BSE: 531888
REXNORD ELECTRONICS & CONTROLS
Manufactures instrument cables and motors, reported as a single business segment, from a Mumbai facility. For FY26, total revenue from operations was ₹12,155.87 lakhs, with net profit of ₹498.85 lakhs and an EBITDA margin of about 14.8%. The cost stack is dominated by materials at 56.0% of revenue, followed by employee costs at 10.2%, other operating expenses at 19.2%, and depreciation at 6.9%, with capex running at 6.6% of revenue. The company is a recipient of the Industrial Promotion Subsidy under the Maharashtra Electronics Policy 2016, with ₹402.76 lakhs booked in FY26 and an Eligibility Certificate recognised at up to 100% of fixed capital investment in earlier filings. Skilled, semi-skilled and unskilled personnel across production, housekeeping and security are sourced through labour-supply agreements with related parties S.K. Management Services and R.K. Management Services, carrying a 3% service charge capped at ₹10 crores. The registered office shifted within Mumbai from Charkop, Kandivli (West) to MIDC, Andheri (East) in November 2025, and the consolidated accounts include the wholly-owned subsidiary Ropex Rexnord Enterprises Pvt Ltd. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Instrument Cables / Motors. Small-scale, single-segment industrial manufacturer of cables and motors based in Mumbai
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 71 | 88 | 96 | 108 | 122 |
| EBITDA (ex other income) | 14 | 11 | 14 | 15 | 17 |
| margin % | 19.6 | 12.9 | 14.7 | 13.7 | 14.1 |
| Owners' profit | 9 | 6 | 7 | 5 | 5 |
| EPS, as reported (₹) | 8.17 | 5.69 | 6.66 | 4.06 | 3.71 |
| ROE % · ROCE % | 18.1 · 21.8 | 11.2 · 16.0 | 10.6 · 15.1 | 5.4 · 8.9 | 5.1 · 9.0 |
| Debt / equity (x) | 0.13 | 0.09 | 0.10 | 0.18 | 0.08 |
| Cash from operations | 11 | 3 | 4 | 4 | 16 |
| Capex | (7) | (5) | (6) | (28) | (8) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 26 | 27 | 24 | 32 | 32 | 27 | 30 | 34 |
| Profit before tax | 2 | 2 | 1 | 1 | 2 | 0 | (2) | 6 |
| Net profit | 2 | 1 | 1 | 1 | 2 | 0 | (2) | 5 |
| EPS (₹) | 1.63 | 1.19 | 0.61 | 0.83 | 1.16 | 0.22 | 1.25 | 3.58 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.8 | 26.7 | 36 of 130 | 73% |
| P/B | 1.2 | 3.1 | 22 of 112 | 80% |
| ROCE | 6.3 | 11.3 | 101 of 142 | 29% |
| ROE | 5.1 | 9.8 | 80 of 113 | 30% |
| Debt / Equity | 0.1 | 0.2 | 40 of 113 | 65% |
| EBITDA margin | 26.9 | 12.4 | 14 of 110 | 88% |
| Revenue growth | 7.5 | 20.6 | 74 of 114 | 35% |
| Profit growth | 341.5 | 17.1 | 8 of 109 | 94% |
| Market cap | 113 | 273 | 95 of 141 | 33% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Routine quarterly demat compliance certificate filed with BSE | compliance | minimal | — | — |
| 5 Oct 2026 · AGM scrutinizer report - all 5 resolutions passed with over 99.99% support | compliance | minimal | — | — |
| 30 Sept 2026 · Rexnord Electronics 38th AGM concludes; six resolutions tabled | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Rexnord Electronics and Controls Limited has informed about the Closure of Trading Window | compliance | minimal | — | — |
| 22 Sept 2026 · Board approves sale of wholly owned subsidiary Rexnord Enterprise Pvt Ltd | strategic transactions | high | — | — |
| 19 Sept 2026 · Board approves sale of wholly owned subsidiary Rexnord Enterprise | strategic transactions | medium | — | — |
| 8 Sept 2026 · Rexnord publishes 38th AGM and e-voting notices | compliance | minimal | — | — |
| 5 Sept 2026 · 38th AGM on Sep 30 and FY26 annual report web-link sent to shareholders | compliance | minimal | — | — |
| 5 Sept 2026 · Notice of 38th AGM on September 30, 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Rexnord Electronics files FY26 Annual Report with 38th AGM notice | compliance | low | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
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.