At around 2 pm, the stock was still down nearly 16 per cent, trading at ₹422.50, hitting a low of ₹415.30 on the BSE, reflecting continued investor concerns over the company’s financial performance.
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Elecon Engineering Company Ltd shares came under heavy selling pressure on Friday, plunging as much as 17 per cent after the company reported a sharp fall in quarterly earnings and announced the resignation of its chief financial officer due to personal reasons.
At around 2 pm, the stock was still down nearly 16 per cent, trading at ₹422.50, hitting a low of ₹415.30 on the BSE, reflecting continued investor concerns over the company’s financial performance.
The company reported a 33 per cent decline in standalone net profit for the December 2025 quarter at ₹61.89 crore, compared with ₹91.98 crore in the same period last year (December 2024). The steep drop in profitability weighed heavily on market sentiment, triggering a sell-off in the stock.
Meanwhile, its revenue from operations rose by 1.7 per cent to 454.16 crore in Q3FY26 against 446.32 crore in Q3FY25. EBITDA for the quarter under review declined over 23 per cent to 109.2 crore and the EBITD margin stood at 19.8 per cent.
According to Prayasvin B Patel, Chairman & Managing Director of Elecon Engineering Company, the order book as at December 31, 2025, stood at ₹ 1,372 crore.
The company’s material handling equipment (MHE) division sustained its growth trajectory, reporting revenue of ₹123 crore in Q3FY26, up 16.3 per cent y-o-y, with an EBIT margin of 20.2 per cent.
The gear division delivered a resilient performance, reporting revenue of ₹429 crore, up 1.3 per cnet y-o-y, with an EBIT margin of 18.2 per cent.
In addition, the board approved the resignation of Narasimhan Raghunathan as Chief Financial Officer, with effect from the close of business hours on January 31, 2026, due to personal reasons.
Published on January 9, 2026
