Q3FY17 Results: Elecon Engineering Company Ltd
Bhagyashree Vivarekar / 08 Feb 2017
The company posted total sales of Rs 219.69 crore for Q3FY17, which represents a 19.42 per cent sequential increase and 12.96 per cent YoY decline.
Elecon Engineering Company Ltd. reported its results for the quarter ended December 31, 2016 today.
The company posted total sales of Rs 219.69 crore for Q3FY17, which represents a 19.42 per cent sequential increase and 12.96 per cent YoY decline. Material handling equipment segment contributed 66% of the total revenue during the quarter while the rest was contributed by gear business.
Its operating profit (EBIT) for the quarter was Rs 4.31 crore and its EBIT margin was 1.96 per cent.
The company’s net loss mounted to Rs 7.5 crore, as against net loss of Rs 3.02 crore.
During the quarter, the company bagged orders worth Rs 108 crore for gears, resulting in order backlog of Rs 706 crore. In the material handling business, the company’s order backlog stands at Rs 551 crore.
Elecon Engineering Company Ltd is engaged in the manufacture of material handling equipment, industrial geared motors and reducers, mining equipment and casting processes. The company operates in three business segment; material handling equipment, transmission equipment and alternative energy division. Elecon has supplied hi-tech equipments to core sectors such as steel, fertilisers, cement, coal, lignite and iron ore mines, sugar, power stations and port mechanisation in India and abroad.
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