Slides
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Investor Presentation Q2 & H1 FY27 Elecon’s Complex Gearbox: The COGAG Gearbox, Engineered for the Indian Navy. *Note: the photo used is for illustrative purposes only, actual product may differ.
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Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Elecon Engineering Company Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections. All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness.
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1 2 3 4 5 Q2 & H1 FY27 Financial Highlights Core Values and Beliefs Historical Performance. Company Overview ESG Vision Agenda
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*Note: the photo used is for illustrative purposes only, actual product may differ. 01 Core Value & Beliefs EON Series 2
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D R I V E Delightful Customer Experience Resolute Trust Ingenious Entrepreneurship Value Creation Ethics at the Core Ensure unparalleled positive customer experiences all the time Foster unwavering trust through camaraderie and credible conduct Demonstrate accountability for the purpose, empowerment, and business acumen Create value and enable growth for every stakeholder Uphold the highest standards of ethical conduct and individual integrity Proactiveness Adaptability Relationship Service Orientation Intent Trustworthiness Competence Commitment Orientation Innovation Risk-Taking Agility Solution Orientation Wealth Learning Research Partnership Orientation Honesty Fairness Transparency ESG Orientation Foundations to our Success through Values
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OWN IT I am accountable to achieve key results. CUSTOMER F1RST I ensure my actions lead to customer delight. LET’S INNOVATE! I create timely and competitive products and solutions. GO GLOBAL I think and act towards becoming a leading global player. LET’S UNIFY I collaborate proactively and transparently to build trust. LEARN & LEAD I commit to learn, nurture and grow. The Spirit of Elecon Engineering in Beliefs
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2020-21: Zero Accidents 2021-22: One Minor Accident 2022-23: Zero Accidents 2023-24: One Minor Accident 2024-25: One Minor Accident 2025-26: Zero Accidents To prevent incidents and prioritize well-being, we implement: Safety Audits Mock Drills Emergency Preparedness Plans Fire Safety Protocols Comprehensive Training Other targeted initiatives SAFETY FIRST Safety ingrained as a Fundamental Value rather than just a priority Safety & Wellness H1 FY27: Zero Accidents
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*Note: the photo used is for illustrative purposes only, actual product may differ. 02 Q2 & H1 FY27 Financial Highlights Helical Cum Planetary Gearbox
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Open Order as on 30 th September 2026 stands at ₹ 1,635 crores, a 33% increase on a YoY basis. EBITDA & Margin % ₹ 148 crores (+17.7% YoY) 23.1% (+140 bps) Order Intake ₹ 746 crores +8.4% YoY Q2FY27 Revenue ₹ 639 crores +10.5% YoY Consolidated Q2 & H1 FY27 Financial Highlights *The growth for H1 FY27 was recorded against the adjusted H1 FY26 Revenue & EBITDA – which excluded one-time arbitration income of ₹ 25 crores from MHE division. H1 FY27 ₹ 1,160 crores +11.1%* YoY ₹ 257 crores (+11.4% YoY)* 22.2% (+10 bps)* ₹ 1,501 crores +15.3% YoY
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Commenting on the results, Mr. Prayasvin B. Patel, Chairman & Managing Director of Elecon Engineering Company Ltd. said, “Q2 FY27 marked another quarter of healthy performance for Elecon, with Consolidated Revenue growing 10.5% Y-o-Y to ₹639 crores, while EBITDA increased 17.7% to ₹148 crores. EBITDA margin expanded by 140 bps to 23.1%, supported by a higher contribution from the gear division, driven by disciplined execution and the ability to maintain operations through challenges. Profit After Tax stood at ₹96 crores, with a PAT margin of 15.1%. For H1 FY27, revenue stood at ₹1,160 crores, representing 11.1% growth over adjusted H1 FY26, while adjusted EBITDA grew 11.4% to ₹257 crores with a margin of 22.2%. Our Gear Division continued to drive growth, with Q2 revenue increasing 10.6% Y-o-Y to ₹488 crores and EBIT growing 27.2% to ₹108 crores, resulting in an improved EBIT margin of 22.1%. The division also maintained healthy momentum during H1 FY27, with revenue increasing 13.1% and EBIT growing 21.8%. The open order book for the division stood at ₹1,056 crores, providing a strong executable backlog. The Material Handling Equipment (MHE) Division reported Q2 revenue of ₹151 crores, registering growth of 10.4% Y-o-Y. However, EBIT margin moderated to 20.2%, due to an unfavorable product mix, and slower project execution. Encouragingly, MHE order intake grew 32.5% Y-o-Y to ₹253 crores, including overseas orders of ₹68 crores, while the open order book increased 27.3% to ₹579 crores. Our overseas business, comprising exports and overseas subsidiaries, continued to gain momentum, with revenue reaching ₹159 crores during Q2 FY27, and registering 30.6% Y-o-Y growth. While global macroeconomic and geopolitical uncertainties persist, we remain focused on strengthening our reach across international markets. Our consolidated order intake increased 8.4% Y-o-Y to ₹746 crores during Q2 FY27 and 15.3% to ₹1,501 crores during H1 FY27. The consolidated open order book stood at ₹1,635 crores as of 30th September 2026, up approximately 33% Y-o-Y, with healthy contributions from both divisions. Our robust order book not only provides strong revenue visibility but also reinforces our confidence in continuing to be the preferred choice of our customers. As we mark 75 years of Elecon, we remain focused on strengthening our leadership in industrial gear solutions and material handling equipment, expanding our international presence, and advancing our engineering and manufacturing capabilities to create sustainable long-term value for all our stakeholders.” From the Desk of the CMD
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Total Revenue * (₹ Crs.) Revenue (Gear) (₹ Crs.) Revenue (MHE) * (₹ Crs.) EBITDA * (₹ Crs., %) Profit After Tax ** (₹ Crs., %) * Adjusted Consolidated Revenue and EBITDA for H1 FY26 exclude ₹ 25 crores of one-time income from arbitration award in MHE division. **Adjusted PAT for H1 FY26 excludes ₹ 25 crores (pre-tax) as above as well as further ₹ 10 crores (pre-tax) of arbitration claim settlement booked under Other Income and ₹ 80 crores (net of tax) of unrealised mark-to-market gain on reclassification of investment booked as Exceptional Income below PBT. The growth was recorded for H1 FY27 against the adjusted H1 FY26 Revenue, EBITDA and PAT. 578 639 1,069 1,043 1,160 Q2 FY26 Q2 FY27 H1 FY26 H1 FY26* H1 FY27 441 488 798 903 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 137 151 270 245 256 Q2 FY26 Q2 FY27 H1 FY26 H1 FY26* H1 FY27 Consolidated Performance +10.6%+10.5% +10.4% 126 148 256 231 257 21.7% 23.1% 23.9% 22.1% 22.2% Q2 FY26 Q2 FY27 H1 FY26 H1 FY26* H1 FY27 88 96 183 156 167 15.2% 15.1% 17.1% 15.0% 14.4% Q2 FY26 Q2 FY27 H1 FY26 H1 FY26** H1 FY27 +17.7% +9.8% +8.5% +11.1% +13.1% -5.2% +4.5% +0.4% +11.4% -8.8% +6.5%
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Our Gear division continued to deliver strong growth in Q2 FY27, with revenue increasing 10.6% Y-o-Y to ₹488 crores driven by disciplined execution, reinforcing the division’s strong contribution to our consolidated performance. EBIT for the quarter increased 27.2% Y-o-Y to ₹108 crores, while the EBIT margin expanded by 290 bps to 22.1%. The margin improvement was driven by outpacing in revenue growth, a favourable revenue mix, and supported by operating leverage. Order intake remained broadly stable at ₹493 crores during Q2, while H1 order intake grew 8.8% to ₹1,063 crores. Our open order book increased 37.0% Y-o-Y to ₹1,056 crores, providing healthy revenue visibility. Order Intake (₹ Crs.) Open Order as at 30th September 2026 (₹ Crs.) Revenue (₹ Crs.) EBIT (₹ Crs., %) 771 1,056 Sep-25 Sep-26 +37.0% 441 488 798 903 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 +10.6% 85 108 150 182 19.2% 22.1% 18.8% 20.2% Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 +27.2% 497 493 977 1,063 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 -0.8% Consolidated Segment Wise Performance – Gear Division +13.1% +21.8% +8.8% Q2 Drives Momentum in Revenue and EBIT Growth. Strong Order Book Strengthens Revenue Visibility for H2.
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The MHE division registered a revenue growth of 10.4% Y-o-Y during Q2 FY27. While project execution improved compared to Q1, a further acceleration in execution is anticipated during the remainder of H2 FY27. The moderation in EBIT margin was primarily attributable to unfavorable product mix, increased input costs, and operating deleverage resulting from lower scale of operations on account of delayed clearances for the projects. Order momentum remained strong, with intake growing 32.5% to ₹253 crores in Q2, supported by overseas orders of ₹68 crores. The open order book increased 27.3% Y-o-Y to ₹579 crores, providing healthy execution visibility. * Adjusted Revenue for H1 FY26 = Total Revenue less Arbitration Settlement Income of ₹ 25 crores pertaining to one-time arbitration settlement. ** Adjusted EBIT for H1 FY26 = Reported EBIT less Arbitration Settlement Profit of ₹ 25 crores pertaining to one-time arbitration settlement. Growth rate is calculated using the same. Order Intake (₹ Crs.) Open Order as at 30th September 2026 (₹ Crs.) Revenue* (₹ Crs.) EBIT ** (₹ Crs., %) 455 579 Sep-25 Sep-26 +27.3% 137 151 270 245 256 Q2 FY26 Q2 FY27 H1 FY26 H1 FY26* H1 FY27 35 31 97 71 57 25.7% 20.2% 35.7% 29.1% 22.4% Q2 FY26 Q2 FY27 H1 FY26 H1 FY26** H1 FY27 191 253 325 438 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 +32.5% +10.4% -13.4% Consolidated Segment Wise Performance – MHE Division +4.5% -19.4% +34.8% Q2 gains momentum with project clearances, Laying a strong foundation for H2FY27.
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Geography Wise (₹ Crs., %) Segment Wise (₹ Crs., %) Consolidated Revenue Split * Adjusted Revenue for H1 FY26 = Total Revenue less Arbitration Settlement Income of ₹ 25 crores pertaining to one-time arbitration settlement received in MHE division. 850, 73% 309, 27% Domestic Overseas Gear MHE 798, 77% 245, 23% 798, 77% 245, 23% 903, 78% 256, 22% H1 FY26*H1 FY26* H1 FY27 H1 FY27
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Gear MHE 455 579 771 1,056 Sep-25 Sep-26 1,226 1,635 +33.4% Order Intake (₹ Crs.) Open Order as at 30th September 2026 (₹ Crs.) 191 253 325 438 497 493 977 1,063 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 688 +8.4% 746 Consolidated Order Book 1,302 1,501 +15.3%
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15.9% 14.0% FY26 H1 FY27 1. Net worth is calculated as Shareholder’s Equity less Intangible Assets 2. Earning Before Interest and Tax (EBIT) is calculated as Profit Before Tax plus Finance Cost (excluding lease interest) and Capital Employed is calculated as Average of Shareholder’s Equity plus Long Term Borrowing plus Short Term Borrowings plus Deferred Tax Liabilities 3. Debt includes lease liability 4. Quick Assets is calculated as current assets less inventory less prepaid expenses; 5. Net Fixed Asset Turnover is calculated based on Average Net Fixed Assets (i.e., Property, Plant & Equipment and Right-of-Use Plant & Machinery). 0.8 0.7 FY26 H1 FY27 98 89 FY26 H1 FY27 Return on Networth (%)1 RoCE (%)2 Total Asset Turnover (x) Net Fixed Asset Turnover (x)5 Debt to Equity (x)3 Working Capital Cycle (Days) Current Ratio (x) Quick Ratio (x)4 20.4% 18.8% FY26 H1 FY27 3.2 2.8 FY26 H1 FY27 0.12 0.14 FY26 H1 FY27 2.9 3.0 FY26 H1 FY27 2.4 2.5 FY26 H1 FY27 Consolidated Performance
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*** Exceptional Income includes ₹ 80 crores (net of tax) for H1 FY26 pertains to unrealised gain on reclassification of investment in EIMCO Elecon (India) Ltd. from “Associate” to “financial asset” w.e.f. 23rd April 2025. * Revenue and EBITDA for H1 FY26 includes ₹ 25 crores of one-time arbitration settlement income ** Other Income for H1 FY26 includes ₹ 10 crores of one-time arbitration settlement income Consolidated Profit & Loss Profit and Loss (Rs. Crs.) Q2 FY27 Q2 FY26 Y-o-Y Q1 FY27 Q-o-Q H1 FY27 H1 FY26 Y-o-Y Revenue from Operations* 639 578 10.5% 521 22.7% 1160 1069 8.5% Raw Material & Manufacturing Cost 344 329 284 628 562 Gross Profit 295 249 18.1% 237 24.4% 531 507 Gross Margin (%) 46.1% 43.1% 300 bps 45.5% 60 bps 45.8% 47.5% -160 bps Employee Cost 66 58 62 127 117 Other Expenses 81 66 66 147 134 EBITDA* 148 126 17.7% 109 35.5% 257 256 0.4% EBITDA Margin (%) 23.1% 21.7% 140 bps 21.0% 220 bps 22.2% 23.9% -180 bps Other Income** 20 18 22 42 45 Depreciation 33 25 30 62 50 EBIT 135 119 13.8% 101 33.4% 236 251 -5.8% EBIT Margin (%) 21.1% 20.5% 60 bps 19.5% 170 bps 20.4% 23.5% -310 bps Finance Cost 10 6 8 18 12 Share in profit of Associates 0 0 0 0 1 Profit before Tax & Exceptional Items 125 113 10.4% 93 33.9% 218 240 -9.1% PBT Margin (%) 19.5% 19.5% 0 bps 17.9% 160 bps 18.8% 22.4% -360 bps Exceptional Income / (Expense) *** 0 0 0 0 80 Profit before Tax 125 113 10.4% 93 33.9% 218 320 PBT Margin (%) 19.5% 19.5% 0 bps 17.9% 160 bps 18.8% 30.0% Tax 28 25 23 51 57 PAT 96 88 9.8% 70 37.0% 167 263 PAT Margin (%) 15.1% 15.2% -10 bps 13.5% 160 bps 14.4% 24.6% EPS (Rs.) 4.29 3.91 3.14 7.43 11.73
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Consolidated Balance Sheet Assets (Rs. Crs.) Sep-26 Mar-26 ASSETS Non-current assets Property, Plant and Equipment 633 583 Capital work-in-progress 42 23 Right to use of Assets 385 295 Investment property (net) 25 25 Goodwill - - Intangible Assets 26 27 Intangible Assets Under Development - - Investments accounted for using the equity method - - Financial Assets (i) Investments 229 148 (ii) Others Financial Assets 39 138 (iii) Loans - - Deferred Tax Assets (net) - - Income Tax Asset (net) 16 13 Other non-current assets 48 27 Total Non-Current Assets 1,442 1,279 Current assets Inventories 371 301 Financial Assets (i) Investments 687 594 (ii) Trade receivables 602 721 (iii) Cash and cash equivalents 125 169 (iv) Bank balances other than (iii) 172 43 (v) Loans - - (vi) Other Financial Assets 49 46 Other current assets 113 80 Total Current Assets 2,120 1,955 Total Assets 3,562 3,234 Equity and Liabilities (Rs. Crs.) Sep-26 Mar-26 EQUITY AND LIABILITIES EQUITY Equity Share Capital 22 22 Other Equity 2,487 2,283 Shareholders Funds 2,509 2,306 Non-Current Liabilities Financial Liabilities (i) Borrowings - - (ii) Lease Liability 274 216 Provisions 2 2 Other non-current liabilities 7 3 Deferred Tax Liabilities (net) 53 42 Total Non-Current Liabilities 336 262 Current liabilities Financial Liabilities (i) Borrowings - - (ii) Lease Liability 87 57 (iii) Trade Payables 322 288 (iii) Other Financial Liabilities 104 96 Other Current Liabilities 169 190 Provisions 22 24 Current tax liabilities (net) 12 10 Total Current Libilities 717 666 Total Liabilities 3,562 3,234
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Consolidated Cash Flow Statement Particulars (Rs Crs.) H1 FY27 FY26 Profit before Tax 218 454 Adjustment for Non-Operating Items 36 85 Operating Profit before Working Capital Changes 254 539 Changes in Working Capital 40 (117) Cash Generated from Operations 295 422 Less: Direct Taxes paid (Net of Refund) 53 111 Net Cash from Operating Activities 242 312 Cash Flow from Investing Activities (197) (220) Cash Flow from Financing Activities (92) (122) Exchange difference arising on conversion taken to FCTR 3 40 Net increase/ (decrease) in Cash & Cash equivalent (44) 10 Cash and cash equivalents at the beginning of the period 169 159 Cash and cash equivalents at the end of the period 125 169
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03 Company Overview *Note: the photo used is for illustrative purposes only, actual product may differ. 41 Inch Special Worm Gearbox
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State of art manufacturing facilities with DSIR approved In- House R&D facility for new product development and separate Engineering facility to upgrade existing product One of the largest manufacturer of Gear Solution providers in Asia & Material Handling Equipment with more than seven decades of experience and expertise Assembly & Repairs Centers at UK, Sweden, USA & Netherland other than India Company compliant with an Integrated Management System based on ISO 45001:2018 ISO 9001:2015, ISO 14001:2015. NABL accredited laboratory, aligning with ISO/IEC 17025:2017 Net Cash Positive Company First in India to manufacture sophisticated equipment for bulk Material Handling with product range that caters multiple industrial sectors in India In-House Foundry & Fabrication Facility to support end to end solutions for customers Widest range of gear applications across Industrial Sectors. Providing industry agnostic gear solutions One of Asia’s largest Industrial Gear Manufacturing Company, having facility spread over 335,000 square meter Only Company in India having capability to manufacture Complex Gear box for Defence: Indian Navy The company actively embraces environmentally friendly practices and creating long term value for stakeholders Robust market share in the organized market Engineering Company providing Innovation led solutions
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Established in Mumbai by Late Shri Ishwarbhai Patel Forayed into manufacturing conveying equipment Listed on Bombay Stock Exchange Established Gear division Acquisition debt repaid Successful execution of defence (Indian Navy) project Forayed in bulk material handling business Acquired Benzlers and Radicon in Europe - manufacturers of screw jacks, shaft mounted gearboxes and industrial reducers Elecon Engineering Company was incorporated as Private Limited Company Shifted to Vallabh Vidyanagar, Gujarat in May 1960 1951 1960 1962 1963 1976 2010 2022 2026 Inaugurated Bhanubhai Memorial Centre of Excellence 2 – an ultra modern industrial gearbox manufacturing facility. 2001 Elecon expanded its global footprint – with the set up of Overseas Sales Office Elecon at 75: A Legacy of Engineering Excellence
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Global Presence 65+ Distributors & Dealers 1 Manufacturing Facility 13 Sales Offices 55+ Customer Reps Domestic Market Serving Across India 120+ Distributors & Dealers 4 Assembly & Repair Centers 13 Sales Offices 35+ Customer Reps Overseas Market Serving 95+ Countries
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Benzlers Plant Sweden (Helsingborg) ~3,100 Sq. Meters Benzlers Plant Netherlands (Venlo) ~1,700 Sq. Meters Radicon Plant UK (Elland) ~3,000 Sq. Meters Radicon Plant USA (Elgin) ~4,900 Sq. Meters Elecon Manufacturing Plant (Vallabh Vidyanagar) ~3,35,000 Sq. Meters Our Footprint across the Globe
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State of the art facility located at Vallabh Vidyanagar, Gujarat The facility is spread over approximately 335,000 Square Meters Our Ultra Modern Facility – BMCE 2 State of the Art Manufacturing Plant
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Pre-Design Stage DSIR approved In-House R&D facility Engineering Stage 105+ Engineers team dedicated for R&D 3D Modelling and Drawing Stage ~20 Software for designing, analysis and parameter validation Design Analysis & Value Engineering Stage 4 Patents granted & 3 Patents applied With two integrated R&D centers in India, Elecon strengthens its technology leadership and competitive advantage in material handling and industrial gear. Product Development & Innovation
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Widest range of Industrial Gears World Class operations with low lead time Diversified across industries such as Power, Cement, Sugar, Steel etc. Market leaders in the domestic market and strategically expanding overseas Maintaining the utmost safety and quality standards Manufacturing facility for both Catalogue & Engineered Products In-house manufacturing capabilities with advanced machine tools Pan-India Service Network Our Diversified Product Portfolio Helical/Bevel Helical Gearboxes Worm Gearboxes Couplings Planetary Gearboxes Loose GearsDouble Helical Gear WheelPinion Shaft High Speed Gearboxes Custom Built Gearboxes Best in class Gear Solutions Strong Brand Name Widest Market Reach Focus on Customer Solutions One of Asia’s Largest Gear Solution Provider Marine Gearboxes EON2 Series Gearboxes Central Drive Mill Gearboxes Gear Division – Providing a wide variety of solutions
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Strength through Diversification STEEL POWER SUGAR MARINE PLASTIC RUBBER MINING INDUSTRIAL APPLICATIONS CEMENT
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End User Industry Steel Cement Mining Fertilizer Ports Power Oil & Gas Pioneers in manufacturing Bulk MHE Largest supplier of Stockyard Machines & Wagon tipplers in India Enhanced diversification across industries Widest range of products Maintaining highest standards of safety Consistent delivery of high-quality products instills customer reliance Robust In-House design and manufacturing capabilities Focus on Product & after-market Business Our Diversified Product Portfolio Feeders Automatic Weighing Stackers / Reclaimers Raw Material Handling System Wagen Tippler Specialized Conveyors Pulleys Mobile Stacker Port Equipment Truck Loader MHE Division: Powering Industrial Growth
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Board of Directors Mr. Prayasvin B. Patel Chairman & Managing Director With over 5 decades of experience, Mr. Prayasvin B. Patel brings strong technical and commercial expertise. He holds a bachelor’s degree in mechanical engineering and is an MBA graduate from USA. Moreover, he plays a key role in strategy across the Gear and MHE divisions, overseeing marketing and business development. Mr. Pradip M. Patel Non-Independent & Non-Executive Director With over 5 decades of experience in the bearing industry, Mr. Pradip M. Patel brings a wealth of knowledge and insight to the business. He is an MBA from a university in USA and excels in leadership, strategic planning, and providing strong operational direction, playing a key role in driving growth and performance. Mr. Prashant C. Amin Non-Independent & Non-Executive Director With over 4 decades of experience in leading and operating enterprises, Mr. Prashant C. Amin has demonstrated strong leadership in successfully acquiring, integrating, and managing foreign companies. He completed his MBA in USA, along with a master’s degree in engineering and management. Mr. Aayush A. Shah Executive Director He holds a degree in M. E. from the Georgia Institute of Technology, USA. He served as the Executive Director of Power Build Private Limited, where he played a key role in steering the company through challenging business environments and achieving significant milestones, contributing to its continued growth and development. Mr. Pranav C. Amin Independent Director He is a graduate in Economics/Industrial Management and MBA in International Management. With his deep expertise in strategic leadership and organizational management, he brings both a global outlook and sharp business insight to every decision. Mr. Ashutosh A. Pednekar Independent Director He is a practicing Chartered Accountant and is a Partner of M. P. Chitale & Co., Chartered Accountants since 1992. He possesses deep expertise in accountancy, finance, risk management, and insurance contracts, bringing valuable insights across these critical areas. Mr. Nirmal Bhogilal Independent Director Over 5 decades of extensive experience in the machine tool building and engineering industry. A graduate in Chemical Engineering from London University, he currently serves as the Chairman of the Batliboi Group. Mrs. Natasha K. Treasurywala Independent Director She holds a Law degree from Mumbai University, a B.A. from New York University and is a qualified Solicitor with the Bombay Incorporated Law Society. She is an advocate and partner at M/s. Desai & Diwanji, where she is part of the corporate commercial practice group. Dr. Savan Godiawala has 34 years of experience in investment banking and financial advisory. He retired as Partner, Deloitte India (March 2024). He is a PhD (Management), Chartered Accountant, Insolvency Professional, PG diploma in Counselling Psychology. Visiting Faculty at IIM Ahmedabad & IIT Gandhinagar. Mr. Savan R. Godiawala Independent Director
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Seasoned Management Team › Joined Gear division as General Manager- Supply Chain Management in 2014. and elevated as Vice President. He brings a wealth of experience, proven leadership track record and a deep understanding of vision and values of the Company with his rich experience of 35 years. Head of Gear Division Mr. Deepak Dalwadi › Joined the Company as an Engineer in Project Department of MHE Division. Over a period of 18 years, he has served across multiple functions like SCM, BD, etc. He brings wealth of experience, proven leadership track record and deep understanding of mission and values of the Company. Head of MHE Division Mr. Kaushik Patel Chief Financial Officer Mr. Chintan Shah › Mr. Chintan Shah brings nearly 19 years of experience in Finance with major roles in driving financial strategies, risk management & ensuring listing compliances. › He is a finance leader with proven track record of enabling growth across multinational & diverse organizations spanning Big4 Consulting, IT services, Engineering Industries, Medical Device & chemical industries.
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…and many more Gear MHE The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only Trusted Supplier to Marquee Clients
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04 ESG Vision *Note: the photo used is for illustrative purposes only, actual product may differ.
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Sustainable towards Environment 55% Energy from Renewable Sources Wind Power: 13.2 MW · Solar Power: 5.5 MW +8.3 MW plant under commission ~95% Lighting Converted to LED Significant reduction in facility energy consumption across all buildings 40% Reduction in Wood Usage Replaced with nail-less eco-packaging — reducing virgin wood use Zero Sewage Discharge STP system reuses all sewage water on-site (zero discharge policy) Elecon’s commitment to 3 United Nations SDG’s Through approval of SBTi, EECL has committed to reduce absolute scope 1 and 2 GHG emissions 54.6% by FY33 from a FY23 base year.
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Elecon's mission is to engage in environmentally responsible practices, contribute to the greater good of society, and ensure the well-being of its employees Health & Medical Promoting Sports Caring for Society Food Distribution for needy Support to Weaker Section of Society Support to Students through Scholarship Initiative for Education and Training Program Career Counselling Session for children of employees Initiative for Special Person Maintaining gardens in the town Sapling distribution under Plantation program Elecon Cricket Academy Elecon Tennis Academy Sponsored State Level Badminton Tournament Provide training to Players Blood Donation Camp Charity to NGOs (both overseas and domestic) for health care and financial support to people affected by critical illness Supporting charitable hospitals with latest medical equipment Health activities for community Healthy Heart Walkathon Health & Safety awareness programs in nearby villages Yoga Session on International Yoga Day Under banner “Aarogyam”, organize various awareness session Elecon Engineering – A Responsible Corporate Blood Donation camp Trophy ceremony at Elecon Cricket Tournament Scholarship Distribution to students of BVM University, Vidyanagar
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Promoting procurements from MSME Dealer and Channel Partner Meet Business Partner Meet Sustainable Supply Chains Web Supplier Portal for sustainable supply chain Conducting Training Program for the customers Business Partner Meet Dealer and Channel Partner Meet Vision for Inclusiveness
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10+ Years average service period of an employee 950+ workforce building team Elecon Creating a gender-diverse workforce “Gurupath”– A succession development programme Leadership Accountability Workshop under “Gurukul” Project Conduct Management Development Programme Initiated workshops on cultural transformation in collaboration with a global leading organization, to strengthen the company's culture, beliefs, and values during the growth phase Sustained Workforce Leadership Program Care & Safety Culture Encouragement Celebrate events for employees' achievements Celebrate various occasions & Prize distribution Felicitated employees using cycle as mode of transport & supporting E-Vehicles Employee’s Children Felicitation on various occasions Awareness on addiction of Tobacco and implementation of “No Tobacco Policy” 104 Unique Learning and Development Programs conducted during the H1FY27 4,900+ trainees attended various training for 4,000+ man hours under continuous learning program Employees inclusiveness through “HR Aapke Nikat” initiative Team Building Activity Host an Engineering Fair as part of Engineer’s week, where employees showcase their creativity through innovative ideas, model displays and more Zero Fatality Health & Hygiene Awareness program 1,998 workman hours imparted to SHE training Conducted training sessions on healthy diets & first aid treatment with certified personnel. Mediclaim for employees and their families and Term Insurance cover for Employees POSH awareness session Organized various session on “Health, Safety & Financial Awareness” Building a Strong Workforce with Care
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05 Historical Performance *Note: the photo used is for illustrative purposes only, actual product may differ. Barrel Type Blender Reclaimer
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1,212 1,530 1,937 2,227 2,366 FY22 FY23 FY24 FY25 FY26 +18.2% 246 339 474 548 523 FY22 FY23 FY24 FY25 FY26 +20.7% 140 238 356 415 341 FY22 FY23 FY24 FY25 FY26 +24.8% 20.3% 22.2% 24.5% 24.6% 22.1% FY22 FY23 FY24 FY25 FY26 11.6% 15.5% 18.4% 18.6% 14.4% FY22 FY23 FY24 FY25 FY26 Total Revenue (₹ Crs.) EBITDA (₹ Crs.) EBITDA Margin (%) Profit After Tax (₹ Crs.) Profit After Tax Margin (%) Historical Consolidated Financial Performance
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13.6% 18.8% 22.4% 21.0% 15.9% FY22 FY23 FY24 FY25 FY26 1. Net worth is calculated as Shareholder’s Equity less Intangible Assets 2. Earning Before Interest and Tax (EBIT) is calculated as Profit Before Tax plus Finance Cost (excluding lease interest) and Capital Employed is calculated as Average of Shareholder’s Equity plus Long Term Borrowing plus Short Term Borrowings plus Deferred Tax Liabilities 3. Debt includes lease liability 4. Quick Assets is calculated as current assets less inventory less prepaid expenses; 5. Net Fixed Asset Turnover is calculated based on Average Net Fixed Assets (i.e., Property, Plant & Equipment and Right-of-Use Plant & Machinery). 0.7 0.9 1.0 0.9 0.8 FY22 FY23 FY24 FY25 FY26 0.14 0.04 0.04 0.09 0.12 FY22 FY23 FY24 FY25 FY26 2.3 2.9 3.7 3.6 3.2 FY22 FY23 FY24 FY25 FY26 1.6 2.6 3.0 3.2 2.9 FY22 FY23 FY24 FY25 FY26 91 84 72 85 98 FY22 FY23 FY24 FY25 FY26 1.1 1.7 2.4 2.7 2.4 FY22 FY23 FY24 FY25 FY26 Return on Networth (%)1 RoCE (%)2 Total Asset Turnover (x) Net Fixed Asset Turnover (x)5 Debt to Equity (x)3 Working Capital Cycle (Days) Current Ratio (x) Quick Ratio (x)4 17.6% 24.0% 29.1% 26.8% 20.4% FY22 FY23 FY24 FY25 FY26 Historical Consolidated Ratios
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Historical Consolidated Profit & Loss Profit and Loss (Rs. Crs.) FY26 FY25 FY24 FY23 FY22 CAGR Revenue from Operations 2,366 2,227 1,937 1,530 1,212 18.2% Raw Material & Manufacturing Cost 1,303 1,185 1,018 836 661 Gross Profit 1063 1042 919 694 551 17.9% Gross Margin (%) 44.9% 46.8% 47.4% 45.4% 45.5% Employee Cost 241 209 188 150 128 Other Expenses 299 285 256 205 176 EBITDA 523 548 475 339 247 20.7% EBITDA Margin (%) 22.1% 24.6% 24.5% 22.2% 20.4% Other Income 81 55 44 20 9 Depreciation 104 61 51 49 49 EBIT 500 542 468 310 207 EBIT Margin (%) 21.1% 24.3% 24.2% 20.3% 17.1% Finance Cost 25 13 9 13 37 Share in profit of Associates 1 8 6 3 1 Profit before Tax & Exceptional Items 476 537 465 300 171 29.2% PBT Margin (%) 20.1% 24.1% 24.0% 19.6% 14.1% Exceptional Income / (Expense) -21 0 0 0 0 Profit before Tax 454 537 465 300 171 27.7% PBT Margin (%) 19.2% 24.1% 24.0% 19.6% 14.1% Tax 113 122 110 62 30 PAT 341 415 356 238 141 24.8% PAT Margin (%) 14.4% 18.6% 18.4% 15.6% 11.6% EPS (Rs.) 15.20 18.50 15.82 10.61 6.28
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Historical Consolidated Balance Sheet Assets (Rs. Crs.) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 ASSETS Non-current assets Property, Plant and Equipment 583 555 516 527 523 Capital work-in-progress 23 7 1 0 1 Right to use of Assets 295 209 106 82 70 Investment property (net) 25 25 25 25 25 Goodwill - 102 102 103 106 Intangible Assets 27 24 20 18 15 Intangible Assets Under Development - - - - - Investments accounted for using the equity method - 71 63 57 54 Financial Assets (i) Investments 148 11 20 1 - (ii) Others Financial Assets 138 0 6 8 2 (iii) Loans - - - - - Deferred Tax Assets (net) - - 1 2 4 Income Tax Asset (net) 13 13 10 10 23 Other non-current assets 27 19 36 12 9 Total Non Current Assetes 1,279 1,033 905 844 832 Current assets Inventories 301 243 230 279 262 Financial Assets (i) Investments 594 415 203 19 - (ii) Trade receivables 721 614 445 346 415 (iii) Cash and cash equivalents 169 159 110 82 84 (iv) Bank balances other than (iii) 43 200 154 128 28 (v) Loans - - - - - (vi) Other Financial Assets 46 14 56 9 68 Other current assets 80 52 21 25 30 Total Current Assets 1,955 1,696 1,219 888 887 Total Assets 3,234 2,729 2,124 1,732 1,719 Equity and Liabilities (Rs. Crs.) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 EQUITY AND LIABILITIES EQUITY Equity Share Capital 22 22 22 22 22 Other Equity 2,283 1,976 1,582 1,257 1,028 Shareholders Funds 2,306 1,999 1,604 1,279 1,050 Non-Current Liabilities Financial Liabilities (i) Borrowings - - - - 20 (ii) Lease Liability 216 147 59 40 32 Provisions 2 3 17 33 49 Other non-current liabilities 3 21 18 11 - Deferred Tax Liabilities (net) 42 23 26 26 28 Total Non Current Liabilities 262 194 121 110 129 Current liabilities Financial Liabilities (i) Borrowings - 3 - - 80 (ii) Lease Liability 57 31 11 11 19 (iii) Trade Payables 288 280 188 196 270 (iii) Other Financial Liabilities 96 49 45 6 8 Other Current Liabilities 190 143 130 111 118 Provisions 24 23 17 13 23 Current tax liabilities (net) 10 7 8 5 21 Total Current Libilities 666 537 399 343 540 Total Liabilities 3,234 2,729 2,124 1,732 1,719
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Historical Consolidated Cash Flow Statement Particulars (Rs Crs.) FY26 FY25 FY24 FY23 FY22 Profit before Tax 454 537 465 300 171 Adjustment for Non-Operating Items 85 32 50 39 106 Operating Profit before Working Capital Changes 539 569 516 338 277 Changes in Working Capital (117) (16) (43) 37 (22) Cash Generated from Operations 422 552 472 375 254 Less: Direct Taxes paid (Net of Refund) 111 127 108 66 31 Net Cash from Operating Activities 312 425 365 309 223 Cash Flow from Investing Activities (220) (316) (279) (166) 15 Cash Flow from Financing Activities (122) (67) (59) (145) (250) Net increase/ (decrease) in Cash & Cash equivalent (30) 42 27 (2) (12) Exchange difference arising on conversion taken to FCTR 40 7 - - - Cash and cash equivalents at the beginning of the period 159 110 82 84 96 Cash and cash equivalents at the end of the period 169 159 110 82 84
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Thank You ELECON ENGINEERING COMPANY LIMITED CIN: L29100GJ1960PLC001082 Ashish Jain Email: arjain@elecon.com For updates and specific queries, please visit www.elecon.com