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Indian subsidiary of Germany's Altana Group making specialty resins and electrical insulation materials.
Indian subsidiary of Germany's Altana Group making specialty resins and electrical insulation materials.
Moat: narrow (process know-how, IP / patents). Parent Altana's specialty chemistry technology localized for India's electrical equipment manufacturers.
Headquarters: Mumbai, India · Founded: 1962 · Employees: 602
Size ELANTAS Beck India (ELANTAS.NS) is an India Materials company (Industrial Specialties) with a market value of $999M, the 591st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹11,926 on 6 Nov 2026.
Performance Over six months the shares gained 22.6%, against -21.4% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 18.9% over the last twelve months (peer median +6.0%); the operating margin is 21.0% (peer median 6.9%).
Valuation It trades at 9.6× enterprise value to sales against a peer median of 1.4× (2nd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 32% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.3 points above its cost of capital (11.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹9.86B | ₹8.48B | ₹7.49B | ₹6.80B | ₹6.45B |
| Revenue growth | — | +13% | +10% | +5% | — |
| Gross profit | ₹3.15B | ₹2.20B | ₹1.88B | ₹1.84B | ₹1.46B |
| EBITDA | ₹2.31B | ₹1.75B | ₹1.48B | ₹1.45B | ₹1.15B |
| Net income | ₹1.87B | ₹1.48B | ₹1.40B | ₹1.37B | ₹978M |
| Free cash flow | n/a | ₹1.00B | -₹710M | ₹1.23B | ₹771M |
| Capital expenditure | n/a | ₹309M | ₹1.45B | ₹124M | ₹74.3M |
| Total debt | n/a | ₹0 | ₹0 | ₹0 | ₹0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| ELANTAS Beck India ELANTAS.NS | $999M | +23% | +19% | 21% | 9.6× | 32.4% |
| Sumitomo Bakelite 4203.T | $3.31B | +15% | +15% | 13% | 1.1× | 6.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ELANTAS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.9% | -6.0% | 4th lowest of 21 |
| 6-month return | +22.6% | -21.4% | 3rd highest of 21 |
| Distance from 52-week high | -21.3% | -33.5% | 5th highest of 21 |
| Revenue growth (TTM) | +18.9% | +6.0% | 5th highest of 21 |
| Operating margin | 21.0% | 6.9% | 2nd highest of 21 |
| EV / Sales | 9.6× | 1.4× | 2nd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 32.4% | 7.6% | 2nd most demanding of 15 |
| Growth delivered (Del g) | +17.2% | +6.2% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | +15.2 pp | +2.1 pp | 3rd most demanding of 15 |
| ROIC minus cost of capital | +4.3 pp | -1.2 pp | 5th highest of 21 |
| EV / EBITDA | 40.9× | 9.5× | most expensive of 9 |
| Net debt / EBITDA | -2.9× | -0.7× | 4th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ELANTAS Beck India ELANTAS.NS | India | $999M | +23% | +19% | 21% | 9.6× | 32.4% | +17.2% |
| ZJMI Environmental Energy 603071.SS | China | $1.00B | -15% | -4% | 3% | 0.3× | n/a | n/a |
| Intco Recycling Resources 688087.SS | China | $1.01B | -25% | +29% | 12% | 2.3× | 0.5% | +15.8% |
| Morgan Advanced Materials MGAM.L | United Kingdom | $981M | +22% | -6% | 9% | 1.0× | 9.4% | +1.8% |
| Chugoku Marine Paints,Ltd 4617.T | Japan | $1.04B | +4% | +10% | 13% | 1.0× | 0.0% | +11.1% |
| SK Kaken 4628.T | Japan | $1.04B | +2% | +9% | 13% | 0.5× | -19.4% | +5.2% |
| Xinjiang Tianye 600075.SS | China | $1.04B | -41% | -10% | -3% | 1.1× | n/a | n/a |
| Nitta 5186.T | Japan | $1.05B | +36% | +5% | 7% | 1.4× | 10.6% | +3.1% |
| Guangdong Tloong Technology 300063.SZ | China | $946M | -26% | +21% | 2% | 0.8× | 25.0% | -6.6% |
| Jiangxi Guotai 603977.SS | China | $914M | -29% | +15% | 9% | 3.1× | n/a | n/a |
| Hainan Development Holdings Nanhai 002163.SZ | China | $892M | -44% | -9% | -3% | 2.3× | n/a | n/a |
| Mattr MATR.TO | Canada | $879M | +108% | +25% | 7% | 1.3× | 5.8% | +1.5% |
| Xinjiang Xuefeng Sci-Tech (Group) 603227.SS | China | $1.14B | -17% | -8% | 12% | 1.7× | -7.6% | +22.0% |
| TOCALO 3433.T | Japan | $864M | -26% | +6% | 23% | 2.3× | n/a | n/a |
| PCBL Chemical PCBL.NS | India | $1.16B | -8% | +6% | 8% | 1.8× | 27.6% | +25.1% |
| ZETTA 002256.SZ | China | $843M | -40% | +25% | -5% | 11.5× | n/a | n/a |
| Shenma Industry 600810.SS | China | $838M | -33% | -9% | 0% | 1.5× | 9.7% | +7.1% |
| Suzhou Xinguangyi Electronics 301687.SZ | China | $831M | -34% | +7% | 19% | 6.6× | 42.9% | +11.3% |
| Hubei Huitian New Materials 300041.SZ | China | $820M | -13% | +15% | 6% | 1.3× | 10.3% | +15.5% |
| Sinosteel Engineering & Technology 000928.SZ | China | $1.22B | -13% | +4% | 5% | 0.3× | -15.6% | -1.3% |
| Shandong Jinjing Science & Technology 600586.SS | China | $806M | -35% | -23% | -23% | 1.9× | 0.5% | -1.3% |