Buy Elecon Engineering Company, target price Rs 470: Prabhudas Lilladher

Prabhudas Lilladher has buy call on Elecon Engineering Company with a target price of Rs 470. The current market price of Elecon Engineering Company is Rs 416.25. Prabhudas Lilladher recommended to keep stop loss at Rs 380.

Elecon Engineering Company, incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 4646.20 Crore) operating in Engineering sector.

Elecon Engineering Company key Products/Revenue Segments include Transmission Line Equipment, Material Handling Equipments, Erection & Other Charges, Scrap, Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 392.32 Crore, down -.14 % from last quarter Total Income of Rs 392.88 Crore and up 44.14 % from last year same quarter Total Income of Rs 272.19 Crore. Company has reported net profit after tax of Rs 61.92 Crore in latest quarter.

The company’s top management includes Mr.Prayasvin B Patel, Mr.Prashant C Amin, Mr.Pradip M Patel, Mr.Pranav C Amin, Mr.Jal R Patel, Mr.Jai S Diwanji, Dr.Sonal V Ambani, Mr.Ashutosh Arvind Pednekar. Company has CNK & Associates LLP as its auditors. As on 31-12-2022, the company has a total of 11 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 59.29 per cent stake in the company as of 31-Dec-2022, while FIIs owned 1.95 per cent, DIIs 1.75 per cent.