Elin is a leading EMS (Electronics Manufacturing Services) manufacturer of end to end product solutions for major brands of lighting, fans, and small/ kitchen appliances in India, and one of the largest fractional horsepower motors manufacturers in India with a market share of 12 % in 2021.
Also, they are one of the key players in LED lighting and flashlight with EMS with 7% market share and 10.7% market share in small appliances EMSvertical.
Their key customers include:
LED lighting, fans and switches: Signify Innovations and Eveready
Small appliances: Philips, Bosch, Faber, Panasonic and Usha.
Fractional horsepower motors: Havells, Bosch, Faber, Panasonic, Preethi (owned by Philips), Groupe SEB (Maharaja brand) and Usha.
Medical diagnostic cartridges: Molbio Diagnostics Private Limited.
Moulded and sheet metal parts and components: Denso and IFB.
Strengths And Risks + Key Market Player: : Elin holds a 12% overall market share. It's a leading fractional horsepower motors manufacturer in India. In the LED lighting EMS market, it holds a 7% share.
+ Diversified Product Portfolio:: The company provides comprehensive solutions for global sourcing, fabrication of components and parts, captive manufacturing and assembly, quality testing and packaging and logistics support.
+ Leading Brands as Key Customers:: They provide solutions to leading global and Indian electronic brands e.g. Havell, Bosch, Usha, Faber,Panasonic, Maharaja, Philips, IFB, Denso etc.
+ Vast Experience: : Elin was incepted in 1973 and have expanded their product portfolio and gained expertise in designing and manufacturing electronics products in India.
+ Strong R&D Capabilities: : They have a centralized R&D centre at Ghaziabad, recognised by the DSIR, Government of India since 1992. The strong in-house R&D enables them to introduce new products, enhance existing products, and optimize costs.
- High Dependence on Few Key Customers:: Elin has certain key customers that contribute a large share to business. Any loss of relationship with them can affect revenues.
- Competition: : Electronics manufacturing is a competitive industry with China as a major threat. New trade policies or new players with cost or technical edge can take away their market share.
- Raw Material Costs: : Elin buys raw material from local and global units on purchase order basis. Any changes in raw material costs impacts their production cost, product pricing and customer.
- Capital Intensive Business: : Elin operates in manufacturing industry that is capital intensive with high debt, interest costs and material risks..
- Technical Know-how: : The business depends heavily on technical expertise and which co needs to protect with intellectual property and continuous innovation. Failure to do so can be a risk to its business.
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