ELECONCapital Goods

Elecon Engineering Company Limited

Heavy Electrical Equipment · ISIN INE205B01031 · BSE 505700 · NSE EQ · FV ₹1
Last price
₹415
+1.78%today
What this company does

Elecon Engineering Company Limited operates in Heavy Electrical Equipment, part of the Capital Goods sector. It booked ₹521 cr of revenue in its latest quarter (Q1 FY27) and kept 13.5% of sales as profit.

In the report:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 77–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
42

At close. Not part of the score.

Profitability & returns50

How much profit it earns on the money it employs

Balance sheet77

How much it owes, and whether earnings cover the interest

Cash quality76

Whether reported profit actually arrives as cash

Growth & consistency57

Whether sales and profit have grown, and how steadily

Valuation69

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 6% vs last year
Promoters hold 59%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Profit down 60% vs last year

What if I invest in ELECON?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 3% a year, it would become
₹13.98 lakh

The slider starts at 3%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹415 +1.78%
latest close · 2026-09-17
52-wk low ₹40242 sessions so far52-wk high ₹459
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio33.0High
LowAverageHigh
P/B ratio4.03High
Below bookModerateHigh
EV / EBITDA17.4High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.2%Fair
WeakFairStrong ▸15%
Return on capital15.8%Strong
WeakFairStrong
Net margin13.5%Decent
ThinDecentStrong
EBITDA margin25.2%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover12.5×Strong
RiskyOkayStrong ▸5×
Current ratio2.94Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹9,304 cr
Book value
₹103
EPS
₹3.14
latest quarter
Net debt
₹-169 cr
more cash than debt
Enterprise value
₹9,134 cr
EBITDA
₹524 cr
annualised
EBIT
₹405 cr
annualised
Operating margin
19.5%
Return on assets
8.7%
Earnings yield
3.03%
P/S
4.47
Sales / share
₹92.8
Tax rate
24.5%
Face value
₹1
Shares
22.4 cr
Working capital
₹1,289 cr
Current assets
₹1,955 cr
Current liabilities
₹666 cr
Delivery %
40.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹119₹157, midpoint ₹138

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹521 cr
Other Income₹22 cr
Total Income₹542 cr
Cost of Materials₹273 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-42 cr
Employee Benefit Expense₹62 cr
Finance Costs₹8 cr
Depreciation & Amortisation₹30 cr
Other Expenses₹119 cr
Total Expenses₹449 cr
Profit before Tax₹93 cr
Tax Expense₹23 cr
Net Profit₹70 cr
Net margin on total income13.0%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹231 cr42.6%
Employee benefit expense₹62 cr11.4%
Finance costs₹8 cr1.5%
Depreciation & amortisation₹30 cr5.5%
Other expenses₹119 cr21.9%
Tax expense₹23 cr4.2%
Profit for the period₹70 cr13.0%
Total income ₹542 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue552 cr746 cr521 cr
Total income571 cr763 cr542 cr
Expenses477 cr621 cr449 cr
Profit before tax94 cr40 cr93 cr
Tax22 cr34 cr23 cr
Net profit (owners' share)72 cr6 cr70 cr
Net margin (owners' share, on revenue)13.0%0.8%13.5%
EPS (₹)3.210.273.14
YoY (latest quarter): total income +4.9% · net profit -59.9%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹3,234 cr
Shareholder equity
₹2,306 cr
parent shareholders
Total debt
₹0 cr
Cash
₹169 cr
Cash flow · H1 FY26
Operating
₹165 cr
Investing
₹-137 cr
Financing
₹-68 cr
Peer comparison
Heavy Electrical Equipment · by market value
CompanyPriceMarket capP/E
Siemens Limited₹3,764₹8.37 L cr97.6
ABB India Limited₹7,131₹1.51 L cr102.1
Bharat Heavy Electricals Limited₹429₹1.49 L cr99.4
Hitachi Energy India Limited₹31,230₹1.39 L cr118.3
CG Power and Industrial Solutions Limited₹880₹1.39 L cr110.6
GE Vernova T&D India Limited₹4,341₹1.11 L cr76.5
Siemens Energy India Limited₹3,109₹1.11 L cr62.8
Suzlon Energy Limited₹43₹58,505 cr48.3
Thermax Limited₹3,570₹40,210 cr398.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.48%
trailing 12 months
Dividend / share (TTM)
₹2
Last dividend
₹1.5
ex 12 Jun 2026
ActionDetailEx-date
Dividend₹1.5 / share12 Jun 2026
Dividend₹0.5 / share16 Oct 2025
Dividend₹1.5 / share13 Jun 2025
Dividend₹0.5 / share28 Oct 2024
Stock splitStock Split From Rs.2/- to Rs.1/-19 Jul 2024
Dividend₹2 / share14 Jun 2024
Who owns it · 2026-06-30
No pledge
Promoter
59.3%
FII / Foreign
7.0%
DII / Domestic
7.2%
Retail / others
26.6%
Smart-money activity
Insider trades
SoldPradip Manubhai Patel · Director38,50220 Mar 26
BoughtPradip Manubhai Patel jointly with Trupti Pardip Patel · Director38,50220 Mar 26
BoughtNEHAL PRADIPKUMAR PATEL · -20,000 · ₹1.7 cr28 Aug 23
Bulk / block deals
short · NSE807 Sep 26
short · NSE5124 Jul 26
short · NSE5029 Jun 26
Stake changes
SoldK B Investments Private Ltd · promoter→ 8.67% · 16,64420 Feb 24
BothAakaaish Investments Private Limited · promoter→ 46.62% · 5.23 cr7 Nov 22
BothAakaaish Investments Private Limited · promoter→ 46.62% · 5.23 cr7 Nov 22
Promoter pledges
ReleasedBajaj Finance Limited25.00 L · 2.22% held4 Jul 22
ReleasedBajaj Finance Limited50.00 L · 6.68% held13 Jun 22
ReleasedBajaj Finance Limited50.00 L · 6.68% held13 Jun 22
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Jun 2025
See the official result
1
Adoption of the Audited Financial Statements (Both Standalone and Consolidated) of the Company for the Financial Year ended on 31st March, 2025 and the Reports of Auditors and the Board of Directors thereon
Backed by 100% of shareholders other than promotersneeded 50%
1.94 cr votes for, 46 against · 0% of mutual funds and other big investors said no
2
Declaration of Final Dividend of Rs. 1.50/- (i.e. 150%) per equity share for the Financial Year ended on 31st March, 2025
Backed by 100% of shareholders other than promotersneeded 50%
1.94 cr votes for, 46 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Mr. Aayush A. Shah (DIN: 07140517), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 71% of shareholders other than promotersneeded 50%
1.38 cr votes for, 56.26 L against · 29% of mutual funds and other big investors said no
4
Appointment of Mrs. Natasha K. Treasurywala (DIN: 07049212) as a Non-Executive Independent Woman Director for five consecutive years with effect from 24th April, 2025.
Backed by 94% of shareholders other than promotersneeded 75%
1.83 cr votes for, 11.37 L against · 6% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 15 named members
owning 59.3% between them · as of 2026-06-30
Aakaaish Investments Private Limited46.62%
K B Investments Private Limited8.67%
Prayasvin Bhanubhai Patel1.75%
Trupti Pradip Patel1.28%
Akanksha Patel0.55%
B I Patel-HUF (Bhanubhai Patel-Karta)0.20%
Taruna Patel0.20%
Power Build Private Limited0.01%
Business done with them
FY2026 · 10 of the group
The company paid ₹129 cr to companies in the promoter group last year — about 5.5% of its ₹2,366 cr revenue and received ₹11 cr back from them.
PRAYAS ENGINEERING LIMITED
Bought goods from them · Refer Text Block
₹52 cr
company paid
AKAAISH MECHATRONICS LIMITED
Other payments to them · Refer Text Block
₹24 cr
company paid
AAKAAISH INVESTMENTS PRIVATE LIMITED
Other payments to them · Refer Text Block
also owns 46.62% of the company
₹21 cr
company paid
POWER BUILD PRIVATE LIMITED
Bought goods from them · Refer Text Block
also owns 0.01% of the company
₹9 cr
company paid
EMTICI ENGINEERING LIMITED
Other payments to them · Refer Text Block
₹7 cr
company paid
PRAYAS ENGINEERING LIMITED
Sold goods to them · Refer Text Block
₹5 cr
company received
K B INVESTMENTS PRIVATE LIMITED
Other payments to them · Refer Text Block
also owns 8.67% of the company
₹4 cr
company paid
EMTICI ENGINEERING LIMITED
Bought property or assets from them · Refer Text Block
₹3 cr
company paid
PRAYAS ENGINEERING LIMITED
Other payments to them · Refer Text Block
₹3 cr
company paid
POWER BUILD PRIVATE LIMITED
Sold goods to them · Refer Text Block
also owns 0.01% of the company
₹3 cr
company received
POWER BUILD PRIVATE LIMITED
Other payments to them · Refer Text Block
also owns 0.01% of the company
₹3 cr
company paid
AKAAISH MECHATRONICS LIMITED
Bought goods from them · Refer Text Block
₹2 cr
company paid
POWER BUILD PRIVATE LIMITED
Provided services to them · Refer Text Block
also owns 0.01% of the company
₹1 cr
company received
POWER BUILD PRIVATE LIMITED
Other income from them · Refer Text Block
also owns 0.01% of the company
₹84.6 L
company received
Trupti Pradip Patel
Other payments to them · Refer Text Block
also owns 1.28% of the company
₹57.2 L
company paid
PRAYAS ENGINEERING LIMITED
Bought property or assets from them · Refer Text Block
₹45 L
company paid
EMTICI ENGINEERING LIMITED
Other income from them · Refer Text Block
₹40 L
company received
ELECON INFORMATION TECHNOLOGY LIMITED
Other payments to them · Refer Text Block
₹27.7 L
company paid
B I Patel-Huf (Bhanubhai Patel-Karta)
Other payments to them · Refer Text Block
also owns 0.20% of the company
₹9.1 L
company paid
Taruna Patel
Other payments to them · Refer Text Block
also owns 0.20% of the company
₹8.8 L
company paid
ELECON INFORMATION TECHNOLOGY LIMITED
Other income from them · Refer Text Block
₹4.5 L
company received
PRAYAS ENGINEERING LIMITED
Provided services to them · Refer Text Block
₹3.6 L
company received
PRAYAS ENGINEERING LIMITED
Sold property or assets to them · Refer Text Block
₹1.1 L
company received
POWER BUILD PRIVATE LIMITED
Paid them for services · Refer Text Block
also owns 0.01% of the company
₹0.74 L
company paid
EMTICI ENGINEERING LIMITED
Bought goods from them · Refer Text Block
₹0.41 L
company paid

The company also transacted with 38 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.