Elecon Engineering Company Ltd

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NSEBSE

1018.9021.60 (2.17%)

12:00 AM,23rd Feb 2024

1017.3520.00 (2.01%)

12:00 AM,23rd Feb 2024

BSE : 505700

NSE : ELECON

Sector : Engineering

ISIN Code : INE205B01023

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Last Updated: Feb 23 2024 | 12:00 AM IST

Market Cap (₹ Cr)

11432

Turnover (₹ Cr)

1.61

Volume (Shares)

157756

Face Value

2

52-WK High

1122.00

52-WK High Date

30 Jan 2024

52-WK Low

349.85

52-WK Low Date

28 Mar 2023

All Time High

1122.00

All Time High Date

30 Jan 2024

All Time Low

0.54

All Time Low Date

05 Oct 2001

Elecon Engineering Company Ltd

Elecon Engineering Company Ltd is a leading manufacture of mission critical Material Handling Equipment and Power Transmission Solution. The Company is involved in design and manufacturing of Material Handling Equipment and Industrial Gears and involved in providing erection and commissioning solutions for its products. The Company designs manufactures and markets sophisticated range of products through their network spread across India and through foreign equity participating companies in Singapore Australia South Africa China and Dubai in the Middle East.The company's product range includes designing engineering manufacturing supply erection and commission of wagon tipplers bucket wheel stacker or reclaimers barrel-type blender reclaimers fertilizer reclaiming scrapers limestone pre-homegenizing and blending plants etc. The company is the first company in India to have manufactured sophisticated equipment for Bulk Material Handling. Elecon Engineering Company Ltd was established in the year 1951. The company is the pioneer in the manufacture of material handling equipment in India. The company developed and perfected their skills in design manufacture erection and commissioning of coal handling plants. Over the years they expanded their skills and expertise for designing and execution of turnkey contracts.In the year 1984 the company received government approval for their diversification into the manufacture of 1000 hydraulic fluid couplings per annum and in June 1987 Elecon (Madras) Ltd a wholly owned subsidiary company merged with the company.During the year 1997-98 the company in technical collaboration with a Japanese company floated a new company to manufacture geared motors and gear reducers. Also they formed a joint venture with German company. The commercial production was started in March 1999. During the year 1998-99 the company launched POSIRED 2 Helical/Bevel Gears in technical collaboration with P I V Antrieb Werner Reimers GmbH & Co KG Germany. Also they launched Super NU Universal Mounting Worm Gears during the year.During the year 2000-01 the company set up a wholly owned subsidiary company at Singapore namely Elecon Singapore Pte Ltd with a view to develop the export market for the company's products in the South East Asian countries and during the year 2001-02 they set up another wholly owned subsidiary at Australia namely Elecon Australia Pte Ltd with a view to develop the export market for the company products in Australia.During the year 2002-03 the company entered into an agreement for transfer of 50% of the equity share in their subsidiaries at Singapore and Australia to Emitici Engineering Ltd. In view of this Elecon Singapore Pte Ltd and Elecon Australia Pty Ltd are no more subsidiaries of the company. The company in technical collaboration with RENK Germany delivered their first shipset against the order of three shipsets from Mazgaon Dock Ltd for the Indian Navy's Stealth Frigate.During the year 2003-04 the company bagged an order from Maharashtra State Electricity Board for their Parli project worth Rs 58 crores. Also they received orders for manufacture of certain gear components from one of the largest Gear manufacturers in the world. During the year 2005-06 the company entered into Technical Collaboration Agreement with Turbowinds N V of Belgium for import of technology to manufacture Wind Electric Generators. Also they invested in 3 equity shares of AED 100000 aggregating to AED 300000 in Elecon Middle East FZCO at Dubai Airport Free Trade Zone. During the year 2006-07 the company signed a technical collaboration with Haisung Industrial System Company Ltd of Korea to design and manufacture high speed and capacity lift gearboxes. Also they signed a technical collaboration agreement with RENK AG of Germany for availing technology for design and manufacture of Vertical Roller Mill Gear Boxes.During the year 2007-08 the company set up Wind Turbine Generator farms and manufacturing of Wind Turbine Generator Gear Boxes with a strategy of diversification. They developed a Wind Farm in Gujarat where 6 Wind Turbine Generators having the capacity of 600 KW was commissioned. Also they supplied 4 Wind Turbine Generators equipments having the capacity of 600 KW each in Maharashtra.During the year 2008-09 the Company installed 5 WTGs in Gujarat and supplied 1 WTG to North America.In October 2010 Company acquired the Benzlers-Radicon Group the power transmission business of UK-based David Brown Ltd. to expand its reach in international market.During 2011-12 the Company formed a private Company; Excel EPC Projects Pvt. Ltd. on 30 May 2012 as its Wholly-Owned Subsidiary Company. Later the Company sold its entire shareholding in Excel EPC Projects Pvt. Ltd. to two of the promoters of the Company.During 2011-12 the Hon'ble High Court of Gujarat vide its orders dated December 21 2012 sanctioned Scheme of Arrangement between Prayas Engineering Limited (First Demerged Company or PEL) and EMTICI Engineering Limited (Second Demerged Company or EMTICI) and Elecon Engineering Company Limited (First Resulting Company or EECL) and Elecon EPC Projects Limited (Second Resulting Company or EPL) and their respective Shareholders and Creditors which inter alia envisaged for i) transfer of MHE Undertaking of Elecon Engineering Company Limited to Elecon EPC Projects Limited a Subsidiary Company of the Company by way of slump sale and ii) transfer of GEAR business of Prayas Engineering Limited and EMTICI Engineering Limited to Elecon Engineering Company Limited byway of demerger which became effective on 1st April 2013 from the Appointed date of the Scheme April 1 2012. During 2012-13 the Company transferred its MHE Div. by way of slump sale to its Subsidiary Company for a total cash consideration of Rs 127.32 Crs. By virtue of Scheme of Arrangement all the MHE business of Elecon Engineering Company Limited was transferred to Elecon EPC Projects Limited. By virtue of the Scheme of Arrangement GEAR businesses of two Group Companies i.e. Prayas Engineering Ltd. and Emtici Engineering Ltd. merged into the Company during 2013. By virtue of the aforesaid High Court order all assets liabilities facilities workforce contracts rights obligations qualifications etc. (except land and buildings) of GEAR business of Prayas Engineering Ltd. and Emtici Engineering Ltd. stands transferred to Elecon Engineering Company Limited.During 2016-17 the Hon'ble High Court of Gujarat vide its Orders dated October 7 2016 approved the Scheme of Arrangement of Elecon EPC Projects Limited (Transferor Company) with the Company and their respective Shareholders and Creditors which was effective on October 24 2016 and as a result Elecon EPC Projects Limited ceased to be a Subsidiary Company of the Company.

Elecon Engineering Company Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

11432

EPS - TTM (₹) [S]

24.56

P/E Ratio (X) [S]

9.56

Face Value (₹) 2
Latest Dividend (%)50.00
Latest Dividend Date 31 Oct 2023
Dividend Yield (%) 0.20
Book Value Share (₹) [S]106.56
P/B Ratio (₹) [S]9.56
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
Groww Nifty Total Market Index Fund-Regular (G) 0.03 267 0.03
Groww Nifty Total Market Index Fund-Direct (G) 0.03 267 0.03

Research Reports

Date BrokerActionPrices(Rs)Report
11-07-2022Edelweiss Buy 297

Stock Strength

Today's Low/High

999.00

1028.70

Week Low/High

986.05

1060.00

Month Low/High

981.00

1122.00

Year Low/High

349.85

1122.00

All time Low/High

0.47

1122.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week-0.19%-0.13%1.290.78%
1 Month0.78%0.83%4.244.59%
3 Month15.25%15.37%11.1212.17%
6 Month20.14%20.08%12.1114.24%
1 Year147.40%147.55%23.0726.85%
3 Year1882.30%1886.16%47.4551.03%

Company Info

Company Information

Chairman & Managing Director : Prayasvin B Patel

Non-Exec & Non-Independent Dir : Pradip M Patel

Non-Exec & Non-Independent Dir : Prashant C Amin

Non-Exec. & Independent Dir. : Jai S Diwanji

Non-Exec. & Independent Dir. : Sonal V Ambani

Company Sec. & Compli. Officer : Bharti Isarani

Independent Director : Pranav Amin

Independent Director : Ashutosh Arvind Pednekar

Director : Aayush Shah

Registered Office: Anand-Sojitra Road, Post Box No 6,Vallabh Vidyanagar,Gujarat-388120 Ph: 91-2692-236469/236513

Email:pmshukla@mhe.elecon.com

URL:http://www.elecon.com