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Elantas Beck India Ltd
ELANTAS NSE
Elantas Beck India Ltd
ChemicalsNSE: ELANTAS BSE: 500123 Specialty Chemicals
Key Fundamentals
MicrocapSpecialty ChemicalsChemicalsMarket Cap
₹9,393 Cr
Volatility
Moderate
P/E Ratio
52.24
EBITDA
₹220 Cr
Return on Equity
14.66%
Debt to Equity
0
Book Value
₹1,392.52
52W High
₹13,200
52W Low
₹8,900
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Elantas Beck India Ltd insights
29 extracted metrics + investor summaries across FY14–FY25.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company is almost debt free.
- Company has delivered good profit growth of 19.1% CAGR over last 5 years
Weaknesses
1- Stock is trading at 8.41 times its book value
Growth Rate
Revenue Growth
11.53% ↘
Net Income Growth
5.87% ↘
Cash Flow Change
101.06% ↗
ROE
-8.94% ↘
ROCE
-7.61% ↘
EBITDA Margin (Avg.)
-0.81% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 18d agoAI opinion · based on fundamentals
Risk medium
Elantas Beck India is a nearly debt-free specialty chemicals company with a market cap of ₹7,419 Cr trading at a PE of 50.6x and 7.33x book value. The company has delivered 19% profit CAGR over 5 years with consistent 16-18% ROE, but the stock has corrected 24% over the past year while revenue growth moderated to 11% TTM.
Bull Case 8
- Virtually debt-free balance sheet provides financial resilience and flexibility for capacity expansion without dilution or interest burden
- Consistent 5-year profit CAGR of 19.1% demonstrates strong earnings compounding ability through business cycles
- Stable ROE of 16-18% over the past decade (3-year: 18%, 5-year: 17%, 10-year: 17%) indicates disciplined capital allocation
- Promoter ALTANA AG (Germany) holds 75% stake, unchanged for multiple quarters, signaling strong parent commitment and technology transfer pipeline
- India's electrical insulation market is projected to grow at 5.8% CAGR through 2033, providing a structural demand tailwind from electrification and infrastructure spending
- 10-year stock CAGR of 19% reflects long-term value creation despite recent correction
- Revenue grew 10% CAGR over 3 years and 17% over 5 years, showing an accelerating top-line trajectory relative to the 10-year 9% CAGR
- Q4 FY25 revenue of ₹206 Cr (up 5.7% YoY) indicates continued demand traction from power and infrastructure sectors
Bear Case 8
- PE of 50.6x is elevated for a specialty chemicals company, leaving limited margin of safety if growth disappoints
- Stock has declined 24% over the past 1 year, underperforming broader markets and signaling potential de-rating
- Price-to-book of 7.33x is expensive relative to the 16% trailing ROE, implying high expectations already priced in
- Dividend yield of just 0.08% offers negligible income return, making total return entirely dependent on capital appreciation
- TTM profit growth has decelerated to 8% from the 5-year CAGR of 19%, suggesting margin pressure or rising input costs
- Q4 FY25 net profit fell 5.8% YoY to ₹31 Cr despite revenue growth, indicating operating margin compression
- Niche product portfolio in electrical insulating varnishes limits addressable market size and diversification options
- Low FII holding of just 0.04% reflects limited institutional interest, which can constrain liquidity and price discovery
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 74d ago Positives 3
- ₹56 Cr Ankleshwar capacity expansion Jun 02
Board approved ₹56 crore investment to add 11,000 MT/year manufacturing capacity at Ankleshwar, aimed at improving flexibility and supply reliability.
- Strong Q4FY26 financial results May 12
Q4FY26 revenue came in at ₹22,216.93 lakhs with net profit of ₹3,108.43 lakhs; full-year FY26 net profit stood at ₹14,777.98 lakhs.
- ₹7.50 dividend, AGM resolutions passed May 13
70th AGM held on 12 May 2026 passed all 6 resolutions including a Rs. 7.50 per share dividend and key board appointments.
TL;DR: Elantas Beck India is in a solid growth phase — the ₹56 crore capex to add 11,000 MT capacity signals confidence in medium-term demand, while Q4FY26 profitability and a healthy dividend reinforce financial strength. No visible headwinds emerged in the recent news cycle. The trend is improving with both organic investment and steady shareholder returns pointing to continued momentum.
Quarterly Results
| 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 | 173 | 163 | 174 | 177 | 191 | 184 | 197 | 206 | 210 | 217 | 215 | 222 | 283 |
| Expenses | 138 | 126 | 138 | 139 | 153 | 150 | 162 | 166 | 170 | 169 | 170 | 179 | 202 |
| Operating Profit | 35 | 37 | 36 | 38 | 39 | 33 | 35 | 40 | 40 | 47 | 45 | 43 | 82 |
| OPM % | 20% | 23% | 20% | 21% | 20% | 18% | 18% | 20% | 19% | 22% | 21% | 20% | 29% |
| Other Income | 15 | 12 | 17 | 15 | 17 | 12 | 10 | 9 | 18 | 7 | 14 | 3 | 19 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 6 | 6 | 6 | 6 |
| PBT | 47 | 47 | 49 | 49 | 52 | 42 | 40 | 44 | 53 | 49 | 53 | 40 | 95 |
| Tax % | 25% | 25% | 25% | 25% | 20% | 25% | 26% | 26% | 26% | 25% | 25% | 23% | 25% |
| Net Profit | 35 | 35 | 37 | 37 | 42 | 31 | 30 | 33 | 39 | 36 | 39 | 31 | 71 |
| EPS in Rs | 44.68 | 43.93 | 46.67 | 46.56 | 52.79 | 39.19 | 37.51 | 41.46 | 49.56 | 45.74 | 49.66 | 39.2 | 89.38 |
Profit & Loss
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 341 | 344 | 365 | 383 | 409 | 394 | 383 | 522 | 645 | 680 | 749 | 848 | 937 |
| Expenses | 299 | 282 | 287 | 304 | 344 | 340 | 313 | 444 | 535 | 537 | 604 | 676 | 720 |
| Operating Profit | 42 | 62 | 79 | 78 | 65 | 54 | 70 | 78 | 110 | 143 | 144 | 172 | 217 |
| OPM % | 12% | 18% | 22% | 20% | 16% | 14% | 18% | 15% | 17% | 21% | 19% | 20% | 23% |
| Other Income | 8 | 6 | 8 | 9 | 31 | 18 | 22 | 25 | 32 | 53 | 55 | 48 | 43 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 5 | 6 | 5 | 6 | 7 | 7 | 12 | 12 | 12 | 12 | 15 | 21 | 23 |
| PBT | 45 | 62 | 81 | 81 | 89 | 64 | 80 | 91 | 129 | 184 | 183 | 199 | 237 |
| Tax % | 30% | 32% | 33% | 32% | 26% | 22% | 23% | 27% | 24% | 25% | 24% | 26% | — |
| Net Profit | 32 | 42 | 54 | 55 | 66 | 50 | 62 | 67 | 98 | 137 | 140 | 148 | 178 |
| EPS in Rs | 39.87 | 52.68 | 68.73 | 69.48 | 82.99 | 62.51 | 77.9 | 84.36 | 123 | 173 | 176 | 186 | 224 |
| Div. Payout % | 11% | 9% | 7% | 6% | 5% | 8% | 6% | 6% | 4% | 3% | 4% | 4% | — |
Balance Sheet
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Reserves | 128 | 164 | 214 | 270 | 331 | 376 | 434 | 497 | 591 | 724 | 859 | 1,000 | 1,096 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 57 | 64 | 70 | 70 | 76 | 72 | 95 | 114 | 119 | 149 | 148 | 158 | 212 |
| Total Liabilities | 192 | 236 | 291 | 348 | 415 | 456 | 536 | 618 | 717 | 881 | 1,015 | 1,166 | 1,316 |
| Fixed Assets | 45 | 45 | 36 | 40 | 70 | 110 | 103 | 98 | 98 | 99 | 223 | 240 | 273 |
| CWIP | 1 | 0 | 5 | 15 | 0 | 10 | 18 | 19 | 13 | 17 | 19 | 8 | 14 |
| Investments | 30 | 64 | 109 | 139 | 174 | 160 | 218 | 261 | 356 | 517 | 379 | 592 | 642 |
| Other Assets | 116 | 126 | 140 | 154 | 171 | 176 | 198 | 240 | 250 | 247 | 395 | 326 | 387 |
| Total Assets | 192 | 236 | 291 | 348 | 415 | 456 | 536 | 618 | 717 | 881 | 1,015 | 1,166 | 1,316 |
Cash Flow
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 31 | 46 | 56 | 51 | 33 | 48 | 79 | 29 | 83 | 133 | 63 | 127 |
| Investing | 19 | -42 | -51 | -45 | -32 | -40 | -69 | -33 | -76 | -132 | 78 | -194 |
| Financing | -51 | -4 | -5 | -5 | -4 | -5 | -4 | -4 | -5 | -5 | -5 | -6 |
| Net Cash Flow | -2 | 0 | 0 | 2 | -3 | 4 | 6 | -8 | 2 | -3 | 136 | -74 |
| Free Cash Flow | 27 | 40 | 51 | 31 | 10 | 36 | 63 | 37 | 86 | 121 | -82 | 96 |
| CFO/OP | 107 | 107 | 104 | 96 | 80 | 118 | 136 | 60 | 103 | 120 | 71 | 97 |
Ratios
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 53 | 59 | 53 | 70 | 75 | 57 | 67 | 61 | 58 | 55 | 62 | 60 |
| Inventory Days | 84 | 85 | 100 | 75 | 74 | 77 | 89 | 95 | 73 | 68 | 78 | 71 |
| Days Payable | 55 | 64 | 73 | 73 | 71 | 56 | 103 | 86 | 67 | 81 | 76 | 61 |
| Cash Conversion Cycle | 82 | 80 | 80 | 71 | 78 | 77 | 54 | 70 | 64 | 41 | 64 | 70 |
| Working Capital Days | 58 | 55 | 55 | 62 | 69 | 59 | 46 | 57 | 48 | 33 | 56 | 56 |
| ROCE % | 35% | 40% | 41% | 33% | 23% | 18% | 19% | 17% | 22% | 28% | 23% | 21% |
Documents
1
Board Meeting Intimation for Board Meeting Scheduled On Tuesday, 12Th May, 2026
30 Apr - Board meeting on 12 May 2026 to approve Q4 FY2026 unaudited financial results; trading window closed from 1 April. 30 Apr - Board meeting on 12 May 2026 to approve Q4 FY2026 unaudited financial results; trading window closed from 1 April.
2
Board Meeting Intimation for Board Meeting Scheduled On Tuesday, 12Th May, 2026
30 Apr - Board meeting on 12 May 2026 to approve Q4 FY2026 unaudited financial results; trading window closed from 1 April. 30 Apr - Board meeting on 12 May 2026 to approve Q4 FY2026 unaudited financial results; trading window closed from 1 April.
3
Announcement under Regulation 30 (LODR)-Newspaper Publication
19 Apr - Newspaper Publication of Notice of 70th Annual General Meeting, remote e-voting and other related information. 19 Apr - Newspaper Publication of Notice of 70th Annual General Meeting, remote e-voting and other related information.
5
Business Responsibility and Sustainability Reporting (BRSR)
18 Apr - ELANTAS Beck India submitted its FY2025 Business Responsibility and Sustainability Report. 18 Apr - ELANTAS Beck India submitted its FY2025 Business Responsibility and Sustainability Report.
Frequently Asked Questions about Elantas Beck India Ltd
What does Elantas Beck India Ltd do?
ELANTAS Beck India Limited is engaged in manufacturing a wide range of specialty chemicals in the electrical insulation and construction industries. It is a part of ALTANA, an international specialty chemicals group. [1]
Where is Elantas Beck India Ltd (ELANTAS) listed?
Elantas Beck India Ltd is listed on the Indian stock exchanges. It is listed on NSE: ELANTAS and BSE: 500123. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Elantas Beck India Ltd belong to?
Elantas Beck India Ltd operates in the Chemicals sector within the Specialty Chemicals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Elantas Beck India Ltd?
Elantas Beck India Ltd has a market capitalisation of approximately ₹9392.72 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Elantas Beck India Ltd?
The Price-to-Earnings (PE) ratio of Elantas Beck India Ltd is 52.24. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Elantas Beck India Ltd?
Over the past 52 weeks, Elantas Beck India Ltd has traded between a low of ₹8,900 and a high of ₹13,200. This range helps investors understand the stock's price volatility and recent trading levels.
Does Elantas Beck India Ltd pay dividends?
Yes, Elantas Beck India Ltd has a dividend yield of 0.06%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Elantas Beck India Ltd?
Elantas Beck India Ltd has a Return on Equity (ROE) of 14.66%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Elantas Beck India Ltd on Tapetide?
On Tapetide, you can view Elantas Beck India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
ELANTAS Beck India Limited is engaged in manufacturing a wide range of specialty chemicals in the electrical insulation and construction industries. It is a part of ALTANA, an international specialty chemicals group. [1]
Website elantas.com/beck-india.html
Face Value ₹ 10