Elecon Engineering Company share price
NSE: ELECONBSE: 505700Electrical EquipmentSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹428.35.
28 Oct: open ₹429.60, high ₹434.85, low ₹424.85
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹9,636 Cr552nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 39.38
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹102 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 27.81
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 3.84
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.47%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 10.3%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹102 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 14.6%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 16.2%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,23,94029.7% delivered
About Elecon Engineering Company
Elecon Engineering Company Limited is an engineering company that makes industrial gears and bulk material handling equipment for steel plants, power stations, ports, cement makers and the Indian Navy.12 It designs, casts, machines, assembles and tests its products under one roof at Vallabh Vidyanagar in Gujarat, and sells across Asia, the Middle East, Europe, the Americas and Africa.341
Elecon's Gear Division makes helical, bevel helical, worm, planetary, marine and high-speed gearboxes, couplings and custom-built gear systems, both as catalogue products and to a customer's design.5 Its Material Handling Equipment (MHE) Division makes stackers, reclaimers, wagon tipplers, crushers, feeders, wagon and truck loaders and port equipment, and also executes projects built on them.6 Elecon sells under 3 brands.7 Its gear business is supported by its overseas businesses Benzlers and Radicon, and it has assembly centres in the UK, Sweden, the Netherlands and the United States.58 It supplied the COGAG (combined gas and gas turbine) gearbox for INS Vikrant, the Indian Navy's aircraft carrier.9
Elecon was founded in Mumbai in 1951 as a trading business, set up its Gear Division in 1976 and made its first overseas acquisition, the UK-based Benzlers & Radicon Group, in 2010.10 Its founder was Ishwarbhai B. Patel, Prayasvin B. Patel is Chairman and Managing Director, and promoters held 59.28% of the shares at the end of March 2026.111213
Elecon Engineering Company key points
Results
- In the quarter to Sep 2026, consolidated revenue rose 10.5% to ₹639 crore and EBITDA (earnings before interest, tax, depreciation and amortisation) rose 17.7% to ₹148 crore, 23.1% of revenue. Profit after tax rose 9.8% to ₹96 crore.1415
- In the half year to Sep 2026, revenue was ₹1,160 crore and profit after tax ₹167 crore. Revenue rose 11.1% on the year-earlier half after taking ₹25 crore of one-time arbitration income out of that half.1617
- In the year to Mar 2026, consolidated revenue grew 6.2% to ₹2,366 crore and EBITDA was ₹523 crore, a 22.1% margin. Reported profit after tax was ₹341 crore, including arbitration awards, an unrealised investment gain and a goodwill impairment charge.1819
- On its earnings call of 15 Oct 2026, the company said it had no conventional borrowings and net cash (cash and investments above its debt) of about ₹700 crore at the end of Sep 2026.20
Business segments
- Gear Division. In the quarter to Sep 2026, Gear Division revenue rose 10.6% to ₹488 crore, about 76% of consolidated revenue, and its EBIT (profit before interest and tax) rose 27.2% to ₹108 crore, a 22.1% margin.2122
- Material Handling Equipment (MHE) Division. In the quarter to Sep 2026, MHE Division revenue rose 10.4% to ₹151 crore. Its EBIT margin fell to 20.2%, which the company put down to product mix, higher input costs and lower scale from delayed project clearances.2324
- Gear Division, full year. In the year to Mar 2026, Gear Division revenue was ₹1,699 crore and EBIT ₹319 crore, an 18.80% margin, after deferred customer deliveries and supply chain disruptions.25
- MHE Division, full year. In the year to Mar 2026, MHE Division revenue grew 43.60% to ₹667 crore, its highest in a decade, with an EBIT margin of 27.60%.26
Where revenue comes from
- Overseas revenue, from exports and overseas subsidiaries, rose 30.6% to ₹159 crore in the quarter to Sep 2026. In the half year it was ₹309 crore, 27% of consolidated revenue.2728
- In the year to Mar 2026, India made 78% of Elecon's consolidated revenue and overseas markets 22%.29
- Elecon serves customers in 95 countries through 26 sales offices and more than 185 distributors and dealers.30
Plants and capacity
- Elecon's plant at Vallabh Vidyanagar, Gujarat, covers 3,35,000 square metres and has its own foundry, fabrication, machining, heat treatment and profile grinding.31
Order book
- Elecon's consolidated order book (orders received but not yet delivered) was ₹1,635 crore at the end of Sep 2026, up about 33% on a year earlier.32
- At the end of Sep 2026, the Gear Division's order book was ₹1,056 crore, up 37.0%, and the MHE Division's ₹579 crore, up 27.3%.3334
- Consolidated order intake rose 8.4% to ₹746 crore in the quarter to Sep 2026, and 15.3% to ₹1,501 crore in the half year.35
Research and development
- Elecon's in-house R&D centre, approved by the government's Department of Scientific and Industrial Research (DSIR), has more than 105 engineers; the company holds 4 granted patents and has applied for 3 more.36
- In the year to Mar 2026, the MHE Division launched 2 products: a Hanging Type Paddle Feeder handling up to 4,500 tonnes an hour, and an automatic conveyor belt tensioning winch.37
What the company expects
- On its earnings call of 15 Oct 2026, the company said it expects consolidated revenue growth of around 15% in the half year to Mar 2027, with EBITDA margin at least at the level of the year to Mar 2026.383940
- On its earnings call of 15 Oct 2026, the company said its guidance of a 22% to 24% EBIT margin for the MHE Division stands, and that it has always guided for 20% to 22% for the Gear Division.4142
- On its earnings call of 15 Oct 2026, the company said it is confident of reaching ₹5,000 crore of revenue, and 50% of turnover from overseas markets, by the year to Mar 2030, and that acquisitions abroad are also possible.43
- On its earnings call of 15 Oct 2026, the company said its 3-year capital spending programme is on track, and that it is looking at small and medium-sized companies in America and Europe for acquisition or strategic tie-ups.4445
Recent events
- In its exchange filing of 16 Jul 2026, the company said ICRA had rated its ₹400 crore of bank facilities [ICRA]AA (Positive) and [ICRA]A1+. On its call of 15 Oct 2026, it said the long-term outlook had been raised from Stable to Positive.4647
- On 8 Jan 2026, Elecon Singapore, a wholly owned subsidiary, set up Grupo Radicon SA de CV in Mexico; the company told the exchanges on 12 Jun 2026 that it had received its certificate of incorporation.4849
Last updated
All 49 sources, each with its page
- 1. Annual report, 2 Jun 2026, page 26
- 2. Annual report, 2 Jun 2026, page 4
- 3. Annual report, 2 Jun 2026, page 7
- 4. Annual report, 2 Jun 2026, page 63
- 5. Annual report, 2 Jun 2026, page 13
- 6. Annual report, 2 Jun 2026, page 131
- 7. Annual report, 2 Jun 2026, page 8
- 8. Annual report, 2 Jun 2026, page 11
- 9. Annual report, 2 Jun 2026, page 11
- 10. Annual report, 2 Jun 2026, page 5
- 11. Annual report, 2 Jun 2026, page 6
- 12. Annual report, 2 Jun 2026, page 20
- 13. Annual report, 2 Jun 2026, page 62
- 14. Investor presentation, 14 Oct 2026, page 11
- 15. Earnings call, 15 Oct 2026, page 5
- 16. Investor presentation, 14 Oct 2026, page 11
- 17. Earnings call, 15 Oct 2026, page 5
- 18. Annual report, 2 Jun 2026, page 26
- 19. Annual report, 2 Jun 2026, page 21
- 20. Earnings call, 15 Oct 2026, page 6
- 21. Investor presentation, 14 Oct 2026, page 11
- 22. Earnings call, 15 Oct 2026, page 4
- 23. Investor presentation, 14 Oct 2026, page 11
- 24. Investor presentation, 14 Oct 2026, page 14
- 25. Annual report, 2 Jun 2026, page 6
- 26. Annual report, 2 Jun 2026, page 14
- 27. Investor presentation, 14 Oct 2026, page 11
- 28. Earnings call, 15 Oct 2026, page 6
- 29. Annual report, 2 Jun 2026, page 8
- 30. Annual report, 2 Jun 2026, page 4
- 31. Annual report, 2 Jun 2026, page 9
- 32. Investor presentation, 14 Oct 2026, page 11
- 33. Investor presentation, 14 Oct 2026, page 13
- 34. Investor presentation, 14 Oct 2026, page 14
- 35. Investor presentation, 14 Oct 2026, page 11
- 36. Investor presentation, 14 Oct 2026, page 27
- 37. Annual report, 2 Jun 2026, page 19
- 38. Earnings call, 15 Oct 2026, page 8
- 39. Earnings call, 15 Oct 2026, page 14
- 40. Earnings call, 15 Oct 2026, page 7
- 41. Earnings call, 15 Oct 2026, page 17
- 42. Earnings call, 15 Oct 2026, page 10
- 43. Earnings call, 15 Oct 2026, page 13
- 44. Earnings call, 15 Oct 2026, page 6
- 45. Earnings call, 15 Oct 2026, page 16
- 46. Exchange filing, 16 Jul 2026, page 1
- 47. Earnings call, 15 Oct 2026, page 5
- 48. Annual report, 2 Jun 2026, page 29
- 49. Exchange filing, 12 Jun 2026, page 1
Results
Consolidated; ₹ crore.Elecon Engineering Company quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +2.6%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −52.7%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹639 Crup 22.74%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹96 Crup 36.96%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 15.1%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 529 | 798 | 491 | 578 | 552 | 746 | 521 | 639 |
| Net profit | 108 | 146 | 175 | 88 | 72 | 6 | 70 | 96 |
| Net margin | 20.3% | 18.4% | 35.8% | 15.2% | 13.0% | 0.8% | 13.5% | 15.1% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹2,366 Crup 6.25%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹341 Crdown 17.82%
- Net margin
- 14.4%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,275 | 1,189 | 1,223 | 1,088 | 1,045 | 1,204 | 1,530 | 1,937 | 2,227 | 2,366 |
| Net profit | 11 | 7 | 70 | 90 | 58 | 140 | 237 | 356 | 415 | 341 |
| Net margin | 0.8% | 0.6% | 5.7% | 8.2% | 5.5% | 11.7% | 15.5% | 18.4% | 18.6% | 14.4% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Transmission EquipmentTransmission Equipment, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,699 Crdown 3.59%70.5%
- Material Handling EquipmentMaterial Handling Equipment, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹713 Crup 44.38%29.5%
Valuation
Today, against the company's own history.Elecon Engineering Company PE ratio and valuation
At or below today's level on 62% of 2,293 trading days over the last 10 years.
At or below today's level on 52% of 1,977 trading days since Nov 2018.
At or below today's level on 66% of 2,437 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −20.5% | −17.8% | −3.9% | 0.6% |
| 3 years | +23.3% | +12.8% | +8.9% | 0.4% |
| 5 years | +62.6% | +42.7% | +13.6% | 0.6% |
Mutual fund holdings
80 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 45 of the 49 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 80 funds holding Elecon Engineering Company
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 17
- CutCut. Funds that held fewer shares than at the end of the month before.
- 32
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 30
| Fund | |||
|---|---|---|---|
| 33,79,635 | 1.09% | ₹156.1 Cr | |
| 15,07,045 | 0.36% | ₹69.6 Cr | |
| 13,90,808 | 1.27% | ₹64.2 Cr | |
| 10,75,773 | 1.21% | ₹49.7 Cr | |
| 8,22,250 | 0.43% | ₹38.0 Cr | |
| 8,09,992 | 1.29% | ₹37.4 Cr | |
| 5,72,977 | 1.44% | ₹26.5 Cr | |
| 4,20,609 | 0.70% | ₹19.4 Cr | |
| 4,06,168 | 0.37% | ₹18.8 Cr | |
| 3,77,526 | 1.44% | ₹17.4 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Elecon Engineering Company insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Directors and key managers: no market trade · 2 off-market moves
Elecon Engineering Company competitors and peers
Heavy Electrical Equipment, 48 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Elecon Engineering Company in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 11,021 | – | – | – | – | – | – | 0.00% | |
| 10,538 | 79.05 | 19.44 | – | – | 27.6% | 21.3% | 0.09% | |
| 10,503 | 33.13 | 5.86 | +17.8% | −2.6% | 18.8% | 19.4% | 0.96% | |
| 10,197 | 29.61 | 1.60 | +17.1% | – | 6.0% | 7.0% | 0.00% | |
| 9,446 | 30.18 | 5.72 | +27.2% | +23.0% | 20.9% | 19.3% | 0.08% | |
| 7,545 | – | – | – | – | – | – | 0.00% | |
| 6,297 | – | – | – | – | – | – | 0.00% | |
| 6,169 | 27.46 | – | +17.2% | +38.5% | 16.7% | 21.4% | 0.02% |
Dividends
Per share, by the year it was paid for, and the latest payments.Elecon Engineering Company dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 21 Oct 2026 | Interim | ₹0.50 |
| 12 Jun 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.50 |
| 16 Oct 2025 | Interim | ₹0.50 |
| 13 Jun 2025 | Final | ₹1.50 |
| 28 Oct 2024 | Interim | ₹0.50 |
| 14 Jun 2024 | Final | ₹2.00 |
Latest announcements
Routine notices left out.Elecon Engineering Company announcements
Oct 2026
26 Oct · Analysts
15 Oct · Analysts
14 Oct · Results
Elecon Engineering Company share price by year
Each calendar year to 2025.Elecon Engineering Company share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 481.45 | −24.1% | 705.40 | 388.40 |
| 2024 | 634.50 | +36.9% | 731.25 | 404.90 |
| 2023 | 463.48 | +154.2% | 478.13 | 179.38 |
| 2022 | 182.30 | +97.8% | 232.58 | 65.60 |
| 2021 | 92.15 | +332.6% | 106.00 | 21.15 |
| 2020 | 21.30 | +16.1% | 21.43 | 8.55 |
| 2019 | 18.35 | −47.6% | 36.38 | 13.45 |
| 2018 | 35.05 | −31.9% | 54.18 | 24.83 |
| 2017 | 51.45 | +80.8% | 55.28 | 23.03 |
| 2016 | 28.45 | −32.4% | 42.18 | 21.48 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 429.20 | 435.60 | 423.05 | 428.35 | 431.20 | 2,44,380 | 37.4% |
| 26 Oct 2026 | 415.00 | 427.65 | 410.00 | 424.05 | 421.93 | 5,02,926 | 35.1% |
| 23 Oct 2026 | 432.00 | 432.00 | 401.20 | 416.20 | 411.24 | 11,96,181 | 38.7% |
| 22 Oct 2026 | 433.25 | 440.05 | 427.00 | 428.95 | 433.88 | 5,84,733 | 29.1% |
| 21 Oct 2026 | 456.55 | 465.80 | 428.75 | 433.25 | 437.93 | 11,75,402 | 47.7% |
| 19 Oct 2026 | 480.00 | 480.00 | 458.55 | 460.70 | 465.76 | 5,52,547 | 30.8% |
| 16 Oct 2026 | 488.25 | 509.60 | 475.90 | 480.35 | 490.32 | 22,57,706 | 17.6% |
| 15 Oct 2026 | 479.95 | 495.55 | 468.30 | 493.05 | 485.76 | 55,65,939 | 14.4% |
| 14 Oct 2026 | 440.00 | 501.80 | 434.65 | 486.90 | 482.21 | 2,31,56,626 | 8.5% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 19 Jul 2024 | Split | 0.5000 | Each share became 2. |
| 10 Oct 2007 | Bonus | 0.3333 | Holders received 2 bonus shares for every 1 held. |
Company details
- NSE symbol
- ELECON
- BSE code
- 505700
- ISIN
- INE205B01031
- Industry
- Electrical Equipment
- Former symbols
- ELECONENGG
- Website
- www.elecon.com
- CIN
- L29100GJ1960PLC001082
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1960
- Registered office
- Anand Sojitra Road, Dist. Anand, Vallabh Vidyanagar 388120, Gujarat
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments