Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Eimco Elecon (India) Ltd

EIMCOELECO
Capital Goods - Engineering Heavy

Eimco Elecon (India) Ltd's earnings have outrun its stock. EPS grew +26.9% in a year against a −25.6% price move.

The sharpest disagreement: profits are rising, but only 48% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a downtrend (43 weeks in) while the P/E sits at the 75th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +116.7% year on year, and 48% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Mixed
partial read
Price
₹1,780
−25.6% 1Y
P/E
26.8×
75th pctile
of its own 11-year range
Revenue (Dec 25)
₹63.0 Cr
+37.0% YoY
Profit (Dec 25)
₹13.0 Cr
+116.7% YoY
Operating margin
20.0%
+3.0 pp YoY
ROCE
16%
FY25
ROIC
6.4%
vs WACC 12.0% → −5.6 pp
Cash conversion
48%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Eimco Elecon (India) Ltd trades at ₹1,780, in a downtrend and 43 weeks into that stage. That is +2.9% against its own 200-day average. It sits at 37% of a 52-week range of ₹1,502 to ₹2,248. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 8 straight weeks.

Today the stock is in a downtrend — week 43 of stage 4. At ₹1,780 it trades +2.9% versus its 200-day average and sits at 37% of its 52-week range (₹1,502–₹2,248).

Jul 26: ₹1,780 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+2.9% versus the 200-day line, week 43 of stage 4
Price50-day avg200-day avg
S2S4S2S4₹3,550₹2,734₹1,917₹1,101₹284₹1,780₹1,730Jul 23May 24Feb 25Nov 25Jul 26
S2S4S2S4₹3,550₹2,734₹1,917₹1,101₹284₹1,780₹1,730Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (546 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +463% while the NIFTY 500 moved +276% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 8 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Eimco Elecon (India) Ltd trades at 26.8× P/E, at the pricey end of its own range (75th percentile). Its long-run median P/E is 16.9×, measured across 10.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 26.8× is at the pricey end of its own range (75th percentile), against a long-run median of 16.9× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 26.8× vs a 16.9× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.5-year window; loss-period spikes above 44× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (75th percentile)
P/EMedianEPS (TTM) (quarterly)
46.5×₹71.936.1×₹53.925.7×₹35.915.2×₹18.04.8×₹0.0×26.80×₹66Feb 16Oct 18May 21Jan 24Jul 26
46.5×₹71.936.1×₹53.925.7×₹35.915.2×₹18.04.8×₹0.0×26.80×₹66Feb 16May 21Jul 26
P/E
26.8×
75th percentile of 11y

Why the multiple sits where it does: over the past year annual EPS moved +26.9% against a −25.6% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +31.1%/yr price move, ~+27.6%/yr came from earnings growth and ~+3.5 pp from the multiple (expanding); over 10y, of the +15.3%/yr price move, ~+7.6%/yr came from earnings growth and ~+7.7 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

03 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Eimco Elecon (India) Ltd reads as mixed on its fundamental arc. Mixed — revenue, profit and EPS growth are shrinking while ROCE is still lifting at 16.0% — falling growth against firm returns, so no single stage word fits yet. The read is built from 12 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue +7.9% in FY25, profit +25.6% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
118%140%75%86%32%32%−11%−22%−53%−76%%%7.9%25.6%FY15FY20FY25
118%140%75%86%32%32%−11%−22%−53%−76%%%7.9%25.6%FY15FY20FY25
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue rolling over, profit rolling over
RevenueProfitEPS
112%326%76%232%40%139%4.4%46%−32%−47%%%−14.6%−4.1%−3.4%Mar 23Jun 24Dec 25
112%326%76%232%40%139%4.4%46%−32%−47%%%−14.6%−4.1%−3.4%Mar 23Jun 24Dec 25
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
17%13%9.5%5.7%2.0%%16%FY22FY23FY25
17%13%9.5%5.7%2.0%%16%FY22FY23FY25
Revenue growth
Falling
latest −14.6% · span −21.6% to +102.4%
Profit growth
Falling
latest −4.1% · span −21.6% to +333.3%
EPS growth
Falling
latest −3.4% · span −18.6% to +364.0%
ROCE
Rising
latest 16.0% · span 3.0%–16.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+7.9%+43.1%+17.9%+2.3%
Profit+25.6%+75.9%+40.3%+8.3%
EPS+26.9%+77.9%+38.8%+8.6%
Share price−25.6%+32.3%+31.1%+15.3%
Revenue YoY (Dec 25)
+37.0%
latest quarter vs a year ago
Profit YoY (Dec 25)
+116.7%
latest quarter vs a year ago
Revenue 10y
2.3%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

49.1/100 — rank 8 of 16 in Capital Goods - Engineering Heavy · 73% evidence confidence

Eimco Elecon (India) Ltd scores 49.1 out of 100 against the 16 companies it is compared with in Capital Goods - Engineering Heavy, ranking 8. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 14.1 + 14.4 + 9.5 + 11.1 = 49.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Eimco Elecon (India) Ltd reported ₹63.0 Cr of revenue in the Dec 25 quarter, +37.0% year on year. Over 10 years it has compounded at 2.3% a year. The last full year, FY25, came in at ₹246 Cr. The last four reported quarters add to ₹228 Cr.

FY25 revenue came in at ₹246 Cr (+7.9% on the year), capping 10 years at 2.3% compound. The latest quarter (Dec 25) printed ₹63.0 Cr, +37.0% year on year.

FY25 revenue ₹246 Cr (+7.9% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
2.3% a year over 10 years
RevenueYoY growth
266118%19975%13332%66−11%0−53%₹ Cr%₹2467.9%FY15FY20FY25
266118%19975%13332%66−11%0−53%₹ Cr%₹2467.9%FY15FY20FY25
Dec 25: ₹63.0 Cr (+37.0% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
9188%6851%4514%23−24%0−61%₹ Cr%₹6337%Mar 23Jun 24Dec 25
9188%6851%4514%23−24%0−61%₹ Cr%₹6337%Mar 23Jun 24Dec 25

Pace check: the last four quarters averaged −10.1% growth against the decade's 2.3% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −14.6% over the last 4 quarters against +4.9%/yr over the last 8 — rolling over; TTM profit −4.1% vs +17.6%/yr — rolling over.

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Eimco Elecon (India) Ltd's operating margin is 20.0% in the Dec 25 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 12 fiscal years the operating margin has ranged 5.0% to 23.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 20.0%, +3.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 5.0%–23.0%, and FY25's 23.0% is the top of that band — a record year.

🚨 Why the margin moved: operating margin went −1.1 pp year on year while gross margin went −2.2 pp — the loss came mostly from the gross line: input costs and pricing.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY25: 23.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 12-year window.
the widest a 5.0–23.0% band over 12 years
operating marginYoY change (pp)
24%6.1%19%2.1%14%−2.0%8.8%−6.1%3.6%−10%%%23%5%FY14FY19FY25
24%6.1%19%2.1%14%−2.0%8.8%−6.1%3.6%−10%%%23%5%FY14FY19FY25
Dec 25: 20.0% operating margin (+3.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
30%18%23%11%17%4.5%11%−2.2%4.2%−8.8%%%20%3%Mar 23Jun 24Dec 25
30%18%23%11%17%4.5%11%−2.2%4.2%−8.8%%%20%3%Mar 23Jun 24Dec 25
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Eimco Elecon (India) Ltd earned ₹13.0 Cr of net profit in the Dec 25 quarter, +116.7% year on year. Full-year FY25 profit was ₹49.0 Cr. The 10-year compound rate is 8.3%. That is 20.6% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr.

Dec 25 profit was ₹13.0 Cr, +116.7% year on year. On the full year, FY25 printed ₹49.0 Cr (+25.6%), and the 10-year compound rate is 8.3%.

FY25 profit ₹49.0 Cr (+25.6% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
8.3% a year over 10 years
Net profitYoY growth
53137%4084%2631%13−22%0−76%₹ Cr%₹4925.6%FY15FY20FY25
53137%4084%2631%13−22%0−76%₹ Cr%₹4925.6%FY15FY20FY25
Dec 25: ₹13.0 Cr (+116.7% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
16221%12145%869%4−6.6%0−82%₹ Cr%₹13116.7%Mar 23Jun 24Dec 25
16221%12145%869%4−6.6%0−82%₹ Cr%₹13116.7%Mar 23Jun 24Dec 25

Why profit moved: revenue contributed +37.0% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +12.1% vs revenue −10.1%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 48% of Eimco Elecon (India) Ltd's reported profit arrived as operating cash — a gap worth watching. In FY25 that was ₹33.0 Cr of operating cash against ₹49.0 Cr of profit. After ₹6.0 Cr of capital spending, ₹27.0 Cr was left as free cash.

FY25: operating cash of ₹33.0 Cr against reported profit of ₹49.0 Cr, leaving free cash of ₹27.0 Cr after ₹6.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 48% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY25: CFO ₹33.0 Cr vs profit ₹49.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
48% of 3-year profit arrived as cash
Operating cashNet profitFree cash
5436191−17₹ Cr₹33₹49₹27FY15FY20FY25
5436191−17₹ Cr₹33₹49₹27FY15FY20FY25
FY25: CFO = 67% of profit (three-year rate 48%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
267%166%64%−38%−139%%67%FY15FY20FY25
267%166%64%−38%−139%%67%FY15FY20FY25

🚨 Why conversion sits at 48%: the cash cycle stretched 92 days between FY20 and FY25 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 92 days — the next section's job is to find where the cash is stuck.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Eimco Elecon (India) Ltd's cash conversion cycle runs 432 days in FY25, up from 340 days in FY20. Capital spending ran ₹13.0 Cr over the last 3 years. At FY25 sales of ₹246 Cr each day of that cycle holds about ₹0.7 Cr, so roughly ₹291 Cr sits inside the business at any moment.

FY25: debtors at 101 days, inventory at 387 days — roughly 12.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 432 days, looser than FY20's 340.

The full loop: cash goes out to suppliers and production on day 0; stock waits 387 days to sell; customers pay about 101 days after that; and suppliers themselves are paid at 56 days — netting out to the 432-day cycle.

In money terms: at FY25 sales of ₹246 Cr, each day of the cycle holds about ₹0.7 Cr — so the 432-day loop keeps roughly ₹291 Cr sitting inside the business at any moment.

FY25: a 432-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 12-year window.
+92 days vs FY20
Cash cycleInventory daysDebtor daysPayable days
7585703811930days432d387d101d56dFY14FY16FY19FY22FY25
7585703811930days432d387d101d56dFY14FY19FY25

On the investment side: capital spending of ₹13.0 Cr over the last 3 fiscal years against ₹23.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹1.0 Cr (FY25) — capacity paid for but not yet earning.

FY25: capex ₹6.0 Cr, work-in-progress ₹1.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
463523120₹ Cr₹6₹1FY15FY17FY20FY22FY25
463523120₹ Cr₹6₹1FY15FY20FY25

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Eimco Elecon (India) Ltd earns a ROCE of 16% in FY25. That is up from a trough of 3% in FY20. Return on invested capital clears the cost of that capital by −5.6 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 19.9% net margin on 0.50× asset turns.

FY25 ROCE is 16%, recovered from a FY20 trough of 3% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY25): 19.9% net margin × 0.50× asset turns × 1.13× balance-sheet leverage ≈ 11.2% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 6.4% − 12.0% = a −5.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY25: ROCE 16% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 12-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY20's 3%
ROCEROIC (annual)WACC
17%13%8.3%3.8%−0.6%%16%9.6%FY14FY19FY25
17%13%8.3%3.8%−0.6%%16%9.6%FY14FY19FY25
Q4 FY26: ROCE 7.8% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%11%8.7%6.8%4.9%%7.8%6.6%Q2 FY24Q3 FY25Q1 FY27
13%11%8.7%6.8%4.9%%7.8%6.6%Q2 FY24Q3 FY25Q1 FY27
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Eimco Elecon (India) Ltd carries total debt of ₹4.0 Cr against shareholder equity of ₹468 Cr as of Jun 26, a debt-to-equity of 0.01 — effectively unlevered. On the annual view that ratio went from 0.00 in FY22 to 0.01 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Jun 26: total debt of ₹4.0 Cr against shareholder equity of ₹468 Cr — a debt-to-equity of 0.01. On the annual view, debt-to-equity went from 0.00 (FY22) to 0.01 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹4.0 Cr at 0.01× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
40.011×30.008×20.005×10.002×0−0.001×₹ Cr×₹40.01×FY22FY24FY26
40.011×30.008×20.005×10.002×0−0.001×₹ Cr×₹40.01×FY22FY24FY26
Jun 26: debt ₹4.0 Cr, debt-to-equity 0.01 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
40.011×30.008×20.005×10.002×0−0.001×₹ Cr×₹40.01×Sep 23Dec 24Jun 26
40.011×30.008×20.005×10.002×0−0.001×₹ Cr×₹40.01×Sep 23Dec 24Jun 26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 25.1 points of Eimco Elecon (India) Ltd over 8 quarters, the biggest move on the register. That takes promoters to 49.0% of the company. Foreign institutions moved +3.1 points over the same window, to 3.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −25.1 points over 8 quarters to 49.0%; Foreign institutions: +3.1 points over 8 quarters to 3.3%; Domestic institutions: +0.6 points over 8 quarters to 1.0%.

🚨 Why the register moved: promoters drove it (−25.1 points), absorbed on the other side by foreign institutions (+3.1 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −25.1 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
80%59%37%16%−5.9%%49.0%3.1%1.1%46.9%Mar 24Mar 25Mar 26
80%59%37%16%−5.9%%49.0%3.1%1.1%46.9%Mar 24Mar 25Mar 26
Promoters cut 25.1 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
80%59%37%16%−5.9%%49.0%3.3%1.0%46.8%Jun 23Dec 24Jun 26
80%59%37%16%−5.9%%49.0%3.3%1.0%46.8%Jun 23Dec 24Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Eimco Elecon (India) Ltd: the Z-score reads 13.97. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

Why it matters: a Z-score of 13.97 sits well clear of the distress zone — the balance sheet is not the risk here.

The safety line in one sentence: the Z-score reads 13.97.

14 · Related companies · Capital Goods - Engineering Heavy
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1JNK India LtdJNKINDIA 75.3/100Favorable setup79% evidence LEADER 30.3/35 Revenue 71.5% · PAT 100% · OPM change 6 pp 88% evidence 15.6/25 ROCE 17.4% · OPM 14% 100% evidence 10.2/20 P/E 37.7× · PEG — 15% evidence 19.2/20 RS sector 24.3% · RS bench 39.1% · 1Y 33.5%12 of 12 weeks ahead 100% evidence
Exact sum: 30.3 + 15.6 + 10.2 + 19.2 = 75.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Suzlon Energy LtdSUZLON 67.0/100Favorable setup94% evidence ASLEEP 24.4/35 Revenue 45.2% · PAT 50.1% · OPM change -3 pp 100% evidence 16.9/25 ROCE 35.1% · OPM 16% 100% evidence 19.3/20 P/E 20.8× · PEG 0.47 100% evidence 6.4/20 RS sector -7.6% · RS bench -9.8% · 1Y -24.5%7 of 10 weeks ahead 70% evidence
Exact sum: 24.4 + 16.9 + 19.3 + 6.4 = 67 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.6% and the one-year return is -24.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3Disa India LtdDISAQ 63.5/100Mixed-positive evidence77% evidence ASLEEP 18.2/35 Revenue 9.2% · PAT 6% · OPM change 0 pp 83% evidence 21.3/25 ROCE 26.6% · OPM 17% 95% evidence 12.7/20 P/E 31.6× · PEG — 50% evidence 11.3/20 RS sector 3% · RS bench -3.9% · 1Y -14.3%0 of 7 weeks ahead 70% evidence
Exact sum: 18.2 + 21.3 + 12.7 + 11.3 = 63.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Concord Control Systems Ltd543619 59.3/100Mixed-positive evidence66% evidence FADING 21.5/35 Revenue 100% · PAT 100% · OPM change 10 pp 48% evidence 21.1/25 ROCE 30.6% · OPM 30% 76% evidence 8.9/20 P/E 62.1× · PEG — 50% evidence 7.8/20 RS sector -2.5% · RS bench 11.3% · 1Y 131.9%8 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 21.1 + 8.9 + 7.8 = 59.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Bharat Heavy Electricals LtdBHEL 59.2/100Mixed-positive evidence67% evidence LEADER 25.1/35 Revenue 27% · PAT 100% · OPM change 17 pp 71% evidence 8.3/25 ROCE 9.1% · OPM 7% 76% evidence 9.6/20 P/E 58.3× · PEG — 15% evidence 16.2/20 RS sector 19.6% · RS bench 35% · 1Y 69.5%12 of 12 weeks ahead 100% evidence
Exact sum: 25.1 + 8.3 + 9.6 + 16.2 = 59.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6John Cockerill India LtdCOCKERILL 55.6/100Mixed-positive evidence65% evidence TURNING 23.6/35 Revenue 62.6% · PAT 100% · OPM change 2.1 pp 65% evidence 6.1/25 ROCE 9.4% · OPM 1.4% 100% evidence 9.1/20 P/E 215.9× · PEG — 15% evidence 16.8/20 RS sector 28.1% · RS bench 46.6% · 1Y 98.9%8 of 8 weeks ahead 70% evidence
Exact sum: 23.6 + 6.1 + 9.1 + 16.8 = 55.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Walchandnagar Industries LtdWALCHANNAG 49.5/100Mixed-negative evidence65% evidence FADING 22.1/35 Revenue 6.2% · PAT 82.9% · OPM change 93.2 pp 62% evidence 5.0/25 ROCE 4.2% · OPM 4.5% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 12.4/20 RS sector 3.2% · RS bench 16.4% · 1Y 13%10 of 12 weeks ahead 100% evidence
Exact sum: 22.1 + 5 + 10 + 12.4 = 49.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Eimco Elecon (India) Ltdthis pageEIMCOELECO 49.1/100Mixed-negative evidence73% evidence TURNING 14.1/35 Revenue -14.6% · PAT -4.1% · OPM change 3 pp 71% evidence 14.4/25 ROCE 13.2% · OPM 20% 95% evidence 9.5/20 P/E 26.8× · PEG — 50% evidence 11.1/20 RS sector 0.5% · RS bench 1.2% · 1Y -24.2%3 of 10 weeks ahead 70% evidence
Exact sum: 14.1 + 14.4 + 9.5 + 11.1 = 49.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9The Anup Engineering LtdANUP 46.8/100Mixed-negative evidence83% evidence TURNING 13.2/35 Revenue 12.1% · PAT -6.7% · OPM change -4 pp 88% evidence 21.1/25 ROCE 20.7% · OPM 18% 100% evidence 4.8/20 P/E 39× · PEG 5.03 65% evidence 7.7/20 RS sector -11.6% · RS bench 2.1% · 1Y -18.3%7 of 10 weeks ahead 70% evidence
Exact sum: 13.2 + 21.1 + 4.8 + 7.7 = 46.8 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
10Integra Engineering India Ltd505358 39.8/100Mixed-negative evidence75% evidence ASLEEP 9.4/35 Revenue 1.7% · PAT -16.6% · OPM change -3.5 pp 95% evidence 17.6/25 ROCE 18.5% · OPM 16.4% 76% evidence 10.0/20 P/E 38.5× · PEG — 15% evidence 2.8/20 RS sector -27.3% · RS bench -17.2% · 1Y -32.9%9 of 12 weeks ahead 100% evidence
Exact sum: 9.4 + 17.6 + 10 + 2.8 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Kabra Extrusion Technik LtdKABRAEXTRU 38.8/100Mixed-negative evidence66% evidence TURNING 14.7/35 Revenue 3.1% · PAT -80% · OPM change 8.4 pp 71% evidence 4.7/25 ROCE 0.1% · OPM 5% 95% evidence 8.7/20 P/E 1973× · PEG — 15% evidence 10.7/20 RS sector -6.2% · RS bench 57.8% · 1Y 35.8%4 of 10 weeks ahead 70% evidence
Exact sum: 14.7 + 4.7 + 8.7 + 10.7 = 38.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Inox Wind LtdINOXWIND 38.3/100Mixed-negative evidence83% evidence ASLEEP 14.5/35 Revenue 23.5% · PAT 5.9% · OPM change -4 pp 88% evidence 7.8/25 ROCE 10.5% · OPM 16% 100% evidence 12.8/20 P/E 33.3× · PEG 1.22 65% evidence 3.2/20 RS sector -28.6% · RS bench -31.6% · 1Y -50%0 of 10 weeks ahead 70% evidence
Exact sum: 14.5 + 7.8 + 12.8 + 3.2 = 38.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Hercules Investments LtdHERCULES 38.1/100Thin evidence · provisional55% evidence 13.8/35 Revenue -80% · PAT -74.3% · OPM change 3.7 pp 45% evidence 7.8/25 ROCE 5.7% · OPM — 60% evidence 12.7/20 P/E 8.6× · PEG — 50% evidence 3.8/20 RS sector -23.6% · RS bench -33% · 1Y -46.5%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 13.8 + 7.8 + 12.7 + 3.8 = 38.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14Windsor Machines LtdWINDMACHIN 37.0/100Mixed-negative evidence65% evidence ASLEEP 17.9/35 Revenue 54.7% · PAT 45.8% · OPM change -3.2 pp 65% evidence 3.5/25 ROCE 2.1% · OPM 5.9% 100% evidence 8.5/20 P/E 2421× · PEG — 15% evidence 7.1/20 RS sector -10.1% · RS bench -1.2% · 1Y -17.6%7 of 10 weeks ahead 70% evidence
Exact sum: 17.9 + 3.5 + 8.5 + 7.1 = 37 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Bajaj Steel Industries LtdBAJAJST 33.7/100Adverse evidence77% evidence ASLEEP 7.0/35 Revenue -10.4% · PAT -56.2% · OPM change -10.9 pp 83% evidence 13.4/25 ROCE 11.7% · OPM 4.8% 95% evidence 8.5/20 P/E 22.3× · PEG — 50% evidence 4.8/20 RS sector -20% · RS bench -15.9% · 1Y -32.2%0 of 7 weeks ahead 70% evidence
Exact sum: 7 + 13.4 + 8.5 + 4.8 = 33.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Praj Industries LtdPRAJIND 22.3/100Adverse evidence90% evidence ASLEEP 5.1/35 Revenue -1.9% · PAT -80% · OPM change -6.2 pp 88% evidence 6.9/25 ROCE 6.1% · OPM 2.8% 100% evidence 0.5/20 P/E 288× · PEG 4.5 100% evidence 9.8/20 RS sector 1.4% · RS bench -11% · 1Y -35.5%4 of 10 weeks ahead 70% evidence
Exact sum: 5.1 + 6.9 + 0.5 + 9.8 = 22.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Eimco Elecon (India) Ltd's share price today?

Eimco Elecon (India) Ltd trades at ₹1,780, −25.6% over the past year. The company is valued at ₹1,028 Cr. The stock sits at 37% of its 52-week range of ₹1,502–₹2,248, +2.9% versus its 200-day average. On the tape, the price is in a downtrend, 43 weeks in. — as of 31 July 2026.

What were Eimco Elecon (India) Ltd's latest quarterly results?

Eimco Elecon (India) Ltd reported revenue of ₹63.0 Cr and net profit of ₹13.0 Cr for the Dec 25 quarter. Revenue rose 37.0% and profit rose 116.7% year on year. Earnings per share were ₹21.70. The operating margin was 20.0%, 3.0 pp higher than a year earlier. — as of 31 July 2026.

What is Eimco Elecon (India) Ltd's revenue?

Eimco Elecon (India) Ltd reported revenue of ₹63.0 Cr in the Dec 25 quarter, +37.0% year on year. For the full FY25 fiscal year, revenue was ₹246 Cr (+7.9%). Over the last 10 years revenue compounded at 2.3% a year. — as of 31 July 2026.

What is Eimco Elecon (India) Ltd's profit?

Eimco Elecon (India) Ltd earned ₹13.0 Cr of net profit in the Dec 25 quarter, +116.7% year on year. Full-year FY25 profit was ₹49.0 Cr. The operating margin ran 20.0% in the latest quarter. — as of 31 July 2026.

What is Eimco Elecon (India) Ltd's market cap?

Eimco Elecon (India) Ltd's market capitalisation is ₹1,028 Cr at a share price of ₹1,780. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Eimco Elecon (India) Ltd's P/E ratio?

Eimco Elecon (India) Ltd trades at a P/E of 26.8×, at the 75th percentile of its own 11-year range, against a long-run median of 16.9×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Eimco Elecon (India) Ltd pay a dividend?

Yes — Eimco Elecon (India) Ltd's dividend payout was 6% of profit in FY25, and it recorded a payout in each of its last 12 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Eimco Elecon (India) Ltd overvalued?

On its own history, Eimco Elecon (India) Ltd looks expensive against its own history: its P/E of 26.8× sits at the 75th percentile of its 11-year range (long-run median 16.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.

Is Eimco Elecon (India) Ltd growing?

Yes — Eimco Elecon (India) Ltd is growing: latest-quarter revenue +37.0% year on year, profit +116.7%, and the margin +3.0 pp at 20.0%. The 10-year compound rates are 2.3% (revenue) and 8.3% (profit). The earnings engine currently reads: improving — as of 31 July 2026.

How is Eimco Elecon (India) Ltd performing?

Eimco Elecon (India) Ltd is in a downtrend, 43 weeks in. Its latest quarter's revenue rose 37.0% and profit rose 116.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 8 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Eimco Elecon (India) Ltd in?

Mixed — revenue, profit and EPS growth are shrinking while ROCE is still lifting at 16.0% — falling growth against firm returns, so no single stage word fits yet. The read comes from the last 12 quarters of growth (revenue growth −14.6% latest, profit growth −4.1% latest, eps growth −3.4% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Eimco Elecon (India) Ltd in an uptrend?

No — the price is in a downtrend (week 43 of stage 4), trading +2.9% versus its 200-day average and at 37% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Eimco Elecon (India) Ltd beating the market?

On recent form, yes — Eimco Elecon (India) Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 8 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +463% against the NIFTY 500's +276% — ahead of the index over the full window. — as of 31 July 2026.

Will Eimco Elecon (India) Ltd's share price go up?

This page publishes no price forecast for Eimco Elecon (India) Ltd. What it measures instead: the share price is ₹1,780, the price is in a downtrend 43 weeks in. Its P/E of 26.8× sits at the 75th percentile of its own 11-year range. — as of 31 July 2026.

Who owns Eimco Elecon (India) Ltd?

Promoters hold 49.0% of Eimco Elecon (India) Ltd, foreign institutions 3.3%, domestic institutions 1.0% and the public 46.8% (latest quarter). The biggest move on the register over the last two years: Promoters cut 25.1 points over 8 quarters. — as of 31 July 2026.

Does Eimco Elecon (India) Ltd have too much debt?

No — Eimco Elecon (India) Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill 56×. FY25 borrowings were ₹0.0 Cr against equity of ₹432 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.

What is Eimco Elecon (India) Ltd's capex?

Eimco Elecon (India) Ltd spent ₹13.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹6.0 Cr, with ₹1.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Eimco Elecon (India) Ltd's cash flow?

Eimco Elecon (India) Ltd generated ₹33.0 Cr of operating cash flow in FY25 and ₹27.0 Cr of free cash flow after ₹6.0 Cr of capital spending. Reported profit that year was ₹49.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Eimco Elecon (India) Ltd's profit real cash?

Not fully — over the last 3 fiscal years, 48% of Eimco Elecon (India) Ltd's reported profit arrived as operating cash. In FY25, operating cash was ₹33.0 Cr against reported profit of ₹49.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 31 July 2026.

How financially safe is Eimco Elecon (India) Ltd?

On the balance sheet, the Z-score reads 13.97 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 31 July 2026.

Where is Eimco Elecon (India) Ltd in its business cycle?

Eimco Elecon (India) Ltd's FY25 operating margin was 23.0%, against a 12-year band of 5.0%–23.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 20.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Eimco Elecon (India) Ltd story?

The sharpest disagreement: profits are rising, but only 48% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Eimco Elecon (India) Ltd a stock worth studying right now?

This is not investment advice. The machine read: Eimco Elecon (India) Ltd's earnings have outrun its stock. EPS grew +26.9% in a year against a −25.6% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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