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RECOMMENDATION

Strong Buy

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RATING

RECOMMENDATION

Strong Buy

Business Type

Traditional Business

  • Elofic Industries Unlisted Shares Essentials

Discover and get complete analysis on Elofic upcoming IPO unlisted shares - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and latest updates.

ISIN

INE02YY01015

Face Value

₹10.00

Total Share

25,08,370

Total Income

₹22,951.83 L

Profile After Tax

₹1,736.04 L

Promoter Holding

₹93.22 %

EPS

₹69.21

Intrinsic Value

₹571.81

Sector

Miscellaneous

Sub-sector

Auto Ancillaries

Category

Upcoming IPO

Cashflow - Operations

₹2,954.40 L

Cashflow - Financing

-₹1,594.85 L

Elofic Industries Growth

Compounded Sales Growth

  • -1.31%

    1 Year

  • 6.72%

    3 Year

  • 7.46%

    4 Year

Pro Only

Compounded Profit Growth

  • -14.71%

    1 Year

  • 43.46%

    3 Year

  • 36.34%

    4 Year

Pro Only

Return On Equity

  • 17.44%

    1 Year

  • 18.01%

    3 Year

  • 10.02%

    4 Year

Pro Only

About Elofic Industries

Overview: 

  • Elofic industries limited was incorporated on 2nd June 1973. The company is engaged in manufacturing and supplying of automobile filters and lubes.
  • Elofic has a range of oil filter, air filter, fuel filter and hydraulic filter, and lubricants.
  • The company has six manufacturing units located in Faridabad, Noida, Hosur and Nalagarh with a production capacity of 110 million pcs per annum.
  • Mr. Mohan Bir Sahni is the chairman cum managing director and Mr. Kanwal Deep Sahani is the vice chairman cum joint managing director.
  • It has a distribution network of 1,400 Distributors, and 55,000 Dealers who are backed by 6 regional warehouses.


Key client base:

  • Elofic is trusted name among Indian and international automobile players. 
  • Some of the prominent names are TATA Motors, Volvo Eicher, Maruti Suzuki, Mahindra and Mahindra, Renault Nissan, Kawasaki Motors, Wabco, Kohler and many more.


Key facts:

  • It has recorded a total revenue of INR 226.8 Cr and INR 35.4 Cr of EBITDA in FY 20. 
  • The profit margins have consistently improved from FY17-FY19.

  • Elofic Industries IPO Details

Upcoming IPO

  • Elofic Industries Subsidiaries

  • Elofic industries limited established its first overseas arm Elofic USA LLC and first offshore warehouse in Milwaukee, WI, USA in 2002.
  • Elofic USA LLC is wholly owned subsidiary of Elofic industries ltd.
  • Elofic Industries Revenue Segmentation

  • OEM Supplies
  • Exports
  • Aftermarket
  • Elofic Industries Product & Services

Automobile filters and Lubes

Elofic Industries Awards & Achievements

Introduction

  • The Indian auto-components industry has experienced healthy growth over the last few years. The auto-components industry expanded by a CAGR of 6% over FY16 to FY20 to reach US$ 49.3 billion in FY20.
  • Auto-components industry account for 2.3% of India’s gross domestic product (GDP) and employs as many as 1.5 million people directly and indirectly
  • A stable government framework, increased purchasing power, large domestic market, and an ever-increasing development in infrastructure have made India a favorable destination for investment.


Market overview

  • The auto ancillary market was valued at INR 361578 Cr in FY2020 and is expected to reach INR 6,72,657 Cr by FY 2025, expanding at a CAGR of 15.35% during the FY 2021–FY 2025 period.
  • The market accounts for about 2.3% of India’s GDP and employs around 15 lakh people directly and indirectly.
  • Reduction in excise duties in the motor vehicles sector is expected to propel the demand for auto ancillary products.
  • Both domestic and export markets are almost similar in terms of market share breakup. Engine and Exhaust components along with body and structural parts make up nearly 50% of the potential domestic sales as well as exports. Transmission and steering parts, and electronics and electrical equipment are the other key products
  • India is emerging as global hub for auto component sourcing. A cost-effective manufacturing base keeps costs lower by 10-25% relative to operations in Europe and Latin America. Relative to Chinese suppliers, India is also geographically closer to key automotive markets like the Middle East and Europe
  • Government initiatives: 
  • To develop India into a manufacturing hub of auto mobiles and auto components, the Government of India has allocated INR 570 Bn under the production-linked incentive (PLI) scheme
  • The PLI scheme, introduced in November 2020, is expected to attract additional investments in the auto ancillary sector from domestic and foreign investors.
  • Government has come out with Automotive Mission Plan (AMP) 2016-26 which will help the automotive industry to grow and will benefit Indian economy in the following ways:
  • Contribution of auto industry in the country’s GDP will rise to over 12%.
  • Around 65 million incremental number of direct and indirect jobs will be created.
  • End of life policy will be implemented for old vehicles.

Elofic Industries Strengths

  • Operating Profits of the company have been increasing with a CAGR of 27.5% from 2016 to 2020.
  • Profit after tax of the company has been increasing with a CAGR of 36.3% from 2016 to 2020.
  • Strong liquidity and solvency position.
  • It has a distribution network of 1,400 Distributors, and 55,000 Dealers who are backed by 6 regional warehouses.
  • Elofic is trusted name among Indian and international automobile players. 
  • Some of the prominent names are TATA Motors, Volvo Eicher, Maruti Suzuki, Mahindra and Mahindra, Renault Nissan, Kawasaki Motors, Wabco, Kohler and many more.

Elofic Industries Shortcomings

  • Though the profit margins have increased for the company, the growth of revenue remains below the expectations.
  • The company is unable to covert its inventory into sales effectively when compared to its peers.

Elofic Industries Opportunities

  • In the post pandemic scenario, Original equipment manufacturers (OEMs) are expected to drive consolidation in the auto ancillary market of tier I cities, as well as propel important global suppliers to strengthen local presence.
  • The distributors of auto ancillary products are expected to de-risk their sourcing base. Indian auto ancillary players are expected to leverage technology tie-ups to compete in the international market
  • The aftermarket is likely to remain relatively insulated, resulting in increased focus toward the auto ancillary after market by auto components suppliers until the OEM market recovers.
  • Favorable Government schemes are likely to increase the demand of auto industry.

Elofic Industries Threats

  • Over the financial years 2016-2020, the company has shown a Decelerated rate of growth in sales.
  • A high competition from both international and domestic competitors such as MAHLE, Minda industries, Rico Industries, JBM, WABCO, Motherson Sumi poses a threat to business.
Elofic Industries Rating

  • RECOMMENDATION

    Strong Buy

  • Elofic Industries Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

Registered Date

02/06/1973

Stock Exchange Ticker

Elo

Reg Office: 14/4, Mathura Road, Faridabad, Haryana, India – 121003

Website: http://www.elofic.com