6 days ago
Elecon Engineering Gains Order Visibility as Broker Recommends Buy
Elecon Engineering received many new orders during the first quarter.
Its total pending orders reached a record ₹1,518 crore.
New orders during the quarter were worth ₹755 crore, up 23% from a year earlier.
The company also earned more money from customers outside India.
Overseas revenue rose 21.9% to ₹151 crore.
The company’s European businesses, Benzlers and Radicon, showed an operating recovery.
New export orders are expected to help revenue grow from Q2-FY27.
A broker believes these orders provide good visibility for future earnings.
The broker therefore recommended buying the shares and set a target price of ₹505.
Elecon Engineering reported a record consolidated order book of ₹1,518 crore in Q1.
Quarterly order inflows rose 23% year-on-year to ₹755 crore.
Overseas revenue grew 21.9% to ₹151 crore, contributing 29% of consolidated revenue.
A ₹21-crore overseas port equipment order added to the company’s international wins.
The broker recommended a Buy, valuing the company at 22x FY28E EPS with a ₹505 target price.
- Who
- Elecon Engineering and the broker covering its shares.
- What
- Elecon reported strong orders, rising overseas revenue and a record consolidated order book; the broker issued a Buy recommendation.
- Where
- The business covered domestic and international markets, including European subsidiaries and overseas port-equipment customers.
- When
- The report was published on September 28, 2026; the operating figures relate to Q1 and the outlook to Q2-FY27 onward.
- Why
- The recommendation was based on Elecon’s record backlog, order pipeline, export growth and expected improvement in project execution.
Key facts
- Current market price
- ₹480.70 per share
- Target price
- ₹505 per share
- Consolidated order book
- ₹1,518 crore, a record level
- Q1 order inflows
- ₹755 crore, up 23% year-on-year
- Overseas revenue
- ₹151 crore, up 21.9%
- Overseas revenue contribution
- 29% of consolidated revenue, compared with 25% in Q1FY26
- Valuation basis
- 22x FY28E EPS
Sources
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