Elecon Engineering Co.Ltd. — Investor Presentation 2025

Oct 10, 2025

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10[th] October, 2025

To,

The Manager (Listing), The BSE Ltd. Mumbai	The Manager (Listing), National Stock Exchange of India Ltd. Mumbai
Company’s Scrip Code: 505700	Company’s Scrip Code: ELECON

• Sub. : Investor Presentation of the Earnings Conference Call to be held on 13[th] October, 2025

• Ref. : Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir,

With reference to the above referred Regulation and in continuation of our letter dated 4[th] October, 2025 regarding schedule of Earnings Conference Call, please find attached herewith the Investor Presentation for Q2 for the Financial Year 2025-26. The same is also available on the website of the Company at https://www.elecon.com/investors/presentations-made-to-analysts-or-institutionalinvestors

You are requested to take the same on your records.

Thanking you.

Yours faithfully,

For Elecon Engineering Company Limited, Digitally signed by Isarani Bhartiben Lalitkumar Isarani DN: c=IN, o=Personal, title=0260, pseudonym=13344004923474687732l94 66G99GIEd, 2.5.4.20=c52a2198888be34c1add3d3f70 Bhartiben 36982173c1697fa1745ed6de6567e01030 54b2, postalCode=388001, st=Gujarat, serialNumber=f4c51b6318e6acab9d278c cf2d6ca7b880331cffa3da32bef38e61c2c Lalitkumar 76bc835, cn=Isarani Bhartiben Lalitkumar Date: 2025.10.10 15:26:09 +05'30' Bharti Isarani Company Secretary & Compliance Officer

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Encl.: As above

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ONE OF ASIA’S LARGEST INDUSTRIAL GEAR SOLUTION COMPANY

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Unifying vision Global impact

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Elecon Engineering Company Limited Investor Presentation – Q2 & H1FY26

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Safe Harbor

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This presentation and the accompanying slides (the “Presentation”), which have been prepared by Elecon Engineering Company Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness.

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Values at Elecon

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Our Values are our Bedrock!

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Delightful Customer Resolute Trust Ingenious Value Creation Ethics at
Experience Entrepreneurship the Core
Ensure unparalleled positive Foster unwavering trust through Demonstrate accountability for Create value and enable growth Uphold the highest standards of
customer experiences all the time camaraderie and credible the purpose, empowerment, and for every stakeholder ethical conduct and individual
conduct business acumen integrity
❖ Proactiveness ❖ Intent ❖ Innovation ❖ Wealth ❖ Honesty
❖ Adaptability ❖ Trustworthiness ❖ Risk-Taking ❖ Learning ❖ Fairness
❖ Relationship ❖ Competence ❖ Agility ❖ Research ❖ Transparency
❖ Service Orientation ❖ Commitment Orientation ❖ Solution Orientation ❖ Partnership Orientation ❖ ESG Orientation
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Cultural Beliefs at Elecon

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Our Cultural Beliefs!

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Own It

I am accountable to achieve key results.

Let’s Innovate!

I create timely and competitive products and solutions.

Let’s Unify

I collaborate proactively and transparently to build trust.

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Customer F1rst

I ensure my actions lead to customer delight.

Go Global

I think and act towards becoming a leading global player.

Learn & Lead

I commit to learn, nurture and grow.

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Safety and Wellness

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2020-21 2022-23 2024-25
Zero Zero One
accidents accidents minor accident
0 0 1
1 1
0
2021-22 2023-24 H1FY26
One One Zero
minor accident minor accident accidents
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Safety ingrained as a

Fundamental Value

rather than just a priority

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To prevent incidents and prioritize well-being, we implement:

• ❖ Safety Audits

• ❖ Mock Drills

• ❖ Emergency Preparedness Plans

• ❖ Fire Safety Protocols

• ❖ Comprehensive Training

• ❖ Other targeted initiatives

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Q2 & H1FY26 Performance Highlights

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Consolidated Q2 & H1 FY26 Financial Highlights

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Strong
Revenue EBITDA
Order Intake
Q2FY26
Rs. 578 crores Rs. 126 crores Rs. 688 crores
+14% YoY +12% YoY +28% YoY
H1FY26
Rs. 1,069 crores Rs. 256 crores Rs. 1,302 crores
+19% YoY +25% YoY +20% YoY
Consolidated Revenue and EBITDA for H1FY26 include Rs 25 crores of one-time income from arbitration claim settlement in MHE division received in Q1FY26.
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Open Order as at 30[th] September 2025 stands at Rs. 1,226 crores (vs. Rs. 966 crores as at 30[th] September 2024)

On track to reach Rs. 2,650 crores Revenue for FY26…

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From the desk of CMD

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Commenting on the results, Shri Prayasvin B. Patel, Chairman & Managing Director of Elecon Engineering Company Ltd. Said,

“For Q2FY26, Elecon reported Consolidated Revenue of ₹ 578 crores , reflecting a growth of 13.8% on a Y-o-Y basis. EBITDA for the quarter stood at ₹ 126 crores , with an EBITDA margin at 21.7%, while Profit after Tax (PAT) was ₹ 88 crores, resulting in PAT margins at 15.2% . The Order-in-take for the quarter was ₹ 688 crores with a growth of 28% YoY. Our current order book, along with Order-in-take outlook across both domestic and overseas markets, reinforces our confidence in meeting the full-year guidance.

Elecon continues to be a leader in the Indian market for both Industrial Gear Solutions and Material Handling Equipment and is able to harness the growth momentum in India. We continue to focus on overseas business across different geographies. Our competitive edge is driven by advanced manufacturing capabilities which has been upgraded with latest machines in past 3 years, a comprehensive portfolio of high-quality products, and the ability to deliver custom-engineered solutions with optimized lead times, ensuring consistent and quality products for our diversified customers.

During Q2FY26, our Material Handling Equipment (MHE) division sustained its strong growth trajectory, delivering 33.0% YoY growth in revenue along with uptick in margins. As we pivot towards product supply and expand our aftermarket services, we expect this segment to maintain steady momentum in the years ahead. Our Gear division also demonstrated a resilient performance, registering 8.9% YoY revenue growth and EBIT margin stood at 19.2%.

We are seeing healthy demand in both, domestic and overseas markets. In India, we are witnessing sustained investment activity in our key sectors — steel, power, and cement — which is expected to drive growth. The overseas business too remains on a solid footing, with consistent traction and encouraging enquiry levels across various geographies.

We are steadily advancing towards our strategic objective of generating 50% of our consolidated revenue from international markets by FY30. Strengthening relationships with global OEMs and sustained brand-building initiatives continue to reinforce our confidence in achieving this milestone.

Our growth strategy is underpinned by strategic alliances with international partners, Continued investments in R&D and innovation, and a focused push to scale our high-growth MHE division. These initiatives collectively position Elecon to outperform industry trends, expand our domestic and global presence, and most importantly, deliver sustainable, profitable growth.”

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Consolidated Segment-wise Performance – Gears

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Revenue (Rs Crs.) EBIT (Rs Crs.)
Margin
21.5 19.2 21.5 18.8
(%)
+7.6%
-6.2%
798
+8.9% 742
-2.4%
160 150
405 441
87 85
Q2FY25 Q2FY26 H1FY25 H1FY26 Q2FY25 Q2FY26 H1FY25 H1FY26
Order Intake (Rs Crs.) Open Order as at 30 [th] Sept 2025 (Rs Crs.)
+18.0% +23.0%
+15.0% 977 771
828
627
497
432
Q2FY25 Q2FY26 H1FY25 H1FY26 Sep-24 Sep-25
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• Revenue from Gear Division delivered a steady performance in Q2FY26.

• EBIT Margin was impacted by increased employee cost and change in product mix, as well as accelerated depreciation on recent asset capitalised .

• Based on healthy Open Orders and inquiries, we anticipate to achieve the overall guidance for FY26.

• We are seeing steady demand coming from domestic power, steel and cement industries . Enquiry levels remain encouraging across domestic and international markets.

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Consolidated Segment-wise Performance – MHE

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Revenue (Rs Crs.) EBIT (Rs Crs.)
Margin
25.4 25.7 25.7 29.1 35.7
(%)
+70.2%
+54.3%
+136.6%
+33.0% 245 270 +74.7%
97
+34.9%
159 71
137
103
41
35
26
Q2FY25 Q2FY26 H1FY25 H1FY26 H1FY26 Q2FY25 Q2FY26 H1FY25 H1FY26 H1FY26
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• MHE division continued to see growth momentum in Q2FY26. Revenue in MHE division grew by 54.3% in H1FY26 after excluding arbitration income of Rs. 25 crores.

• We are consistently securing new orders in the domestic market and anticipate orders from international market.

• EBIT Margins for MHE have increased primarily on account of better product mix and aftermarket business.

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Order Intake (Rs Crs.) Open Order as at 30 [th] Sept 2025 (Rs Crs.)
+28.4% +34.2%
455
+83.5% 325
253 339
191
104
Q2FY25 Q2FY26 H1FY25 H1FY26 Sep-24 Sep-25
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  - We are also capitalizing on growing opportunities in the after-market business.

  - Our continued focus on MHE segment will support overall growth in coming years.

• ** Adjusted EBIT for H1FY26 = Reported EBIT less

• Adjusted Revenue for H1FY26 = Total Revenue less Arbitration Settlement Income of Rs 25 crores pertaining to one-time arbitration settlement.

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Arbitration Settlement Profit of Rs 25 crores pertaining to one-time arbitration settlement.

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Consolidated Revenue Split

Geography Wise

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(Rs Crs., %)
+18.7%
1,069
+13.8% 901
+27.6%
578
824
508
+18.3% 646 (77%)
(72%)
457
386
(79%)
(76%)
-3.9%
255 245
122 -0.4% 121 (28%) (23%)
(24%) (21%)
Q2FY25 Q2FY26 H1FY25 H1FY26
Domestic Overseas
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Segment Wise
(Rs Crs., %)
+18.7%
1,069
+13.8% 901
+7.6%
578
799
508
(75%)
+8.9%
742
(82%)
441
405 (76%)
(80%)
270
103 +33.0% 137 159 +70.2% (25%)
(24%) (18%)
(20%)
Q2FY25 Q2FY26 H1FY25 H1FY26
Gear MHE
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The domestic business continued to build on the momentum in Q2 FY26 also from the previous quarter.

The overseas business was flat during the quarter due to delay in receipt of orders which was impacted because of geopolitical situation in Middle East market. However, we continue to see steady traction on an overall basis, with enquiry levels remaining strong across overseas markets.

MHE division continued its robust growth trajectory in Q2FY26, driven by a strategic focus on product supply and capitalizing on growing opportunities in the after-sales services.

The growth momentum in the Gear division has tapered a bit due to delay in receipt of orders, especially in some overseas markets, slowing down. However, we are seeing steady demand across steel, cement and power industries.

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Consolidated Order Book

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Order Intake (Rs Crs.) Open Order as at 30 [th] Sept 2025 (Rs Crs.)
+20.4%
+26.9%
1,302
1,226
1,081
966
+28.3%
977 771
688
828 627
536
497
432
455
325 339
253
191
104
Q2FY25 Q2FY26 H1FY25 H1FY26 Sep-24 Sep-25
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Gear MHE

• ❖ Gear Division: The Order Intake for Q2FY26 stood at Rs. 497 Crs. compared to Rs. 432 Crs. in Q2FY25, a Y-o-Y growth of 15% . Orders in Hand is Rs. 771 Crs. as at 30[th] September 2025.

• ❖ MHE Division: The Order Intake for Q2FY26 stood at Rs 191 Crs. compared to Rs 104 Crs. in Q2FY25, a Y-o-Y growth of 84% . Orders in Hand is Rs. 455 Crs. as at 30[th] September 2025.

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Consolidated Performance

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Total Revenue * Revenue (Gear) Revenue (MHE)
(Rs Crs.) (Rs Crs.) (Rs Crs.)
+ 18.7 % +7.6% +70.2%
+54.3%
+15.9%
798
+8.9% 742 270
+13.8% 1,043 1,069 +33.0% 245
901
441 159
405 137
578
508 103
Q2FY25 Q2FY26 H1FY25 H1FY26 H1FY26 Q2FY25 Q2FY26 H1FY25 H1FY26 Q2FY25 Q2FY26 H1FY25 H1FY26 H1FY26
EBITDA * Profit After Tax
(Rs Crs.) (Rs Crs.)
Margin (%) 22.1 21.7 22.7 22.1 23.9 Margin (%) 17.3 15.2 17.9 15.0 24.6
+25.0%
+63.4%
+12.7%
-2.9%
+11.9% 256 263
231
205
161 156
112 126
88 88
Q2FY25 Q2FY26 H1FY25 H1FY26 H1FY26 Q2FY25 Q2FY26 H1FY25 H1FY26 H1FY26
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• Adjusted Consolidated Revenue and Adjusted EBITDA for H1FY26 excluding Rs 25 crores of one-time income from arbitration claim settlement in MHE division.

** Adjusted PAT for H1FY26 excluding the above Rs 19 crores (net of tax) as well as further Rs 7 crores (net of tax) of arbitration claim settlement booked under Other Income and Rs 80 crores (net of tax) of unrealised mark-to-market gain on reclassification of investment booked as Exceptional Income below PBT.

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Consolidated Key Ratios

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Return on Networth (%) [1,6] RoCE (%) [2,6] Total Asset Turnover (x) [6] Net Fixed Asset Turnover (x) [5,6]
0.9 3.6
26.8% 0.8 3.3
23.6%
21.0%
18.5%
FY25 H1FY26 FY25 H1FY26 FY25 H1FY26 FY25 H1FY26
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Debt to Equity (x) [3] Working Capital Cycle (Days) Current Ratio (x) Quick Ratio (x) [4]
0.11 3.6
85 3.0
81 3.2
0.09 2.7
FY25 H1FY26 FY25 H1FY26 FY25 H1FY26 FY25 H1FY26
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1. Net worth is calculated as Shareholder’s Equity less Intangible Assets 2. Earning Before Interest and Tax (EBIT) is calculated as Profit Before Tax plus Finance Cost (excluding lease interest) and Capital Employed is calculated as Shareholder’s Equity plus Long Term Borrowing plus Short Term Borrowings plus Deferred Tax Liabilities 3. Debt includes lease liability 4. Quick Assets is calculated as current assets less inventory less prepaid expenses; 5. Net Fixed Asset Turnover is calculated based on Average Net Fixed Assets (i.e., Property, Plant & Equipment and Right-of-Use Plant & Machinery) 6. Return on Net worth, ROCE, Total Asset Turnover and Net Fixed Asset Turnover are calculated on TTM basis.

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Consolidated Profit & Loss Statement

Profit and Loss(Rs. Crs.)	Q2FY26	Q2FY25	Y-o-Y	Q1FY26	Q-o-Q	H1FY26	H1FY25	Y-o-Y
Revenue from Operations*	578	508	13.8%	491	17.8%	1069	901	18.7%
Raw Material Cost	329	279		233		562	475
Gross Profit	249	230	8.6%	258	-3.2%	507	425
Gross Margin(%)	43.1%	45.2%	-200 bps	52.5%	-940 bps	47.5%	47.2%	20 bps
Employee Cost	58	46		59		117	93
Other Expenses	66	71		68		134	127
EBITDA*	126	112	11.9%	130	-3.6%	256	205	25.0%
EBITDA Margin(%)	21.7%	22.1%	-40 bps	26.6%	-480 bps	23.9%	22.7%	120 bps
Other Income**	18	11		26		45	26
Depreciation	25	13		25		50	26
EBIT	119	111	7.3%	132	-10.2%	251	205	22.7%
EBIT Margin(%)	20.5%	21.8%	-120 bps	26.9%	-640 bps	23.5%	22.7%	80 bps
Finance Cost	6	2		6		12	4
Share inprofit of Associates	0	2		1		1	5
Profit before Tax & Exceptional Items	113	111	2.2%	127	-10.8%	240	205	17.1%
PBT Margin(%)	19.5%	21.8%	-220 bps	25.8%	-630 bps	22.4%	22.7%	-30 bps
Exceptional Income/ (Expense)***	0	0		80		80	0
Profit before Tax	113	111	2.2%	207		320	205
PBT Margin(%)	19.5%	21.8%	-220 bps	42.2%		30.0%	22.7%
Tax	25	23		32		57	44
PAT	88	88	0.0%	175		263	161
PAT Margin(%)	15.2%	17.3%	-210 bps	35.8%		24.6%	17.9%
EPS(Rs.)	3.91	3.91		7.82		11.73	7.18

* Revenue and EBITDA for H1FY26 includes Rs 25 crores of one-time arbitration settlement income

*** Exceptional Income pertains to unrealised gain on reclassification of investment in EIMCO Elecon (India) Ltd. from “Associate” to “financial asset” w.e.f. 23[rd] April 2025.

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** Other Income for H1FY26 includes Rs 10 crores of one-time arbitration settlement income

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Consolidated Balance Sheet

Assets (Rs. Crs.)	Sep-25	Mar-25
ASSETS
Non-current assets
Property,Plant and Equipment	565	555
Capital work-in-progress	26	7
Right to use of Assets	283	209
Investment property (net)	25	25
Goodwill	102	102
IntangibleAssets	29	24
IntangibleAssets Under Development	-	-
Investments accountedforusing the equitymethod	-	71
Financial Assets
(i)Investments	176	11
(ii) OthersFinancial Assets	6	0
(iii)Loans	-	-
DefferedTax Assets (net)	-	-
IncomeTax Asset (net)	14	13
Other non-current assets	28	19
Total Non Current Assetes	1,253	1,033
Current assets
Inventories	272	243
Financial Assets	-	-
(i)Investments	508	415
(ii)Tradereceivables	511	614
(iii) Cash and cash equivalents	119	159
(iv)Bank balances other than (iii)	192	200
(v)Loans	-	-
(vi) Other Financial Assets	41	14
Income Tax Asset (net)	100	52
Total Current Assets	1,743	1,696
Total Assets	2,996	2,729

Equity and Liabilities (Rs. Crs.)	Sep-25	Mar-25
EQUITY AND LIABILITIES
EQUITY
Equity ShareCapital	22	22
Other Equity	2,222	1,976
Shareholders Funds	2,244	1,999
Non-Current Liabilities
Financial Liabilities
(i)Borrowings	-	-
(ii)LeaseLiability	210	147
Provisions	2	3
Other non-currentliabilities	4	21
DeferredTax Liabilities (net)	47	23
Total Non Current Liabilities	264	194
Current liabilities
Financial Liabilities
(i)Borrowings	-	3
(ii)LeaseLiability	48	31
(iii)TradePayables	210	280
(iii) Other Financial Liabilities	48	49
OtherCurrentLiabilities	149	143
Provisions	23	23
Current tax liabilities (net)	10	7
Total Current Libilities	489	537
Total Liabilities	2,996	2,729

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Consolidated Cashflow Statement

Particulars (Rs Crs.)	H1FY26	FY25
Profit before Tax	320	537
Adjustment for Non-Operating Items	(43)	44
Operating Profit before Working Capital Changes	278	581
Changes in Working Capital	(58)	(22)
Cash Generated from Operations	219	559
Less: Direct Taxes paid (Net of Refund)	54	127
Net Cash from Operating Activities	165	432
Cash Flow from Investing Activities	(137)	(316)
Cash Flow from Financing Activities	(68)	(67)
Net increase/ (decrease) in Cash & Cash equivalent	(40)	49
Cash and cash equivalents at the beginning of the period	159	110
Cash and cash equivalents at the end of the period	119	159

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Company Overview

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Engineering Company providing Innovation led Technology Solutions

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Elecon India

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Radicon UK

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Benzlers Sweden

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State of art manufacturing facilities with DSIR approved In-House R&D facility for new product development and separate Engineering facility to upgrade existing product

One of the largest manufacturer of Gear Solution providers in Asia & Material Handling Equipment with seven decades of experience and expertise

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Elecon
Engineering
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Net Cash Positive Company
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First in India to manufacture sophisticated equipment for bulk Material Handling with product range that caters multiple industrial sectors in India

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Robust market share in a highly fragmented and unorganized market

Manufacturing & Assembly plants at UK, Sweden, USA & Netherland other than India

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Widest range of gear applications across Industrial Sectors. Providing industry agnostic gear solutions Only Company in India having capability to manufacture Complex Gear box for Defence: Indian Navy

In-House Foundry & Fabrication Facility to support end to end solutions for customers

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The company actively embraces environmentally friendly practices and creating long term value for stakeholders

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One of Asia’s largest Industrial Gear Manufacturing Company, having facility spread over 335,000 square meter

Company compliant with an Integrated Management System based on ISO 45001:2018 ISO 9001:2015, ISO 14001:2015. NABL accredited laboratory, aligning with ISO/IEC 17025:2017

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Benzlers Netherlands
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Radicon USA

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Started in 1951 and evolved as one of Asia’s Largest Gear Solutions Company

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Established in Mumbai by Late Shri Ishwarbhai Patel

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Acquisition debt repaid
Forayed into
manufacturing conveying Listed on Bombay Established Successful execution of defence
equipment Stock Exchange Gear division (Indian Navy) project
1951 1962 1976 2022
1951
1960 1963 2010 2025
Elecon Engineering Company Forayed in bulk material Acquired Benzlers and Achieved highest ever
was incorporated as Private handling business Radicon in Europe - Revenue & Profits
Limited Company manufacturers of screw
Cemented position as one
jacks, shaft mounted
Shifted to Vallabh Vidyanagar, of the largest gear solution
gearboxes and industrial
Gujarat in May 1960 company in Asia and a
reducers
prominent MHE player
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Global Presence with Strong Distribution Network

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Domestic Market – Serving across India

3 Brands serving across the globe

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1 13
Manufacturing Facility Sales Offices
65+ 60+
Distributors & Dealers Customer Representatives
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Overseas Market – Serving 95+ Countries
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4
10
Manufacturing / Assembly
Sales Offices
Centres
110+ 35+
Distributors & Dealers Customer Representatives
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All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness

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Two locations with integrated R&D Centres in India to strengthen our leadership position

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Pre-
DSIR approved In- Engineering 100+ Engineers
Design
House R&D facility Stage Stage team dedicated for
R&D
Design
3-D
Analysis &
Model &
20+ Software for Value 2 Patents granted &
Drawings
designing, analysis and Engineering 5 Patents applied
parameter validation
Elecon's R&D initiatives aim to foster innovation, improve existing product offerings, and develop novel technologies in the
field of material handling and industrial gear. These efforts provide a competitive edge and address the dynamic needs of the
evolving market.
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State of the Art Manufacturing Facility

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State of the art facility located at Vallabh Vidyanagar, Gujarat The facility is spread over approximately 335,000 Square Meters

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~~Bird’s eye view of the Facility~~

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Gear Division – Providing a wide variety of solutions

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Diversified across Market leaders in the
Best in class Gear
World Class industries such as domestic market and
Widest range of Solutions
Industrial Gears operations with low Power, Cement, strategically expanding
lead time Sugar, Steel etc. overseas
In-house
Strong Brand Name
Maintaining the Manufacturing facility manufacturing
Pan-India Service
utmost safety and for both Catalogue & capabilities with
Network
quality standards Engineered Products 700+ machine tools
Our Diversified Product Portfolio
Widest Market Reach
Focus on Customer
Helical/Bevel Helical Worm Gearboxes Couplings Planetary Gearboxes Marine Gearboxes Custom Built Gearboxes
Gearboxes Solutions
One of Asia’s Largest
Gear Solution Provider
EON [2] Series Gearboxes High Speed Gearboxes Central Drive Mill Pinion Shaft Double Helical Gear Wheel Loose Gears
Gearboxes
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Supplying to multiple industries thus diversifying risk

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Steel Cement
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Sugar
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Plastic
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Industry Agnostic Gear Access to new market Solutions opportunities Defence Rubber

Sustainable Performance Mining

Resilience to Business Cycles Power …and many more

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MHE Division: A proxy to Capex Creation

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Largest supplier of
Enhanced
Pioneers in Stockyard Machines
diversification Widest range of
manufacturing Bulk & Wagon tipplers in End User Industry
MHE India across industries products
Consistent delivery Robust In-House Discontinued EPC
Maintaining of high-quality design and Projects and Focus Steel Cement
highest standards products instills manufacturing only on Profitable
of safety customer reliance capabilities Product Business
Our Diversified Product Portfolio
Mining Fertilizer
Ports Power
Feeders Automatic Weighing Stackers / Reclaimers Raw Material Handling Wagen Tippler Specialized Conveyors
System
Oil & Gas
Pulleys Mobile Stacker Port Equipment Truck Loader
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Board of Directors

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Shri Prayasvin B. Patel

Chairman & Managing Director

With over 5 decades of experience, Mr. Prayasvin B. Patel brings strong technical and commercial expertise. He holds a bachelor’s degree in mechanical engineering and is an MBA graduate from USA. Moreover, he plays a key role in strategy across the Gear and MHE divisions, overseeing marketing and business development.

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Shri Pranav C. Amin

Independent Director

He is a graduate in Economics/Industrial Management and MBA in International Management. With his deep expertise in strategic leadership and organisational management, he brings both a global outlook and sharp business insight to every decision.

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Shri Pradip M. Patel

Non-Independent & Non-Executive Director

With over 5 decades of experience in the bearing industry, Mr. Pradip M. Patel brings a wealth of knowledge and insight to the business. He is an MBA from a university in USA and excels in leadership, strategic planning, and providing strong operational direction, playing a key role in driving growth and performance.

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Shri Ashutosh A. Pednekar

Independent Director

He is a practicing Chartered Accountant and is a Partner of M. P. Chitale & Co., Chartered Accountants since 1992. He possesses deep expertise in accountancy, finance, risk management, and insurance contracts, bringing valuable insights across these critical areas.

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Shri Prashant C. Amin

Non-Independent & Non-Executive Director

With over 4 decades of experience in leading and operating enterprises, Mr. Prashant C. Amin has demonstrated strong leadership in successfully acquiring, integrating, and managing foreign companies. He completed his MBA in USA, along with a master’s degree in engineering and management.

Shri Aayush A. Shah

Non-Independent & Non-Executive Director

He serves as the Executive Director of Power Build Private Limited. He has been actively involved in managing business units, formulating strategic plans and budgets, enhancing operational processes, overseeing project execution, and leading successful business turnaround efforts.

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Shri Nirmal Bhogilal

Independent Director

Over 5 decades of extensive experience in the machine tool building and engineering industry. A graduate in Chemical Engineering from London University, he currently serves as the Chairman of the Batliboi Group.

Smt. Natasha K. Treasurywala

Independent Director

She holds a Law degree from Mumbai University, a B.A. from New York University and is a qualified Solicitor with the Bombay Incorporated Law Society. She is an advocate and partner at M/s. Desai & Diwanji, where she is part of the corporate commercial practice group.

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Strong Management Team

Mr. Deepak Dalwadi Mr. Kaushik Patel Head of Gear Division Head of MHE Division Joined Gear division as › Joined the Company as an General Manager- Supply Engineer in Project Chain Management in 2014. Department of MHE and elevated as Vice Division. Over a period of 18 President. He brings a years, he has served across wealth of experience, multiple functions like SCM, proven leadership track BD, etc. He brings wealth of record and a deep experience, proven understanding of vision and leadership track record and values of the Company with deep understanding of his rich experience of 35 mission and values of the years. Company.

› Joined Gear division as General Manager- Supply Chain Management in 2014. and elevated as Vice President. He brings a wealth of experience, proven leadership track record and a deep understanding of vision and values of the Company with his rich experience of 35 years.

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Mr. Narasimhan Raghunathan Chief Financial Officer › Over two decades of experience in Accounts, Finance, Taxation, Legal & Compliance, and related functions in diverse industries and companies, encompassing both Indian and multinational corporations such as Ashok Leyland, Ernst & Young, Hansen Transmissions of Belgium, ZF of Germany, and KSB Pumps of Germany.

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Strong Relationship with Marquee Clients

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Gear
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MHE

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…and many more

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The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only

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Awards and Recognition

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“Best Employee Engagement Strategy” Award by Synnex at India HR Summit Awards 2025, New Delhi

Indian Red Cross Society felicitated for contribution through Voluntary Blood Donation drives

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3rd Consecutive Year in a row

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ESG Vision

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Sustainable towards Environment 1/2

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Eco friendly and Green Campus
Rainwater Harvesting to conserve rainwater
~95% Lighting converted into LED
40% reduction in using wood by replacing to Nail-less
Packaging
STP to reuse sewage water
~60% Energy from Renewal Sources
Wind Power – 13.2 MW & Solar Power – 5.5 MW
Advance Electric powered equipment geared
Additional 7 MW is under commissioning
towards green energy contribution
(4 MW of solar and 3 MW of wind)
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Sustainable towards Environment 2/2

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Elecon’s commitment to 3 United Nations Sustainable Development Goals (UN SDGs) for pledge towards sustainable environment

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Elecon received approval for NEAR-TERM SCIENCE-BASED TARGETS from SBTi on 6[th] January 2025

Commitment to reduce absolute scope 1 and 2 GHG emissions 54.6% by FY33 from a FY23 base year

Commitment that 81.4% of its suppliers by emissions covering purchased goods & services, and up & downstream transportation and distribution, will have science-based targets by FY28

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Elecon Engineering – A responsible corporate

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Elecon's mission is to engage in environmentally responsible practices, contribute to thegreater good of society, and ensure the well-being of its employees	Health & Medical Promoting Sports Caring for Society	Health & Medical Promoting Sports Caring for Society	Health & Medical Promoting Sports Caring for Society
	❖Blood Donation Camp ❖Charity to NGOs for health care and financial support to people affected by critical illness ❖Supporting charitable hospitals with latest medical equipment ❖Health activities for community ❖Healthy Heart Walkathon ❖Health & Safety awareness programs in nearby villages ❖Yoga Session on International Yoga Day ❖Under banner “Aarogyam”, organize various awareness session	❖Elecon Cricket Academy ❖Elecon Tennis Academy ❖Sponsored State Level Badminton Tournament ❖Provide training to Players	❖Food Distribution for needy ❖Support to Weaker Section of Society ❖Support to Students through Scholarship ❖Initiative for Education and Training Program ❖Career Counselling Session for children of employees ❖Initiative for Special Person ❖Maintaining gardens in the town ❖Sapling distribution under Plantation program

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Vision for Inclusiveness

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Promoting procurements from MSME Sustainable Supply Chains Dealer and Channel Conducting Training Business Partner Meet Program for the Partner Meet customers Web Supplier Portal for sustainable supply chain Business Partner Meet

Dealer and Channel Partner Meet

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Building Strong Workforce with Care

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Culture Encouragement

Leadership Program

Care & Safety

Sustained Workforce

• ❖ Zero Fatality ❖ Health & Hygiene Awareness program

• ❖ 10+ Years average service period of an employee

• ❖ “Gurupath”– A succession development programme

❖ Zero Fatality ❖ 133+ Learning and ❖ Celebrate events for Development Programs ❖ Health & Hygiene Awareness employees' achievements conducted during half year program ❖ Celebrate various occasions ❖ 2,300+ employees attended ❖ 1578 workman hours various training for 6,900+ & Prize distribution imparted to SHE training training hours under ❖ Felicitated employees using ❖ Health Checkup for continuous learning program employees above 40 years of cycle as mode of transport & ❖ Employees inclusiveness age through “HR Aapke supporting E-Vehicles ❖ Mediclaim for employees Nikat ” initiative ❖ Employee’s Children and their families and Term Insurance cover for ❖ Team Building Activity Felicitation on various Employees ❖ Host an Engineering Fair occasions ❖ POSH awareness session as part of Engineer’s week, ❖ Awareness on addiction of where employees showcase ❖ Organized various session on their creativity through Tobacco and implementation “Health, Safety & Financial innovative ideas, model Awareness” of “No Tobacco Policy” displays and more 36

• ❖ Leadership Accountability Workshop under “Gurukul” Project

• ❖ 810 workforce building team Elecon

• ❖ Creating a gender-diverse workforce

• ❖ Initiated workshops on cultural transformation in collaboration with a global leading organization, to strengthen the company's culture, beliefs, and values during the growth phase

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Historical Performance

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Historical Consolidated Financial Performance and Guidance for FY26

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Total Revenue EBITDA EBITDA Margin
(Rs Crs.) (Rs Crs.) (%)
+410 bps
+22.5% 2,650 +30.1% 636 24.5% 24.4% 24.0%
22.2%
2,227 543 20.3%
1,937 474
1,530 339
1,212
246
FY22 FY23 FY24 FY25 FY26E FY22 FY23 FY24 FY25 FY26E FY22 FY23 FY24 FY25 FY26E
Profit After Tax Profit After Tax Margin
(Rs Crs.) (%)
+700 bps
415 18.4% 18.6%
+43.7%
356 15.5%
11.6%
237
140
FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25
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Historical Consolidated Ratios

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Return on Networth (%) [1] ROCE (%) [2] Total Asset Turnover (x) Net Fixed Asset Turnover (x) [5]
22.4% 29.1% 1.0 3.7 3.6
21.0% 26.8% 0.9 0.9
18.8% 24.0%
2.9
0.7
13.6% 17.6% 2.3
FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25
Debt to Equity (x) [3] Working Capital Cycle (Days) Current Ratio (x) Quick Ratio (x) [4]
0.14 91 3.2 2.7
84 85 3.0 2.4
72 2.6
0.09 1.7
1.6
1.1
0.04 0.04
FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25
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1. Net worth is calculated as Shareholder’s Equity less Intangible Assets 2. Earning Before Interest and Tax (EBIT) is calculated as Profit Before Tax plus Finance Cost (excluding lease interest) and Capital Employed is calculated as Shareholder’s Equity plus Long Term Borrowing plus Short Term Borrowings plus Deferred Tax Liabilities 3. Debt includes lease liability 4. Quick Assets is calculated as current assets less inventory less prepaid expenses; 5. Net Fixed Asset Turnover is calculated based on Average Net Fixed Assets (i.e., Property, Plant & Equipment and Right-of-Use Plant & Machinery).

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Historical Consolidated Profit & Loss Statement

Profit and Loss (Rs. Crs.)	FY25	FY24	FY23	FY22	CAGR
Revenue from Operations	2,227	1,937	1,530	1,212	22.5%
Operating Expenses	1,187	1,018	836	661
Gross Profit	1040	919	694	551	23.6%
Gross Margin (%)	46.7%	47.4%	45.4%	45.4%
Employee Cost	209	188	150	128
Other Expenses	288	256	205	176
EBITDA	543	474	339	246	30.1%
EBITDA Margin (%)	24.4%	24.5%	22.2%	20.3%
Other Income	60	44	20	9
Depreciation	61	51	49	49
EBIT	542	468	310	206
EBIT Margin (%)	24.3%	24.1%	20.3%	17.0%
Finance Cost	13	9	13	37
Share in profit of Associates	8	6	3	1
Profit before Tax	537	465	300	171	46.4%
PBT Margin (%)	24.1%	24.0%	19.6%	14.1%
Tax	122	110	62	30
PAT	415	356	238	140	43.7%
PAT Margin %	18.6%	18.4%	15.5%	11.6%
EPS (Rs.)	18.50	15.85	10.58	6.26

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Historical Consolidated Balance Sheet

Assets (Rs Crs.)	Mar-25	Mar-24	Mar-23	Mar-22
ASSETS
Non-current assets
Property,Plant and Equipment	555	516	527	523
Capital work-in-progress	7	1	0	1
Right to use of Assets/Investment Properties	209	106	82	70
Investmentproperty (net)	25	25	25	25
Intangible Assets	24	20	18	15
Goodwill	102	102	103	106
Investments accounted for using the equity method	71	63	57	54
Financial Assets
(i)Investments	11	20	1	0
(ii)Others Financial Assets	0	6	8	2
(iii)Loans	0	0	0	0
Deferred Tax Assets(net)	0	1	2	4
Income Tax Asset	13	10	10	23
Other non-current assets	19	36	12	9
Total Non-Current Assets	1,033	905	844	832
Current assets
Inventories	243	230	279	262
Financial Assets
(i) Investments	415	203	19	0
(ii)Trade receivables	614	445	346	415
(iii)Cash and cash equivalents	159	110	82	84
(iv)Bank balances other than(iii)	200	154	128	28
(v)Loans	0	0	0	0
(vi)Other Financial Assets	14	56	9	68
Income Tax Asset	52	21	25	30
Total Current Assets	1,696	1,219	888	887
Total Assets	2,729	2,124	1,732	1,719

Equity and Liabilities (Rs Crs.)	Mar-25	Mar-24	Mar-23	Mar-22
EQUITY AND LIABILITIES
EQUITY
Equity Share Capital	22	22	22	22
Other Equity	1,976	1,582	1,257	1,028
Shareholders Funds	1,999	1,604	1,279	1,050
Non-Current Liabilities
Financial Liabilities
(i) Borrowings	0	0	0	20
(ii) Lease Liability	147	59	40	32
Provisions	3	17	33	49
Deferred Tax Liabilities (Net)	23	26	26	28
Other non-current liabilities	21	18	11	0
Total Non-Current Liabilities	194	121	110	129
Current liabilities
Financial Liabilities
(i) Borrowings	3	0	0	80
(ii) Lease Liability	31	11	11	19
(iii) Trade Payables	280	188	196	270
(iv) Other Financial Liabilities	49	45	6	8
Other Current Liabilities	143	130	111	118
Provisions	23	17	13	23
Current tax liabilities (net)	7	8	5	21
Total Current Liabilities	537	399	343	540
Total Liabilities	2,729	2,124	1,732	1,719

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Historical Consolidated Cashflow Statement

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Particulars (Rs Crs.)	FY25	FY24	FY23	FY22
Profit before Tax	537	465	300	171
Adjustment for Non-Operating Items	44	50	39	106
Operating Profit before Working Capital Changes	581	516	338	277
Changes in Working Capital	(22)	(43)	37	(22)
Cash Generated from Operations	559	472	375	254
Less: Direct Taxes paid	127	108	66	31
Net Cash from Operating Activities	432	365	309	223
Cash Flow from Investing Activities	(316)	(279)	(166)	15
Cash Flow from Financing Activities	(67)	(59)	(145)	(250)
Net increase/ (decrease) in Cash & Cash equivalent	49	27	(2)	(12)
Cash and cash equivalents at the beginning of the period	110	82	84	96
Cash and cash equivalents at the end of the period	159	110	82	84

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Thank You

ELECON ENGINEERING COMPANY LIMITED CIN: L29100GJ1960PLC001082 Narasimhan Raghunathan / Ashish Jain Email: narasimhanr@elecon.com / arjain@elecon.com For updates and specific queries, please visit www.elecon.com

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