Started in the year in the 1973, Elofic Industries is engaged in manufacturing and supplying of automobile filters and lubes. Elofic is one of India’s largest filter manufacturing companies producing a complete range of filters and lubricants. With a legacy spanning over 67 years, a workforce of more than 600 professionals across six state-of-the-art manufacturing facilities in Faridabad (Haryana), Nalagarh (Himachal Pradesh), and Hosur (Tamil Nadu) in India and a global clientele consisting of Fortune 1000 blue-chip corporations
Elofic offers the following filtration and lubrication products: oil filters, air filters, fuel filters, hydraulic filters, coolants and lubricants, and grease.
Elofic Industries Highlights
1. Brand Leader in India.
2. 6 State of Art manufacturing plant at Faridabad, Nosur, Noida and Nalagarh.
3. Production capacity of 11 crores pieces every year.
4. In house R&D center.
5. Having 9 patents and 11 pending.
6. Most preferred OEM supplier.
7. Export worldwide US, Europe, Africa and Japan.
8. Strong 1400 Distributors and 55000 dealers in India.
5 Years Financial Performance
Particulars(in Cr.) |
Mar-16 |
Mar-17 |
Mar-18 |
Mar-19 |
Mar-20 |
Revenue |
181 |
200 |
217 |
230 |
225 |
COGS |
90 |
95 |
106 |
106 |
100 |
Stock in Trade |
19 |
16 |
16 |
17 |
1.8 |
Excise duty |
11 |
11 |
2.5 |
0 |
0 |
Changes in Inventory |
-1.38 |
0.46 |
-1.78 |
-1.38 |
5.45 |
Employee Cost |
25 |
26 |
30 |
35 |
36 |
Other Expense |
38 |
43 |
46 |
51 |
48 |
EBITDA |
16 |
21 |
30 |
36 |
33.75 |
OPM |
9% |
11% |
14% |
16% |
15.00% |
Other Income |
2 |
0.4 |
0.5 |
2.8 |
2.7 |
Interest Cost |
3 |
3 |
2 |
2 |
1 |
Depreciation |
9 |
10 |
9 |
10 |
9 |
Exceptional Item |
0 |
0.12 |
0.22 |
0 |
0 |
Profit before tax |
6.68 |
9.33 |
20 |
27 |
24 |
Tax |
1.67 |
3.33 |
7.64 |
7.19 |
5.55 |
Share of Associates |
0 |
0 |
0 |
0 |
0 |
Net Profit |
5 |
6 |
12 |
20 |
18 |
NPM |
3% |
3% |
6% |
9% |
8% |
Shares |
0.25 |
0.25 |
0.25 |
0.25 |
0.25 |
EPS in Rs |
20 |
24 |
48 |
81 |
70 |
During the year, the revenue has down by 5 Crores as compared to last year. The domestic sales remain same, however, the export sales are reduced. The main reason for the reduction in export sales is due to lockdown imposed due to COVID-19 in the last month of FY19-20.
Domestic Market Update
- The market share in 2W and 4W segment catering the OEM has increased in FY19-20.
- New OE and Institutional clients added in FY20.
- 11 New age filters have been added to the product range.
New Products Launches
In FY19-20, Elofic Industries has launched two models of Air Purifier i.e. GAVI suitable for 580 Sq.feet room and Kinnaur suitable for 328 Sq.feet considering very high level of pollution in Delhi-NCR. The Air Purifiers have got good demand from School, College, Hospitals and Hotels.
More detail can be accessed at
Link
Valuation
Currently, Elofic Industries is available at 1200 per share and with 25 Lakhs shares outstanding, the Mcap is 300 Crores. P/E is 17x.
Annual Report 2020