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Elantas Beck India

ELANTAS NSE
₹12,795.00 +39.00 (+0.31%)
P/E
57.13
View as Markdown
MCP
Close 4 Nov 2026 ₹12,795.00 +2,764.25 +27.6% 1Y
Start ₹10,030.75

Key Fundamentals

MicrocapChemicals & PetrochemicalsChemicals

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
21.20%
Debt to Equity
0.00
EPS (TTM)
₹223.98
Book Value
₹1,392.52
Market Cap
—
P/E (TTM)
57.13
P/B
9.19
ROE
15.70%
Dividend Yield
0.06%
EBITDA
₹220 Cr
52W High
₹15,150.00
52W Low
₹7,111.00
Day Range
₹12,468.00 – ₹12,931.00
Volume
694

Peer Comparison

Commodities › Chemicals › Specialty Chemicals

Elantas Beck peer comparison
Pidilite Industries
₹1,510.2058.04₹1,54,107 Cr13.721.42%23.90%31.00%₹15,399 Cr₹2,677 Cr
Gujarat Fluorochemicals
₹4,613.3083.76₹49,073 Cr6.040.07%7.82%9.64%₹5,303 Cr₹600 Cr
Navin Fluorine International
₹8,785.0057.03₹44,060 Cr10.100.09%19.60%21.00%₹3,634 Cr₹789 Cr
Deepak Nitrite
₹1,578.4027.48₹20,919 Cr3.320.49%9.82%11.40%₹8,575 Cr₹784 Cr
Aether Industries
₹1,540.7086.90₹20,030 Cr7.880.00%9.66%11.90%₹1,231 Cr₹235 Cr
Aarti Industries
₹447.5530.57₹15,838 Cr2.590.23%7.13%6.86%₹9,010 Cr₹531 Cr
Fine Organic Industries
₹5,135.0035.94₹15,730 Cr5.370.22%16.50%21.50%₹2,472 Cr₹438 Cr
Elantas Beck (this company)
₹12,795.0057.13₹10,069 Cr9.190.06%15.70%21.20%₹937 Cr₹177 Cr
Median 8 companies₹3,095.8557.08₹20,474 Cr6.960.16%12.76%16.45%₹4,469 Cr₹566 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

56 Good

Data confidence 100/100

Category scores

Quality
59
Good
Returns, margins, earnings quality 22% weight
Valuation
20
Poor
Cheap vs sector & own history 24% weight
Growth
61
Good
Sales & profit trajectory 9% weight
Financial Health
90
Strong
Solvency, leverage, coverage 9% weight
Momentum
86
Strong
Trend strength, vol-adjusted 12% weight
Ownership
62
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has delivered good profit growth of 19.1% CAGR over last 5 years

Weaknesses

1
  • Stock is trading at 8.82 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBearish261
Moving AveragesNeutral505

Key readings

RSI (14)
45.38
Neutral
MACD (12,26,9)
−160.14
Bearish
SMA (50)
13,182.63
Bearish
SMA (200)
10,320.18
Bullish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Dec 2025; 1Y: fiscal year to Dec 2025 against Dec 2024; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+9.44%
5Y+17.23%
3Y+9.55%
1Y+13.22%
TTM+17.57%

Net profit

Net profit growth by window
10Y+13.42%
5Y+19.01%
3Y+14.73%
1Y+5.71%
TTM+33.08%

Operating cash flow

Operating cash flow growth by window
10Y+10.69%
5Y+9.96%
3Y+15.23%
1Y+101.59%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+2.26 pp
5Y+2.00 pp
3Y+3.23 pp
1Y+1.05 pp
TTM+4.59 pp

Revenue by year

Revenue by year, ₹ crore
Dec 2016₹365 Cr
Dec 2017₹383 Cr
Dec 2018₹409 Cr
Dec 2019₹394 Cr
Dec 2020₹383 Cr
Dec 2021₹522 Cr
Dec 2022₹645 Cr
Dec 2023₹680 Cr
Dec 2024₹749 Cr
Dec 2025₹848 Cr

Net profit by year

Net profit by year, ₹ crore
Dec 2016₹54.00 Cr
Dec 2017₹55.00 Cr
Dec 2018₹66.00 Cr
Dec 2019₹50.00 Cr
Dec 2020₹62.00 Cr
Dec 2021₹67.00 Cr
Dec 2022₹98.00 Cr
Dec 2023₹137 Cr
Dec 2024₹140 Cr
Dec 2025₹148 Cr

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk medium

Elantas Beck India is a nearly debt-free specialty chemicals company with a market cap of ₹7,419 Cr trading at a PE of 50.6x and 7.33x book value. The company has delivered 19% profit CAGR over 5 years with consistent 16-18% ROE, but the stock has corrected 24% over the past year while revenue growth moderated to 11% TTM.

Bull Case 8
  • Virtually debt-free balance sheet provides financial resilience and flexibility for capacity expansion without dilution or interest burden
  • Consistent 5-year profit CAGR of 19.1% demonstrates strong earnings compounding ability through business cycles
  • Stable ROE of 16-18% over the past decade (3-year: 18%, 5-year: 17%, 10-year: 17%) indicates disciplined capital allocation
  • Promoter ALTANA AG (Germany) holds 75% stake, unchanged for multiple quarters, signaling strong parent commitment and technology transfer pipeline
  • India's electrical insulation market is projected to grow at 5.8% CAGR through 2033, providing a structural demand tailwind from electrification and infrastructure spending
  • 10-year stock CAGR of 19% reflects long-term value creation despite recent correction
  • Revenue grew 10% CAGR over 3 years and 17% over 5 years, showing an accelerating top-line trajectory relative to the 10-year 9% CAGR
  • Q4 FY25 revenue of ₹206 Cr (up 5.7% YoY) indicates continued demand traction from power and infrastructure sectors
Bear Case 7
  • Stock has declined 24% over the past 1 year, underperforming broader markets and signaling potential de-rating
  • Price-to-book of 7.33x is expensive relative to the 16% trailing ROE, implying high expectations already priced in
  • Dividend yield of just 0.08% offers negligible income return, making total return entirely dependent on capital appreciation
  • TTM profit growth has decelerated to 8% from the 5-year CAGR of 19%, suggesting margin pressure or rising input costs
  • Q4 FY25 net profit fell 5.8% YoY to ₹31 Cr despite revenue growth, indicating operating margin compression
  • Niche product portfolio in electrical insulating varnishes limits addressable market size and diversification options
  • Low FII holding of just 0.04% reflects limited institutional interest, which can constrain liquidity and price discovery

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

153d ago

TL;DR: Elantas Beck India is in a solid growth phase — the ₹56 crore capex to add 11,000 MT capacity signals confidence in medium-term demand, while Q4FY26 profitability and a healthy dividend reinforce financial strength. No visible headwinds emerged in the recent news cycle. The trend is improving with both organic investment and steady shareholder returns pointing to continued momentum.

Positives 3
  • ₹56 Cr Ankleshwar capacity expansion Jun 02

    Board approved ₹56 crore investment to add 11,000 MT/year manufacturing capacity at Ankleshwar, aimed at improving flexibility and supply reliability.

  • Strong Q4FY26 financial results May 12

    Q4FY26 revenue came in at ₹22,216.93 lakhs with net profit of ₹3,108.43 lakhs; full-year FY26 net profit stood at ₹14,777.98 lakhs.

  • ₹7.50 dividend, AGM resolutions passed May 13

    70th AGM held on 12 May 2026 passed all 6 resolutions including a Rs. 7.50 per share dividend and key board appointments.

Quarterly Results

₹ Cr
500123 quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
173
163
174
177
191
184
197
206
210
217
215
222
283
Expenses
138
126
138
139
153
150
162
166
170
169
170
179
202
Operating Profit
35
37
36
38
39
33
35
40
40
47
45
43
82
OPM %
20%
23%
20%
21%
20%
18%
18%
20%
19%
22%
21%
20%
29%
Other Income
15
12
17
15
17
12
10
9
18
7
14
3
19
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
3
3
3
3
3
4
5
5
5
6
6
6
6
PBT
47
47
49
49
52
42
40
44
53
49
53
40
95
Tax %
25%
25%
25%
25%
20%
25%
26%
26%
26%
25%
25%
23%
25%
Net Profit
35
35
37
37
42
31
30
33
39
36
39
31
71
EPS (₹)
44.68
43.93
46.67
46.56
52.79
39.19
37.51
41.46
49.56
45.74
49.66
39.2
89.38

Profit & Loss

₹ Cr
500123 profit and loss, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025TTM
Sales
341
344
365
383
409
394
383
522
645
680
749
848
937
Expenses
299
282
287
304
344
340
313
444
535
537
604
676
720
Operating Profit
42
62
79
78
65
54
70
78
110
143
144
172
217
OPM %
12%
18%
22%
20%
16%
14%
18%
15%
17%
21%
19%
20%
23%
Other Income
8
6
8
9
31
18
22
25
32
53
55
48
43
Interest
0
0
0
0
0
0
0
0
1
1
1
1
1
Depreciation
5
6
5
6
7
7
12
12
12
12
15
21
23
PBT
45
62
81
81
89
64
80
91
129
184
183
199
237
Tax %
30%
32%
33%
32%
26%
22%
23%
27%
24%
25%
24%
26%
—
Net Profit
32
42
54
55
66
50
62
67
98
137
140
148
178
EPS (₹)
39.87
52.68
68.73
69.48
82.99
62.51
77.9
84.36
123
173
176
186
224
Div. Payout %
11%
9%
7%
6%
5%
8%
6%
6%
4%
3%
4%
4%
—

Balance Sheet

₹ Cr
500123 balance sheet, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Jun 2026
Equity Capital
8
8
8
8
8
8
8
8
8
8
8
8
8
Reserves
128
164
214
270
331
376
434
497
591
724
859
1,000
1,096
Borrowings
0
0
0
0
0
0
0
0
0
0
0
0
0
Other Liabilities
57
64
70
70
76
72
95
114
119
149
148
158
212
Total Liabilities
192
236
291
348
415
456
536
618
717
881
1,015
1,166
1,316
Fixed Assets
45
45
36
40
70
110
103
98
98
99
223
240
273
CWIP
1
0
5
15
0
10
18
19
13
17
19
8
14
Investments
30
64
109
139
174
160
218
261
356
517
379
592
642
Other Assets
116
126
140
154
171
176
198
240
250
247
395
326
387
Total Assets
192
236
291
348
415
456
536
618
717
881
1,015
1,166
1,316

Cash Flow

₹ Cr
500123 cash flow, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating
31
46
56
51
33
48
79
29
83
133
63
127
Investing
19
−42
−51
−45
−32
−40
−69
−33
−76
−132
78
−194
Financing
−51
−4
−5
−5
−4
−5
−4
−4
−5
−5
−5
−6
Net Cash Flow
−2
0
0
2
−3
4
6
−8
2
−3
136
−74
Free Cash Flow
27
40
51
31
10
36
63
37
86
121
−82
96
CFO/EBITDA
107
107
104
96
80
118
136
60
103
120
71
97

Ratios

500123 financial ratios, annual
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Debtor Days
53
59
53
70
75
57
67
61
58
55
62
60
Inventory Days
84
85
100
75
74
77
89
95
73
68
78
71
Days Payable
55
64
73
73
71
56
103
86
67
81
76
61
Cash Conversion Cycle
82
80
80
71
78
77
54
70
64
41
64
70
Working Capital Days
58
55
55
62
69
59
46
57
48
33
56
56
ROCE %
35%
40%
41%
33%
23%
18%
19%
17%
22%
28%
23%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Elantas Beck insights

29 extracted metrics across FY14–FY26.

Shareholding Pattern

As of Sep 2026

  • Promoters 75.00%
  • DIIs 12.53%
  • Public 9.21%
  • Others 3.21%
  • FIIs 0.05%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Elantas Beck India

What does Elantas Beck India Ltd do?
Elantas Beck India Ltd (EBIL) manufactures specialty insulation and protective materials: wire enamels, varnishes/resins, casting/potting compounds, PCB-protection systems and engineering/construction materials. It has plants at Pimpri and Ankleshwar and is 75%-owned by Germany's ELANTAS GmbH.
Where is Elantas Beck India Ltd (ELANTAS) listed?
Elantas Beck India Ltd trades as ELANTAS on the NSE and under code 500123 on the BSE.
Which sector does Elantas Beck India Ltd belong to?
Elantas Beck India Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the PE ratio of Elantas Beck India Ltd?
Elantas Beck India Ltd trades at a PE ratio of 57.13 as of 4 Nov 2026, on earnings per share of ₹223.98, against a book value of ₹1,392.52 per share.
What is the 52-week high and low of Elantas Beck India Ltd?
Over the last 52 weeks Elantas Beck India Ltd has traded between ₹7,111 and ₹15,150 as of 4 Nov 2026.
Does Elantas Beck India Ltd pay dividends?
Elantas Beck India Ltd has a dividend yield of 0.06%.
What is the Return on Equity (ROE) of Elantas Beck India Ltd?
Elantas Beck India Ltd reported a return on equity of 15.70%. Its debt-to-equity ratio is 0.00.

Company Information

Elantas Beck India Ltd (EBIL) manufactures specialty insulation and protective materials: wire enamels, varnishes/resins, casting/potting compounds, PCB-protection systems and engineering/construction materials. It has plants at Pimpri and Ankleshwar and is 75%-owned by Germany's ELANTAS GmbH.

Website elantas.com/beck-india.html
Listed 20 Apr 2026
Face Value ₹10

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