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Consolidated net sales (including other operating income) of Elecon Engineering Company for the quarter ended Dec 2024 has increased 11.68% to Rs 528.89 crore. Operating profit margin has jumped from 25.42% to 26.96%, leading to 18.43% rise in operating profit to Rs 142.58 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 44.53% to 45.96%. Employee cost decreased from 9.14% to 8.54%. Other expenses fell from 20.99% to 20.07%. Other direct service cost fell from 8.62% to 7.50%. Other income rose 56.71% to Rs 15.64 crore. PBIDT rose 21.36% to Rs 158.22 crore. Provision for interest rose 132.21% to Rs 3.46 crore. PBDT rose 20.08% to Rs 154.76 crore. Provision for depreciation rose 22.94% to Rs 15.54 crore. Profit before tax grew 19.77% to Rs 139.22 crore. Share of profit/loss was 18.40% lower at Rs 1.02 crore. Provision for tax was expense of Rs 32.7 crore, compared to Rs 27.09 crore. Effective tax rate was 23.32% compared to 23.06%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 18.96% to Rs 107.54 crore. For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Elecon Engineering Company has increased 4.12% to Rs 1429.39 crore.
Operating profit margin has declined from 24.70% to 24.29%, leading to 2.40% rise in operating profit to Rs 347.26 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 44.62% to 45.53%. Employee cost decreased from 9.72% to 9.60%. Other expenses rose from 20.88% to 21.27%. Other direct service cost fell from 8.46% to 7.84%. Other income rose 33.66% to Rs 41.46 crore. PBIDT rose 5.02% to Rs 388.72 crore. Provision for interest rose 20.49% to Rs 7.94 crore. PBDT rose 4.74% to Rs 380.78 crore. Provision for depreciation rose 8.24% to Rs 41.5 crore. Profit before tax grew 4.33% to Rs 339.28 crore. Share of profit/loss was 43.40% higher at Rs 5.65 crore. Provision for tax was expense of Rs 76.31 crore, compared to Rs 77.21 crore. Effective tax rate was 22.12% compared to 23.46%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 6.62% to Rs 268.62 crore. Promoters’ stake was 59.27% as of 31 December 2024 ,compared to 59.29% as of 31 December 2023 .
Management Comments :
Commenting on the results, Shri Prayasvin B. Patel, Chairman & Managing Director of Elecon
Engineering Co. Ltd. Said,
“For Q3FY25, Elecon reported consolidated revenues of ?529 crores, reflecting a 12% year-on-year growth. The
quarter`s EBITDA stood at ?143 crores, with EBITDA margins at 27%. Profit after Tax (PAT) for Q3FY25 was
?108 crores, with PAT margins at 20%. Elecon remains market leader in domestic market for Industrial Gear
solutions and Material Handling Equipment, offering cutting-edge manufacturing, top-tier products, and the
capability to deliver customized solutions with minimal lead times.
In Q3FY25, our Material Handling Equipment (MHE) division saw a remarkable 72% year-on-year revenue
growth, with EBIT margins improving by ~1,300 basis points to 31.6%. We expect a good momentum in this
segment in coming quarters.
Our Gear division, in Q3FY25, experienced a marginal growth 2.1% in revenues but saw an overall decline of
3.6% over 9MFY25 period due to delay in order inflows. We see this primarily due to sluggishness in domestic
market which has resulted in delay of capex investments. We are working diligently to expand our wallet share
in-spite of sluggishnessin domestic steel and sugar industry.
Internationally, we are progressing toward our target of generating 50% of our revenue from overseas markets
by FY30. In 9MFY25, international business contributed approximately 27% of our total consolidated revenue.
Our evolving relationships with OEMs and ongoing brand-building efforts are giving us confidence to achieve
this goal.
Our strategic alliances with global players, continued investment in R&D and product development, along with
a focus on the MHE division, will help us outperform industry trends and achieve our long-term goals. Our
priority remains towards profitable growth and creating long-term value for our shareholders.”
| Elecon Engineering Company : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 528.89 | 473.56 | 11.68 | 1,429.39 | 1,372.80 | 4.12 | 1,937.42 | 1,529.68 | 26.66 | | OPM (%) | 26.96 | 25.42 | 154 bps | 24.29 | 24.70 | -41 bps | 24.49 | 22.15 | 234 bps | | OP | 142.58 | 120.39 | 18.43 | 347.26 | 339.11 | 2.40 | 474.47 | 338.88 | 40.01 | | Other Inc. | 15.64 | 9.98 | 56.71 | 41.46 | 31.02 | 33.66 | 44.06 | 20.06 | 119.64 | | PBIDT | 158.22 | 130.37 | 21.36 | 388.72 | 370.13 | 5.02 | 518.53 | 358.94 | 44.46 | | Interest | 3.46 | 1.49 | 132.21 | 7.94 | 6.59 | 20.49 | 8.64 | 13.31 | -35.09 | | PBDT | 154.76 | 128.88 | 20.08 | 380.78 | 363.54 | 4.74 | 509.89 | 345.63 | 47.52 | | Depreciation | 15.54 | 12.64 | 22.94 | 41.5 | 38.34 | 8.24 | 50.92 | 49.04 | 3.83 | | PBT | 139.22 | 116.24 | 19.77 | 339.28 | 325.2 | 4.33 | 458.97 | 296.59 | 54.75 | | Share of Profit/(Loss) from Associates | 1.02 | 1.25 | -18.40 | 5.65 | 3.94 | 43.40 | 6.41 | 3.25 | 97.23 | | PBT before EO | 140.24 | 117.49 | 19.36 | 344.93 | 329.14 | 4.80 | 465.38 | 299.84 | 55.21 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 140.24 | 117.49 | 19.36 | 344.93 | 329.14 | 4.80 | 465.38 | 299.84 | 55.21 | | Taxation | 32.7 | 27.09 | 20.71 | 76.31 | 77.21 | -1.17 | 109.8 | 62.33 | 76.16 | | PAT | 107.54 | 90.4 | 18.96 | 268.62 | 251.93 | 6.62 | 355.58 | 237.51 | 49.71 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 107.54 | 90.4 | 18.96 | 268.62 | 251.93 | 6.62 | 355.58 | 237.51 | 49.71 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 107.54 | 90.4 | 18.96 | 268.62 | 251.93 | 6.62 | 355.58 | 237.51 | 49.71 | | EPS (Rs)* | 4.79 | 4.03 | 18.96 | 11.97 | 11.23 | 6.62 | 15.85 | 10.58 | 49.71 | | | * EPS is on current equity of Rs 22.44 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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