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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹568 Cr.
Stock P/E
19.4
P/B
1
Current Price
₹114.3
Book Value
₹ 112
Face Value
5
52W High
₹233.6
52W Low
₹ 94
Dividend Yield
0%

Elin Electronics Overview

Business

Elin Electronics Ltd. is an Indian Electronics Manufacturing Services (EMS) provider and Original Design Manufacturer (ODM). The company is primarily engaged in the manufacturing and assembly of a wide range of electronic components and finished products across various product categories, particularly for consumer durables. This includes products like fractional horsepower motors, kitchen appliances, personal care products, lighting products, and components for medical diagnostic equipment and automotive sector. They operate on a business-to-business (B2B) model, providing manufacturing solutions to other brands, and generate revenue through the sale of these manufactured goods and associated services.

Revenue Mix

Specific detailed segment-wise revenue contribution is not available in the provided information. However, based on their operations as an EMS provider, their revenue typically comes from manufacturing and assembly across diverse product categories such as:

Home Appliances (e.g., kitchen appliances, personal care)

Lighting Products

Automotive Components

Medical Diagnostic Components

Fractional Horsepower Motors

The company likely derives revenue from both pure manufacturing services and ODM services where they also contribute to product design and development.

Industry

The Indian Consumer Durables - Electronics industry is characterized by strong domestic demand, a push for localization ("Make in India"), and increasing outsourcing trends by brand owners. It is a competitive industry with both organized and unorganized players, as well as significant import competition. Elin Electronics positions itself as an established and diversified EMS/ODM player with capabilities across multiple product categories. They serve a range of large, well-known brands, which indicates a reputation for quality and reliability in the outsourcing space. Their broad product portfolio helps them mitigate risks associated with over-reliance on a single product segment.

MOAT

Elin's competitive advantages likely stem from:

Established Manufacturing Infrastructure & Scale: Multiple manufacturing facilities and years of operational experience provide economies of scale and efficient production capabilities.

Design & Engineering Capabilities (ODM): Ability to offer not just manufacturing but also product design and development, adding value to clients beyond pure assembly.

Long-Standing Client Relationships: Established relationships with various prominent brands can lead to repeat business and deeper integration into client supply chains, creating switching costs.

Diversified Product Portfolio: Expertise across various electronic products and components reduces dependence on any single product category.

Quality & Reliability: Demonstrated ability to meet the stringent quality and volume requirements of large brands.

Growth Drivers

"Make in India" & Production Linked Incentive (PLI) Schemes: Government initiatives promoting domestic manufacturing reduce reliance on imports and provide incentives for local production.

Increasing Outsourcing by Brands: Global and domestic brands increasingly outsource manufacturing to focus on core competencies like marketing and R&D.

Growing Domestic Demand: Rising disposable incomes and urbanization in India drive demand for consumer durables and electronics.

Expansion into New Product Categories/Clients: Diversification into emerging electronic product segments or acquiring new clients can fuel growth.

Technological Upgrades & Automation: Investment in advanced manufacturing technologies can improve efficiency and expand capabilities.

Risks

Client Concentration: Over-reliance on a few large clients could lead to significant revenue volatility if a major client scales back orders or switches manufacturers.

Input Cost Volatility: Fluctuations in prices of raw materials (e.g., electronic components, plastics, metals) can impact profit margins.

Technological Obsolescence: Rapid changes in technology in the electronics sector necessitate continuous R&D and capital expenditure to remain competitive.

Intense Competition: The EMS sector is highly competitive with both domestic and international players, leading to pressure on pricing.

Supply Chain Disruptions: Geopolitical events, natural disasters, or global shortages (e.g., semiconductor chips) can disrupt production.

Forex Fluctuations: Exposure to currency movements if importing raw materials or exporting finished goods.

Management & Ownership

Elin Electronics is an Indian publicly listed company, likely led by a professional management team. In India, promoter groups typically hold a significant stake and play a crucial role in the company's strategic direction. While specific names are not provided in the prompt, the company's long operational history suggests an experienced leadership team guiding its manufacturing and business development efforts.

Outlook

Elin Electronics is positioned to capitalize on India's burgeoning consumer electronics market and the government's strong impetus for domestic manufacturing through schemes like "Make in India" and PLIs. Its established position as a diversified EMS/ODM provider with strong client relationships provides a foundation for growth. The company's ability to innovate, expand its product portfolio, and acquire new clients will be key to leveraging these tailwinds. However, the business faces inherent risks from intense competition, volatility in raw material prices, potential client concentration, and the need for continuous technological upgrades. Effective supply chain management and strategic diversification will be critical for sustained profitability and market leadership in this dynamic industry.

Elin Electronics Share Price

Live · BSE / NSE · Inception: 1982
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Elin Electronics Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 237 278 294 305 266 316 295 375 294 324
Other Income 2 2 2 3 2 11 3 2 2 1
Total Income 239 280 296 307 268 327 298 376 295 325
Total Expenditure 228 265 280 293 259 296 278 354 282 318
Operating Profit 10 15 16 14 10 31 21 22 13 7
Interest 2 2 2 2 2 2 2 2 2 2
Depreciation 5 7 6 5 6 7 6 6 6 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 -1 0
Profit Before Tax 4 5 8 6 2 22 13 14 5 -2
Provision for Tax 1 2 2 2 1 5 3 4 1 -1
Profit After Tax 3 4 6 5 1 17 9 10 4 -1
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 3 4 6 5 1 17 9 10 4 -1
Adjusted Earnings Per Share 0.6 0.7 1.2 1 0.3 3.5 1.9 2.1 0.8 -0.2

Elin Electronics Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 475 438 494 618 786 862 1094 1075 1042 1180 1288
Other Income 1 1 1 1 1 3 1 2 9 18 8
Total Income 476 439 495 618 787 865 1095 1078 1051 1199 1294
Total Expenditure 436 403 457 575 730 796 1015 1010 1001 1128 1232
Operating Profit 41 37 38 43 56 69 80 67 50 71 63
Interest 9 9 9 11 12 10 13 13 8 8 8
Depreciation 9 11 12 14 20 12 14 19 22 25 24
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 -1
Profit Before Tax 23 16 17 18 24 47 53 36 20 39 30
Provision for Tax 5 4 4 3 6 13 14 9 6 9 7
Profit After Tax 18 13 13 15 19 35 39 27 14 29 22
Adjustments 2 2 2 3 0 0 0 0 0 0 0
Profit After Adjustments 20 14 15 18 19 35 39 27 14 29 22
Adjusted Earnings Per Share 5.2 3.7 4.1 4.7 4.6 8.5 9.6 5.6 2.9 6 4.6

Elin Electronics Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 116 130 145 163 209 262 303 493 503 534
Minority's Interest 0 0 0 0 0 0 0 0 0 0
Borrowings 25 31 32 39 40 37 34 40 0 0
Other Non-Current Liabilities -0 0 1 0 1 9 10 12 12 14
Total Current Liabilities 89 74 112 136 126 200 185 190 154 186
Total Liabilities 229 235 289 337 376 508 533 734 669 734
Fixed Assets 66 79 84 99 134 161 188 232 224 246
Other Non-Current Assets 27 26 41 47 17 21 23 41 22 12
Total Current Assets 136 130 164 191 225 326 322 461 423 476
Total Assets 229 235 289 337 376 508 533 734 669 734

Elin Electronics Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 3 3 2 11 3 9 5 4 0 0
Cash Flow from Operating Activities 17 36 44 15 83 -34 57 62 43 17
Cash Flow from Investing Activities -27 -23 -30 -27 -43 -5 -28 -197 36 -21
Cash Flow from Financing Activities 10 -14 -5 3 -33 34 -30 131 -79 4
Net Cash Inflow / Outflow 0 -1 9 -8 6 -4 -1 -4 -0 -0
Closing Cash & Cash Equivalent 3 2 11 2 9 5 4 0 0 0

Elin Electronics Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 5.25 3.72 4.06 4.68 4.55 8.53 9.59 5.59 2.89 6.02
CEPS(Rs) 7.03 6.28 6.73 7.62 9.51 11.43 13.11 9.48 7.45 11.07
DPS(Rs) 0 0 0 0 0 0 1 1 0 0
Book NAV/Share(Rs) 30.63 34.35 38.41 43.09 51.13 64.22 74.22 102.89 104.97 109.64
Core EBITDA Margin(%) 7.5 7.26 7.44 6.87 7.05 7.71 7.22 6.05 3.89 4.44
EBIT Margin(%) 6.08 5.2 5.15 4.72 4.6 6.63 6 4.53 2.67 3.91
Pre Tax Margin(%) 4.32 3.36 3.4 2.95 3.11 5.51 4.83 3.32 1.89 3.26
PAT Margin (%) 3.37 2.57 2.59 2.39 2.37 4.04 3.58 2.49 1.33 2.48
Cash Profit Margin (%) 5.05 4.86 5.01 4.65 4.95 5.41 4.89 4.22 3.43 4.57
ROA(%) 7.72 5.4 5.01 4.71 5.21 7.88 7.53 4.23 1.98 4.18
ROE(%) 15.31 10.21 9.56 9.59 10.01 14.8 13.86 6.73 2.79 5.65
ROCE(%) 17.29 13.67 13.3 13.06 13.94 17.46 16.78 9.99 5.09 8.5
Receivable days 55.54 58.96 57.78 55.86 45.82 57.89 60.07 63.6 69.53 65.87
Inventory Days 30.55 31.93 33.87 34.84 33.72 41.24 39.16 41.26 40.99 36.87
Payable days 37.33 44.05 52.57 54.77 46.42 50.46 45.6 51.8 55.75 48.61
PER(x) 0 0 0 0 0 0 0 21.59 45.94 19.74
Price/Book(x) 0 0 0 0 0 0 0 1.17 1.27 1.08
Dividend Yield(%) 0 0 0 0 0 0 0 0.83 0 0
EV/Net Sales(x) 0.15 0.14 0.12 0.13 0.08 0.13 0.11 0.52 0.63 0.49
EV/Core EBITDA(x) 1.78 1.67 1.49 1.87 1.18 1.67 1.47 8.27 13.2 8.15
Net Sales Growth(%) 0 -7.79 12.83 24.95 27.18 9.78 26.83 -1.68 -3.13 13.29
EBIT Growth(%) 0 -20.66 2.9 11.58 23.99 58.31 14.71 -25.64 -42.99 65.83
PAT Growth(%) 0 -29.29 4.82 12.41 26.02 87.57 12.41 -31.59 -48.24 111.35
EPS Growth(%) 0 -29.13 9.22 15.3 -2.82 87.57 12.41 -41.71 -48.24 107.97
Debt/Equity(x) 0.6 0.44 0.42 0.47 0.34 0.43 0.34 0.16 0.04 0.05
Current Ratio(x) 1.53 1.75 1.47 1.41 1.78 1.63 1.74 2.43 2.74 2.56
Quick Ratio(x) 1.04 1.19 1 0.93 1.15 1.05 1.09 1.78 2.03 1.87
Interest Cover(x) 3.45 2.83 2.94 2.67 3.1 5.91 5.16 3.73 3.43 6.08
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0.13 0.03 0.05

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +13% +3% +8%
Operating Profit CAGR +42% -4% +5%
PAT CAGR +107% -9% +9%
Share Price CAGR -35% -9%
ROE Average +6% +5% +9% +10%
ROCE Average +9% +8% +12% +13%

Elin Electronics Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 32.95 %
FII 0.74 %
DII (MF + Insurance) 5.4 %
Public (retail) 67.05 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 32.9933.4133.4133.4133.4132.9832.9832.9832.9832.95
FII 0.550.350.970.860.380.410.690.780.680.74
DII 11.9311.913.112.5812.0610.777.615.536.145.4
Public 67.0166.5966.5966.5966.5967.0267.0267.0267.0267.05
Others 0000000000
Total 100100100100100100100100100100

Elin Electronics Peer Comparison

Consumer Durables - Electronics Edit Columns

Elin Electronics Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Elin Electronics Pros & Cons

Pros

  • Debtor days have improved from 55.75 to 48.61days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 32.95%.
  • Company has a low return on equity of 5% over the last 3 years.
  • The company has delivered a poor profit growth of 8% over past five years.
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