Elecon Engineering Company Ltd - Stock TechnoFunda Ideas

Elecon Engineering Company Ltd (144 to 748)

#ELECON
Recommended on: 27-Mar-2022
Recommended Price: 144
Today’s High: 748
Return Till Date: 419.44%
Date High Made: 11-July-2023

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Elecon Engineering Company Ltd is a leading manufacturer of material handling equipment and power transmission solutions. With a strong presence in India and international markets, the company designs, manufactures and markets a range of sophisticated products through its global network.

Company Overview:

Mission-critical Material Handling Equipment: Elecon Engineering specializes in the design and manufacturing of material handling equipment, including wagon tipplers, bucket wheel stacker or reclaimers, blender reclaimers, and more.

Industrial Gears: The company also manufactures industrial gears and provides erection and commissioning solutions for its products.

Global Presence: Elecon Engineering operates through foreign equity participating companies in Singapore, Australia, South Africa, China, and Dubai in the Middle East.

Company History:

Establishment: Elecon Engineering was established in 1951 and has been a pioneer in the manufacture of material handling equipment in India.

Expertise and Turnkey Contracts: Over the years, the company has developed expertise in design, manufacture, erection, and commissioning of coal handling plants. They have successfully executed turnkey contracts.

Gear Segment and Material Handling Equipment:

Gear Segment: Elecon Engineering’s gear segment witnessed strong growth, with standalone revenue growing by 30% YoY. The company continues to develop innovative products, including the EON series, catering to various industries.

Material Handling Equipment Division: The material handling equipment division recorded a revenue growth of 55% YoY and maintained a healthy EBIT margin of 15%.

Elecon Engineering Company Ltd, a leading manufacturer of material handling equipment and power transmission solutions, demonstrated strong financial performance in Q4FY23. The company’s gear segment and material handling equipment division contributed significantly to its growth. With a healthy order book and promising market opportunities, Elecon Engineering is poised for continued success in the future.