Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Elecon Engineering Company Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹453.10Overvalued by 13.86%vs CMP ₹526.00

P/E (33.0) × ROE (16.6%) × BV (₹103.00) × DY (0.38%)

₹300.85Overvalued by 42.80%vs CMP ₹526.00
MoS: -74.8% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹579.7623%Under (+10.2%)
Graham NumberEarnings₹223.0617%Over (-57.6%)
Earnings PowerEarnings₹116.5611%Over (-77.8%)
DCFCash Flow₹515.5811%Fair (-2%)
Net Asset ValueAssets₹102.877%Over (-80.4%)
EV/EBITDAEnterprise₹203.469%Over (-61.3%)
Earnings YieldEarnings₹214.707%Over (-59.2%)
ROCE CapitalReturns₹115.637%Over (-78%)
Revenue MultipleRevenue₹99.396%Over (-81.1%)
Consensus (9 models)₹300.85100%Overvalued
Key Drivers: EPS CAGR 28.0% lifts DCF — verify sustainability. | Wide model spread (₹99–₹580) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 28.0%

*Investments are subject to market risks

Analyst Summary

Elecon Engineering Company Ltd operates in the Engineering - Heavy segment, NSE: ELECON | BSE: 505700, current market price is ₹526.00, market cap is 11,786 Cr.. At a glance, stock P/E is 33.0, ROE is 16.6 %, ROCE is 21.0 %, book value is 103, dividend yield is 0.38 %. The latest intrinsic value estimate is ₹300.85, around 42.8% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹2,227 Cr versus the prior period change of 15.0%, while latest net profit is about ₹415 Cr with a prior-period change of 16.6%. The 52-week range shown on this page is 717/352, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisElecon Engineering Company Ltd. is a Public Limited Listed company incorporated on 11/01/1960 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CI…

This summary is generated from the stock page data available for Elecon Engineering Company Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

75
Elecon Engineering Company Ltd scores 75/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health83/100 · Strong
ROCE 21.0% ExcellentROE 16.6% GoodD/E 0.26 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 59.3% Stable
Earnings Quality65/100 · Strong
OPM expanding (22% → 24%) Improving
Quarterly Momentum80/100 · Strong
Revenue (4Q): +21% YoY AcceleratingProfit (4Q): +29% YoY StrongOPM: 20.0% (down 7.0% YoY) Margin pressure
Industry Rank85/100 · Strong
P/E 33.0 vs industry 43.4 In-lineROCE 21.0% vs industry 15.5% Above peersROE 16.6% vs industry 12.9% Above peers3Y sales CAGR: 22% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 12:05 am

Market Cap 11,786 Cr.
Current Price 526
Intrinsic Value₹297.47
High / Low 717/352
Stock P/E33.0
Book Value 103
Dividend Yield0.38 %
ROCE21.0 %
ROE16.6 %
Face Value 1.00
PEG Ratio1.18

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Elecon Engineering Company Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Elecon Engineering Company Ltd 11,786 Cr. 526 717/35233.0 1030.38 %21.0 %16.6 % 1.00
Techno Electric & Engineering Company Ltd 15,126 Cr. 1,300 1,655/87032.3 3350.69 %16.5 %12.8 % 2.00
LMW Ltd 15,454 Cr. 14,466 18,250/11,729127 2,6490.21 %4.48 %3.04 % 10.0
Praj Industries Ltd 7,577 Cr. 412 538/273103 70.81.46 %17.9 %14.1 % 2.00
Inox Wind Ltd 17,877 Cr. 103 198/74.935.6 38.60.00 %11.5 %11.7 % 10.0
Industry Average11,837.03 Cr1,377.3843.43296.270.32%15.49%12.92%8.88

All Competitor Stocks of Elecon Engineering Company Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 389425414485474565392508529798491578552
Expenses 300332314366353429300396386602360452443
Operating Profit 899310011912013592112143195130126109
OPM % 23%22%24%24%25%24%24%22%27%24%27%22%20%
Other Income 499141116171417211081819
Interest 2523122235667
Depreciation 12141213131313131619252527
Profit before tax 7984941171171369411114019220711394
Tax % 20%19%23%24%23%24%22%21%23%24%15%22%23%
Net Profit 636873899010473881081461758872
EPS in Rs 2.803.033.253.954.034.623.273.914.796.537.823.913.21

Last Updated: February 6, 2026, 2:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 11:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,2931,3291,2801,2021,1801,2251,0881,0441,2121,5301,9372,2272,418
Expenses 1,1361,1531,1051,0271,0551,0849478589601,1891,4631,6841,858
Operating Profit 157176176175126140142186252341475543560
OPM % 12%13%14%15%11%11%13%18%21%22%24%24%23%
Other Income 14172912869985225068166
Interest 8087839075747860381491324
Depreciation 62726253534853524949516196
Profit before tax 293460446882081171300465537606
Tax % 51%49%37%75%-33%21%-360%29%18%21%24%23%
Net Profit 141737117709058140238356415482
EPS in Rs 0.630.751.720.480.333.124.002.576.2610.5815.8518.5021.47
Dividend Payout % 79%73%32%52%30%3%0%8%11%9%9%11%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)21.43%117.65%-70.27%-36.36%900.00%28.57%-35.56%141.38%70.00%49.58%16.57%
Change in YoY Net Profit Growth (%)0.00%96.22%-187.92%33.91%936.36%-871.43%-64.13%176.93%-71.38%-20.42%-33.01%

Elecon Engineering Company Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:15%
3 Years:22%
TTM:21%
Compounded Profit Growth
10 Years:40%
5 Years:36%
3 Years:42%
TTM:26%
Stock Price CAGR
10 Years:33%
5 Years:106%
3 Years:44%
1 Year:-12%
Return on Equity
10 Years:14%
5 Years:19%
3 Years:23%
Last Year:23%

Last Updated: September 5, 2025, 3:25 am

Balance Sheet

Last Updated: April 20, 2026, 3:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 222222222222222222222222
Reserves 5146826876867468328971,0281,2571,5821,9762,283
Borrowings 5526295835905484833351515270181273
Other Liabilities 877870794857849792733513399449550655
Total Liabilities 1,9642,2032,0872,1562,1652,1291,9881,7151,7302,1232,7293,234
Fixed Assets 523898861834799799758739754769914930
CWIP 4821500101723
Investments 154949515453535477286496743
Other Assets 1,4221,2481,1751,2701,3071,2771,1769218991,0671,3131,538
Total Assets 1,9642,2032,0872,1562,1652,1291,9881,7151,7302,1232,7293,234

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 177121887087222248223309365432314
Cash from Investing Activity + 07-7-5140-25-1915-166-279-316-220
Cash from Financing Activity + -168-5-134-64-118-176-210-250-145-58-67-122
Net Cash Flow 91447-4492119-12-22749-27
Free Cash Flow 1771618052103209245209263339368218
CFO/OP 113%25%111%55%67%160%133%101%110%100%103%81%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow157.00-376.00-453.00-408.00-464.00-408.00-341.00-149.00101.00289.00405.00362.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 2412362011912081772051771258284101
Inventory Days 2091872182031892062481881671429786
Days Payable 2892783313262952594203191731008099
Cash Conversion Cycle 1611458869102124334611912510287
Working Capital Days 4666-11-27150385471756763
ROCE %9%10%10%10%6%10%8%11%17%25%31%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 59.29%59.29%59.29%59.29%59.28%59.28%59.28%59.28%59.28%59.28%59.28%59.28%
FIIs 2.11%2.81%4.88%5.96%7.58%9.10%9.84%9.73%8.65%9.61%8.31%8.09%
DIIs 1.76%2.02%2.92%2.64%2.29%2.55%2.97%3.67%4.39%3.80%4.13%4.48%
Government 0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.03%0.03%0.04%0.04%0.04%
Public 36.84%35.88%32.90%32.11%30.84%29.07%27.91%27.30%27.65%27.28%28.25%28.11%
No. of Shareholders 63,19265,22081,53987,81693,0511,00,2951,10,5341,07,5491,11,0671,15,5011,26,3191,21,939

Shareholding Pattern Chart

No. of Shareholders

Elecon Engineering Company Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Franklin India Small Cap Fund 2,667,776 0.85 108.872,375,3802026-02-22 13:50:4512.31%
HDFC Multi Cap Fund 1,536,095 0.33 62.691,200,0002026-02-22 20:50:3928.01%
Sundaram Multi Cap Fund 849,332 1.24 34.66N/AN/AN/A
Sundaram Flexicap Fund 532,101 1.06 21.72N/AN/AN/A
Sundaram ELSS Tax Saver Fund 351,860 1.07 14.36N/AN/AN/A
Templeton India Value Fund 326,951 0.59 13.34294,2912026-02-23 01:15:5111.1%
Bandhan Infrastructure Fund 234,596 0.67 9.57240,4532026-02-20 07:21:24-2.44%
Sundaram Infrastructure Advantage Fund 175,000 0.78 7.14N/AN/AN/A
ITI Large & Midcap Fund 160,176 0.87 6.54N/AN/AN/A
ITI ELSS Tax Saver Fund 80,282 0.79 3.2853,3262026-01-25 13:01:1550.55%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.002.002.002.002.00
Basic EPS (Rs.) 18.5031.6921.1712.525.14
Diluted EPS (Rs.) 18.5031.6921.1712.525.14
Cash EPS (Rs.) 20.8435.6625.2516.729.61
Book Value[Excl.RevalReserv]/Share (Rs.) 89.07142.96114.0093.6081.93
Book Value[Incl.RevalReserv]/Share (Rs.) 89.07142.96114.0093.6081.93
Revenue From Operations / Share (Rs.) 99.24172.68136.34107.2793.11
PBDIT / Share (Rs.) 26.8646.2131.9922.7317.05
PBIT / Share (Rs.) 24.1541.6827.6218.4012.41
PBT / Share (Rs.) 23.5740.9126.4315.077.08
Net Profit / Share (Rs.) 18.1431.1220.8812.394.97
NP After MI And SOA / Share (Rs.) 18.5031.6921.1712.525.14
PBDIT Margin (%) 27.0626.7623.4621.1818.31
PBIT Margin (%) 24.3324.1320.2517.1513.32
PBT Margin (%) 23.7423.6819.3814.047.60
Net Profit Margin (%) 18.2718.0215.3111.555.33
NP After MI And SOA Margin (%) 18.6318.3515.5211.675.51
Return on Networth / Equity (%) 20.7622.1618.5613.376.26
Return on Capital Employeed (%) 24.7127.1122.4617.5012.06
Return On Assets (%) 15.2016.7413.718.172.89
Long Term Debt / Equity (X) 0.000.000.000.010.12
Total Debt / Equity (X) 0.000.000.000.090.26
Asset Turnover Ratio (%) 0.911.000.880.510.41
Current Ratio (X) 3.163.052.521.641.35
Quick Ratio (X) 2.712.471.731.161.05
Inventory Turnover Ratio (X) 9.423.302.662.081.32
Dividend Payout Ratio (NP) (%) 8.109.466.613.190.00
Dividend Payout Ratio (CP) (%) 7.078.285.482.370.00
Earning Retention Ratio (%) 91.9090.5493.3996.810.00
Cash Earning Retention Ratio (%) 92.9391.7294.5297.630.00
Interest Coverage Ratio (X) 46.2160.0226.966.833.20
Interest Coverage Ratio (Post Tax) (X) 32.2141.4118.604.721.93
Enterprise Value (Cr.) 9722.6710394.014074.551601.88816.88
EV / Net Operating Revenue (X) 4.375.362.661.330.78
EV / EBITDA (X) 16.1320.0511.356.284.27
MarketCap / Net Operating Revenue (X) 4.535.502.801.340.68
Retention Ratios (%) 91.8990.5393.3896.800.00
Price / BV (X) 5.046.643.351.540.77
Price / Net Operating Revenue (X) 4.535.502.801.340.68
EarningsYield 0.040.030.050.080.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Elecon Engineering Company Ltd. is a Public Limited Listed company incorporated on 11/01/1960 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L29100GJ1960PLC001082 and registration number is 001082. Currently company belongs to the Industry of Engineering - Heavy. Company's Total Operating Revenue is Rs. 2016.04 Cr. and Equity Capital is Rs. 22.44 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Engineering - HeavyAnand-Sojitra Road, Vallab Vidyanagar Gujarat 388120Contact not found
Management
NamePosition Held
Mr. Prayasvin B PatelChairman & Managing Director (Executive Director)
Mr. Prashant C AminNon Executive Director
Mr. Pradip M PatelNon Executive Director
Mr. Aayush A ShahNon Executive Director
Dr. Sonal V AmbaniIndependent Director
Mr. Ashutosh A PednekarIndependent Director
Mr. Pranav C AminIndependent Director
Mr. Nirmal P BhogilalIndependent Director

FAQ

What is the intrinsic value of Elecon Engineering Company Ltd and is it undervalued?

As of 05 May 2026, Elecon Engineering Company Ltd's intrinsic value is ₹300.85, which is 42.80% lower than the current market price of ₹526.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (16.6 %), book value (₹103), dividend yield (0.38 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Elecon Engineering Company Ltd?

Elecon Engineering Company Ltd is trading at ₹526.00 as of 05 May 2026, with a FY2026-2027 high of ₹717 and low of ₹352. The stock is currently in the middle of its 52-week range. Market cap stands at ₹11,786 Cr..

How does Elecon Engineering Company Ltd's P/E ratio compare to its industry?

Elecon Engineering Company Ltd has a P/E ratio of 33.0, which is below the industry average of 43.43. This is broadly in line with or below the industry average.

Is Elecon Engineering Company Ltd financially healthy?

Key indicators for Elecon Engineering Company Ltd: ROCE of 21.0 % indicates efficient capital utilization; ROE of 16.6 % shows strong shareholder returns. Dividend yield is 0.38 %.

Is Elecon Engineering Company Ltd profitable and how is the profit trend?

Elecon Engineering Company Ltd reported a net profit of ₹415 Cr in Mar 2025 on revenue of ₹2,227 Cr. Compared to ₹140 Cr in Mar 2022, the net profit shows an improving trend.

Does Elecon Engineering Company Ltd pay dividends?

Elecon Engineering Company Ltd has a dividend yield of 0.38 % at the current price of ₹526.00. The company pays dividends, though the yield is modest.

Last Updated: May 5, 2026, 12:05 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 505700 | NSE: ELECON
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Elecon Engineering Company Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
Explore Industry-wise Stock Analysis Reports