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ELIN IPO

Elin Electronics Limited
Start Date20-12-2022
Application Timing10am-5pm
Price Range₹234 - ₹247
Min Qty60
Min. Investment₹14040
Listing DateNA
Close Date22-12-2022

About Elin Electronics Limited

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.

 

Why To Invest in Elin Electronics Limited

Leading Electronic Manufacturing Services provider with experience and expertise in various product verticals. Strong brand and product portfolio. The IPO proceeds will be used to repay debt and expand its facilities at Ghaziabad and Goa.

Strengths And Risks
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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.
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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.
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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.
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Vast Experience: : Elin was incepted in 1973 and have expanded their product portfolio and gained expertise in designing and manufacturing electronics products in India.
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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.
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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.
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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.
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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.
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Capital Intensive Business: : Elin operates in manufacturing industry that is capital intensive with high debt, interest costs and material risks..
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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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