Elecon Engineering Company Ltd
NSE:ELECON
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Elecon Engineering Company Ltd
Elecon Engineering Company Ltd. traces its origins to a post-independence India longing for industrial prowess. Founded in 1951, the company initially embarked on a journey into manufacturing cutting-edge transmission equipment. Over the years, Elecon evolved into a powerhouse of mechanical engineering, gradually expanding its horizons into material handling, elevators, and escalators. The heartbeat of Elecon's operations pulsates in the intricately designed gearboxes and material handling solutions that form its core offerings. With a solid grounding in engineering excellence, it forges complex machinery that channels raw materials and goods within industries, crucial for sectors spanning from steel to cement and fertilizers to power generation.
Elecon's profitability stems from its expertise in engineering and precision manufacturing, thriving on projects that require substantial customization and innovation. It has carved a niche in crafting tailored solutions, thus commanding a loyal clientele who seek bespoke machinery to drive their operations. Through a meticulous design and manufacturing process, Elecon ensures that each product not only meets but often exceeds the high standards of durability and efficiency demanded by its clients. By delivering value through these bespoke systems and maintaining a robust after-sales service network, Elecon solidifies its revenue stream, positioning itself as a vital cog in the industrial supply chain. Pursuing geographical expansion and continuous technological upgrades, the company stays aligned with the evolving landscape of industrial mechanics and logistics, ensuring sustained growth and resilience in a competitive market.
Elecon Engineering Company Ltd. traces its origins to a post-independence India longing for industrial prowess. Founded in 1951, the company initially embarked on a journey into manufacturing cutting-edge transmission equipment. Over the years, Elecon evolved into a powerhouse of mechanical engineering, gradually expanding its horizons into material handling, elevators, and escalators. The heartbeat of Elecon's operations pulsates in the intricately designed gearboxes and material handling solutions that form its core offerings. With a solid grounding in engineering excellence, it forges complex machinery that channels raw materials and goods within industries, crucial for sectors spanning from steel to cement and fertilizers to power generation.
Elecon's profitability stems from its expertise in engineering and precision manufacturing, thriving on projects that require substantial customization and innovation. It has carved a niche in crafting tailored solutions, thus commanding a loyal clientele who seek bespoke machinery to drive their operations. Through a meticulous design and manufacturing process, Elecon ensures that each product not only meets but often exceeds the high standards of durability and efficiency demanded by its clients. By delivering value through these bespoke systems and maintaining a robust after-sales service network, Elecon solidifies its revenue stream, positioning itself as a vital cog in the industrial supply chain. Pursuing geographical expansion and continuous technological upgrades, the company stays aligned with the evolving landscape of industrial mechanics and logistics, ensuring sustained growth and resilience in a competitive market.
Revenue Growth: Elecon reported Q2 FY '26 consolidated revenue of INR 578 crores, up 14% year-on-year, driven by strong domestic demand in both Gear and Material Handling divisions.
Order Intake: Q2 FY '26 order intake was robust at INR 688 crores, up 28% year-on-year, providing strong growth visibility.
Margins: Q2 EBITDA margin was 21.7%, slightly lower due to higher employee costs and product mix changes, but management expects margins to normalize in the second half.
Guidance Reaffirmed: The company reaffirmed its FY '26 guidance of INR 2,650 crores consolidated revenue and a 24% EBITDA margin.
International Delays: Overseas revenues were flat due to geopolitical delays; however, management remains optimistic about execution picking up in H2.
Division Performance: Gear division grew 9% year-on-year, contributing 76% of Q2 revenue. Material Handling division grew 33% year-on-year.
CapEx and Cash: The company maintains a strong net cash position (~INR 600 crores) and has planned CapEx of INR 400 crores through FY '28.
Export Ambition: Elecon aims to increase exports to 50% of total revenue by FY '30, supported by global OEM tie-ups and expanding service presence.
