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Elecon Engineering Company
SectorCapital Goods
Elecon Engineering Company Ltd is an Indian manufacturer of material handling equipment and power transmission solutions. Established in 1951, the company designs, manufactures, and markets products through networks in India and international locations. Their product range includes wagon tipplers, stacker reclaimers, and various material handling systems. Elecon operates in two main segments: Transmission Equipment, which produces gearboxes and related items, and Material Handling Equipment, which manufactures and executes projects for various material handling systems. The company has manufacturing facilities in Vallabh Vidyanagar, Gujarat, and serves both domestic and international markets.
In the news
Elecon Engineering Q2: Stock jumps 13% on ₹639 cr revenue growth
Elecon Engineering shares surge 6% on strong orders, FY30 roadmap
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Elecon Engineering Q1 profit drops 60% to ₹70.4 crore, broker recommends buy
Emkay and ICICI Securities bullish on Elecon Engineering with ₹600 target
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Elecon Engineering Q4 profit drops to ₹97 cr, HDB Financial gains
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Elecon Engineering shares drop 14% on CFO exit, wins GST appeal
Elecon Engineering shares plunge 16% to 9-month low on Q3 results
The Quarter story
The two most recent quarterly results, compared side-by-side.
Backlog and margins are improving, but Gear orders and domestic demand are slowing.
Consolidated EBITDA margin improves from 21.7% to 23.1% from Q2 FY26 to Q2 FY27 — profitability is at a five-quarter high
Gear Division order intake falls from ₹497 Cr to ₹253 Cr and open orders fall from ₹771 Cr to ₹579 Cr from Q2 FY26 to Q2 FY27 — demand momentum weakens
Open order book grows from ₹1,226 Cr to ₹1,635 Cr from Q2 FY26 to Q2 FY27 — backlog supports future revenue
Domestic revenue falls from ₹457 Cr to ₹370 Cr from Q2 FY26 to Q1 FY27 — latest reported local quarter is below prior year
Overseas revenue rises from ₹121 Cr to ₹159 Cr from Q2 FY26 to Q2 FY27 — exports are a steady growth driver
Inventories rise from ₹272 Cr to ₹371 Cr from Q2 FY26 to Q2 FY27 — working capital needs increase
MHE Division order intake surges from ₹191 Cr to ₹493 Cr from Q2 FY26 to Q2 FY27 — backlog and demand strengthen
Lease liabilities rise from ₹258 Cr to ₹361 Cr from Q2 FY26 to Q2 FY27 — fixed obligations increase
Shareholders funds grow from ₹2,244 Cr to ₹2,509 Cr from Q2 FY26 to Q2 FY27 — equity base strengthens
Company insights, generated from the most recent coverage.
At ₹483 against a 52-week high of ~₹580, Elecon still has roughly 20% of headroom to its prior peak — the re-rating on the Q2 margin beat is not yet priced to a full valuation.
Closing at ~₹483 (+9.8%) with RSI at 57 and a slightly negative MACD histogram means momentum is not overbought — the move has room, but price sitting just under the 20-period SMA (~483) makes that level the immediate resistance to clear.
Interim dividend of ₹0.50/share declared with Q2FY27 (record 21 Oct, payout from 4 Nov) — small in yield terms, but it signals management is comfortable returning cash while still running the ₹400 Cr capex program.