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Swing Capital

Elin Electronics Ltd

NSE: ELIN BSE: 543725

Incorporated in 1982, Elin Electronics Ltd is in the business of Electronics Manufacturing Services[1]

₹116
52W: ₹93.6 — ₹234
PE 18.1 · Book ₹94.3 · +23% vs book
Market Cap₹574 Cr
Stock P/E18.1Price to Earnings
ROCE7.25%Return on Capital
ROE4.39%Return on Equity
Div. Yield0%Face Value ₹5

Strengths

  • +Company is almost debt free.

Weaknesses

  • −The company has delivered a poor sales growth of 9.10% over past five years.
  • −Promoter holding is low: 33.0%
  • −Company has a low return on equity of 4.42% over last 3 years.

Shareholding Pattern

Promoters32.95%
FIIs0.74%
DIIs5.4%
Public60.92%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters33.41%33.41%33.41%32.98%▼0.432.98%32.98%32.98%32.95%▼0.0
FIIs0.97%0.86%▼0.10.38%▼0.50.41%▲0.00.69%▲0.30.78%▲0.10.68%▼0.10.74%▲0.1
DIIs13.1%12.58%▼0.512.06%▼0.510.77%▼1.37.6%▼3.25.53%▼2.16.14%▲0.65.4%▼0.7
Public52.53%53.14%▲0.654.15%▲1.055.84%▲1.758.73%▲2.960.71%▲2.060.2%▼0.560.92%▲0.7

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales217.67190.93218.11238.68237.12224.94244.21240.66280.4249.85
Expenses209.12183.37208.34227.59228.94216.78228224.81263.18238.47
Operating Profit8.557.569.7711.098.188.1616.2115.8517.2211.38
OPM %3.93%3.96%4.48%4.65%3.45%3.63%6.64%6.59%6.14%4.55%
Net Profit3.422.672.534.923.642.838.798.879.074.4
EPS ₹0.690.540.510.990.730.571.771.791.830.89

AI Insights

Revenue Trend

TTM revenue at ₹1,015Cr, up 7.4% YoY. OPM at 6%.

Debt Position

Borrowings at ₹15Cr. Debt-to-equity ratio: 0.03x. Healthy balance sheet.

Capex Cycle

CWIP at ₹11Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.4% (-8.98pp change). FIIs: 0.74% (-0.72pp change). Promoters hold 32.95%.

Margin & Efficiency

ROCE improving from 0% (Mar 2017) to 7% (Mar 2025). Working capital days: 56.

Valuation

PE 18.1x with 7.25% ROCE. Price is 23% above book value of ₹94.3. Dividend yield: 0%.

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