Elecon Engineering Co. Ltd.Revenue +10.5%, EBITDA margin 23.1%, overseas +30.6%

Elecon Engineering's Q2 FY27 call, held on 15 October 2026, reported revenue of ₹639 crore, up 10.5% on the year and 22.7% on Q1, with EBITDA up 17.7% to ₹148 crore at a 23.1% margin and profit after tax up 9.8% to ₹96 crore.

The gear division's EBIT margin rose 290 basis points to 22.1%, its order book rose 37% to ₹1,056 crore, and overseas revenue rose 30.6% to ₹159 crore. The material handling division's order intake rose 32.5%, though its EBIT margin dipped to 20.2%. The rating outlook was raised to AA Positive and the company has no borrowings and net cash of about ₹700 crore. Management guided mid-double-digit consolidated revenue growth, around 15%, for the second half with a minimum EBITDA margin at last year's level, blamed domestic softness on steel volatility and the monsoon, and repeated its FY30 goal of 50% overseas revenue and ₹5,000 crore. It gave no acquisition size or domestic growth target.