ELIN

Elin Electronics Limited

Electronics Manufacturing Services for lighting, fans and home appliances

Consumer Discretionary›Consumer Durables›Consumer Durables›Household Appliances

elinindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹77.79
Market cap
379 Cr
Stock P/E
Loss (TTM EPS ₹-1.69)
P/B
0.68
Dividend yield
1.3%
ROE (FY26)
4.1%
ROCE (FY26)
6.6%
Operating margin (FY26)
2.4%
Debt / equity (FY26)
0.03
OCF / EBITDA (FY26)
96.8%
OCF / EBITDA (3Y)
76.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Elin Electronics (Elin) is an Indian contract manufacturer that makes LED lighting, fans, small home appliances, fractional-horsepower motors and medical diagnostic cartridges for other companies' brands.

Company snapshot

21stBy market cap

Ranked among 21 companies in Household Appliances.

What we see

Positives
  • ✓Debt-to-equity of 0.03x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is very thin at 1.8% — little room for error if costs rise.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales273 Cr237 Cr278 Cr286 Cr305 Cr266 Cr316 Cr295 Cr375 Cr294 Cr324 Cr363 Cr
Operating expenses (approx.)263 Cr228 Cr265 Cr280 Cr293 Cr259 Cr296 Cr278 Cr354 Cr282 Cr318 Cr359 Cr
EBITDA10 Cr8 Cr12 Cr6 Cr11 Cr8 Cr20 Cr18 Cr20 Cr12 Cr6 Cr4 Cr
OPM %3.6%3.6%4.5%2.0%3.7%2.8%6.4%5.9%5.4%4.0%1.8%1.1%
Other income2 Cr2 Cr2 Cr10 Cr3 Cr2 Cr11 Cr3 Cr2 Cr2 Cr1 Cr2 Cr
Interest1 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr3 Cr
Depreciation5 Cr5 Cr7 Cr6 Cr5 Cr6 Cr7 Cr6 Cr6 Cr6 Cr6 Cr7 Cr
Profit before tax6 Cr4 Cr5 Cr8 Cr6 Cr2 Cr22 Cr13 Cr14 Cr5 Cr-2 Cr-28 Cr
Tax %33.2%30.0%30.7%26.6%25.7%29.8%21.8%25.9%25.7%24.1%55.4%24.6%
Net profit4 Cr3 Cr4 Cr6 Cr5 Cr1 Cr17 Cr9 Cr10 Cr4 Cr-0.76 Cr-21 Cr
EPS (₹)₹0.82₹0.55₹0.74₹1.24₹1.00₹0.29₹3.59₹1.93₹2.11₹0.75₹-0.16₹-4.39

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales786 Cr862 Cr1,094 Cr1,075 Cr1,042 Cr1,180 Cr1,288 CrSign in free for the trailing twelve months
Operating expenses (approx.)730 Cr796 Cr1,015 Cr1,010 Cr1,001 Cr1,128 Cr1,232 CrSign in free for the trailing twelve months
EBITDA55 Cr66 Cr79 Cr65 Cr41 Cr52 Cr56 CrSign in free for the trailing twelve months
OPM %7.1%7.7%7.2%6.1%3.9%4.4%4.3%Sign in free for the trailing twelve months
Other income0.79 Cr3 Cr0.91 Cr2 Cr9 Cr18 Cr8 CrSign in free for the trailing twelve months
Interest12 Cr10 Cr13 Cr13 Cr8 Cr8 Cr8 CrSign in free for the trailing twelve months
Depreciation9 Cr12 Cr14 Cr19 Cr22 Cr25 Cr24 CrSign in free for the trailing twelve months
Profit before tax35 Cr47 Cr53 Cr36 Cr20 Cr39 Cr30 CrSign in free for the trailing twelve months
Tax %21.7%26.6%26.0%24.9%29.5%23.9%23.8%Sign in free for the trailing twelve months
Net profit27 Cr35 Cr39 Cr27 Cr14 Cr29 Cr23 CrSign in free for the trailing twelve months
EPS (₹)₹6.73₹8.53₹9.59₹6.29₹2.90₹6.11₹4.64Sign in free for the trailing twelve months
Dividend payout %———15.2%34.5%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital7 Cr7 Cr20 Cr24 Cr24 Cr24 Cr24 Cr
Reserves221 Cr255 Cr283 Cr469 Cr479 Cr510 Cr532 Cr
Borrowings70 Cr114 Cr102 Cr78 Cr11 Cr24 Cr16 Cr
Other liabilities90 Cr132 Cr127 Cr163 Cr155 Cr170 Cr193 Cr
Total liabilities388 Cr508 Cr533 Cr734 Cr669 Cr728 Cr766 Cr
Fixed assets (net)154 Cr161 Cr188 Cr231 Cr223 Cr246 Cr253 Cr
CWIP0.03 Cr0.06 Cr0.02 Cr0.09 Cr12 Cr3 Cr28 Cr
Investments25 Cr14 Cr1 Cr27 Cr63 Cr69 Cr82 Cr
Loans & advances———0.16 Cr0 Cr0 Cr0 Cr
Inventories80 Cr115 Cr120 Cr123 Cr111 Cr128 Cr160 Cr
Trade receivables91 Cr183 Cr177 Cr197 Cr199 Cr227 Cr207 Cr
Cash & bank9 Cr5 Cr4 Cr0.39 Cr0.22 Cr0.07 Cr4 Cr
Other assets28 Cr32 Cr43 Cr155 Cr61 Cr55 Cr32 Cr
Total assets388 Cr508 Cr533 Cr734 Cr669 Cr728 Cr766 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity77 Cr-34 Cr51 Cr62 Cr43 Cr17 Cr54 Cr
Cash from investing-42 Cr-5 Cr-28 Cr-197 Cr36 Cr-21 Cr-34 Cr
Cash from financing-28 Cr34 Cr-24 Cr131 Cr-79 Cr4 Cr-15 Cr
Net cash flow6 Cr-4 Cr-0.66 Cr-4 Cr-0.17 Cr-0.15 Cr4 Cr
Free cash flow (OCF − Capex)44 Cr-54 Cr9 Cr10 Cr10 Cr-24 Cr-6 Cr

Ratios

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %15.7%15.2%16.2%8.5%5.4%8.3%6.6%
ROE %12.1%13.3%12.9%5.4%2.8%5.5%4.1%
Debtor days42775967707058
Inventory days54685558545561
Days payable46624659535352
Cash conversion cycle50836865717167
OCF / EBITDA %138.5%-50.6%64.9%95.7%105.2%32.0%96.8%
OCF / EBITDA % (3 years)——47.0%38.0%84.6%77.0%76.2%
Debt / equity0.310.430.340.160.020.040.03
Current ratio1.901.631.742.432.742.612.44
Net debt / EBITDA1.101.641.241.190.280.450.21