Saturday, August 25, 2018

Elecon Engineering Company Ltd & Recent Updates


BUSINESS SUMMARY : Elecon Engineering Company Limited is engaged in the manufacture of material handling equipment, industrial geared motors and reducers, mining equipment and casting processes. The Company's segments include Material Handling Equipment, Transmission Equipment and Others. It is also engaged in designing and manufacturing worm gears; parallel shaft and right angle shaft; helical and spiral level helical gears; fluid geared and flexible couplings, as well as planetary gear boxes. Its products include ET Series, EON Series, ETS Series, EOS Series, ET Series Demo, Cooling Tower Gear Boxes and Dual Tandem Gear Boxes. Its power transmission includes wind mill gear, elevator traction machines, marine gear, loose gear and special gear. Its alternate energy includes wind turbines. Its Foundry Division includes material handling, mining and earth moving, power transmission,crusher and cement. The Company offers its equipment for sectors, such as fertilizer, cement, coal and mining.

FUNDAMENTAL : The company's gross margin has been lower than its industry group
average for each of the past five years. Debt-to-capital has been higher than its industry group average for each of the past five years and  days sales in inventory has been higher than its
industry group average for each of the past five years. ELECON's Price to Sales ratio and Trailing P/E are both significantly above (more expensive than) their 5-year averages & current Price to Sales ratio of 0.6 represents a 71% Discount to its Machinery & Heavy Vehicles industry group average. It is now Trading at 1.3x of its EPV ( June 2018 earnings ).


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