Elantas Beck India Limited (ELANTAS)

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Elantas Beck India Limited (ELANTAS) · mywealthgrid

About

Elantas Beck India manufactures specialty chemicals within the broader chemicals & petrochemicals sector, with a market capitalization of ₹9,327.93 crore. The company operates at scale with quarterly revenues in the ₹175–206 crore range and sustains operating margins around 20%, underpinned by a debt-free balance sheet (D/E ratio 0). As a specialty-chemicals player, it serves niche industrial segments where formulation expertise and reliability command positioning.

Face value: ₹10

Market cap

₹10,644 Cr

P/E

78.5×

P/B

10.6×

Dividend yield

0.1%

ROE

15.8%

ROCE

20.6%

Debt / equity

OPM

20.3%

EPS (TTM)

₹170.9

Book value

₹1,271.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE multiple of 68.83 is elevated, pricing in significant future growth; earnings disappointment would expose material downside.
Operating margin compressed 550 basis points from 23.46% (Sep 2023) to 17.75% (Dec 2024), raising questions about cost control, pricing power, or product mix; verify root causes.
Quarterly EPS swung between 37.52 and 52.79 over the past year, with Mar 2025 recorded at 0, indicating earnings lumpiness; assess whether this reflects timing or operational instability.
Minimal foreign institutional ownership (0.05% FII) and concentrated promoter stake (75%) may limit liquidity and make the stock sensitive to promoter actions.

Generated analysis · source review pending

Growth drivers

Revenue grew 26% from ₹163.27 crore (Sep 2023) to ₹206.13 crore (Mar 2025); verify whether this pace is sustainable or cyclical.
Operating margins at annual 20.31% and recent quarters 17.75–21.27% retain room for leverage if cost pressures ease and the Sep 2023 peak of 23.46% is recovered.
Zero debt-to-equity ratio enables capacity expansion, R&D, or bolt-on acquisitions without balance-sheet strain, typical levers in chemical-industry consolidation.
Consistent dividend payouts across all recent years (2022–2026) signal stable cash generation and demonstrate confidence in earnings sustainability.

Generated analysis · source review pending

2,420 historical price candles were omitted because the exchange source has not been verified.

₹13,474.0-1.3%1Y

Quick read

rule-based

Pros

+High return on capital employed of 23.3%
+Healthy operating margin of 20.3%
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 390.3×
+High promoter holding of 75% with no pledge

Cons

−Modest revenue growth of 5.2% a year over the last 5 years
−Expensive at 78.5× trailing earnings
−Trading at 10.6× book value
−Low dividend payout of 4.4% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

33/100

Business quality: 69
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Dec 2022	Mar 2023	Dec 2023	Mar 2024	Dec 2024	Mar 2025	Dec 2025
	380	410	401	407	549	645	658	680	687	749	778	848
COGS	-236	-271	-258	-245	-372	430	-435	421	-424	472	-494	525
Gross profit	—	—	—	—	—	214	—	259	—	276	—	323
	542	619	604	572	838	104	973	115	962	132	1,125	151
Operating profit (EBITDA)	74	63	54	80	83	110	119	143	149	144	147	172
OPM %	19.5%	15.4%	13.6%	19.7%	15.1%	17.1%	18.1%	21.1%	21.6%	19.3%	18.9%	20.3%
Depreciation	6	7	9	12	12	12	12	12	12	15	17	21
Interest	0	—	—	—	—	1	0	1	1	1	1	1
	9	13	18	19	18	32	21	53	57	55	48	48
Profit before tax	96	69	64	88	98	129	138	184	193	183	178	199
Tax	27	20	13	21	25	31	34	46	49	44	43	51
Tax %	28.5%	28.8%	20.4%	24.2%	26%	24.3%	24.7%	25.2%	25.2%	23.9%	24%	25.6%
	69	49	51	67	72	98	104	137	144	140	136	148
PAT margin %	18.1%	12%	12.7%	16.4%	13.2%	15.2%	15.8%	20.2%	21%	18.7%	17.4%	17.4%
EPS (₹)	86.8	62.1	64.3	84	91.4	123.3	131.3	173.2	181.8	176.1	129.5	186.4
EPS adjusted (₹)	—	—	—	—	—	123.3	—	173.1	—	176	—	186.4
	5.2%	7.2%	7.8%	6%	5.5%	4.1%	3.8%	2.9%	2.7%	4.3%	5.8%	4%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Dec 2022	Annual report for Mar 2023	Annual report for Dec 2023	Annual report for Mar 2024	Annual report for Dec 2024	Annual report for Mar 2025	Annual report for Dec 2025

₹ Cr	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Equity capital	8	8	8	8	8
Reserves	—	591	724	859	1,000
	—	0	0	0	0
	—	119	149	148	158
Total equity & liabilities	—	717	881	1,015	1,166
	92	94	95	219	235
CWIP	—	13	10	10	8
Investments	—	361	522	383	597
	—	250	254	404	326
Total assets	—	717	881	1,015	1,166

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Dec 2022	Dec 2023	Dec 2024	Dec 2025
	56	51	33	48	83	133	63	127
	-51	-45	-32	-40	-76	-132	78	-194
	-5	-5	-4	-5	-5	-5	-5	-6
Net cash flow	0	2	-3	4	2	-3	136	-74
Free cash flow	51	—	—	—	-127	-67	-82	96
CFO / Operating profit %	—	—	44.5%	76%	75.3%	93.2%	43.8%	73.8%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2022	Dec 2022	Mar 2023	Dec 2023	Mar 2024	Dec 2024	Mar 2025	Dec 2025
Margins
Gross margin %	—	33.2%	—	38%	—	36.9%	—	38.1%
EBITDA margin %	15.1%	17.1%	18.1%	21.1%	21.6%	19.3%	18.9%	20.3%
EBIT margin %	12.9%	15.2%	16.3%	19.3%	19.8%	17.3%	16.8%	17.8%
PAT margin %	13.2%	15.2%	15.8%	20.2%	21%	18.7%	17.4%	17.4%
Working capital
Receivable days	—	58	—	55	—	62	—	60
Inventory days	—	68	—	63	—	73	—	68
Payable days	—	62	—	76	—	71	—	58
NWC days	—	63	—	42	—	64	—	70
Leverage
Current ratio	—	5.69	—	6.12	—	6.26	—	7.47
Debt to EBITDA	—	0	—	0	—	0	—	0
Debt to equity	—	0	—	0	—	0	—	0
Interest coverage	—	192	320	323.1	311.8	279	313.7	390.3
Asset turnover	—	0.9	—	0.77	—	0.74	—	0.73
Return ratios
Return on assets %	—	13.6%	—	15.6%	—	13.7%	—	12.7%
Return on capital employed %	—	19.4%	—	24.3%	—	20.6%	—	19.1%
Return on equity %	—	16.3%	—	18.8%	—	16.1%	—	14.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	0.74%	0.71%	0.7%	0.67%	0.67%	0.67%	0.51%	0.04%	0.04%	0.04%	0.04%	0.05%
	11.73%	11.79%	11.87%	11.9%	11.88%	11.71%	11.71%	12.17%	12.17%	12.21%	12.25%	12.28%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	12.53%	12.5%	12.43%	12.43%	12.45%	12.62%	12.78%	12.79%	12.79%	12.75%	12.71%	12.67%
No. of shareholders	—	—	—	—	—	—	—	—	8,892	9,062	9,307	9,155

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F&O

Current futures and options contracts with compact option-chain pages.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 4 fund houses

Held by these funds

12.55%

of the company's equity

All mutual funds

12.26%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

6 schemes · 4 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	6.78 L	786.36	0.95%	8.578%	+10,000
SMALL CAP FUND	Tata Mutual Fund	2.09 L	242.83	1.85%	2.649%	-0
LARGE & MID CAP FUND	Tata Mutual Fund	94,264	109.39	1.42%	1.193%	-0
Small Cap FundNEW	Bajaj Finserv Mutual Fund	9,878	11.46	0.43%	0.125%	—
Equity Savings Fund	Bajaj Finserv Mutual Fund	584	0.68	1.68%	0.007%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	6	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

4 announcementsExport CSV

4 Sept 2026, 11:20 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

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Ratio	Mar 2022	Dec 2022	Mar 2023	Dec 2023	Mar 2024	Dec 2024	Mar 2025	Dec 2025
Margins
Gross margin %	—	33.2%	—	38%	—	36.9%	—	38.1%
EBITDA margin %	15.1%	17.1%	18.1%	21.1%	21.6%	19.3%	18.9%	20.3%
EBIT margin %	12.9%	15.2%	16.3%	19.3%	19.8%	17.3%	16.8%	17.8%
PAT margin %	13.2%	15.2%	15.8%	20.2%	21%	18.7%	17.4%	17.4%
Working capital
Receivable days	—	58	—	55	—	62	—	60
Inventory days	—	68	—	63	—	73	—	68
Payable days	—	62	—	76	—	71	—	58
NWC days	—	63	—	42	—	64	—	70
Leverage
Current ratio	—	5.69	—	6.12	—	6.26	—	7.47
Debt to EBITDA	—	0	—	0	—	0	—	0
Debt to equity	—	0	—	0	—	0	—	0
Interest coverage	—	192	320	323.1	311.8	279	313.7	390.3
Asset turnover	—	0.9	—	0.77	—	0.74	—	0.73
Return ratios
Return on assets %	—	13.6%	—	15.6%	—	13.7%	—	12.7%
Return on capital employed %	—	19.4%	—	24.3%	—	20.6%	—	19.1%
Return on equity %	—	16.3%	—	18.8%	—	16.1%	—	14.7%

2 deals · 7 Dec 2022 – 7 Dec 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
7 Dec 2022	PINEBRIDGE INV ASIA LIMITED A/C PB GLOBAL FUNDS-PINEBRIDGE INDIA EQ FUND	Bulk	BSE	Sell	2,16,222	₹4,100.01	₹88.65 Cr
7 Dec 2022	NIPPON INDIA MUTUAL FUND	Bulk	BSE	Buy	2,15,359	₹4,100.00	₹88.30 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
4 Sept 2026, 11:20 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
17 Aug 2026, 4:11 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
21 Jul 2026, 10:40 am	Board Meeting	Board Meeting Intimation for Board Meeting Scheduled On Tuesday, 04Th August, 2026	PDF
8 Jul 2026, 1:50 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF

Elantas Beck India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

20

1

Compounded sales growth

Compounded profit growth

Return on equity

Elantas Beck India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Dividends20

Board meetings1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

20

1