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Elin Electronics Limited
(ELIN)
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Rating:51Neutral
Price Target:
₹76.00
▼(-24.27% Downside)
Action:Reiterated
Date:10/09/26
The score is held back primarily by weak cash-flow quality (recent negative free cash flow) and a clearly bearish technical setup with price far below key moving averages. These are partially offset by a conservative, de-risked balance sheet with very low leverage, while valuation remains unhelpful due to a negative P/E and no dividend yield.
Positive Factors
Revenue Expansion
The multi-year increase in revenue indicates that Elin has expanded its manufacturing and electronics business over time. A larger revenue base can support operating scale, deepen customer programs, and provide a platform for further growth if execution and margins become more consistent.
Negative Factors
Negative Free Cash Flow
Persistently negative free cash flow can limit Elin’s ability to fund expansion, repay obligations, or return capital without relying on additional financing. If reinvestment needs or working-capital pressure continue, reported profits may translate less effectively into usable cash.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Expansion
The multi-year increase in revenue indicates that Elin has expanded its manufacturing and electronics business over time. A larger revenue base can support operating scale, deepen customer programs, and provide a platform for further growth if execution and margins become more consistent.
Read all positive factors
Elin Electronics Limited (ELIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.76B
Dividend Yield0.61%
Average Volume (3M)8.83K
Price to Earnings (P/E)―
Beta (1Y)1.44
Revenue Growth14.63%
EPS Growth-124.81%
CountryIN
Employees2,391
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-1.62
Shares Outstanding49,709,220
10 Day Avg. Volume7,826
30 Day Avg. Volume8,834
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
94.19
Negative
100.55
Negative
118.08
Negative
Market Momentum
-4.89
Positive
21.63
Positive
3.77
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 86.60, above the 50-day MA of 94.19, and below the 200-day MA of 118.08, indicating a bearish trend. The MACD of -4.89 indicates Positive momentum. The RSI at 21.63 is Positive, neither overbought nor oversold. The STOCH value of 3.77 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 | ₹105.10B | 32.87 | ― | 0.96% | 17.84% | -2.60% | |
69 Neutral | ₹33.46B | 33.38 | ― | 0.32% | 21.99% | 28.73% | |
56 Neutral | ₹23.46B | 22.12 | ― | 1.69% | 18.29% | -18.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹16.49B | 18.19 | ― | 0.39% | 14.96% | -4.12% | |
54 Neutral | ₹84.98B | 33.49 | ― | 0.09% | 14.60% | -1.12% | |
51 Neutral | ₹3.76B | -46.31 | ― | 0.61% | 14.63% | -124.81% |
* General Sector Average
IN:ELIN
Elin Electronics Limited
75.60
-122.85
-61.90%
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Elin Electronics Limited Corporate Events
Elin Electronics starts commercial production at new Bhiwadi plant
Sep 14, 2026
Elin Electronics Limited has commenced commercial production at its new plant in the Elcina Manufacturing Cluster at Salarpur Industrial Area in Bhiwadi, Rajasthan, effective September 14, 2026. The facility adds to the company’s nationwide ...
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.