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Elantas Beck India

(01-May-2025, 08:26 Hours IST)

Net sales (including other operating income) of Elantas Beck India has increased 16.73% to Rs 206.13 crore. Sales of Electrical Insulations segment has gone up 11.65% to Rs 169.09 crore (accounting for 82.01% of total sales). Sales of Engineering & Electronic Resins and segment has gone up 43.53% to Rs 37.10 crore (accounting for 17.99% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 2.67% to Rs 38.26 crore. PBIT of Electrical Insulations segment fell 6.33% to Rs 27.91 crore (accounting for 72.97% of total PBIT). PBIT of Engineering & Electronic Resins and segment rose 38.59% to Rs 10.34 crore (accounting for 27.03% of total PBIT).

PBIT margin of Electrical Insulations segment fell from 19.68% to 16.51%. PBIT margin of Engineering & Electronic Resins and segment fell from 28.87% to 27.88%. Overall PBIT margin fell from 21.02% to 18.55%.

Operating profit margin has declined from 21.27% to 19.59%, leading to 7.53% rise in operating profit to Rs 40.39 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.14% to 59.50%. Purchase of finished goods cost rose from 0.67% to 5.26%. Employee cost decreased from 5.93% to 5.66%. Other expenses fell from 11.13% to 10.68%.

Other income fell 43.05% to Rs 8.65 crore. PBIDT fell 7.03% to Rs 49.04 crore. Provision for interest fell 52.94% to Rs 0.08 crore.

PBDT fell 6.88% to Rs 48.96 crore. Provision for depreciation rose 50.32% to Rs 4.66 crore.

Profit before tax down 10.47% to Rs 44.30 crore. Provision for tax was expense of Rs 11.43 crore, compared to Rs 12.57 crore. Effective tax rate was 25.80% compared to 25.40%.

Profit after tax fell 10.95% to Rs 32.87 crore.

Promoters' stake was 75.00% as of 31 March 2025 ,compared to 75.00% as of 31 March 2024.

On March 6, 2019, the company was directed for closure of its operations (GPCB) due to a suspected groundwater contamination issue. The GPCB through its subsequent orders had granted temporary revocation of the closure order until July 23, 2025. The company has represented to the GPCB for a permanent revocation of the closure order and based on the remediation done the management expects a positive outcome.

Full year results analysis

Net sales (including other operating income) of Elantas Beck India has increased 10.09% to Rs 748.51 crore. Sales of Electrical Insulations segment has gone up 8.83% to Rs 628.32 crore (accounting for 83.62% of total sales). Sales of Engineering & Electronic Resins and segment has gone up 18.73% to Rs 123.08 crore (accounting for 16.38% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 1.10% to Rs 142.68 crore. PBIT of Electrical Insulations segment rose 0.21% to Rs 109.19 crore (accounting for 76.53% of total PBIT). PBIT of Engineering & Electronic Resins and segment rose 4.12% to Rs 33.49 crore (accounting for 23.47% of total PBIT).

PBIT margin of Electrical Insulations segment fell from 18.87% to 17.38%. PBIT margin of Engineering & Electronic Resins and segment fell from 31.03% to 27.21%. Overall PBIT margin fell from 20.72% to 18.99%.

Operating profit margin has declined from 21.05% to 19.29%, leading to 0.85% rise in operating profit to Rs 144.37 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 61.24% to 61.44%. Purchase of finished goods cost rose from 0.47% to 2.05%. Employee cost increased from 6.00% to 6.18%. Other expenses rose from 11.10% to 11.26%.

Other income up 3.44% to Rs 54.77 crore. PBIDT rose 1.55% to Rs 199.14 crore. Provision for interest up 15.79% to Rs 0.66 crore. Loan funds remained nil. Inventories rose to Rs 95.05 crore as of 31 December 2024 from Rs 73.24 crore as of 31 December 2023. Sundry debtors were higher at Rs 126.53 crore as of 31 December 2024 compared to Rs 102.03 crore as of 31 December 2023. Cash and bank balance rose to Rs 153.39 crore as of 31 December 2024 from Rs 57.03 crore as of 31 December 2023. Investments declined from Rs 517.14 crore as of 31 December 2023 to Rs 378.55 crore as of 31 December 2024.

PBDT rose 1.51% to Rs 198.48 crore. Provision for depreciation rose 26.30% to Rs 15.03 crore. Fixed assets increased to Rs 160.29 crore as of 31 December 2024 from Rs 82.57 crore as of 31 December 2023. Intangible assets increased from Rs 33.89 crore to Rs 81.68 crore.

Profit before tax down 0.10% to Rs 183.45 crore. Provision for tax was expense of Rs 43.89 crore, compared to Rs 46.33 crore. Effective tax rate was 23.92% compared to 25.23%.

Profit after tax rose 1.65% to Rs 139.56 crore.

Promoters' stake was 75.00% as of 31 December 2024 ,compared to 75.00% as of 31 December 2023 .

Cash flow from operating activities decreased to Rs 63.22 crore for year ended December 2024 from Rs 133.42 crore for year ended December 2023. Cash flow used in acquiring fixed assets during the year ended December 2024 stood at Rs 145.14 crore, compared to Rs 12.36 crore during the year ended December 2023.

The stock trades at Rs 9676

Elantas Beck India : Standalone Results
Particulars	2503 (03)	2403 (03)	Var.(%)	2412 (12)	2312 (12)	Var.(%)
Net Sales	206.13	176.58	17	748.51	679.89	10
OPM (%)	19.6	21.3		19.3	21.1
OP	40.39	37.56	8	144.37	143.15	1
Other Inc.	8.65	15.19	-43	54.77	52.95	3
PBIDT	49.04	52.75	-7	199.14	196.1	2
Interest	0.08	0.17	-53	0.66	0.57	16
PBDT	48.96	52.58	-7	198.48	195.53	2
Depreciation	4.66	3.1	50	15.03	11.9	26
PBT before EO	44.3	49.48	-10	183.45	183.63	0
EO Income	0	0	-	0	0	-
PBT after EO	44.3	49.48	-10	183.45	183.63	0
Taxation	11.43	12.57	-9	43.89	46.33	-5
PAT	32.87	36.91	-11	139.56	137.3	2
EPS (Rs)*	#	#		176.0	173.2
Notes
* EPS is on current equity of Rs 7.93 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Elantas Beck India : Standalone Segment Results
	% of (Total)	2503 (03)	2403 (03)	Var.(%)	% of (Total)	2412 (12)	2312 (12)	Var.(%)
Sales
Electrical Insulations	82	169.09	151.45	12	84	628.32	577.34	9
Engineering & Electronic Resins and	18	37.1	25.85	44	16	123.08	103.67	19
Total Reported Sales	100	206.19	177.3	16	100	751.4	681.01	10
Less: Inter segment revenues		0	0	-		0	0	-
Net Sales		206.19	177.3	16		751.4	681.01	10
PBIT
Electrical Insulations	73	27.91	29.8	-6	77	109.19	108.96	0
Engineering & Electronic Resins and	27	10.34	7.46	39	23	33.49	32.17	4
Total PBIT	100	38.26	37.26	3	100	142.68	141.13	1
Less : Interest		0.08	0.17	-54		0.66	0.57	15
Add: Other un-allcoable		6.12	12.38	-51		41.43	43.06	-4
PBT		44.29	49.47	-10		183.45	183.62	0

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