BSE: 505700 | NSE: ELECON | Engineering - Industrial Equipments | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Elecon Engineering Company Ltd is a average quality company.
The key valuation ratios of Elecon Engineering Company Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Elecon Engineering Company Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 10.3% | 12.3% | 10.1% | 6% | 7.6% | 6.1% | 10.4% | 15.2% | 24.8% | 34% | - |
| Value Creation Index ⓘ | -0.3 | -0.1 | -0.3 | -0.6 | -0.5 | -0.6 | -0.3 | 0.1 | 0.8 | 1.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 503 | 980 | 923 | 911 | 955 | 836 | 796 | 893 | 1,197 | 1,600 | 1,581 |
| Sales YoY Gr. | - | 94.7% | -5.7% | -1.3% | 4.9% | -12.5% | -4.7% | 12.2% | 34.1% | 33.6% | - |
| Adj EPS ⓘ | 1.2 | 1.1 | 1.1 | 0.3 | 0.5 | 3.2 | 1.6 | 4.4 | 8.3 | 13.2 | 12.7 |
| YoY Gr. | - | -5.9% | -5.4% | -76.2% | 112% | 509.4% | -50.8% | 178.6% | 88.3% | 58.5% | - |
| BVPS (₹) ⓘ | 23.4 | 33.2 | 32.5 | 32.6 | 33 | 34.9 | 36.5 | 40.4 | 48.1 | 60.1 | 64.4 |
| Adj Net Profit ⓘ | 25.8 | 24.1 | 23.6 | 5.7 | 11.9 | 72.5 | 35.8 | 99.4 | 187 | 297 | 285 |
| Cash Flow from Ops. ⓘ | 218 | 12.8 | 196 | 106 | 71 | 170 | 220 | 178 | 294 | 235 | - |
| Debt/CF from Ops. ⓘ | 1.1 | 44.3 | 2.4 | 4.7 | 6.7 | 2.1 | 1 | 0.6 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 13.7% | 10.9% | 26.2% | 33.6% | ||||
| Adj EPS ⓘ | 30.8% | 90.3% | 102.6% | 58.5% | ||||
| BVPSⓘ | 11% | 12.7% | 18% | 24.8% | ||||
| Share Price | 35.8% | 102.5% | 83.6% | 26.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 5.2 | 3.9 | 3.3 | 0.8 | 1.6 | 9.5 | 4.5 | 11.5 | 18.8 | 24.4 | 20.4 |
| Op. Profit Mgn % ⓘ | 21.2 | 16 | 18.4 | 12.1 | 8.6 | 9.7 | 8.9 | 20.5 | 23.1 | 25.9 | 24.2 |
| Net Profit Mgn % ⓘ | 5.1 | 2.5 | 2.6 | 0.6 | 1.2 | 8.7 | 4.5 | 11.1 | 15.6 | 18.5 | 18.1 |
| Debt to Equity ⓘ | 0.5 | 0.8 | 0.6 | 0.7 | 0.6 | 0.5 | 0.3 | 0.1 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 389 | 268 | 368 | 399 | 408 | 466 | 449 | 329 | 187 | 139 | 100 |
| Cash Conv. Cycle ⓘ | 29 | 82 | 132 | 158 | 150 | 135 | 85 | 94 | 84 | 68 | 65 |
Return on Equity has increased versus last 3 years average to 20.40%
Sales growth is growing at healthy rate in last 3 years 26.19%
Net Profit is growing at healthy rate in last 3 years 102.59%
Sales growth is good in last 4 quarters at 16.56%
No data to display
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 12.7 | 15.8 |
| TTM Sales (₹ Cr.) | 1,581 | 1,939 |
| BVPS (₹.) ⓘ | 64.4 | 78.2 |
| Reserves (₹ Cr.) ⓘ | 1,424 | 1,732 |
| P/BV ⓘ | 8.87 | 7.31 |
| PE ⓘ | 44.92 | 36.11 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 395.05 / 738.85 |
| All Time Low / High (₹) | 0.23 / 738.85 |
| Market Cap (₹ Cr.) | 12,823 |
| Equity (₹ Cr.) | 22.4 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 57.5 |
| Pledged * | 3.76 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 503 | 980 | 923 | 911 | 955 | 836 | 796 | 893 | 1,197 | 1,600 |
| Operating Expenses ⓘ | 397 | 829 | 757 | 801 | 874 | 758 | 725 | 715 | 922 | 1,186 |
| Manufacturing Costs | 64 | 195 | 172 | 222 | 226 | 156 | 89 | 110 | 150 | 191 |
| Material Costs | 228 | 432 | 383 | 402 | 424 | 379 | 363 | 418 | 548 | 711 |
| Employee Cost | 37 | 83 | 85 | 66 | 73 | 71 | 64 | 59 | 83 | 111 |
| Other Costs ⓘ | 67 | 119 | 118 | 111 | 151 | 152 | 210 | 129 | 140 | 174 |
| Operating Profit ⓘ | 107 | 151 | 166 | 110 | 81 | 77 | 71 | 178 | 275 | 414 |
| Operating Profit Margin (%) | 21.2% | 15.4% | 18.0% | 12.1% | 8.5% | 9.2% | 8.9% | 19.9% | 23.0% | 25.9% |
| Other Income ⓘ | 23 | 31 | 8 | 11 | 55 | 38 | 85 | 17 | 22 | 40 |
| Interest ⓘ | 30 | 71 | 73 | 68 | 65 | 70 | 55 | 33 | 12 | 6 |
| Depreciation ⓘ | 52 | 56 | 48 | 48 | 44 | 44 | 42 | 38 | 39 | 41 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 48 | 56 | 52 | 5 | 28 | 1 | 58 | 124 | 246 | 406 |
| Tax ⓘ | 14 | 19 | 31 | -3 | 16 | -71 | 22 | 28 | 58 | 103 |
| Profit After Tax | 33 | 37 | 21 | 8 | 12 | 72 | 36 | 96 | 188 | 303 |
| PAT Margin (%) | 6.6% | 3.7% | 2.3% | 0.9% | 1.3% | 8.7% | 4.6% | 10.7% | 15.7% | 19.0% |
| Adjusted EPS (₹) | 1.5 | 1.7 | 0.9 | 0.4 | 0.5 | 3.2 | 1.6 | 4.3 | 8.4 | 13.5 |
| Dividend Payout Ratio (%) | 36% | 33% | 27% | 28% | 19% | 0% | 12% | 16% | 12% | 11% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 510 | 723 | 729 | 731 | 740 | 782 | 819 | 908 | 1,079 | 1,348 |
| Share Capital ⓘ | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves ⓘ | 489 | 701 | 707 | 708 | 718 | 760 | 797 | 885 | 1,057 | 1,325 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 228 | 538 | 422 | 457 | 451 | 335 | 206 | 94 | 0 | 0 |
| Long Term Debt | 89 | 128 | 91 | 145 | 217 | 131 | 116 | 20 | 0 | 0 |
| Short Term Debt | 138 | 409 | 331 | 313 | 234 | 204 | 90 | 74 | 0 | 0 |
| Trade Payables | 209 | 407 | 360 | 370 | 342 | 458 | 362 | 214 | 152 | 161 |
| Others Liabilities ⓘ | 109 | 308 | 347 | 397 | 414 | 261 | 315 | 219 | 184 | 251 |
| Total Liabilities ⓘ | 1,056 | 1,976 | 1,859 | 1,955 | 1,947 | 1,836 | 1,702 | 1,435 | 1,416 | 1,760 |
Fixed Assets | ||||||||||
| Gross Block | 632 | 874 | 888 | 892 | 899 | 882 | 881 | 836 | 874 | 928 |
| Accumulated Depreciation | 299 | 85 | 132 | 178 | 221 | 253 | 293 | 274 | 294 | 330 |
| Net Fixed Assetsⓘ | 334 | 789 | 756 | 713 | 677 | 628 | 588 | 563 | 580 | 598 |
| CWIP ⓘ | 2 | 8 | 2 | 1 | 5 | 0 | 0 | 0 | 0 | 1 |
| Investmentsⓘ | 199 | 110 | 128 | 160 | 160 | 119 | 119 | 119 | 138 | 342 |
| Inventories | 130 | 263 | 232 | 201 | 239 | 228 | 176 | 180 | 176 | 154 |
| Trade Receivables | 227 | 659 | 587 | 623 | 547 | 559 | 467 | 379 | 299 | 407 |
| Cash Equivalents | 3 | 20 | 6 | 33 | 8 | 25 | 51 | 39 | 136 | 116 |
| Others Assetsⓘ | 161 | 127 | 149 | 223 | 311 | 277 | 301 | 155 | 86 | 142 |
| Total Assets ⓘ | 1,056 | 1,976 | 1,859 | 1,955 | 1,947 | 1,836 | 1,702 | 1,435 | 1,416 | 1,760 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 218 | 13 | 196 | 106 | 71 | 170 | 219 | 178 | 294 | 235 |
| PBT ⓘ | 48 | 56 | 52 | 5 | 28 | 1 | 58 | 124 | 246 | 406 |
| Adjustment ⓘ | 77 | 90 | 95 | 112 | 102 | 123 | 133 | 87 | 31 | 47 |
| Changes in Working Capital ⓘ | 107 | -102 | 53 | -12 | -56 | 50 | 27 | -5 | 81 | -117 |
| Tax Paid ⓘ | -14 | -30 | -4 | 1 | -2 | -3 | 1 | -28 | -64 | -101 |
| Cash Flow From Investing Activity ⓘ | -167 | -16 | -26 | -65 | 14 | -13 | -16 | -4 | -144 | -185 |
| Capex | -7 | 3 | -10 | 11 | -13 | -12 | -3 | -17 | -44 | -25 |
| Net Investments | -162 | 2 | 1 | -79 | 19 | -8 | -19 | 10 | -105 | -180 |
| Others ⓘ | 2 | -21 | -16 | 3 | 8 | 8 | 5 | 2 | 6 | 19 |
| Cash Flow From Financing Activityⓘ | -52 | 17 | -185 | -38 | -89 | -156 | -193 | -175 | -140 | -47 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 18 | 42 | 0 | 36 | -23 | -90 | -18 | -96 | -20 | 0 |
| Interest Paid ⓘ | -30 | -62 | -63 | -66 | -64 | -68 | -50 | -34 | -12 | -6 |
| Dividend Paid ⓘ | -12 | -15 | -14 | -7 | -3 | -3 | 0 | -4 | -16 | -34 |
| Others ⓘ | -28 | 52 | -107 | 0 | 0 | 6 | -124 | -40 | -93 | -7 |
| Net Cash Flow ⓘ | -1 | 14 | -15 | 4 | -5 | 2 | 11 | -2 | 10 | 3 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 6.62 | 5.92 | 2.9 | 1.11 | 1.64 | 9.51 | 4.53 | 11.06 | 18.94 | 24.98 |
| ROCE (%) | 10.28 | 12.3 | 10.13 | 6.02 | 7.59 | 6.09 | 10.37 | 15.23 | 24.75 | 33.98 |
| Asset Turnover Ratio | 0.51 | 0.7 | 0.52 | 0.48 | 0.49 | 0.44 | 0.45 | 0.57 | 0.84 | 1.01 |
| PAT to CFO Conversion(x) | 6.61 | 0.35 | 9.33 | 13.25 | 5.92 | 2.36 | 6.08 | 1.85 | 1.56 | 0.78 | Working Capital Days |
| Receivable Days | 133 | 152 | 228 | 240 | 223 | 241 | 235 | 173 | 103 | 81 |
| Inventory Days | 84 | 67 | 91 | 86 | 84 | 102 | 93 | 73 | 54 | 38 |
| Payable Days | 334 | 260 | 366 | 332 | 306 | 386 | 412 | 252 | 122 | 80 |
Elecon Group was founded in the year 1951 in Goregaon, Mumbai by Late Shri Ishwarbhai B. Patel. Initially, the Company manufactured conveyor systems with a focus on Engineering, Procurement and Construction projects in India. Elecon Engineering Company Limited was incorporated as a Private Limited Company in January 1960. In May 1960, the Company relocated its base to the current location in Vallabh Vidyanagar, Gujarat. Later in June 1962, the Company was listed on the Bombay Stock Exchange Limited and in November 2006 on National Stock Exchange of India Limited.
The company is a trademark that reflects leadership and relentless innovations in the power transmission industry, and as an integrated solution provider for the entire value chain of material handling systems in India.
The company was established in Goregaon, Mumbai by Late Shri Ishwarbhai B. Patel. A company fundamentally driven by “excellence” around technical innovations had its early focus on engineering, procurement and construction projects. After relocating its base to Anand, Gujarat in 1960, Elecon continued to innovate in manufacturing Power Transmission Equipment and established a dedicated Gear Division in 1976.
Today, Seven decades later since its foundation, Elecon stands as an attestation to the formidable efforts and the visions of its founding fathers and their successors. Elecon reigns as the largest industrial gear manufacturing company in Asia, located in the Anand city of Gujarat. Since its inception, Elecon’s prime focus has remained on research & development, innovation and acquiring new-age technological advancements.
Business area of the company
The company is involved in the design and manufacturing of Material Handling Equipment and Industrial Gears and also involved in providing erection and commissioning solutions for its products.
Products
Power Transmission Products
Material Handling Equipment Solutions
Foundry Division
Elecon’s Foundry Division (EFD) is ISO 9001-2008 certified and caters to machining and foundry needs of Elecon Engineering. After five decades expertise in the industry, EFD now provides casting and machining services to several other companies other than Elecon group with its ultra-modern amenities to fulfil high quality requirements. The Ferrous and Non-Ferrous Foundry is spread over ten acres of land, and has state of the art melting, moulding and heat treatment and quality assurance facilities.
History and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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