ELINConsumer Discretionary

Elin Electronics Limited

Household Appliances · ISIN INE050401020 · BSE 543725 · NSE EQ · FV ₹5
Last price
₹90
+1.32%today
What this company does

Elin Electronics Limited operates in Household Appliances, part of the Consumer Discretionary sector. It booked ₹363 cr of revenue in its latest quarter (Q1 FY27) and kept -5.9% of sales as profit.

Strengthening Leadership with Manufacturing Edge At Elin Electronics Limited (‘Elin Electronics’, ‘Our Company’ or ‘We’), we are a trusted name in the electronics manufacturing services (EMS) space, offering end-to-end solutions to marquee global and domestic brands. Established in 1969 by the Sethia Vision family and headquartered in Delhi-NCR, we serve as the flagship of the Elin Group.
In the report:
50out of 100
Equitytale Health Score
Mixed

Healthier than 50% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 187–421 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)
36

At close. Not part of the score.

Profitability & returns7

How much profit it earns on the money it employs

Balance sheet53

How much it owes, and whether earnings cover the interest

Cash quality61

Whether reported profit actually arrives as cash

Growth & consistency56

Whether sales and profit have grown, and how steadily

Valuation79

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

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Some things to watch
Strengths
Sales up 23% vs last year
No promoter shares pledged
Virtually debt-free
Watch-outs
! Currently loss-making
! Thin -5.9% net margin
! Low -15.4% return on equity

What if I invest in ELIN?

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 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — 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 We do not publish price targets or predict returns.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
₹90 +1.32%
latest close · 2026-09-17
52-wk low ₹8442 sessions so far52-wk high ₹109
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/B ratio0.79Below book
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-15.4%Loss
WeakFairStrong ▸15%
Return on capital-17.8%Loss
WeakFairStrong
Net margin-5.9%Loss
ThinDecentStrong
EBITDA margin-5.0%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.03Comfortable
LowModerateHigh ▸1
Interest cover-8.5×Risky
RiskyOkayStrong ▸5×
Current ratio2.44Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹438 cr
Book value
₹114
EPS
₹-4.39
latest quarter
Net debt
₹12 cr
owes more than its cash
Enterprise value
₹450 cr
EBITDA
₹-73 cr
annualised
EBIT
₹-102 cr
annualised
Operating margin
-7.0%
Return on assets
-11.2%
Earnings yield
P/S
0.30
Sales / share
₹297.7
Tax rate
Face value
₹5
Shares
4.9 cr
Working capital
₹279 cr
Current assets
₹472 cr
Current liabilities
₹193 cr
Delivery %
55.5%
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 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 7% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹114₹114, midpoint ₹114

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₹363 cr
Other Income₹2 cr
Total Income₹365 cr
Cost of Materials₹288 cr
Purchases of Stock-in-Trade₹8 cr
Inventory Change (±)₹-11 cr
Employee Benefit Expense₹49 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹7 cr
Other Expenses₹25 cr
Total Expenses₹369 cr
Exceptional Items₹-25 cr
Profit before Tax₹-28 cr
Tax Expense₹-7 cr
Net Profit₹-21 cr
Net margin on total income-5.9%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹285 cr77.1%
Employee benefit expense₹49 cr13.3%
Finance costs₹3 cr0.8%
Depreciation & amortisation₹7 cr2.0%
Other expenses₹25 cr6.8%
Total income ₹365 cr

The company made a net loss of ₹21 cr this quarter — income covered only 99 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue294 cr324 cr363 cr
Total income295 cr325 cr365 cr
Expenses289 cr327 cr369 cr
Profit before tax5 cr-2 cr-28 cr
Tax1 cr-94.6 L-7 cr
Net profit (owners' share)4 cr-76.3 L-21 cr
Net margin (owners' share, on revenue)1.2%-0.2%-5.9%
EPS (₹)0.75-0.16-4.39
YoY (latest quarter): total income +22.4% · net profit
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹766 cr
Shareholder equity
₹557 cr
parent shareholders
Total debt
₹16 cr
Cash
₹4 cr
Cash flow · H1 FY26
Operating
₹36 cr
Investing
₹-16 cr
Financing
₹-13 cr
Peer comparison
Household Appliances · by market value
CompanyPriceMarket capP/E
LG Electronics India Limited₹1,653₹1.12 L cr43.0
Voltas Limited₹1,135₹37,546 cr43.9
Blue Star Limited₹1,553₹31,930 cr77.8
Crompton Greaves Consumer Electricals Limited₹225₹14,494 cr25.8
V-Guard Industries Limited₹330₹14,424 cr27.8
Whirlpool of India Limited₹727₹9,229 cr22.4
Eureka Forbes Limited₹391₹7,568 cr33.4
TTK Prestige Limited₹544₹7,447 cr31.4
IFB Industries Limited₹1,218₹5,027 cr28.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1
ex 22 Sep 2023
ActionDetailEx-date
Dividend₹1 / share22 Sep 2023
Who owns it · 2026-06-30
No pledge
Promoter
33.0%
FII / Foreign
0.6%
DII / Domestic
2.9%
Retail / others
63.6%
Smart-money activity
Insider trades
BoughtSANJEEV SETHIA · Promoters10,350 · ₹10.0 L30 Mar 26
BoughtSUMIT SETHIA · Promoters31,077 · ₹36.9 L27 Mar 25
BoughtSHWETA SETHIA · Promoter Group16,596 · ₹19.7 L27 Mar 25
Bulk / block deals
BoughtSILVERLEAF CAPITAL SERVICES PRIVATE LIMITED · NSE3.61 L @ ₹114.115 Jul 26
SoldSILVERLEAF CAPITAL SERVICES PRIVATE LIMITED · NSE3.61 L @ ₹114.1115 Jul 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE4.32 L @ ₹113.6915 Jul 26
Stake changes
BoughtSanjeev Sethia · promoter→ 2.12% · 10,35030 Mar 26
SoldSBI Mutual fund under its Various Schemes→ 3.72% · 2.50 L13 Aug 25
SoldSBI Mutual fund under its Various Schemes→ 5.73% · 38,28013 May 25
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 · 30 Aug 2025
See the official result
1
To receive, consider and adopt the – a. Audited Standalone Financial Statements of the Company for the financial year ended on 31st March, 2025 together with the Reports of the Board of Directors and Auditors thereon; and b. Audited Consolidated Financial Statements of the Company for the financial year ended on 31st March, 2025 together with the report of Auditors thereon;
Backed by 100% of shareholders other than promotersneeded 50%
1.38 cr votes for, 728 against · 0% of mutual funds and other big investors said no
2
To appoint a Director in place of Mr. Sanjeev Sethia (DIN: 00354700), who retires by rotation in terms of Section 152 (6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
1.38 cr votes for, 2,784 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Sumit Sethia (DIN: 00831799), who retires by rotation in terms of Section 152 (6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.
Promoters had a personal stake in this
Backed by 96% of shareholders other than promotersneeded 50%
1.32 cr votes for, 6.05 L against · 25% of mutual funds and other big investors said no
4
To Appoint Secretarial Auditors of the Company
Backed by 100% of shareholders other than promotersneeded 50%
1.38 cr votes for, 753 against · 0% 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 — 75 named members
owning 31.9% between them · as of 2026-06-30
KAMAL SETHIA9.21%
KISHORE SETHIA5.04%
GAURAV SETHIA4.49%
KANCHAN SETHIA2.16%
SANJEEV SETHIA2.12%
ELIN APPLIANCES PRIVATE LIMITED1.92%
VASUDHA SETHIA1.67%
SUMIT SETHIA1.32%
Business done with them
FY2025 · 6 of the group
The company paid ₹5 cr to companies in the promoter group last year — about 0.5% of its ₹1,180 cr revenue.
SUMIT SETHIA
Other payments to them · Director Remuneration
also owns 1.32% of the company
₹90.2 L
company paid
Gaurav Sethia
Other payments to them · Director Remuneration
also owns 4.49% of the company
₹87.4 L
company paid
KAMAL SETHIA
Other payments to them · Director Remuneration
also owns 9.21% of the company
₹87.4 L
company paid
KISHOR SETHIA
Other payments to them · Director Remuneration
₹87.4 L
company paid
SANJEEV SETHIA
Other payments to them · Director Remuneration
also owns 2.12% of the company
₹87.4 L
company paid
VINAY KUMAR SETHIA
Other payments to them · Director Remuneration
also owns 1.18% of the company
₹87.4 L
company paid

The company also transacted with 12 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.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹475 cr raised in Dec 2022 by selling shares to the public

As of Jun 2025, the company says it has spent 100% of what it set aside. Axis Bank Limited watches the spending on the exchange’s behalf.

Repayment/ prepayment, in full or part, of certain borrowings availed of by our Company
100%
₹88 cr of ₹88 cr
Funding capital expenditure towards upgrading and expanding our existing facilities at (i)Ghaziabad, Uttar Pradesh, and (ii) Verna, Goa
100%
₹38 cr of ₹38 cr
General corporate purposes
originally ₹39 cr
budget changed
100%
₹40 cr of ₹40 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

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