Elecon Engineering Company Ltd Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book

Published 4 Aug 2026 | Electrical Equipment | Market Cap: ₹9.8K Cr

Elecon Engineering targets consolidated revenue of INR 2,650 crores for FY '26, up from INR 2,227 crores in FY '25, reflecting ~19% growth. - Gear division is expected to generate INR 2,000 crores; Material Handling Equipment (MHE) division INR 650 crores. - Overseas revenue expected to contribute 27%-30% of total revenue, including exports from India and subsidiaries. - MHE division anticipated to sustain growth with order book of INR 365 crores and expected continued demand from new power plants. - Solid order book (nearly INR 948 crores combined for gears and MHE) provides strong revenue visibility. - Expansion planned in international markets including Middle East, Americas (Canada, South America), Far East, and Europe. - Focus on tapping more OEM partnerships to drive sustainable growth and after-sales service revenue streams. - Capex of approx. For FY'26, Elecon Engineering projects consolidated revenue of INR 2,650 crores, up from INR 2,227 crores in FY'25.

From Elecon Engineering Company Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Price

₹452

Market Cap

₹9.8K Cr

P/E Ratio

32.3

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Elecon Engineering Company Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹746 Cr, net profit ₹6 Cr.

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📊 Revenue & Sales Performance

→Elecon Engineering targets consolidated revenue of INR 2,650 crores for FY '26, up from INR 2,227 crores in FY '25, reflecting ~19% growth.
→Gear division is expected to generate INR 2,000 crores; Material Handling Equipment (MHE) division INR 650 crores.
→Overseas revenue expected to contribute 27%-30% of total revenue, including exports from India and subsidiaries.
→MHE division anticipated to sustain growth with order book of INR 365 crores and expected continued demand from new power plants.
→Solid order book (nearly INR 948 crores combined for gears and MHE) provides strong revenue visibility.
→Expansion planned in international markets including Middle East, Americas (Canada, South America), Far East, and Europe.
→Focus on tapping more OEM partnerships to drive sustainable growth and after-sales service revenue streams.
→Capex of approx. INR 300 crores expected to generate additional revenue of INR 500 crores over the next years.

📈 Profitability & Margins

- For FY'26, Elecon Engineering projects consolidated revenue of INR 2,650 crores, up from INR 2,227 crores in FY'25. - EBITDA margin guidance for FY'26 is at 24%, reflecting confidence in operational strength. - EBIT margins expected to stabilize: Gear division at ~25.5%, MHE division at ~23%. - PAT growth is expected to continue supported by operational efficiencies and healthy order books (INR 948 crores total as of March 2025). - EPS expected to improve in line with profit growth, supported by dividend policy (increased dividend payout reflecting strong cash flows). - Management emphasizes sustainable, disciplined growth without capacity constraints. - Continued robust demand, especially in steel, power, cement sectors. - Overseas business targeted to grow to 27-30% of revenue, supporting topline improvement. - Capex planned between INR 100-200 crores yearly to support growth without raising leverage. - Cash reserves retained as a “war chest” for growth opportunities and contingencies. Overall, Elecon expects strong, sustainable earnings growth driven by diverse markets and controlled costs.

🏗️ Capital Expenditure Plans

→The company invested nearly INR 160 crores in FY '25 for capex, including lease assets treated as right-of-use assets under IndAS accounting.
→The planned capex over the last 3 years totals INR 300 crores, expected to generate additional revenue of INR 500 crores.
→Capex plan is well-planned considering machine lead times and revenue projections, with no expected capacity constraints.
→Lease liabilities have increased significantly due to assets acquired on lease, which are included in overall capex but not reflected in cash flow as per IndAS guidelines.
→For FY '26, planned capex is estimated between INR 100 crores to INR 200 crores.
→Additional cash reserves are maintained for contingencies, global business, and potential capex.
→Management is also exploring alternative options for capex funding.
→A "war chest" of cash is being preserved for future strategic opportunities.
→Expansion plans include potential setups in Canada, Mexico, and Latin America to circumvent U.S. tariffs and grow presence.

💰 Fundraising & Capital Structure

→There is no mention of any current or planned fundraising through equity in the call transcript.
→The company has a strong cash position with a consolidated net free cash surplus of approximately INR 550 crores as of March 31, 2025.
→Management indicated having no debt currently, and there was no specific discussion on raising new debt.
→Capex plans for the near term are moderate (INR 100-200 crores per year) and are being managed through a mix of cash reserves and lease assets.
→The cash on the balance sheet is being held partly as a contingency war chest to seize future opportunities and for capex needs.
→No plans were mentioned to dilute equity or raise fresh funds; the focus is on disciplined capital allocation and leveraging existing financial strength.

📋 Order Book & Pipeline

→As of March 31, 2025, the outstanding order book for the Gear Division stands at INR 583 crores.
→The Material Handling Equipment (MHE) division's open order book is INR 365 crores as of the same date.
→Total pending orders across both divisions amount to INR 948 crores.
→The order intake for the Gear Division in Q4 FY'25 was INR 497 crores, reflecting a 20.6% year-on-year increase.
→MHE division's order inflow for Q4 FY'25 stood at INR 148 crores, up 2.8% year-on-year.
→The strong order book positions Elecon for sustainable growth in upcoming quarters, supported by healthy demand in both domestic and international markets.

Key Metrics

What Elecon Engineering Company Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Elecon Engineering Company Ltd Q4 FY25 results?

What is Elecon Engineering Company Ltd share price analysis?

Elecon Engineering Company Ltd currently shows a neutral. The stock trades at a P/E of 32.3 with a market cap of ₹9,768 Cr. Investors should review the full earnings analysis for detailed insights.

Is Elecon Engineering Company Ltd planning capital expenditure?

The company invested nearly INR 160 crores in FY '25 for capex, including lease assets treated as right-of-use assets under IndAS accounting. - The planned capex over the last 3 years totals INR 300 crores, expected to generate additional revenue of INR 500 crores. - Capex plan is well-planned considering machine lead times and revenue projections, with no expected capacity constraints. - Lease liabilities have increased significantly due to assets acquired on lease, which are included in overall capex but not reflected in cash flow as per IndAS guidelines. - For FY '26, planned capex is estimated between INR 100 crores to INR 200 crores. - Additional cash reserves are maintained for contingencies, global business, and potential capex. - Management is also exploring alternative options for capex funding. - A "war chest" of cash is being preserved for future strategic opportunities. - Expansion plans include potential setups in Canada, Mexico, and Latin America to circumvent U.S.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.