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Elecon Engineering Company Ltd share Price Today

Company details

1,146.10
1,188.60
518.00
1,245.00
6M Return 21.68%
1Y Return 108.08%
Mkt Cap.(Cr) 13,055.59
Volume 421,338
Div Yield 0.17%
OI
-
OI Chg %
-
Volume 421,338

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Industrial Machinery company Elecon Engineering Company announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

Consolidated Financial Highlights:

  • Revenue for Q4FY24 stood at Rs 565 crore as compared to Rs 425crore in Q4FY23
  • EBITDA for Q4FY24 stood at Rs 135 crore as compared to Rs 93 crore in Q4FY23
  • PAT for Q4FY24 stood at Rs 104 crore as compared to Rs 68 crore in Q4FY23

Industrial Gear Division:
• Revenue for Q4FY24 stood at Rs 452 crore as compared to Rs 366 crore in Q4FY23, up by 23% on a YoY basis.
• EBIT for Q4FY24 stood at Rs 115 crore as compared to Rs 78 crore in the corresponding quarter last year, a growth of 47%.

MHE Division:
• Revenue for the quarter stood at Rs 112 crore as compared to Rs 58 crore in the corresponding quarter last year, growing 93% YoY.
• EBIT for Q4 FY24 stood at Rs 26 crore registering a growth of 136% YoY. The EBIT margins stood at 23.4% as against 19.2% in Q4 FY23, an improvement of ~420 bps YoY.

FY24 Financial Highlights:

Industrial Gear Division:

  • Revenue for the year ended March 2024 stood at Rs 1,644 crore, up by 25% on a YoY basis.
  • EBIT for FY24 stood at Rs 420 crore as against Rs 288 crore in FY23, growth of 46% YoY growth. The EBIT Margin for the year ended March 2024 stood at 25.6%.

MHE Division:

  • Revenue for the year ended March 2024 stood at Rs 293 crore, registering a growth of 36% on a YoY basis.
  • The EBIT Margin for the year ended March 2024 stood at 23.3%, an improvement of ~830 bps YoY primarily on account of better product mix & higher contribution from the aftermarket segment.

Commenting on the results, Prayasvin B. Patel, Chairman & Managing Director of Elecon Engineering said, "We are delighted to share that Elecon has delivered its highest ever revenues of Rs 1,937 crore up by 27% YoY and highest ever PAT of Rs 356 crore indicating a growth of 50% YoY for FY24 which is a testament to our commitment to innovation and customer needs. This growth is largely attributable to increased order inflows across industries, increase in wallet share among existing customers & new customer addition. Our performance solidifies our status as the leading domestic player with approximately 39% market share in the
industrial gear segment.

Entering FY25 and beyond, we aim to expand our presence in international markets while reinforcing relationships with current OEM partners and forging new alliances. Concurrently, we recognize India’s vast potential and upswing in capex cycle and are committed to retain our leadership position. At Elecon, innovation remains at the core. We continue to invest in research & development for product enhancement and development to deliver best in class products to our customers.

Our financial achievements in FY24—from record-breaking revenues to robust EBITDA margins—underscore our resilience and strategic vision. With government capital expenditure and emphasis on infrastructure development fueling growth prospects, our tactical focus on exports coupled with rising order inquiries across various products and sectors positions us favorably to grow faster than the industry."

Result PDF

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Elecon Engineering Company Ltd shares SWOT Analysis

Strengths (17)

  • Stock passes majority of CANSLIM Investment criteria
  • Strong Momentum: Price above short, medium and long term moving averages
  • Company with high TTM EPS Growth

Weakness (1)

  • MFs decreased their shareholding last quarter

Opportunity (2)

  • Highest Recovery from 52 Week Low
  • RSI indicating price strength

Threats (2)

  • Promoter decreasing their shareholding
  • Increasing Trend in Non-Core Income

Resistance and support

R1 1,186.1
R2 1,208.6
R3 1,228.6
Pivot

1,166.10

S1 1,143.6
S2 1,123.6
S3 1,101.1
EMA SMA
1,109.2
1,062.8
1,014.0
918.3
1,103.6
1,030.0
1,020.6
935.9
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
HDFC MUTUAL FUND-HDFC MULTI CAP FUND Bulk Purchase 2021-12-28 176.8 2020682 NSE
HDFC MUTUAL FUND-HDFC EQUITY SAVINGS FUND Bulk Sell 2021-12-28 176.8 1857100 NSE
ADROIT FINANCIAL SERVICES PRIVATE LIMITED Bulk Purchase 2021-07-01 135.85 658153 BSE
Name Category Shares
Prayasvin Bhanubhai Patel PROMOTER 1.75%
Trupti Pradip Patel PROMOTER 1.28%
Akanksha Patel PROMOTER 0.55%
Aakaaish Investments Private Limited PROMOTER 46.62%
K B Investments Private Limited PROMOTER 8.67%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Elecon Engineering Company Ltd Stocks COMPARISON

Financials( in Cr) Elecon Engineering Company Ltd Cummins India Ltd Thermax Ltd Carborundum Universal Ltd Grindwell Norton Ltd
Price 1,163.60 3,805.25 5,295.70 1,618.00 2,330.90
% Change 1.54 2.46 2.96 -2.09 -1.83
Mcap Cr 13,055.59 105,481.53 63,101.44 30,783.74 25,807.72
Revenue TTM Cr 1,529.68 7,772.09 8,089.81 4,654.28 2,012.76
Net Profit TTM Cr 237.49 1,228.15 450.70 441.70 295.08
PE TTM 36.69 68.87 107.06 66.86 67.18
1 Year Return 108.08 138.53 137.48 38.47 13.96
ROCE 23.99 26.89 14.53 20.69 27.49
ROE 20.39 22.53 12.25 17.04 20.97
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 1,279.11 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 35,090.66 -22,978.04
LAST 3M 106,793.94 -34,010.07
LAST 6M 169,541.16 45,373.47
LAST 12M 268,709.66 125,819.23

Elecon Engineering Company Ltd Information

Stock PE (TTM)
36.69
Promoter Holding
59.27%
Book Value
142.9617
ROCE
23.99%
ROE
20.39%
Description
  • Elecon Engineering Company Ltd is a leading manufacture of mission critical Material Handling Equipment and Power Transmission Solution. The Company is involved in design and manufacturing of Material Handling Equipment and Industrial Gears and involved in providing erection and commissioning solutions for its products. The Company designs, manufactures and markets sophisticated range of products through their network spread across India and through foreign equity participating companies in Singapore, Australia, South Africa, China and Dubai in the Middle East. The company`s product range includes designing, engineering, manufacturing, supply, erection and commission of wagon tipplers, bucket wheel stacker or reclaimers, barrel-type blender reclaimers, fertilizer reclaiming scrapers, limestone pre-homegenizing and blending plants etc. The company is the first company in India to have manufactured sophisticated equipment for Bulk Material Handling. Elecon Engineering Company Ltd was established in the year 1951. The company is the pioneer, in the manufacture of material handling equipment in India. The company developed and perfected their skills in design, manufacture, erection and commissioning of coal handling plants. Over the years, they expanded their skills and expertise for designing and execution of turnkey contracts. In the year 1984, the company received government approval for their diversification into the manufacture of 1000 hydraulic fluid couplings per annum and in June 1987, Elecon (Madras) Ltd, a wholly owned subsidiary company merged with the company. During the year 1997-98, the company in technical collaboration with a Japanese company floated a new company to manufacture geared motors and gear reducers. Also, they formed a joint venture with German company. The commercial production was started in March 1999. During the year 1998-99, the company launched POSIRED 2 Helical/Bevel Gears in technical collaboration with P I V Antrieb Werner Reimers GmbH & Co KG, Germany. Also, they launched Super NU Universal Mounting Worm Gears during the year. During the year 2000-01, the company set up a wholly owned subsidiary company at Singapore namely Elecon Singapore Pte Ltd with a view to develop the export market for the company`s products in the South East Asian countries and during the year 2001-02, they set up another wholly owned subsidiary at Australia namely Elecon Australia Pte Ltd with a view to develop the export market for the company products in Australia. During the year 2002-03, the company entered into an agreement for transfer of 50% of the equity share in their subsidiaries at Singapore and Australia to Emitici Engineering Ltd. In view of this, Elecon Singapore Pte Ltd and Elecon Australia Pty Ltd are no more subsidiaries of the company. The company in technical collaboration with RENK, Germany delivered their first shipset against the order of three shipsets from Mazgaon Dock Ltd for the Indian Navy`s Stealth Frigate. During the year 2003-04, the company bagged an order from Maharashtra State Electricity Board for their Parli project worth Rs 58 crores. Also, they received orders for manufacture of certain gear components from one of the largest Gear manufacturers in the world. During the year 2005-06, the company entered into Technical Collaboration Agreement with Turbowinds N V of Belgium for import of technology to manufacture Wind Electric Generators. Also, they invested in 3 equity shares of AED 1,00,000 aggregating to AED 3,00,000 in Elecon Middle East FZCO, at Dubai Airport Free Trade Zone. During the year 2006-07, the company signed a technical collaboration with Haisung Industrial System Company Ltd of Korea to design and manufacture high speed and capacity lift gearboxes. Also, they signed a technical collaboration agreement with RENK AG of Germany for availing technology for design and manufacture of Vertical Roller Mill Gear Boxes. During the year 2007-08, the company set up Wind Turbine Generator farms and manufacturing of Wind Turbine Generator Gear Boxes with a strategy of diversification. They developed a Wind Farm in Gujarat where 6 Wind Turbine Generators having the capacity of 600 KW was commissioned. Also, they supplied 4 Wind Turbine Generators equipments having the capacity of 600 KW each in Maharashtra. During the year 2008-09, the Company installed 5 WTGs in Gujarat and supplied 1 WTG to North America. In October 2010, Company acquired the Benzlers-Radicon Group, the power transmission business of UK-based David Brown Ltd. to expand its reach in international market. During 2011-12, the Company formed a private Company; Excel EPC Projects Pvt. Ltd. on 30 May, 2012 as its Wholly-Owned Subsidiary Company. Later, the Company sold its entire shareholding in Excel EPC Projects Pvt. Ltd. to two of the promoters of the Company. During 2011-12, the Hon`ble High Court of Gujarat, vide its orders dated December 21, 2012 sanctioned Scheme of Arrangement between Prayas Engineering Limited (First Demerged Company or PEL) and EMTICI Engineering Limited (Second Demerged Company or EMTICI) and Elecon Engineering Company Limited (First Resulting Company or EECL) and Elecon EPC Projects Limited (Second Resulting Company or EPL) and their respective Shareholders and Creditors, which inter alia, envisaged for i) transfer of MHE Undertaking of Elecon Engineering Company Limited to Elecon EPC Projects Limited, a Subsidiary Company of the Company by way of slump sale and ii) transfer of GEAR business of Prayas Engineering Limited and EMTICI Engineering Limited to Elecon Engineering Company Limited by way of demerger, which became effective on 1st April, 2013 from the Appointed date of the Scheme, April 1, 2012. During 2012-13, the Company transferred its MHE Div. by way of slump sale to its Subsidiary Company for a total cash consideration of Rs 127.32 Crs. By virtue of Scheme of Arrangement, all the MHE business of Elecon Engineering Company Limited was transferred to Elecon EPC Projects Limited. By virtue of the Scheme of Arrangement, GEAR businesses of two Group Companies i.e. Prayas Engineering Ltd. and Emtici Engineering Ltd., merged into the Company during 2013. By virtue of the aforesaid High Court order, all assets, liabilities, facilities, workforce, contracts, rights, obligations, qualifications, etc. (except land and buildings) of GEAR business of Prayas Engineering Ltd. and Emtici Engineering Ltd. stands transferred to Elecon Engineering Company Limited. During 2016-17, the Hon`ble High Court of Gujarat, vide its Orders dated October 7, 2016 approved the Scheme of Arrangement of Elecon EPC Projects Limited (Transferor Company) with the Company and their respective Shareholders and Creditors, which was effective on October 24, 2016 and as a result, Elecon EPC Projects Limited ceased to be a Subsidiary Company of the Company.

Registered Address

Anand-Sojitra Road, Post Box No 6, Vallabh Vidyanagar, Gujarat, 388120

Tel : 91-2692-236469/236513
Email : blisarani:elecon.com; investor.relations:elecon.co
Website : http://www.elecon.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Jun
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 505700
NSE Code : ELECON
Book Closure Date (Month) : Jun
BSE Group : A
ISIN : INE205B01023

FAQ’s on Elecon Engineering Company Ltd Shares

You can buy Elecon Engineering Company Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Elecon Engineering Company Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 27, 2024 03:56 PM the closing price of Elecon Engineering Company Ltd was Rs.1,163.60.

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 May 27, 2024 03:56 PM, the market cap of Elecon Engineering Company Ltd stood at Rs. 13,055.59.

The latest PE ratio of Elecon Engineering Company Ltd as of May 27, 2024 03:56 PM is 36.69

The latest PB ratio of Elecon Engineering Company Ltd as of May 27, 2024 03:56 PM is 0.12

The 52-week high of Elecon Engineering Company Ltd share price is Rs. 1,245.00 while the 52-week low is Rs. 518.00

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