Elpro

What Elpro does

Elpro International Ltd. is an India-based publicly listed company (ticker: ELPRO) headquartered in Mumbai, founded in 1962, with 501-1,000 employees. According to firmographic inputs, the company manufactures and distributes electrical surge protectors serving various industries, operating as a B2B industrial hardware supplier. The firm's product portfolio is anchored in surge protection devices sold to industrial customers, with revenue generated through product sales (one-time license revenue mechanics applied to physical product distribution).

Financially, Elpro reported FY26 sales of ₹528.14 crore with net profit of ₹87.37 crore, representing 32.16% YoY net profit growth. Quarterly momentum was strong: Q4 March 2026 consolidated net sales reached ₹185.44 crore (up 165.37% YoY), and standalone Q4 net sales were ₹59.67 crore (up 51.18% YoY). However, Q4 FY26 also showed a consolidated net loss of ₹91.97 crore, indicating margin or impairment pressure at the consolidated level even as topline accelerated. The company is publicly traded on Indian exchanges at ₹165.20 per share as of May 20, 2026, with a year-on-year stock price appreciation of 16,420%.

In June 2026, Elpro announced a strategic equity investment of ₹5 crore to acquire 2,31,215 shares of Greaves Cotton Limited, an industrial equipment manufacturer (compressors, pumps, diesel engines) with FY26 turnover of ₹3,486.61 crore. This transaction marks a notable diversification move beyond the core surge protection business into broader industrial equipment, disclosed under SEBI regulations. Pricing details, customer concentration, distribution channels, marketing approach, and core technology specifics are not disclosed in the available data, constraining deeper product-level analysis.

Name

Elpro

Legal name

Elpro International Ltd.

Website

https://elpro.co.in

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Elpro International Ltd. is a Mumbai-based Indian public company (founded 1962) that manufactures and distributes electrical surge protectors for various industries, with FY26 sales of ₹528.14 crore and a recent strategic equity investment into Greaves Cotton Limited.

Ownership category

akta.pro rank

Product category

Electrical Surge Protection

NAICS

Electrical Equipment Manufacturing (3353), Relay and Industrial Control Manufacturing (335314)

SIC

Electrical Industrial Apparatus (3620), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Circuit Protection Devices (MCBs, MCCBs, ACBs, fuses, RCD/GFCI, surge protection) (IMAGAEAB)

akta.pro secondary industries

TVS/ESD & Surge Protection Devices (HDAHAHAE), Surge Protectors & Power Strips (SPD) (HDACAJAB)

Keywords

• Electrical surge protection
• Industrial surge protectors
• Power protection devices
• Electrical safety equipment
• Voltage surge suppressors

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Product/Sales Revenue: Revenue generated from sales of goods and products, with FY26 annual sales of Rs 528.14 crore representing 165.37% year-over-year growth. Q4 March 2026 consolidated sales were Rs 185.44 crore, while standalone quarterly net sales reached Rs 59.67 crore.

Core offering

Elpro manufactures and distributes electrical surge protectors designed to protect equipment from voltage spikes and electrical disturbances. The company serves various industries with its electrical protection product line. FY26 annual sales reached Rs 528.14 crore, demonstrating significant growth in the surge protection hardware segment.

Differentiator

Problem solved

Functional benefit

Products and services

• Electrical Surge Protectors Electrical surge protection devices designed to protect industrial and commercial equipment from voltage spikes and electrical disturbances. Sold to organizations across various industries.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Greaves Cotton LimitedstrategicOthers · 24 June 2026Elpro International Ltd acquired 2,31,215 equity shares of Greaves Cotton Limited for ₹5.00 crore via cash consideration, as disclosed under SEBI regulations. Greaves Cotton operates in the compressors, pumps, and diesel engines sector with a FY 2025-26 turnover of ₹3,486.61 crore. This represents a strategic equity investment by Elpro into an established industrial equipment manufacturer, diversifying its portfolio into industrial equipment manufacturing.

Scale indicators5 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• Havells India: Havells India is a leading Indian electrical products company manufacturing switches, MCBs, surge protection devices, and wiring accessories. It is the closest Indian-listed peer to Elpro in terms of product portfolio, target customers (industrial and residential), and distribution model.
• Eaton: Eaton is a global leader in power management including surge protection devices, UPS systems, and circuit protection. It is a direct competitor in the industrial surge protection category Elpro serves, with significantly greater scale and global reach.
• Legrand: Legrand specializes in wiring devices, cable management, and electrical protection products including surge protectors. It directly competes with Elpro in commercial and industrial electrical protection markets, with strong distribution in India.
• Polycab India: Polycab India is a leading Indian manufacturer of wires, cables, and electrical accessories including switchgear and protection devices. It is comparable to Elpro as a domestic Indian electrical equipment manufacturer with overlapping industrial customer base.

Broad incumbents

• Schneider Electric: Schneider Electric is a global electrical equipment and industrial automation leader with surge protection as part of a broader portfolio. It competes with Elpro in industrial circuit protection while offering vastly wider solutions across power distribution and automation.
• ABB: ABB is a global industrial electrical and automation leader with surge arresters and substation protection products competing with Elpro's industrial-grade offerings. It serves as a broad incumbent rather than a focused specialist.
• Larsen & Toubro (L&T): L&T is a diversified Indian conglomerate with a major electrical and automation division manufacturing switchgear and protection equipment. It competes with Elpro in industrial segments while operating across construction, infrastructure, and defense.
• Siemens: Siemens is a global industrial and electrical equipment leader with surge protection and power distribution products. It competes broadly with Elpro in industrial electrical protection as part of its wider portfolio.
• Honeywell: Honeywell operates in electrical components, building automation, and industrial protection equipment. While not a focused surge protection player, it serves overlapping industrial customers and competes in adjacent electrical infrastructure markets.

Regional players

• Crompton Greaves Consumer Electricals: Crompton Greaves is an Indian electrical equipment manufacturer with consumer and industrial products. It is comparable to Elpro as a domestic Indian competitor in electrical goods, primarily serving the Indian market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elpro