Manufactures consumer-durable and electrical products as an EMS/OEM supplier, making ceiling fans, LED lighting, and motors for third-party brands, and running a small own-brand appliance subsidiary called Elin Appliances. FY26 consolidated revenue was ₹1,287.7 crore (Q4 FY26 alone ₹324 crore, up 3% YoY), with the fans line up 67% YoY in Q4 driven by BLDC and TPW categories, LED lighting recovering after a period of price erosion, and motors declining. The customer base includes lighting buyers such as Signify plus five new lighting customers added recently, and export fan orders that restarted in May 2026 after an August 2025 tariff halt. Manufacturing runs across multiple Indian plants — Ghaziabad, Goa, Baddi (Nalagarh), and a new Bhiwadi facility in Rajasthan whose commercial production was pushed to July–August 2026, with ₹67 crore Phase 1 capex already partly in CWIP. The biggest input costs are raw materials (polymers, aluminium, copper, steel), which made up 74.2% of revenue in FY26, and Q4 FY26 saw a 390 bps gross-margin compression from a polymer/aluminium price spike and INR depreciation that the company is countering with 10–18% price hikes (full pass-through targeted by June 2026). Employee cost is 13.2% of revenue, and a 26% UP minimum-wage hike effective April 2026 has pushed the FY27 employee-cost target to 12–12.5% of sales. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fans (OEM/EMS), LED Lighting (OEM/EMS), Motors (OEM/EMS), Elin Appliances (own brand). Cyclical EMS contract manufacturer for consumer durables, exposed to polymer/aluminium commodity moves, INR/USD, and discretionary demand.
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 1,075 | 1,042 | 1,180 | 1,288 |
| EBITDA (ex other income) | 65 | 41 | 52 | 55 |
| margin % | 6.1 | 3.9 | 4.4 | 4.2 |
| Owners' profit | 27 | 14 | 29 | 23 |
| EPS, as reported (₹) | 6.29 | 2.90 | 6.11 | 4.64 |
| ROE % · ROCE % | 5.4 · 9.0 | 2.8 · 5.4 | 5.5 · 8.4 | 4.1 · 6.6 |
| Debt / equity (x) | 0.16 | 0.02 | 0.04 | 0.03 |
| Cash from operations | 62 | 43 | 17 | 54 |
| Capex | (51) | (33) | (41) | (60) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 305 | 266 | 316 | 295 | 375 | 294 | 324 | 363 |
| Profit before tax | 6 | 2 | 22 | 13 | 14 | 5 | (2) | (28) |
| Net profit | 5 | 1 | 17 | 9 | 10 | 4 | (1) | (21) |
| EPS (₹) | 1.00 | 0.29 | 3.59 | 1.93 | 2.11 | 0.75 | (0.16) | (4.39) |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LG ELECTRONICS INDIA LTD | 1,11,217 | 60.9 | 14.51 | — | 22.0 | 27.2 | — | 13.8 |
| VOLTAS LTD | 38,538 | 85.8 | 6.02 | 45.1 | 5.8 | 9.9 | 13.8 | 7.6 |
| BLUE STAR LIMITED | 32,032 | 62.9 | 9.33 | 33.9 | 15.4 | 18.9 | 23.8 | 6.1 |
| AMBER ENTERPRISES (I) LTD | 25,552 | 265.5 | 4.40 | 27.1 | 3.9 | 5.3 | 32.1 | 6.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Newspaper ad published for 44th AGM notice dispatch | compliance | minimal | — | — |
| 3 Sept 2026 · Elin Electronics 44th AGM Notice and FY26 Annual Report | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · Annual Report and AGM Notice filed - 44th AGM on September 28, 2026 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · AGM notice and annual report weblinks sent to shareholders without registered email | compliance | minimal | — | — |
| 3 Sept 2026 · FY26 Annual Report: Revenue up 9%, PAT dips on Q4 pressures | results | high | — | — |
| 27 Aug 2026 · Notice of 44th AGM on September 28, 2026 via video conferencing | compliance | minimal | — | — |
| 25 Aug 2026 · ELIN Electronics: 44th AGM scheduled for September 28, 2026 via VC/OAVM | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Q1 FY27 margin crash; FY27 revenue guidance cut to 1375 cr | investor communications | medium | — | — |
| 7 Aug 2026 · Newspaper clippings of Q1 FY27 results filed with exchanges | compliance | minimal | — | — |
| 6 Aug 2026 · Audio Recording Link for Q1 FY27 Earnings Call | investor communications | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| CROMPT GREA CON ELEC LTD |
| 14,874 |
| — |
| 4.33 |
| 107.8 |
| (6.7) |
| (2.1) |
| 11.0 |
| 11.0 |
| V-GUARD IND LTD. | 14,215 | 39.1 | 5.99 | 26.8 | 13.0 | 15.5 | 17.0 | 11.2 |
| WHIRLPOOL OF INDIA LTD | 9,683 | 38.6 | 2.33 | 13.9 | 7.1 | 8.1 | 6.4 | 7.6 |
| EUREKA FORBES LIMITED | 7,643 | 42.5 | 1.66 | 25.3 | 3.5 | 3.9 | — | 13.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.8 | 4.9 | 1 of 23 | 100% |
| ROCE | 5.2 | 9.4 | 17 of 24 | 30% |
| ROE | 4.1 | 7.1 | 16 of 23 | 32% |
| Debt / Equity | 0.0 | 0.0 | 11 of 23 | 55% |
| EBITDA margin | (5.0) | 7.6 | 23 of 23 | 0% |
| Revenue growth | 22.8 | 15.4 | 8 of 22 | 67% |
| Profit growth | (328.0) | 38.1 | 21 of 21 | 0% |
| Market cap | 454 | 3977 | 21 of 24 | 13% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
