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Swing Capital

Elecon Engineering Company Ltd

NSE: ELECON BSE: 505700Metal

Elecon Engineering Company Ltd., incorporated in 1960. Company manufactures and sells power transmission and material handling equipment in India and internationally. In addition, it engages in the steel and non-ferrous foundry business. [1]

₹483
52W: ₹352 — ₹717
PE 30.6 · Book ₹91.3 · +429% vs book
Market Cap₹10,843 Cr
Stock P/E30.6Price to Earnings
ROCE22.4%Return on Capital
ROE19.2%Return on Equity
Div. Yield0.42%Face Value ₹1

Strengths

  • +Company has delivered good profit growth of 57.7% CAGR over last 5 years

Weaknesses

  • −Earnings include an other income of Rs.225 Cr.
  • −Working capital days have increased from 103 days to 178 days

Shareholding Pattern

Promoters59.28%
FIIs7.13%
DIIs5.67%
Public27.89%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters59.28%59.28%59.28%59.28%59.28%59.28%59.28%59.28%
FIIs9.1%9.84%▲0.79.73%▼0.18.65%▼1.19.61%▲1.08.31%▼1.38.09%▼0.27.13%▼1.0
DIIs2.55%2.97%▲0.43.67%▲0.74.39%▲0.73.8%▼0.64.13%▲0.34.48%▲0.45.67%▲1.2
Public29.07%27.91%▼1.227.3%▼0.627.65%▲0.327.28%▼0.428.25%▲1.028.11%▼0.127.89%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales383485293419446713410496454656
Expenses282368221328320539288383359511
Operating Profit101118739112717412211395144
OPM %26%24%25%22%28%24%30%23%21%22%
Net Profit7687556792125239796297
EPS ₹3.43.872.462.994.15.5910.653.522.764.32

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,016Cr, up 7.7% YoY. OPM at 24%.

Debt Position

Borrowings at ₹244Cr. Debt-to-equity ratio: 0.12x. Healthy balance sheet.

Capex Cycle

CWIP at ₹23Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.67% (+3.65pp change). FIIs: 7.13% (+4.32pp change). Promoters hold 59.28%.

Margin & Efficiency

ROCE improving from 9% (Mar 2015) to 22% (Mar 2026). Working capital days: 178.

Valuation

PE 30.6x with 22.4% ROCE. Price is 429% above book value of ₹91.3. Dividend yield: 0.42%.

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