Buy Elecon Engineering Company, target price Rs 262: Axis Securities

Axis Securities has buy call on Elecon Engineering Company with a target price of Rs 262. The current market price of Elecon Engineering Company is Rs 250.5.

Time period given by analyst is 4 weeks when Elecon Engineering Company Ltd. price can reach defined target. .

Elecon Engineering Company Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 2811.73 Crore) operating in Engineering sector.


Elecon Engineering Company Ltd. key Products/Revenue Segments include Transmission Line Equipment, Material Handling Equipments, Exports, Erection & Other Charges, Scrap, Export Incentives, Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 333.60 Crore, up 22.56 % from last quarter Total Income of Rs 272.19 Crore and down -4.99 % from last year same quarter Total Income of Rs 351.12 Crore. Company reported net profit after tax of Rs 45.68 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 59.26 per cent stake in the company as of 31-Mar-2022, while FIIs owned 1.71 per cent, DIIs 1.84 per cent.