Elecon Engineering Company announced that the Board of Directors of the Company at its meeting held on 18 October 2024, has recommended a Interim dividend of Rs.0.50 per share (i.e.50%), subject to the approval of the shareholders.Powered by Capital Market - Live

Revenue from operations jumped 4.79% YoY to Rs 508.14 crore during the quarter. Profit before tax declined 5.66% to Rs 110.54 crore in Q2 FY25 from Rs 117.17 core in Q2 FY24. EBITDA dropped 5.4% to Rs 112 crore in the quarter ended 30 September 2024 as compared with Rs 119 crore posted in same quarter last year. EBITDA margin contracted to 22.1% in Q2 FY25 from 24.5% in Q2 FY24. In Q2 FY25, revenue from Gear division fell 5.9% YoY to Rs 398 crore, impacted on account of delay in receipt of order from customers resulted in delay in execution within Q2FY25. MHE division revenue jumped 77.8% YoY to Rs 110 crore in Q2 FY25, the company continues to focus on the business of supplying products & aftermarket business for its MHE segment which has led to sharp turnaround in the profitability for this segment. The company is consistently securing new orders for product supply and capitalizing on growing opportunities in the aftermarket business. Prayasvin B. Patel, chairman & managing director of Elecon Engineering, said, 'In Q2FY25, our Material Handling Equipment (MHE) division saw a remarkable 77.8% year-on-year revenue growth, with EBIT margins improving by around 549 basis points to 26.5%. We expect continued growth in this segment, driven by infrastructure development, government initiatives, and an uptick in capital expenditure. Our Gear division, however, experienced a 5.9% decline in revenue due to delay in order inflows. We see this as a temporary decline and expect to recover in the following quarters, remaining optimistic about overall revenue growth for FY25. Margins in the Gear division were affected by higher freight costs and changes in the product mix. Internationally, we are progressing toward our target of generating 50% of our revenue from overseas markets by FY30. In Q2FY25, international business contributed approximately 24% of our total consolidated revenue. With strong support from OEMs and ongoing brand-building efforts, we are confident in reaching this goal. Through strategic alliances in global markets, continued investment in R&D and product development, and a focus on the MHE segment.' Meanwhile the company's board has declared an interim dividend of Re 0.50 per share for FY25. The record date for the dividend shall be Monday, 28 October 2024. The said dividend will be paid on or after Tuesday, 12 November 2024. Elecon Engineering Company (ELECON) is one of the largest manufacturers of industrial gears and material handling equipment with seven decades of experience and expertise in Asia.Powered by Capital Market - Live

Elecon Engineering Company has fixed 28 October 2024 as record date for determining the entitlement of the shareholders for the interim dividend of Rs 0.50 per share for FY 2024-25. The dividend will be paid on or after 12 November 2024. Powered by Capital Market - Live

Net profit of Elecon Engineering Company declined 0.96% to Rs 87.72 crore in the quarter ended September 2024 as against Rs 88.57 crore during the previous quarter ended September 2023. Sales rose 4.79% to Rs 508.14 crore in the quarter ended September 2024 as against Rs 484.90 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales508.14484.90 5 OPM %22.1024.49 - PBDT123.67130.45 -5 PBT110.54117.17 -6 NP87.7288.57 -1 Powered by Capital Market - Live

Elecon Engineering Company has fixed 28 October 2024 as record date for payment of interim dividend, if declared. Powered by Capital Market - Live

Elecon Engineering Company will hold a meeting of the Board of Directors of the Company on 18 October 2024Powered by Capital Market - Live

Elecon Engineering Company has received upgrade in long term rating at ICRA AA; Stable (revised from ICRA AA-; Stable). The short term rating of the company is reaffirmed at ICRA A1+. Powered by Capital Market - Live

Net profit of Elecon Engineering Company rose 0.55% to Rs 73.36 crore in the quarter ended June 2024 as against Rs 72.96 crore during the previous quarter ended June 2023. Sales declined 5.30% to Rs 392.36 crore in the quarter ended June 2024 as against Rs 414.34 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales392.36414.34 -5 OPM %23.5424.13 - PBDT106.98106.89 0 PBT94.1594.47 0 NP73.3672.96 1 Powered by Capital Market - Live