---
title: "Classic Electrodes (India) Ltd (CLASSICEIL) — Share Price, Financials & Analysis"
symbol: "CLASSICEIL"
company: "Classic Electrodes (India) Ltd"
canonical: "https://tapetide.com/stocks/CLASSICEIL"
isin: "INE0UQ601012"
nse_symbol: "CLASSICEIL"
sector: "Industrial Products"
industry: "Other Industrial Products"
market_cap_cr: 106.17
generated_at: "2026-09-13T18:19:55.792Z"
---

# Classic Electrodes (India) Ltd (CLASSICEIL)

Canonical page: https://tapetide.com/stocks/CLASSICEIL

## Company

- **NSE Symbol:** CLASSICEIL
- **ISIN:** INE0UQ601012
- **Sector:** Industrial Products
- **Industry:** Other Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2025-09-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** classicelectrodes.com

## About

Established in 1997, Classic Electrodes (India) Limited is a prominent Indian manufacturer specialising in welding consumables, including electrodes and MIG wires.[1]

## Latest Price

- **Price:** ₹56.25
- **Change:** -2.85 (-4.82%)
- **Open:** ₹60
- **Day High:** ₹60.1
- **Day Low:** ₹56.15
- **Previous Close:** ₹59.1
- **Volume:** 57600
- **As Of:** 2026-09-11T10:01:42+00:00

## Key Fundamentals

Observed at 2026-09-11T04:43:31.138851Z.

- **Market Cap:** ₹106.17 Cr
- **Classification:** SME
- **P/E (reported):** 8.4
- **Book Value:** ₹52.99
- **Price to Book:** 1.12
- **Dividend Yield:** 0%
- **ROE:** 25.7%
- **ROCE:** 41.65%
- **Debt to Equity:** 0.21
- **Revenue (yearly):** ₹242.97 Cr
- **Net Income:** ₹12.77 Cr
- **EBITDA:** ₹22.58 Cr
- **52-Week High:** ₹113.9
- **52-Week Low:** ₹34.75
- **RSI (14):** 59.79

## Tapetide Score

- **Score:** 58 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Rising
- **Percentile:** 81.3 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 66.88 | 9% |
| growth | 64.73 | 9% |
| momentum | 74.24 | 12% |
| ownership | 49.12 | 24% |
| quality | 66.49 | 22% |
| valuation | 70.47 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Stock is trading at 1.06 times its book value
- Company has delivered good profit growth of 59.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.6%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -1.42%
- Working capital days have increased from 56.9 days to 84.9 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 512.1% | 165.38% | -0.78% |
| ebitda margin growth | -14.43% | -11.48% | 60.31% |
| net income growth | 10.09% | 83% | 59% |
| revenue growth | 17.89% | 17% | 22% |
| roce | 8.24% | -18.92% | 35.14% |
| roe | 17.08% | 25.37% | 245.9% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 100 | 106 | 100 | 122 | 121 |
| Expenses | 89 | 95 | 89 | 111 | 109 |
| Operating Profit | 11 | 10 | 11 | 11 | 12 |
| OPM % | 11 | 10 | 11 | 9 | 10 |
| Other Income | 2 | 0 | 0 | 1 | 0 |
| Interest | 3 | 2 | 3 | 2 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 9 | 8 | 7 | 8 | 9 |
| Tax % | 35 | 19 | 25 | 23 | 28 |
| Net Profit | 6 | 6 | 5 | 6 | 6 |
| EPS in Rs | 10.54 | 4.65 | 4.16 | 3.61 | 3.45 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 11m | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 83 | 90 | 134 | 151 | 194 | 188 | 206 | 243 |
| Expenses | 78 | 85 | 128 | 142 | 173 | 168 | 184 | 220 |
| Operating Profit | 6 | 5 | 6 | 8 | 21 | 19 | 22 | 23 |
| OPM % | 7 | 5 | 4.4 | 6 | 11 | 10 | 11 | 9 |
| Other Income | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 4 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 |
| Profit before tax | 2 | 2 | 2 | 3 | 15 | 13 | 15 | 17 |
| Tax % | 25 | 25 | 27 | 25 | 34 | 26 | 22 | 26 |
| Net Profit | 2 | 1 | 1 | 2 | 10 | 10 | 12 | 13 |
| EPS in Rs | 3.35 | 2.33 | 2.75 | 3.94 | 18.11 | 7.25 | 8.81 | 7.04 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 13 | 13 | 18 |
| Reserves | 14 | 15 | 14 | 16 | 28 | 30 | 32 | 77 |
| Borrowings | 9 | 19 | 39 | 43 | 46 | 54 | 54 | 20 |
| Other Liabilities | 26 | 21 | 16 | 12 | 13 | 19 | 16 | 19 |
| Total Liabilities | 54 | 60 | 75 | 77 | 92 | 116 | 115 | 134 |
| Fixed Assets | 12 | 15 | 13 | 17 | 16 | 17 | 17 | 31 |
| CWIP | 0 | 0 | 4 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 2 |
| Other Assets | 41 | 44 | 58 | 60 | 76 | 99 | 98 | 101 |
| Total Assets | 54 | 60 | 75 | 77 | 92 | 116 | 115 | 134 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 3 | -4 | 8 | 2 | 3 | 1 | 8 | 19 |
| Cash from Investing Activity | -1 | -4 | -4 | -2 | -1 | -3 | -11 | -15 |
| Cash from Financing Activity | -1 | 8 | -4 | 0 | -2 | 2 | 4 | -1 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Free Cash Flow | 1 | -8 | 3 | 0 | 2 | -2 | 4 | 2 |
| CFO/OP | 53 | -72 | 139 | 25 | 18 | 16 | 52 | 81 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Feb 2025 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 102 | 83 | 75 | 80 | 64 | 96 | 75 | 72 |
| Inventory Days | 54 | 85 | 67 | 58 | 75 | 91 | 86 | 69 |
| Days Payable | 34 | 13 | 33 | 16 | 12 | 33 | 19 | 18 |
| Cash Conversion Cycle | 122 | 155 | 109 | 122 | 127 | 154 | 142 | 122 |
| Working Capital Days | 37 | 77 | 14 | 15 | 35 | 50 | 50 | 85 |
| ROCE % | — | 12 | 10 | 10 | 29 | 22 | 22 | 19 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2025 | Mar 2026 |
| --- | --- | --- |
| Promoters | 73.44% | 72.02% |
| FIIs | 7.64% | 5.62% |
| DIIs | 6.72% | 4.5% |
| Government | 0% | 0% |
| Public | 10.2% | 14.25% |
| Others | 2.01% | 3.61% |
| No. of Shareholders | 432 | 548 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 10 / 7 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 55.83 | Buy |
| EMA (10) | 56.09 | Buy |
| SMA (20) | 53.13 | Buy |
| EMA (20) | 54.85 | Buy |
| SMA (50) | 54.3 | Buy |
| EMA (50) | 53.51 | Buy |
| SMA (100) | 52.32 | Buy |
| EMA (100) | 53.97 | Buy |
| SMA (200) | 57.05 | Sell |
| EMA (200) | 61.7 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 53.61 | Neutral |
| MACD (12,26,9) | 1.29 | Buy |
| Stochastic (14,3,3) | 71.61 | Neutral |
| ADX (14) | 22.61 | Neutral |
| Williams %R (14) | -46.47 | Neutral |
| ATR (14) | 3.45 | High Volatility |
| ROC (12) | 1.81 | Buy |
| Stoch RSI (14) | 34.05 | Neutral |
| UO (7,14,28) | 43.77 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 April 2026 - Board approved MOA change to add rail clips, wires, cables; EGM on 5 May 2026. | [Outcome of Board Meeting 9 April 2026 - Board approved MOA change to add rail clips, wires, cables; EGM on 5 May 2026.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_09042026165727_BM_Outcome_S.pdf) |
| 8 Jul - Company clarifies financial results were duly signed and segment reporting is inapplicable. | [Reply to Clarification- Financial results 8 Jul - Company clarifies financial results were duly signed and segment reporting is inapplicable.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_18062026164300_QueryReplyLetter.pdf) |
| 7 Sep - Newspaper ads published for Classic Electrodes' 29th AGM notice, e-voting details and cut-off date. | [Copy of Newspaper Publication 7 Sep - Newspaper ads published for Classic Electrodes' 29th AGM notice, e-voting details and cut-off date.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_07092026122715_Newspaper_Adv_F.pdf) |
| 6 Sep - 29th AGM on 28 Sept 2026; approves financials, director appointment, cost auditor, and ₹50 crore related-party transactions. | [Shareholders meeting 6 Sep - 29th AGM on 28 Sept 2026; approves financials, director appointment, cost auditor, and ₹50 crore related-party transactions.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_06092026140858_AGM_Notice_F.pdf) |
| 6 May 2026 - EGM voting results filed for May 5, 2026; special resolution to alter object clause passed. | [Shareholders meeting 6 May 2026 - EGM voting results filed for May 5, 2026; special resolution to alter object clause passed.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_06052026153307_VOTING_RESULT_DSC.pdf) |
| 6 May 2026 - Company submitted scrutinizer’s report and voting results for the May 5, 2026 EGM. | [Shareholders meeting 6 May 2026 - Company submitted scrutinizer’s report and voting results for the May 5, 2026 EGM.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_06052026153113_Scrutinizer_Report_DSC.pdf) |
| 6 March 2026 - Analyst/institutional investor meeting on 06 Mar 2026, virtual 12:00–13:00; no UPSI. | [Analysts/Institutional Investor Meet/Con. Call Updates 6 March 2026 - Analyst/institutional investor meeting on 06 Mar 2026, virtual 12:00–13:00; no UPSI.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_06032026151604_CLASSIC_Outcome_of_Investor_Meeting.pdf) |
| 6 Aug - Q1 FY27 revenue rose 10.01% to ₹58 crore; June sales were strongest at ₹20.96 crore. | [General Updates 6 Aug - Q1 FY27 revenue rose 10.01% to ₹58 crore; June sales were strongest at ₹20.96 crore.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_06082026124347_Businee_update_F_Q1FY27.pdf) |
| 5 Sep - Board approved cost auditor, annual report, and AGM on 28 September 2026. | [Outcome of Board Meeting 5 Sep - Board approved cost auditor, annual report, and AGM on 28 September 2026.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_05092026194231_BM_Outcome.pdf) |
| 5 May 2026 - EGM on 5 May 2026 approved main object clause expansion into wires, conductors and metal products. | [Shareholders meeting 5 May 2026 - EGM on 5 May 2026 approved main object clause expansion into wires, conductors and metal products.](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_05052026143419_Proceeding_of_EGM_DSC.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31642_CLASSICEIL_2025_2026_A_4995413_06092026142006.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28976_CLASSICEIL_2024_2025_A_1642732_08092025214100.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/CLASSICELECTRODES_22112025161540_Transcript_Final_Signed.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:19:55.792Z.