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Swing Capital

Elantas Beck India Ltd

NSE: ELANTAS BSE: 500123Infra

ELANTAS Beck India Limited is engaged in manufacturing a wide range of specialty chemicals in the electrical insulation and construction industries. It is a part of ALTANA, an international specialty chemicals group. [1]

₹9,050
52W: ₹7111 — ₹14250
PE 49.2 · Book ₹1272 · +611% vs book
Market Cap₹7,174 Cr
Stock P/E49.2Price to Earnings
ROCE21.2%Return on Capital
ROE15.7%Return on Equity
Div. Yield0.08%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 19.1% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 7.08 times its book value

Shareholding Pattern

Promoters75%
FIIs0.04%
DIIs12.25%
Public12.71%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75%75%75%75%75%75%75%75%
FIIs0.67%0.67%0.67%0.51%▼0.20.04%▼0.50.04%0.04%0.04%
DIIs11.91%11.88%▼0.011.71%▼0.211.71%12.17%▲0.512.17%12.21%▲0.012.25%▲0.0
Public12.43%12.44%▲0.012.63%▲0.212.78%▲0.112.79%▲0.012.79%12.75%▼0.012.71%▼0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales174177191184197206210217215222
Expenses138139153150162166170169170179
Operating Profit36383933354040474543
OPM %20%21%20%18%18%20%19%22%21%20%
Net Profit37374231303339363931
EPS ₹46.6746.5652.7939.1937.5141.4649.5645.7449.6639.2

AI Insights

Revenue Trend

TTM revenue at ₹864Cr, up 1.9% YoY. OPM at 20%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹8Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 12.25% (+0.75pp change). FIIs: 0.04% (-0.70pp change). Promoters hold 75%.

Margin & Efficiency

ROCE declining from 35% (Dec 2014) to 21% (Dec 2025). Working capital days: 56.

Valuation

PE 49.2x with 21.2% ROCE. Price is 611% above book value of ₹1,272. Dividend yield: 0.08%.

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