Elofic Industries Ltd has become India’s largest exporter and OEM supplier of car filters, with an annual production capacity of 110 million filters. Elofic, which was founded in 1951 and has a permanent research centre in Faridabad, holds nine patents, and employs 1200 people, is an R&D-driven corporation. During the last five years, the company’s revenues and net profit have constantly increased, and the company has nearly zero debt.
The company is spending heavily in a 25% capacity increase in Hosur, Tamil Nadu, and is searching for greenfield development opportunities in Gujarat. In the next five years, the company wants to treble its revenue to Rs 600 crores.
Elofic’s business is constantly de-risked by diversifying into the air-purifier sector.
Elofic is India’s leading vehicle filter maker. Elofic also produces lubricants and vehicle coolants. Faridabad, Hosur, Noida, and Nalagarh are among the company’s six state-of-the-art manufacturing sites in India. Elofic is a fully integrated company that produces everything from children’s and plastic parts to sheet metal, paper induction, and string production.
To promote its products, Elofic has built a massive network of 7 warehouses, 1400 distributors, and 55,000 dealers. Tata Motors, Maruti Suzuki, Royal Enfield, Renault Nissan, Mahindra & Mahindra, and New Holland Tractors are among its OEM customers in India.
Elofic exported products worth Rs. 100 crores in FY 2020-21. In the United States, Elofic has one wholly-owned foreign subsidiary.
Products
- Automotive Oil filters
- Lubricants & Grease
- Coolants
- Diesel Exhaust Fluid (DEF)
- Air Purifiers
Registered Address
The company’s registered office is located at 14/4 Mathura Road, Faridabad, Haryana, India.
| Symbol | Elofic Industries Ltd. |
|---|---|
| Face Value (₹): | 10 |
| ISIN: | INE02YY01015 |
| Demat Status: | NSDL |
| Lot Size: | 10 |
| Pre IPO Share price | 2492 / INR |
Board of Directors
| Name | Designation | Profile |
|---|---|---|
| Prem Arora | Director |  |
| Kanwal Deep Sahni | Wholetime Director |  |
| Mohan Bir Sahni | Wholetime Director | |
| Subodh Kumar Jain | Director | |
| Jatinder Singh Bedi | Wholetime Director | |
Highlights from the Business
1-Elofic Industries is India’s leading automotive filter maker, exporter, and OEM supplier. Elofic is a research-based firm with backward and forward connections.
2-Diversified business with continually increasing exports [100 crores in FY 2020-21].
3-A debt-free business with rising sales and profits.
4-Elofic has also entered the lucrative air-purification market.
5- Elofic constantly paid out dividends to its shareholders.
Financial Highlights
| Particulars | 2020-21 | 2019-20 | 2018-19 | 2017-18 |
|---|---|---|---|---|
| Total Income (₹ Crores) | 262.46 | 228 | 232.57 | 215.69 |
| PAT/(Loss) (₹ Crores) | 24.92 | 17.36 | 20.35 | 11.98 |
| Diluted EPS (₹) | 99.37 | 69.21 | 81.2 | 47.8 |
| Book Value per Share (₹) | 529 | 432 | 364 | 282 |
| Equity (₹ Crores) | 132.27 | 108.02 | 91.10 | 70.50 |
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Peer Comparison
Elofic Industries is India’s leading vehicle filter maker. Denso Corporation, Mahle GmbH, Mann+Hummel, Cummins, and Parker Hannifin Corporation dominate the global automotive filter market. It competes with the following private and unlisted enterprises in India:
- Fleetguard Filters Pvt. Ltd.
- MAHLE Filter Systems (India) Pvt. Ltd.
- Roki Minda Co. Pvt. Ltd.
- Luman Automotive Systems Pvt. Ltd
- Donaldson India Filter Systems Pvt. Ltd.
- Mann & Hummel Filter Pvt. Ltd.
- Bosch Ltd.
- Minda Automotive Solutions Ltd.
- Durga Filters Pvt. Ltd.
Media Updates
“Elofic Aims to Double Sales In Five Years”
Despite the pandemic-induced lockdown, Elofic Industries had a 20% increase in shipments from the previous year. Export sales increased from 30% to 38% of total revenue.
Elofic Industries, based in Faridabad, has reemphasized its focus to aggressively concentrate on its main business – filters, as it celebrates its 70th anniversary.
As it seeks new growth opportunities, the company is exploring acquiring filter makers in other parts of the world and expanding manufacturing capacity to satisfy rising demand. The company, which was founded in 1951, presently serves practically all of India’s automobile manufacturers, as well as a handful from other countries. Furthermore, it is a major player in the Indian aftermarket as well as a few international markets.