Arthneeti

Elecon Engineering Company Q2 FY27 Share Price & Earnings Call Analysis

₹437.50+1.89% today
Market cap
₹9,817 Cr
P/E
31.57
ROE
16.43%
PEG
2.26
Price to sales
3.99
Debt to equity
0.14
52W high / low
₹569 / ₹355
Sales growth (5Y)
17.77%
EBITDA margin
21.34%
Net profit margin
14.95%
Promoter holding
59.27%
Sales (last year)
₹2,457 Cr

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]

Guidance scorecard · Q2 FY27 call

What Elecon Engg.Co's management guided
and where it ranks in Electrical Equipment

#51of 58 in
Electrical Equipment
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookRising

RevenueQ1 FY27 call

10–20%
  • Elecon projects low double-digit consolidated revenue growth for FY27, adopting a conservative approach due to current macroeconomic uncertainties and limited near-term visibility.
  • By FY30, the company aims to achieve a top-line revenue target of INR 5000 crores, supported by large marine enquiries, export expansion, and ongoing capex plans.
  • Gear division is expected to constitute 70%-75% of total revenue by FY30, with MHE contributing 25%-30%.
  • The order book remains robust, with strong execution expected particularly in Q3 and Q4 FY27.

2 more points from Elecon Engg.Co's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Elecon Engg.Co said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Elecon Engineering has committed to a capital expenditure program of approximately INR 400 crores over FY26 to FY28.
  • The capex program is on track as of July 2026.
  • Internally, the company is evaluating additional capex proposals that will require board approval in the near future.
  • The focus of future capex aligns with targeting large enquiries in the marine sector and expansion into export territories.

2 more points from Elecon Engg.Co's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Elecon Engg.Co said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • Gear Division open order book: INR 1,050 crores (as of July 2026), with INR 160 crores extending beyond FY27; represents 46.9% year-on-year growth.
  • MHE Division open order book: INR 475 crores as of June 30, 2026, up 18.8% year-on-year.
  • Overseas order book: INR 256 crores (as of June 30, 2026), increased 73% year-on-year.

2 more points from Elecon Engg.Co's call on the order book

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Full Q1 FY27 analysis
Full Electrical Equipment ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Electrical Equipment
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Elecon Engg.Co rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Electrical Equipment companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹72,673 Cr18.1
240%+Up 2%+₹21,700 Cr158.1
340%+Up 2%+₹491 Cr12.2
440%+Up 0–2%₹12,434 Cr48.4
540%+Up 0–2%₹2,042 Cr35.4
640%+Up 0–2%₹529 Cr7.0

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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment ranking

Financials of Elecon Engg.Co

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Elecon Engg.Co

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +424.54414.34484.90473.56564.62392.36508.14528.89797.57490.57578.13551.74745.61
Expenses +331.69314.37366.16353.17429.26299.98395.84386.31602.24360.27452.49442.56587.59
Operating Profit92.8599.97118.74120.39135.3692.38112.30142.58195.33130.30125.64109.18158.02
OPM %21.87%24.13%24.49%25.42%23.97%23.54%22.10%26.96%24.49%26.56%21.73%19.79%21.19%
Other Income +9.449.3914.3411.2315.5116.8913.5616.6621.07107.5118.3218.85-84.20
Interest4.602.472.631.492.052.292.193.465.106.155.696.826.25
Depreciation13.6012.4213.2812.6412.5812.8313.1315.5419.2624.5425.2827.2427.18
Profit before tax84.0994.47117.17117.49136.2494.15110.54140.24192.04207.12112.9993.9740.39
Tax %19.21%22.77%24.41%23.06%23.92%22.08%20.64%23.32%23.72%15.30%22.36%23.39%85.14%
Net Profit +67.9472.9688.5790.40103.6573.3687.72107.54146.48175.4487.7271.996.00
EPS in Rs3.033.253.954.034.623.273.914.796.537.823.913.210.27

Financials of Elecon Engg.Co

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1,3291,2801,2021,1801,2251,0881,0441,2121,5301,9372,2272,366
Expenses +1,1531,1051,0271,0551,0849478589601,1891,4631,6841,843
Operating Profit176176175126140142186252341475543523
OPM %13%14%15%11%11%13%18%21%22%24%24%22%
Other Income +17291286998522506860
Interest87839075747860381491325
Depreciation7262535348535249495161104
Profit before tax3460446882081171300465537454
Tax %49%37%75%-33%21%-360%29%18%21%24%23%25%
Net Profit +1737117709058140238356415341
EPS in Rs0.751.720.480.333.124.002.576.2610.5815.8518.5015.20
Dividend Payout %73%32%52%30%3%0%8%11%9%9%11%13%

Financials of Elecon Engg.Co

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital222222222222222222222222
Reserves5146826876867468328971,0281,2571,5821,9762,283
Borrowings +5526295835905484833351515270181273
Other Liabilities +877870794857849792733513399449550655
Total Liabilities1,9642,2032,0872,1562,1652,1291,9881,7151,7302,1232,7293,234
Fixed Assets +523898861834799799758739754769914930
CWIP4821500101723
Investments154949515453535477286496743
Other Assets +1,4221,2481,1751,2701,3071,2771,1769218991,0671,3131,538
Total Assets1,9642,2032,0872,1562,1652,1291,9881,7151,7302,1232,7293,234

Financials of Elecon Engg.Co

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +177121887087222248223309365432314
Cash from Investing Activity +07-7-5140-25-1915-166-279-316-220
Cash from Financing Activity +-168-5-134-64-118-176-210-250-145-58-67-122
Net Cash Flow91447-4492119-12-22749-27
Free Cash Flow1771618052103209245209263339368218
CFO/OP113%25%111%55%67%160%133%101%110%100%103%81%

Financials of Elecon Engg.Co

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days2362011912081772051771258284101111
Inventory Days187218203189206248188167142978698
Days Payable278331326295259420319173100809994
Cash Conversion Cycle1458869102124334611912510287115
Working Capital Days66-11-27150385471756763166
ROCE %10%10%10%6%10%7%11%17%25%31%28%21%

Guidance history

How Elecon Engg.Co's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlannedRising
Q4 FY26 call →0–10%FlatPlanned—Rising
Q3 FY26 call →20–40%FlatPlanned—Rising
Q2 FY26 call →10–20%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

20out of 100

Momentum score · price trend

20 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−21.9%34%
Last 6 months−13.6%30%
Last 3 months+4.9%72%

The price is 37.1% below its all-time high of ₹695.25 (27 Sept 2024). Stocks more than 20% below their peak have their score halved, so 40 became 20.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Elecon Engg.Co: 0.4 × 34 + 0.4 × 30 + 0.2 × 72 = 40, halved to 20 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Elecon Engg.Co's management said in earlier quarters

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