ELECON Engineering CFO Narasimhan Raghunathan Steps Down from Position

Elecon Engineering Company has announced that its Chief Financial Officer, Narasimhan Raghunathan, has stepped down from his position. The departure marks a significant change in the company's senior leadership team.

Leadership Transition

The resignation of Narasimhan Raghunathan represents a key executive transition for the capital goods manufacturer. As CFO, Raghunathan was responsible for overseeing the company's financial operations and strategic financial planning.

Company Profile

ELECON Engineering Company operates in the capital goods sector, specifically focusing on non-electrical equipment manufacturing. The company is classified as a mid-cap entity in the Indian stock market, reflecting its established position in the industrial equipment space.

Corporate Details:	Information
Sector:	Capital Goods-Non Electrical Equipment
Market Classification:	Mid Cap
Key Position Change:	Chief Financial Officer

The company has not provided additional details regarding the circumstances of the resignation or the timeline for appointing a successor to the CFO position. This leadership change comes as part of the ongoing evolution of the company's executive management structure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-15.85%	-11.89%	-10.47%	-33.85%	-30.08%	+1,590.82%

Elecon Engineering Company announced its Q3FY26 financial results with consolidated revenue of ₹552.00 crores, marking a growth of 4.30% year-on-year. However, the capital goods manufacturer faced significant margin pressures with EBITDA declining 23.40% and profitability metrics under strain despite modest revenue expansion.

Consolidated Financial Performance

The company's Q3FY26 results demonstrated contrasting performance between revenue growth and profitability metrics. While revenue expanded modestly, both EBITDA and net profit experienced substantial declines during the quarter.

Financial Metric:	Q3FY26	Q3FY25	Change (%)
Revenue:	₹552.00 crores	₹529.00 crores	+4.30%
EBITDA:	₹109.00 crores	₹143.00 crores	-23.40%
EBITDA Margin:	19.80%	27.00%	-720 bps
Net Profit (PAT):	₹72.00 crores	₹108.00 crores	-33.10%
PAT Margin:	13.00%	20.30%	-730 bps

Segment-wise Performance Analysis

The company's two main divisions showed divergent performance trends during Q3FY26. The Gear division maintained flat growth while the Material Handling Equipment (MHE) division demonstrated stronger momentum.

Gear Division Results

Parameter:	Q3FY26	Q3FY25	Change (%)
Revenue:	₹429.00 crores	₹423.00 crores	+1.30%
EBIT:	₹78.00 crores	₹118.00 crores	-33.60%
EBIT Margin:	18.20%	27.80%	-960 bps

MHE Division Performance

Parameter:	Q3FY26	Q3FY25	Change (%)
Revenue:	₹123.00 crores	₹105.00 crores	+16.30%
EBIT:	₹25.00 crores	₹33.00 crores	-24.00%
EBIT Margin:	20.20%	30.90%	-1070 bps

Geographic Revenue Distribution

The company maintained its revenue mix between domestic and overseas markets during Q3FY26. Domestic revenue contributed ₹421.00 crores (76%) while overseas revenue accounted for ₹131.00 crores (24%), maintaining the same proportion as the previous year.

Order Book and Business Outlook

Despite the challenging quarterly performance, Elecon Engineering reported strong order intake of ₹701.00 crores for Q3FY26. The company's order book as of December 31, 2025, stood at ₹1,372.00 crores, providing good visibility for future revenue execution.

Management Commentary

Chairman & Managing Director Prayasvin B. Patel highlighted the company's market leadership position in Industrial Gear Solutions and Material Handling Equipment. He emphasized the strategic objective of generating 50% of consolidated revenue from international markets by FY30, supported by strengthening relationships with global OEMs and continued brand-building initiatives across multiple geographies.