Target: ₹600

CMP: ₹486.95

Elecon’s record consolidated order-book of ₹1,518 crore (+37 per cent year-on-year) and robust order-inflow of ₹755 crore (+23 per cent) provide strong revenue visibility over the long term. The healthy order-backlog across both the Gear and Material Handling Equipment (MHE) segments is expected to support sustained execution despite a temporary slowdown in project conversion during Q1FY27. We believe the robust order pipeline, coupled with healthy enquiry levels across domestic and international markets, positions the company well for sustained long-term revenue growth.

Exports continued to outperform domestic markets during the quarter. Overseas revenue grew 21.9 per cent to ₹151 crore and now contributes 29 per cent of consolidated revenue versus 25 per cent a year ago. The improvement was largely driven by stronger execution across European subsidiaries and healthy demand across global industrial markets. The management remains optimistic that improving global enquiries, strengthening overseas subsidiaries and increasing contribution from engineered products will continue to support export-led growth over the medium term.

Acknowledging the ongoing macroeconomic uncertainties and near-term feasibility constraints, the management has provided conservative guidance of low double-digit consolidated revenue growth for FY27. Medium-to-long-term guidance remains highly optimistic; Elecon targets ₹5,000 crore in top-line revenue by FY30, supported by marine orders and export expansions.

Published on July 14, 2026