2016: ELECON received the biggest order from Indian Navy
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