MoneyWorks4Me

Elin Electronics Ltd (ELIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543725 NSE: ELIN Consumer Durables - Electronics | Small Cap | Elin Electronics Share Price

₹88.50 1.40 (1.61%)

As on 16-Sep'26 15:32

Elin Electronics Ltd (ELIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543725 NSE: ELIN Consumer Durables - Electronics | Small Cap | Elin Electronics Share Price

₹88.50 1.40 (1.61%)

As on 16-Sep'26 15:32

Key Metrics
Valuation Multiples
Market Cap
₹433 Cr.
Current Price
₹88.5
52-Week Low / High
₹87 / 234
TTM EPS
₹-1.7
TTM Sales
₹1,325 Cr.
Book Value per Share
₹107.7
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
61
Price to Book (P/B)
0.81
Lower than its 5-year historical median
Price to Sales (P/S)
0.33
Lower than its 5-year historical median
EV/EBITDA
9.42
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
4.14%
In line with industry median
Return on Capital Employed (ROCE)
6.56%
Underperforms industry median
Return on Assets (ROA)
3.00%
Operating Profit Margin
4.3%
Net Profit Margin
1.75%
Gross Profit Margin
4.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
7.53%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
6.09%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-22.95%
Asset Quality
Promoter Holding
32.97%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹511 Cr.
Equity
₹24.9 Cr.
Face Value
₹5
All Time Low / High
₹89.95 / 281.95

Elin Electronics stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Undervalued

Price Trend

Weak
Q.1 Is Elin Electronics Ltd a good quality company?
Elin Electronics Ltd is a average quality company, based on a somewhat consistent 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 Elin Electronics Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Elin Electronics Ltd vs industry peers?
Elin Electronics Ltd revenue CAGR is 8.35%, 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 Elin Electronics Ltd?
Promoters hold 32.97% of the Elin Electronics Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Elin Electronics Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of -19.8% 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.
Elin Electronics Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 14.5%14.2%14%12.2%17.5%17.6%10%5.6%7.5%7.4%-
Value Creation
Index
0.00.00-0.10.30.3-0.3-0.6-0.5-0.5-

Growth Parameters

Sales 4384946186117128928678359451,0161,021
Sales YoY Gr.-12.8%25%-1%16.4%25.2%-2.8%-3.7%13.1%7.5%-
Adj EPS 3.33.43.93.16.47.54.22.63.94.4-1.5
YoY Gr.-4.6%13.8%-19.6%106.4%16%-43.4%-38.8%50.6%13.9%-
BVPS (₹) 31.334.838.738.34855.88586.690.694.890.8
Adj Net
Profit
12.312.914.713.327.431.82112.919.422.1-7
Cash Flow from Ops. 3643.815.459.8-25.87250.233.920.144.4-
Debt/CF from Ops. 1.61.451.1-3.91.21.30.10.60.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 9.8%7.4%5.4%7.5%
Adj EPS 3.5%-7.2%1.6%13.9%
BVPS13.1%14.6%3.7%4.7%
Share Price - - -18.8% -60.3%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
1110.310.68.614.914.46.434.44.8-1.6
Op. Profit
Mgn %
8.17.66.97.37.87.66.34.34.64.93.7
Net Profit
Mgn %
2.82.62.42.23.93.62.41.52.12.2-0.7
Debt to
Equity
0.50.50.50.40.50.40.2000-
Working Cap
Days
10811111011411410911612510910471
Cash Conv.
Cycle
5853495360605962605943

Valuation of Elin Electronics - Consolidated

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!

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales4384946187868621,0941,0751,0421,1801,288
Operating Expenses + 4034575757307961,0151,0101,0011,1281,232
Manufacturing Costs47455154536261666771
Material Costs305345443554625816797771875969
Employee Cost 455971106108125134148166170
Other Costs 681016101119171923
Operating Profit 35384255667965415256
Operating Profit Margin (%) 8.1%7.6%6.9%7.1%7.7%7.2%6.1%3.9%4.4%4.3%
Other Income + 11113129188
Exceptional Items 000000000-1
Interest 991112101313888
Depreciation 11121420121419222524
Profit Before Tax 16171824475336203930
Tax 443613149697
Profit After Tax 13131519353927142923
PAT Margin (%) 2.9%2.7%2.4%2.4%4.0%3.6%2.5%1.3%2.5%1.8%
Adjusted EPS (₹)3.74.14.74.68.59.65.62.96.04.6
Dividend Payout Ratio (%)0%0%0%0%0%10.40%17.90%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 130145163209262303493503534557
Share Capital 666772024242424
Reserves 123139156202255283469479510532
Debt +56597359948560192934
Long Term Debt31323940373440000
Short Term Debt25283419575220192934
Minority Interest0000000000
Trade Payables3960736810599127109125138
Others Liabilities 10252940484555384643
Total Liabilities 235289337376508533734669733771

Fixed Assets

Net Fixed Assets +798499134161188232224246253
Gross Block157173198272286326379385429456
Accumulated Depreciation788998138125138147161183203
CWIP 020000012328
Investments 1326292414127636782
Inventories41536580115120123111128160
Trade Receivables788310691183177197199227207
Cash Equivalents 211210551001316
Others Assets 22313537304155593137
Total Assets 235289337376508533734669733771
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 36441583-345762431754
PBT 16171824475336203930
Adjustment 19202437192629221426
Changes in Working Capital 510-2328-94-785-296
Tax Paid -4-3-4-6-7-15-11-4-7-8
Cash Flow From Investing Activity + -23-30-27-43-5-28-19736-21-34
Capex -23-19-27-32-19-41-51-25-38-59
Net Investments 0-110-121413-147541220
Others 0001001754
Cash Flow From Financing Activity + -14-53-3334-30131-794-15
Net Proceeds from Shares 000000175000
Net Proceeds from Borrowing 517-144-36-4000
Interest Paid -9-9-11-11-10-13-13-8-8-8
Dividend Paid 000000-4-500
Others -1126-21-0-14-33-2712-8
Net Cash Flow -19-86-4-1-4-0-04
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)10.219.569.5910.0114.813.866.732.795.654.14
ROCE (%)13.6713.313.0613.9417.4616.789.995.098.56.56
Asset Turnover Ratio2.11.931.972.21.952.11.71.491.691.72
PAT to CFO Conversion(x)2.773.3814.37-0.971.462.33.070.592.35
Working Capital Days
Receivable Days5957.8055.9045.8057.9060.1063.6069.3065.6060.90
Inventory Days31.9033.9034.8033.7041.2039.2041.3040.9036.7040.60
Payable Days44.1052.6054.8046.4050.5045.6051.8055.8048.6049.40

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Elin Electronics Ltd FAQs

The current trading price of Elin Electronics on 16-Sep-2026 15:32 is ₹88.50.

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 15-Sep-2026 the market cap of Elin Electronics stood at ₹433.0 Cr

The latest P/E ratio of Elin Electronics as of 15-Sep-2026 is 0.00.

The latest P/B ratio of Elin Electronics as of 15-Sep-2026 is 0.96.

The 52-week high of Elin Electronics is ₹233.6 and the 52-week low is ₹86.90.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Elin Electronics is ₹1,021 ( Cr.) .

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

The key valuation ratios of Elin Electronics Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

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

About Elin Electronics Ltd

Elin Electronics Limited was originally incorporated on March 26, 1982 at Kolkata, West Bengal as a private limited company under the Companies Act, 1956, with the name ‘Elin Electronics Private Limited’ pursuant to a certificate of incorporation granted by the Registrar of the Companies, West Bengal at Kolkata (“RoC”). Subsequently, the name of the Company was changed to ‘Elin Electronics Limited’ upon conversion of the Company into a public company pursuant to a special resolution passed by the shareholders on July 27, 1987 and the certificate of incorporation was amended by the RoC consequent upon change of name on conversion to public limited company on November 22, 1987.

Elin Electronics is a leading electronics manufacturing services (EMS) manufacturer of end-to-end product solutions for major brands of lighting, fans, and small/ kitchen appliances in India, and is one of the largest fractional horsepower motors manufacturers in India. In addition, it is one of the key players in LED lighting and flashlight and is also one of the key players in small appliances vertical. The company manufactures and assembles a wide array of products and provides end-to-end product solutions. It serves under both original equipment manufacturers (OEM) and original design manufacturer (ODM) business models. Under the OEM model, it manufactures and supply products basis designs developed by its customers, who then further distribute these products under their own brands. Under the ODM model, in addition to manufacturing, it conceptualizes and designs the products which are then marketed to its customers’ prospective customers under their brands. It has developed ODM capabilities with respect to lighting products and small appliances.

Business area of the company

The company’s key diversified product portfolio in EMS includes (i) LED lighting, fans and switches including lighting products, ceiling, fresh air and TPW fans, and modular switches and sockets; (ii) small appliances such as dry and steam irons, toasters, hand blenders, mixer grinders, hair dryer and hair straightener; (iii) fractional horsepower motors, which is used in mixer grinder, hand blender, wet grinder, chimney, air conditioner, heat convector, TPW fans etc.; and (iv) other miscellaneous products such as terminal block for air conditioners, stainless steel blade for mixer grinders, die casting, radio sets. In addition to its EMS offerings, it also manufactures medical diagnostic cartridges for use in diagnostic devices, and plastic moulded and sheet metal parts and components, largely for customers in the auto ancillary and consumer durables sectors. It manufactures and sells fractional horsepower motors in its own brand name “Elin”. The company offers innovative solutions to its customers, which include leading international and national consumer electronics brands. Its comprehensive solution suite includes global sourcing, fabrication of components and parts, captive manufacturing and assembly, quality testing, packaging and logistics support, which enables it to partner with leading consumer electronics and appliances brands in India.

Key Awards, Accreditations and Recognition

  • 2014: 2013 Regional Cooperation Award by Denso Corporation.
  • 2014: Bronze Supplier Award by IFB Appliances.
  • 2014: Certificate of Appreciation presented by Denso Haryana Private Limited in the category of “Regional Best Supplier”.
  • 2016: Certificate of Appreciation by IFB Appliances in recognition of Company’s Unflinching Support”.
  • 2016: ELCINA-EFYGROUP award for Excellence in Electronics.
  • 2018: Customer First Award presented by Philips at the Philips Lightning Supplier Event India.
  • 2018: Best Supplier Quality Award - Certificate of Appreciation, presented by Daikin Airconditioning India Private Limited, in recognition of outstanding efforts to achieve “Quality Target for FY 2017”.
  • 2022: Appreciation certificate for achieving the stable quality in selected parts from Direct on Line Business Partner from Denso.

Major events and milestones

  • 1969: Establishment of ‘Electronic Industries of India’.
  • 1996: Established plants in Goa for manufacturing appliances for Philips.
  • 2001: Diversified into various categories of motors and started manufacturing luminaires for Philips.
  • 2004: Inaugurated a plant in Baddi for manufacturing appliances.
  • 2007: Manufactured flashlights for Eveready.
  • 2019: Commenced production of fans.
  • 2019: Commenced production of medical diagnostic cartridges.
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