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Elin Electronics Limited
(ELIN)
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Rating:54Neutral
Price Target:
₹97.00
▼(-3.34% Downside)
Action:Reiterated
Date:07/16/26
The score is held back primarily by weak and inconsistent cash generation (negative recent free cash flow) and bearish technical signals (below key moving averages with negative MACD). These are partially offset by a conservative, strengthening balance sheet with very low leverage and a moderate valuation (P/E ~24.8).
Positive Factors
EMS and design/manufacturing platform
The EMS and original design/manufacturing model gives Elin a role across product design, sub-assemblies, and finished goods. Serving multiple electronics categories can support recurring B2B programs, broaden manufacturing capabilities, and create durable relevance with brand customers.
Negative Factors
Inconsistent free cash flow
Negative free cash flow reduces the cash available for debt reduction, investment, and shareholder returns, even when accounting profits remain positive. If the pattern persists, higher reinvestment needs or working-capital pressure could constrain execution and weaken financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
EMS and design/manufacturing platform
The EMS and original design/manufacturing model gives Elin a role across product design, sub-assemblies, and finished goods. Serving multiple electronics categories can support recurring B2B programs, broaden manufacturing capabilities, and create durable relevance with brand customers.
Read all positive factors
Elin Electronics Limited (ELIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.73B
Dividend Yield0.61%
Average Volume (3M)10.98K
Price to Earnings (P/E)―
Beta (1Y)1.26
Revenue Growth14.63%
EPS Growth-124.81%
CountryIN
Employees2,376
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-1.62
Shares Outstanding49,709,220
10 Day Avg. Volume12,406
30 Day Avg. Volume10,985
Financial Highlights & Ratios
PEG Ratio-0.85
Price to Book (P/B)0.83
Price to Sales (P/S)0.36
P/FCF Ratio-48.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)10
Revenue Forecast (FY)₹15.51B
Elin Electronics Limited Business Overview & Revenue Model
Company Description
Elin Electronics Limited, operating from New Delhi, India, and established in 1969, specializes in offering comprehensive design and manufacturing solutions for a diverse range of products. Their services extend to both domestic and international ...
How the Company Makes Money
Elin Electronics Limited primarily makes money by manufacturing and supplying electronics and electrical products to other companies (typically brands/OEMs) under contract manufacturing/EMS arrangements, and by selling products from its own produc...
Elin Electronics Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.47B | 12.88B | 11.80B | 10.42B | 10.75B | 10.66B |
| Gross Profit | 1.56B | 1.25B | 1.14B | 2.71B | 739.91M | 1.96B |
| EBITDA | 456.39M | 622.06M | 707.10M | 496.48M | 673.74M | 794.29M |
| Net Income | -82.15M | 225.91M | 293.22M | 138.74M | 268.03M | 391.81M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 7.66B | 7.28B | 6.69B | 7.34B | 5.33B |
| Cash, Cash Equivalents and Short-Term Investments | 861.00M | 861.00M | 982.79M | 620.63M | 513.34M | 60.90M |
| Total Debt | 0.00 | 165.23M | 240.56M | 119.92M | 783.62M | 1.03B |
| Total Liabilities | -5.57B | 2.09B | 1.94B | 1.66B | 2.41B | 2.30B |
| Stockholders Equity | 5.57B | 5.57B | 5.34B | 5.03B | 4.93B | 3.03B |
Cash Flow | ||||||
| Free Cash Flow | 168.16M | -94.75M | -238.17M | 96.15M | 99.54M | 147.09M |
| Operating Cash Flow | 360.06M | 500.67M | 167.36M | 426.68M | 623.19M | 571.06M |
| Investing Cash Flow | -156.53M | -388.22M | -213.65M | 364.28M | -1.97B | -278.11M |
| Financing Cash Flow | -129.33M | -71.75M | 44.82M | -792.68M | 1.31B | -299.57M |
Elin Electronics Limited Technical Analysis
Negative
100.35
Price Trends
100.66
Negative
108.30
Negative
128.14
Negative
Market Momentum
-1.25
Positive
40.89
Neutral
4.56
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ELIN, the sentiment is Negative. The current price of 100.35 is above the 20-day moving average (MA) of 98.93, below the 50-day MA of 100.66, and below the 200-day MA of 128.14, indicating a bearish trend. The MACD of -1.25 indicates Positive momentum. The RSI at 40.89 is Neutral, neither overbought nor oversold. The STOCH value of 4.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ELIN.
Elin Electronics Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹115.52B | 36.46 | ― | 0.87% | 17.84% | -2.60% | |
73 Outperform | ₹38.83B | 39.03 | ― | 0.27% | 21.99% | 28.73% | |
64 Neutral | ₹90.26B | 34.79 | ― | 0.07% | 14.60% | -1.12% | |
58 Neutral | ₹25.88B | 23.04 | ― | 1.53% | 18.29% | -18.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹4.73B | -58.80 | ― | 0.61% | 14.63% | -124.81% | |
54 Neutral | ₹19.59B | 21.56 | ― | 0.33% | 14.96% | -4.12% |
* General Sector Average
IN:ELIN
Elin Electronics Limited
95.25
-122.90
-56.34%
IN:BBL
Bharat Bijlee Limited
2,289.85
-718.31
-23.88%
IN:HPL
HPL Electric & Power Limited
304.65
-159.59
-34.38%
IN:INDOTECH
Indo Tech Transformers Ltd.
3,656.25
1,843.20
101.66%
IN:TARIL
Transformers and Rectifiers (India) Limited
300.70
-195.75
-39.43%
IN:VOLTAMP
Voltamp Transformers Limited
11,418.10
3,727.16
48.46%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.