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Revenue
₹745.61 Cr
verified against source
Revenue YoY
-6.5%
reported change
EBITDA
₹158 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Elecon Engineering's Q4 FY26 consolidated revenue declined 6.5% YoY to ₹746 crore, dragged by a 21% drop in the Gear division (₹472 crore) due to customer-led deferrals and delayed order inflows amid geopolitical uncertainty. The MHE division outperformed with 37% YoY growth to ₹274 crore, driven by power, cement, and port demand. Consolidated EBITDA margin contracted to 21.2% (from ~24% in Q4 FY25) on operating deleverage and unfavorable mix. Net profit stood at ₹108 crore (excluding ₹10 crore goodwill impairment). Management withdrew FY27 guidance citing limited visibility, though order books remain strong at ₹1,292 crore (Gear ₹894 crore, MHE ₹398 crore). Key risk: sustained execution delays if geopolitical tensions persist, further pressuring margins.
Colored figures show movement against the previous available record.
Guidance to track
No guidance to track were recorded for this quarter.
Risks flagged
- Customers deferred deliveries and order bookings due to geopolitical tensions, impacting Q4 revenue by ~₹70 crore. Further delays could persist.
- Gear division margins fell to 19.3% due to lower engineered product mix and inventory buildup. Recovery depends on normalization of execution.
- Expected Navy orders (P7 Alpha, aircraft carrier) have been deferred to FY28, pushing back potential high-margin revenue.
- Management noted potential increase in input costs due to geopolitical situation, though they are passing it on in new orders.
Key quotes
- We are holding our guidance for FY27 at this stage and will revisit our outlook once there is a greater clarity and stability in the operating environment.
- The largest impact is in the month of March about 77 crores of the orders were in a different buckets... we had almost 70 crores impact for this event in the month of March.
- We have a strong order book right but we have shown learning in last two quarters where despite having order books there were delay in the schedules.
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