Elecon Engineering Company logo

Elecon Engineering Company share price

NSE: ELECONBSE: 505700Electrical EquipmentSmall Cap

Elecon Engineering Company Limited · Face value ₹1 · Listed Jun 1962 on BSE, Sep 2006 on NSE
Last close ₹429.40up ₹1.05 (0.25%)BSE ₹429.65

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

52-week range of traded prices to 28 Oct 2026
₹352.00Low, 30 Mar 2026₹579.00High, 6 May 2026
Market cap
₹9,636 Cr552nd largest listed
P/E
39.38
P/E without one-offs
27.81
P/B
3.84
Dividend yield
0.47%
ROE
10.3%
ROE without one-offs
14.6%
ROCE
16.2%
Debt to equity
0.00
Volume, NSE
2,23,94029.7% delivered

Elecon Engineering Company share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−22.9%over a year · Nifty Smallcap 250 −2.1% · Nifty 500 −8.8%

ResultsDividend20-session average 21,50,443 shares a day, 33.0% 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. 1. Annual report, 2 Jun 2026, page 26
  2. 2. Annual report, 2 Jun 2026, page 4
  3. 3. Annual report, 2 Jun 2026, page 7
  4. 4. Annual report, 2 Jun 2026, page 63
  5. 5. Annual report, 2 Jun 2026, page 13
  6. 6. Annual report, 2 Jun 2026, page 131
  7. 7. Annual report, 2 Jun 2026, page 8
  8. 8. Annual report, 2 Jun 2026, page 11
  9. 9. Annual report, 2 Jun 2026, page 11
  10. 10. Annual report, 2 Jun 2026, page 5
  11. 11. Annual report, 2 Jun 2026, page 6
  12. 12. Annual report, 2 Jun 2026, page 20
  13. 13. Annual report, 2 Jun 2026, page 62
  14. 14. Investor presentation, 14 Oct 2026, page 11
  15. 15. Earnings call, 15 Oct 2026, page 5
  16. 16. Investor presentation, 14 Oct 2026, page 11
  17. 17. Earnings call, 15 Oct 2026, page 5
  18. 18. Annual report, 2 Jun 2026, page 26
  19. 19. Annual report, 2 Jun 2026, page 21
  20. 20. Earnings call, 15 Oct 2026, page 6
  21. 21. Investor presentation, 14 Oct 2026, page 11
  22. 22. Earnings call, 15 Oct 2026, page 4
  23. 23. Investor presentation, 14 Oct 2026, page 11
  24. 24. Investor presentation, 14 Oct 2026, page 14
  25. 25. Annual report, 2 Jun 2026, page 6
  26. 26. Annual report, 2 Jun 2026, page 14
  27. 27. Investor presentation, 14 Oct 2026, page 11
  28. 28. Earnings call, 15 Oct 2026, page 6
  29. 29. Annual report, 2 Jun 2026, page 8
  30. 30. Annual report, 2 Jun 2026, page 4
  31. 31. Annual report, 2 Jun 2026, page 9
  32. 32. Investor presentation, 14 Oct 2026, page 11
  33. 33. Investor presentation, 14 Oct 2026, page 13
  34. 34. Investor presentation, 14 Oct 2026, page 14
  35. 35. Investor presentation, 14 Oct 2026, page 11
  36. 36. Investor presentation, 14 Oct 2026, page 27
  37. 37. Annual report, 2 Jun 2026, page 19
  38. 38. Earnings call, 15 Oct 2026, page 8
  39. 39. Earnings call, 15 Oct 2026, page 14
  40. 40. Earnings call, 15 Oct 2026, page 7
  41. 41. Earnings call, 15 Oct 2026, page 17
  42. 42. Earnings call, 15 Oct 2026, page 10
  43. 43. Earnings call, 15 Oct 2026, page 13
  44. 44. Earnings call, 15 Oct 2026, page 6
  45. 45. Earnings call, 15 Oct 2026, page 16
  46. 46. Exchange filing, 16 Jul 2026, page 1
  47. 47. Earnings call, 15 Oct 2026, page 5
  48. 48. Annual report, 2 Jun 2026, page 29
  49. 49. Exchange filing, 12 Jun 2026, page 1

Results

Consolidated; ₹ crore.Elecon Engineering Company quarterly results

Revenue growth, 12 months
+2.6%
Net profit growth, 12 months
−52.7%

Quarter to Sep 2026, against the quarter before

Revenue
₹639 Crup 22.74%
Net profit
₹96 Crup 36.96%
Net margin
15.1%

Revenue by quarter

₹529 CrDec 24₹798 CrMar 25₹491 CrJun 25₹578 CrSep 25₹552 CrDec 25₹746 CrMar 26₹521 CrJun 26₹639 CrSep 26
Peak revenue ₹798 Cr, quarter to Mar 2025; lowest ₹491 Cr, quarter to Jun 2025

Net profit by quarter, a loss in red

₹108 CrDec 24₹146 CrMar 25₹175 CrJun 25₹88 CrSep 25₹72 CrDec 25₹6.00 CrMar 26₹70 CrJun 26₹96 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue529798491578552746521639
Net profit108146175887267096
Net margin20.3%18.4%35.8%15.2%13.0%0.8%13.5%15.1%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Transmission Equipment₹1,699 Crdown 3.59%70.5%
  • Material Handling Equipment₹713 Crup 44.38%29.5%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.Elecon Engineering Company PE ratio and valuation

Price to earnings

At or below today's level on 62% of 2,293 trading days over the last 10 years.

LowestHighest
Its median24.30Industry median34.88
Price to book

At or below today's level on 52% of 1,977 trading days since Nov 2018.

LowestHighest
Its median3.76Industry median5.72
Dividend yield

At or below today's level on 66% of 2,437 trading days over the last 10 years.

LowestHighest
Its median0.36%Industry median0.35%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend 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%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Elecon Engineering Company shareholding pattern

Shareholding by group

  • Promoters59.27%
  • Foreign institutions6.93%
  • Indian institutions7.08%
  • Governments0.04%
  • Individuals and others26.68%
Holder
Aakaaish Investments Private LimitedPromoter46.62%
K B Investments Private LimitedPromoter8.67%
Ajay UpadhyayaResident individuals, over ₹2 lakh at face value1.76%
Prayasvin Bhanubhai PatelPromoter1.75%
Trupti Pradip PatelPromoter1.28%
Long Term India FundForeign portfolio investors, category I1.11%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −0.06 pts, Indian institutions −0.10 pts, mutual funds +0.95 pts.

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 time
1
Added
17
Cut
32
Held unchanged
30
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

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
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

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

Return on equity across, P/E up, size is market cap
Company
Karamtara Engineering logoKaramtara EngineeringKARAMTARA11,021––––––0.00%
Quality Power Electrical Equipments logoQuality Power Electrical EquipmentsQPOWER10,53879.0519.44––27.6%21.3%0.09%
Voltamp Transformers logoVoltamp TransformersVOLTAMP10,50333.135.86+17.8%−2.6%18.8%19.4%0.96%
Inox Wind logoInox WindINOXWIND10,19729.611.60+17.1%–6.0%7.0%0.00%
Transformers and Rectifiers (India) logoTransformers and Rectifiers (India)TARIL9,44630.185.72+27.2%+23.0%20.9%19.3%0.08%
Kanohar Electricals logoKanohar ElectricalsKANOHAR7,545––––––0.00%
Powerica logoPowericaPOWERICA6,297––––––0.00%
Skipper logoSkipperSKIPPER6,16927.46–+17.2%+38.5%16.7%21.4%0.02%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

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

0.1Mar 180.1Mar 19Mar 200.2Mar 210.7Mar 221Mar 231.5Mar 242Mar 252Mar 260.5Mar 27so far
Highest ₹2.00 a share, years to Mar 2025 and Mar 2026.
Ex-dateTypePer share
21 Oct 2026Interim₹0.50
12 Jun 2026Final₹1.50
16 Oct 2025Interim₹0.50
13 Jun 2025Final₹1.50
28 Oct 2024Interim₹0.50
14 Jun 2024Final₹2.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Elecon Engineering Company announcements

Elecon Engineering Company share price by year

Each calendar year to 2025.Elecon Engineering Company share price history

YearClose at year endChangeHighest closeLowest close
2025481.45−24.1%705.40388.40
2024634.50+36.9%731.25404.90
2023463.48+154.2%478.13179.38
2022182.30+97.8%232.5865.60
202192.15+332.6%106.0021.15
202021.30+16.1%21.438.55
201918.35−47.6%36.3813.45
201835.05−31.9%54.1824.83
201751.45+80.8%55.2823.03
201628.45−32.4%42.1821.48
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 2026429.20435.60423.05428.35431.202,44,38037.4%
26 Oct 2026415.00427.65410.00424.05421.935,02,92635.1%
23 Oct 2026432.00432.00401.20416.20411.2411,96,18138.7%
22 Oct 2026433.25440.05427.00428.95433.885,84,73329.1%
21 Oct 2026456.55465.80428.75433.25437.9311,75,40247.7%
19 Oct 2026480.00480.00458.55460.70465.765,52,54730.8%
16 Oct 2026488.25509.60475.90480.35490.3222,57,70617.6%
15 Oct 2026479.95495.55468.30493.05485.7655,65,93914.4%
14 Oct 2026440.00501.80434.65486.90482.212,31,56,6268.5%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
19 Jul 2024Split0.5000Each share became 2.
10 Oct 2007Bonus0.3333Holders received 2 bonus shares for every 1 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson and managing director and CEO
Prayasvin Patel
At the end of the quarter to Sep 2026
NSE symbol
ELECON
BSE code
505700
ISIN
INE205B01031
Industry
Electrical Equipment
Former symbols
ELECONENGG
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