The smallcap company, which was a September addition to Kedia’s portfolio, reported a 59% fall in its September quarter profit after tax (PAT) to Rs 5.35 crore versus Rs 13 crore in the year-ago period. The PAT fell 63% quarter-on-quarter compared to Rs 14.48 crore in Q1FY26.
The company’s revenue from operations stood at Rs 33.23 crore, down 50% versus Rs 66.62 crore in the year-ago period. On a sequential basis, the drop was 51% against Rs 67.56 crore in Q1FY26.
The marquee investor Vijay Kedia picked up a stake worth Rs 11 crore in Eimco Elecon on Tuesday via a bulk deal. Over 57,400 shares were bought by his investment company, Kedia Securities Private Ltd for Rs 1906.71 apiece.
Eimco Elecon (India) is in the business of manufacturing and marketing equipment for underground and opencast mines. It was incorporated in 1974 and went public in 1992. Situated at Vallabh Vidyanagar, Anand, Gujarat, the company is spread over a stretch of 15 acres.
Kedia’s stake purchase comes following a significant correction in the stock, indicating a dip buying. The share price has eroded 34% in the past year and is currently down 77% from its 52-week peak of Rs 3,394.75.The stock is a multibagger with returns of 426% over a 3-year period, significantly outperforming benchmark indices Nifty and the BSE Sensex, whose returns stand at 45% and 41%, respectively in the same period.Shares of Eimco Elecon are currently trading below their 50-day and 200-day simple moving averages (SMAs) of Rs 2,148 and Rs 2,003, respectively, according to Trendlyne data.
Also read: Equity mutual fund inflows slide to Rs 30,422 cr, drop for 2nd straight month
The stock has been quite volatile, recording a 1-year beta of 1.4, the Trendlyne data revealed.
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