Elecon Engineering Co. Ltd. (IN:ELECON)
:ELECON
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Elecon Engineering Co. Ltd.
(ELECON)
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Rating:73Outperform
Price Target:
₹433.00
▼(-16.34% Downside)
Action:ReiteratedDate:02/04/26
The score is primarily driven by strong financial performance (growth, margins, low leverage, and solid cash generation). Offsetting this is a weaker technical picture with the stock trading below key medium/long-term moving averages and a negative MACD. Valuation is supportive but not a major upside catalyst given the modest dividend yield.
Positive Factors
High Profitability
Sustained high gross and EBIT margins indicate durable pricing power and operational efficiency in engineered products. These margins support reinvestment, withstand input-cost volatility, and preserve long-term earnings quality across project and catalog businesses, reinforcing competitive position.
Negative Factors
Cyclicality of Demand
Revenue and order visibility are tied to industrial capex cycles across end markets, making top-line and backlog prone to multi-quarter swings. Prolonged capex slowdowns can compress utilization, delay recognition, and weaken long-term revenue predictability.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained high gross and EBIT margins indicate durable pricing power and operational efficiency in engineered products. These margins support reinvestment, withstand input-cost volatility, and preserve long-term earnings quality across project and catalog businesses, reinforcing competitive position.
Read all positive factors
Elecon Engineering Co. Ltd. (ELECON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹87.22B
Dividend Yield0.41%
Average Volume (3M)47.36K
Price to Earnings (P/E)37.5
Beta (1Y)1.84
Revenue Growth20.94%
EPS Growth45.63%
CountryIN
Employees1,974
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)3.20
Shares Outstanding224,399,930
10 Day Avg. Volume66,917
30 Day Avg. Volume47,361
Financial Highlights & Ratios
PEG Ratio1.44
Price to Book (P/B)5.01
Price to Sales (P/S)4.49
P/FCF Ratio27.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)22.47
Revenue Forecast (FY)₹29.15B
Elecon Engineering Co. Ltd. Business Overview & Revenue Model
Company Description
Elecon Engineering Company Limited manufactures and sells power transmission and material handling equipment in India and internationally. The company operates in two segments, Material Handling Equipment and Transmission Equipment. It provides he...
How the Company Makes Money
ELECON makes money primarily by selling engineered industrial equipment and related services across two main businesses. (1) Material Handling Equipment (MHE): Revenue is generated from designing, manufacturing, supplying, erecting, and commission...
Elecon Engineering Co. Ltd. Financial Statement Overview
Summary
Income Statement
90
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
85
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.95B | 22.27B | 19.37B | 15.30B | 12.12B | 10.44B |
| Gross Profit | 10.71B | 9.89B | 8.83B | 6.66B | 5.31B | 4.66B |
| EBITDA | 5.72B | 5.28B | 4.72B | 3.33B | 2.49B | 1.81B |
| Net Income | 5.17B | 4.15B | 3.56B | 2.38B | 1.40B | 576.31M |
Balance Sheet | ||||||
| Total Assets | 29.96B | 27.29B | 21.24B | 17.32B | 17.18B | 19.93B |
| Cash, Cash Equivalents and Short-Term Investments | 8.19B | 7.25B | 4.78B | 2.29B | 871.86M | 1.41B |
| Total Debt | 2.58B | 1.81B | 704.60M | 515.76M | 1.51B | 3.35B |
| Total Liabilities | 7.52B | 7.31B | 5.20B | 4.53B | 6.68B | 10.73B |
| Stockholders Equity | 22.44B | 19.99B | 16.04B | 12.79B | 10.50B | 9.19B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.66B | 3.33B | 2.63B | 2.01B | 2.44B |
| Operating Cash Flow | 0.00 | 4.32B | 3.65B | 3.10B | 2.50B | 2.48B |
| Investing Cash Flow | 0.00 | -3.16B | -2.79B | -1.67B | -118.46M | -186.78M |
| Financing Cash Flow | 0.00 | -673.70M | -585.10M | -1.45B | -2.50B | -2.10B |
Elecon Engineering Co. Ltd. Technical Analysis
Negative
517.60
Price Trends
407.31
Negative
449.93
Negative
520.58
Negative
Market Momentum
-12.39
Positive
45.00
Neutral
20.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ELECON, the sentiment is Negative. The current price of 517.6 is above the 20-day moving average (MA) of 388.96, above the 50-day MA of 407.31, and below the 200-day MA of 520.58, indicating a bearish trend. The MACD of -12.39 indicates Positive momentum. The RSI at 45.00 is Neutral, neither overbought nor oversold. The STOCH value of 20.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ELECON.
Elecon Engineering Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹87.22B | 37.50 | ― | 0.41% | 20.94% | 45.63% | |
66 Neutral | ₹152.20B | 39.31 | ― | 0.47% | 9.46% | 18.97% | |
66 Neutral | ₹115.31B | 38.39 | ― | 2.34% | 5.68% | 9.74% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ₹146.03B | 48.57 | ― | 0.51% | 9.50% | 14.52% | |
59 Neutral | ₹162.14B | 42.81 | ― | 0.07% | 54.58% | -12.30% | |
58 Neutral | ₹67.22B | 24.01 | ― | 0.59% | -4.14% | -35.66% |
* Industrials Sector Average
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Elecon Engineering Co. Ltd. Corporate Events
Elecon Reschedules Analyst and Investor Meet by One Day
Mar 10, 2026
Elecon Engineering Company Limited has notified the stock exchanges that its planned analyst and institutional investor meeting has been postponed by one day, from 12 March 2026 to 13 March 2026, due to unforeseen exigencies. The company stated th...
Elecon Engineering Schedules Analyst Plant Visit Under SEBI Disclosure Norms
Mar 10, 2026
Elecon Engineering Company Limited has announced that its officials will host a group plant visit for analysts and institutional investors on March 13, 2026, from 3:00 p.m. IST onwards, organized by Share India Securities Limited. The company emph...
Elecon Engineering Releases Q3 & 9M FY26 Investor Presentation Ahead of Earnings Call
Jan 8, 2026
Elecon Engineering Company Limited has released its investor presentation for the third quarter and nine-month period of the 2025-26 financial year, ahead of its scheduled earnings conference call on 9 January 2026. The presentation, now available...
Elecon Engineering Wins Favourable Order in CGST Transport Dispute
Jan 8, 2026
Elecon Engineering Company Limited has received a favourable order from the Office of the Deputy Commissioner of State Tax (Appeal), Vadodara, which approved the company’s appeal against an earlier order by the State Tax Officer related to t...
Elecon Engineering Schedules Earnings Call to Discuss Q3 FY26 Performance
Jan 6, 2026
Elecon Engineering Company Limited has announced that Elara Securities (India) Private Limited will host an earnings conference call on 9 January 2026 to discuss the company’s financial performance for the quarter and nine months ended 31 De...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.