Elpro International
Elpro International (ELPROINTL) share price was ₹164.13 at the 28 Oct 2026 close; market capitalisation ₹2,782 Cr; P/E (TTM) 130.26; sector Realty. The share price rose 90.0% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue fell 11.3% year on year to ₹33.30 Cr and net profit fell 56.4% year on year to ₹9.16 Cr (compared with Jun 2025). Promoters held 93.02% of Elpro International in Sep 2026, up 18.02 percentage points from Jun 2026. Its Tapetide Score is 40/100 (Weak) as of 28 Oct 2026.
Key Fundamentals
MicrocapRealtyConsumer DiscretionaryPrice-based figures as of 29 Oct 2026, 10:44 IST · EPS basis: Consolidated · TTM
Peer Comparison
Consumer Discretionary › Realty › Residential Commercial Projects › Residential, Commercial Projects
| ₹673.10 | 36.48 | 1,66,613 Cr | 3.65 | 1.19% | 5.77% | 6.35% | 8,504 Cr | 4,567 Cr | |
| ₹1,011.00 | 24.48 | 1,01,033 Cr | 4.42 | 0.42% | 14.64% | 18.07% | 18,603 Cr | 4,129 Cr | |
| ₹1,929.10 | 53.90 | 69,000 Cr | 6.28 | 0.13% | 10.88% | 11.84% | 4,724 Cr | 1,629 Cr | |
| ₹1,404.00 | 53.08 | 60,475 Cr | 3.72 | 0.14% | 7.80% | 12.91% | 13,597 Cr | 1,265 Cr | |
| ₹1,604.50 | 22.17 | 58,340 Cr | 3.06 | 0.25% | 13.99% | 16.74% | 6,501 Cr | 2,632 Cr | |
| ₹1,592.00 | 29.96 | 47,955 Cr | 2.48 | 0.63% | 9.51% | 12.01% | 8,849 Cr | 1,591 Cr | |
| ₹531.25 | 24.94 | 17,333 Cr | 2.54 | 0.36% | 9.63% | 9.89% | 5,805 Cr | 784 Cr | |
| Elpro International (this company) | ₹165.00 | 130.95 | 2,796 Cr | 1.38 | 0.42% | 4.30% | 7.60% | 660 Cr | 21 Cr |
| Median 8 companies | ₹1,207.50 | 33.22 | 59,407 Cr | 3.36 | 0.39% | 9.57% | 11.93% | 7,503 Cr | 1,610 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 100/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Promoter holding has increased by 18.0% over last quarter.
Weaknesses
4- Company has low interest coverage ratio.
- Company has a low return on equity of 2.14% over last 3 years.
- Promoters have pledged 62.4% of their holding.
- Earnings include an other income of Rs.81.6 Cr.
Technical Indicators
Oscillators
Bullish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 46.61% · Jun 2026
AI Analysis — Bull vs Bear
Elpro International Ltd has a market cap of Rs.2,941 Cr trading at a P/E of 33.6x and P/B of 1.45x. The stock has delivered a 64% return over the past year despite a TTM sales decline of -19% and profit decline of -8%, while 3-year ROE remains low at 2.23%.
- Strong stock price CAGR of 64% over 1 year, 39% over 3 years, and 30% over 5 years indicating sustained market re-rating
- Compounded sales growth of 22% over 5 years and 14% over 10 years demonstrates long-term revenue expansion capability
- Compounded profit growth of 37% over 5 years and 27% over 10 years shows strong long-term earnings trajectory
- P/B ratio of 1.45x suggests the stock is not excessively priced relative to book value for a consumer discretionary company
- Dividend yield of 0.4% provides some income return to shareholders indicating commitment to capital return
- 10-year sales CAGR of 14% reflects a business that has scaled meaningfully over a full economic cycle
- 3-year compounded sales growth of 20% suggests the medium-term revenue momentum was robust before the recent TTM slowdown
- TTM sales have declined by -19% indicating a significant revenue contraction in the most recent period
- TTM compounded profit has declined by -8% showing deteriorating near-term earnings
- 3-year ROE of just 2.23% is very low, suggesting poor capital efficiency and weak shareholder value creation
- Earnings include other income of Rs.86.4 Cr which raises concerns about the quality and sustainability of core operating profits
- Low interest coverage ratio signals potential stress in servicing debt obligations from operating profits
- P/E of 33.6x appears elevated given ROE of only 2% last year and declining TTM earnings
- 3-year compounded profit growth of only 3% contrasts sharply with the 33.6x P/E multiple, indicating expensive valuation relative to recent earnings growth
- Tax rate appears low which may indicate reliance on tax benefits or adjustments that could normalize in future periods
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Promoter shares pledged for NCDs Jun 20
Promoters pledged 12.66 crore shares (74.73% stake) to CTL Trusteeship Limited as security for ₹120 crore unsecured NCDs issued by I G E (India) Private Limited. High promoter pledge raises risk of forced selling if obligations are not met.
- Voluntary delisting approved Jun 12
Shareholders approved voluntary delisting with 99.82% votes in favour on Jun 12. Delisting removes price discovery and liquidity for remaining public shareholders.
- Greaves Cotton share acquisitions Jul 3
Elpro acquired 3,47,585 shares of Greaves Cotton for ₹7.85 crore on Jul 3 and 2,31,215 shares for ₹5.00 crore on Jun 24, totalling ₹12.85 crore invested for investment purposes.
- Vedanta Aluminium investment Jun 18
Elpro invested ₹4.62 crore for 1,00,000 shares in Vedanta Aluminium Metal Limited on Jun 18, increasing total holding to 2,20,000 equity shares.
TL;DR: Elpro International is actively deploying capital into equity investments (Greaves Cotton, Vedanta Aluminium) while simultaneously moving toward voluntary delisting, approved overwhelmingly by shareholders. The 74.73% promoter pledge for ₹120 crore NCDs is a significant governance risk. With delisting underway, the stock's trajectory is toward exit from public markets, limiting future liquidity and transparency for minority investors.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 27.15 | 27.55 | 28.35 | 29.12 | 27.64 | 114 | 27.78 | 39.47 | 37.53 | 39.32 | 32.5 | 59.67 | 33.3 |
| Expenses | 17.12 | 15.57 | 16.75 | 18.63 | 16.77 | 103 | 18.9 | 26.81 | 27.25 | 29.04 | 23.73 | 39.16 | 17.78 |
| Operating Profit | 10.03 | 11.98 | 11.6 | 10.49 | 10.87 | 11.19 | 8.88 | 12.66 | 10.28 | 10.28 | 8.77 | 20.51 | 15.52 |
| OPM % | 36.94% | 43.48% | 40.92% | 36.02% | 39.33% | 9.84% | 31.97% | 32.07% | 27.39% | 26.14% | 26.98% | 34.37% | 46.61% |
| Other Income | 5.36 | 7.39 | 3.36 | 24.88 | 8.15 | 24.77 | 25.36 | 5.64 | 25.95 | 18.59 | 26.03 | 14.16 | 22.78 |
| Interest | 3.32 | 4.36 | 7.2 | 10.39 | 11.09 | 13.31 | 17.82 | 20.59 | 21.84 | 23.71 | 24.73 | 25.82 | 26.15 |
| Depreciation | 1.27 | 1.3 | 1.34 | 1.42 | 1.36 | 1.43 | 3.01 | 2.67 | 2.62 | 2.65 | 2.65 | 2.61 | 1.52 |
| PBT | 10.8 | 13.71 | 6.42 | 23.56 | 6.57 | 21.22 | 13.41 | -4.96 | 11.77 | 2.51 | 7.42 | 6.24 | 10.63 |
| Tax % | 52.04% | -5.84% | 27.26% | 5.65% | 0.61% | -6.08% | 23.64% | -69.35% | -78.76% | 46.22% | 27.22% | 11.86% | 13.83% |
| Net Profit | 5.18 | 14.51 | 4.66 | 22.23 | 6.53 | 22.52 | 10.24 | -1.52 | 21.03 | 1.35 | 5.4 | 5.49 | 9.16 |
| EPS (₹) | 0.31 | 0.86 | 0.27 | 1.31 | 0.39 | 1.33 | 0.6 | -0.09 | 1.24 | 0.08 | 0.32 | 0.32 | 0.54 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 37 | 45 | 53 | 61 | 41 | 110 | 63 | 72 | 97 | 112 | 209 | 169 | 165 |
| Expenses | 21 | 30 | 28 | 23 | 36 | 78 | 33 | 38 | 64 | 68 | 165 | 121 | 110 |
| Operating Profit | 16 | 15 | 25 | 38 | 6 | 32 | 30 | 35 | 34 | 44 | 44 | 48 | 55 |
| OPM % | 44% | 34% | 46% | 62% | 14% | 29% | 48% | 48% | 34% | 39% | 21% | 28% | 33% |
| Other Income | 0 | 0 | 1 | 0 | 108 | 4 | 3 | 1,197 | 34 | 41 | 64 | 86 | 82 |
| Interest | 18 | 19 | 30 | 33 | 25 | 27 | 25 | 23 | 5 | 25 | 63 | 96 | 100 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 2 | 4 | 5 | 5 | 5 | 8 | 11 | 9 |
| PBT | -2 | -4 | -6 | 4 | 87 | 7 | 5 | 1,204 | 58 | 54 | 36 | 28 | 27 |
| Tax % | 0% | 0% | 0% | 0% | 19% | 32% | -42% | 18% | 28% | 15% | -4% | -19% | — |
| Net Profit | -2 | -4 | -6 | 4 | 71 | 5 | 7 | 989 | 41 | 47 | 38 | 33 | 21 |
| EPS (₹) | -0.12 | -0.21 | -0.33 | 0.25 | 4.2 | 0.28 | 0.41 | 58.36 | 2.44 | 2.75 | 2.23 | 1.96 | 1.26 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 9% | 22% | 31% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 14 | 14 | 14 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 143 | 130 | 124 | 128 | 210 | 197 | 219 | 1,210 | 1,237 | 1,540 | 1,941 | 2,084 |
| Borrowings | 125 | 150 | 198 | 257 | 165 | 230 | 220 | 56 | 128 | 368 | 942 | 1,077 |
| Other Liabilities | 91 | 98 | 58 | 56 | 125 | 75 | 67 | 92 | 121 | 147 | 341 | 316 |
| Total Liabilities | 364 | 393 | 393 | 455 | 517 | 519 | 523 | 1,374 | 1,503 | 2,072 | 3,242 | 3,495 |
| Fixed Assets | 8 | 8 | 44 | 69 | 175 | 199 | 196 | 193 | 418 | 456 | 620 | 688 |
| CWIP | 26 | 29 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 31 |
| Investments | 271 | 271 | 270 | 301 | 247 | 252 | 257 | 1,071 | 842 | 1,477 | 2,341 | 2,291 |
| Other Assets | 59 | 86 | 79 | 85 | 94 | 68 | 70 | 110 | 242 | 139 | 275 | 486 |
| Total Assets | 364 | 393 | 393 | 455 | 517 | 519 | 523 | 1,374 | 1,503 | 2,072 | 3,242 | 3,495 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 9 | 27 | 34 | 58 | -76 | 25 | 16 | -162 | 30 | 11 | 56 | -35 |
| Investing | -7 | -29 | -13 | -70 | 100 | -82 | 20 | 387 | -133 | -216 | -536 | 31 |
| Financing | -3 | 7 | -25 | 14 | -24 | 57 | -33 | -185 | 60 | 205 | 481 | 39 |
| Net Cash Flow | -1 | 5 | -4 | 2 | -1 | 0 | 3 | 40 | -43 | 0 | 1 | 35 |
| Free Cash Flow | 5 | 24 | 25 | 32 | -118 | -1 | 14 | -164 | -200 | -32 | -122 | -138 |
| CFO/EBITDA | 54 | 176 | 141 | 151 | -1,346 | 78 | 64 | 68 | 104 | 32 | 157 | -22 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 57 | 37 | 28 | 14 | 26 | 12 | 70 | 62 | 68 | 22 | 11 | 10 |
| Inventory Days | 3,310 | — | 1,517 | — | 5,976 | — | — | — | — | — | 3 | 8 |
| Days Payable | 439 | — | 861 | — | 2,062 | — | — | — | — | — | 34 | 76 |
| Cash Conversion Cycle | 2,928 | 37 | 684 | 14 | 3,940 | 12 | 70 | 62 | 68 | 22 | -20 | -58 |
| Working Capital Days | -1,125 | -1,046 | -738 | -733 | -890 | -152 | -246 | -308 | 86 | -400 | -848 | -1,019 |
| ROCE % | 6% | 5% | 8% | 10% | 1% | 8% | 7% | 14% | 4% | 5% | 4% | 4% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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54 extracted metrics + investor summaries across FY15–FY27.
Documents
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Company Information
Elpro International Limited is engaged in manufacturing surge arresters, construction and development of real estate properties, equity investment in third parties and windmill operations. [1]
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