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Elecon Engineering Q3 Revenue Up 4.3% to ₹552 Cr; Management Lowers FY26 Guidance
Elecon Engineering reported a consolidated revenue of ₹552 crores for Q3 FY26, a 4.3% year-on-year increase, supported by 16% growth in the Material Handling Equipment (MHE) division. However, EBITDA margins contracted significantly to 19.8% from the previous year due to higher employee costs and a change in product mix. Most notably, management has revised its FY26 guidance downward, expecting revenue to be up to 5% lower and EBITDA margins to be 2% lower than earlier projections. Despite near-term execution delays, the company maintains a healthy total order book of ₹1,372 crores and a strong net cash position of ₹600 crores.
Key Highlights
Consolidated revenue grew 4.3% YoY to ₹552 crores, while the MHE division outperformed with 16% growth.
EBITDA margins fell to 19.8% in Q3 FY26 compared to the previous year, impacted by flat gear revenue and higher costs.
Total order intake for the quarter was ₹701 crores, resulting in a robust open order book of ₹1,372 crores as of December 2025.
Management lowered FY26 guidance by 5% for revenue and 2% for EBITDA margins due to execution and dispatch deferments.
The company plans a capex outlay of ₹400 crores between FY26 and FY28 to support long-term growth in power and steel sectors.
💼 Action for Investors
Investors should exercise caution following the downward revision of FY26 guidance and the contraction in margins. While the long-term outlook remains supported by a strong order book and cash reserves, monitor Q4 execution closely for signs of margin recovery.
Elecon Q3 FY26: Revenue up 4% to ₹552 Cr, PAT drops 33% YoY; FY26 Guidance Lowered
Elecon Engineering reported a modest 4% YoY revenue growth to ₹552 crores for Q3 FY26, but faced significant margin pressure with EBITDA declining 23% to ₹109 crores. The company's PAT fell by 33% YoY to ₹72 crores, primarily due to higher employee costs and an unfavorable product mix. Despite the quarterly dip, the order book remains strong at ₹1,372 crores, representing a 24% YoY increase. Management has revised its FY26 guidance downwards, expecting revenue to be lower by up to 5% and EBITDA margins by up to 2%.
Key Highlights
Q3 FY26 Revenue grew 4% YoY to ₹552 crores, while PAT dropped 33% YoY to ₹72 crores
EBITDA margins contracted significantly to 19.8% in Q3 FY26 from 27.0% in the previous year
Open order book stands healthy at ₹1,372 crores as of December 2025, up 24% YoY
Management lowered FY26 revenue guidance by ~5% and adjusted EBITDA margin guidance by ~2%
Gear division EBIT margins fell to 18.2% from 27.8% YoY due to execution delays and cost increases
💼 Action for Investors
Investors should exercise caution due to the significant margin contraction and downward revision of FY26 guidance. While the strong order book offers long-term potential, the stock may face near-term pressure until execution and margins stabilize.
Elecon Q3 FY26: Revenue up 4.3% to ₹552 Cr; PAT drops 33% on margin contraction
Elecon Engineering reported a modest 4.3% YoY revenue growth to ₹552 crore for Q3 FY26, but faced significant margin pressure with EBITDA margins dropping from 27% to 19.8%. Net profit for the quarter fell 33.1% YoY to ₹72 crore, primarily due to higher employee costs and an unfavorable product mix. Despite the quarterly dip, the company maintains a strong order book of ₹1,372 crore and saw a robust order intake of ₹701 crore during the quarter. However, management has lowered its full-year FY26 revenue guidance by up to 5% and EBITDA margin guidance by 2%.
Key Highlights
Consolidated Revenue grew 4.3% YoY to ₹552 Cr, while 9M adjusted revenue rose 11.6% to ₹1,595 Cr.
EBITDA margins contracted sharply by 717 bps YoY to 19.8% in Q3 FY26 from 27.0% in Q3 FY25.
Quarterly PAT declined 33.1% YoY to ₹72 Cr, impacted by execution delays and product mix changes.
Order book remains healthy at ₹1,372 Cr as of Dec 2025, with a strong Q3 order intake of ₹701 Cr.
Management lowered FY26 revenue guidance by ~5% and EBITDA margin guidance by ~2% due to near-term softness.
💼 Action for Investors
Investors should exercise caution as the sharp margin contraction and lowered full-year guidance suggest near-term headwinds. While the order book is strong, the stock may face pressure until execution improves and margins stabilize.
Elecon Engineering Q3 Cons. PAT Falls 23% to ₹78.6 Cr; CFO Resigns Effective Jan 2026
Elecon Engineering reported a modest 4.3% YoY increase in consolidated revenue to ₹551.7 crore for Q3 FY26, but net profit dropped significantly by 23.3% to ₹78.6 crore. The 9-month performance remains inflated by a one-time exceptional gain of ₹149.4 crore related to the reclassification of Eimco Elecon. The company also announced the resignation of CFO Narasimhan Raghunathan, effective January 31, 2026, citing personal commitments. Operating margins were impacted by higher manufacturing and employee expenses during the quarter.
Key Highlights
Consolidated Q3 Revenue rose 4.3% YoY to ₹551.7 crore compared to ₹528.9 crore in the previous year.
Consolidated Net Profit fell 23.3% YoY to ₹78.6 crore from ₹102.5 crore in Q3 FY25.
9M FY26 Net Profit stands at ₹427.6 crore, heavily aided by a ₹149.4 crore exceptional gain from reclassifying an associate company.
CFO Narasimhan Raghunathan has resigned effective January 31, 2026, due to personal commitments.
Transmission Equipment segment revenue contributed ₹331.9 crore while Material Handling contributed ₹135.4 crore on a standalone basis.
💼 Action for Investors
The decline in quarterly profitability and the exit of the CFO are near-term headwinds. Investors should monitor margin recovery in the core transmission segment and wait for the appointment of a successor before increasing positions.
Elecon Engineering Q3 FY26: Consolidated Revenue Up 4.3% YoY to ₹551.7 Cr; CFO Resigns
Elecon Engineering reported a modest 4.3% YoY growth in consolidated revenue to ₹551.7 crore for Q3 FY26, though consolidated net profit saw a slight decline of 2.1% YoY to ₹88.4 crore. On a sequential basis, the performance was weaker with revenue and profit declining by 4.6% and 13.7% respectively compared to Q2 FY26. The company also announced the resignation of its CFO, Narasimhan Raghunathan, effective January 31, 2026, due to personal commitments. Despite the quarterly dip, the 9-month performance remains strong, supported by a significant one-time exceptional gain of ₹149.4 crore recorded earlier in the year.
Key Highlights
Consolidated Revenue for Q3 FY26 stood at ₹551.7 crore, up 4.3% from ₹528.9 crore in Q3 FY25.
Consolidated Net Profit for the quarter decreased to ₹88.4 crore compared to ₹90.4 crore in the same period last year.
Transmission Equipment segment contributed ₹331.9 crore to standalone revenue, while Material Handling Equipment contributed ₹135.4 crore.
CFO Narasimhan Raghunathan has resigned effective Jan 31, 2026, citing personal and family commitments.
9-month consolidated profit stands at ₹394.3 crore, significantly boosted by a one-time exceptional gain of ₹149.4 crore from reclassifying Eimco Elecon.
💼 Action for Investors
The results indicate a slowdown in growth momentum and a slight margin contraction on a sequential basis. Investors should monitor the transition of the CFO role and the company's guidance on order book execution for the Material Handling segment.