Evans Electric Ltd. – Company Report
1. Company Overview
Evans Electric Ltd., established in 1951 and headquartered in Mumbai, Maharashtra, is a pioneer and widely recognized player in India's heavy electro-mechanical repair industry. The company has cultivated national and international reputation for excellence in the repair, rewinding, refurbishment, and maintenance of large rotating electrical equipment. With decades of technical leadership, Evans Electric serves sectors such as power generation (thermal, hydro, nuclear), petrochemicals, steel, cement, mining, shipping, transport, and industrial infrastructure.
Originally launched as a small workshop, the company has grown into a sophisticated enterprise with a 30,000 sq. ft. manufacturing unit in Palghar, Maharashtra. Evans Electric became a public limited company in 2019 and has since enjoyed industry-leading recognition, being listed on the BSE. Over the years, it has achieved several engineering milestones, including world-firsts in high-voltage generator rewinds and complex on-site repairs for some of the largest turbo generator rotors in India.
- Incorporated: 1951
- Headquarters: Mumbai, Maharashtra, India
- Public Listing: BSE
- Factory: 30,000 sq. ft. plant in Palghar, Maharashtra
- Leadership: Highly reputed team of engineers and consultants
- Market Capitalization (July 2025): ~₹98 crore
Evans Electric is often sought after for its in-depth diagnostics, reverse engineering, and problem-solving capabilities for the most challenging electrical machines.
2. Products and Services
Evans Electric Ltd. delivers a broad range of heavy electro-mechanical repair, refurbishment, and manufacturing services:
Core Services
- Rewinding and refurbishment of large electric motors, generators, and transformers
- Diagnostics, on-site repair, and reverse engineering for complex rotating equipment
- Servicing of extra-high voltage (EHV) turbo generators, power station equipment, and large industrial machines
Industry Verticals Served
- Power generation: Thermal, hydro, diesel, gas, and nuclear stations
- Petrochemical, steel, cement, tyre, sugar, oil & gas, and chemical industries
- Shipping, mining, and railway traction
Manufacturing Capabilities
- Replacement components such as coils, insulators, slip rings, retaining rings, carbon brushes, brush holders, winding kits, insulation components, wedges, packers, and stampings
- Specialized tools and engineering products for industrial applications
Specializations
- On-site repair and rewinding for equipment too large for factory transport
- In-house design, research, and development for custom projects
- Refurbishment and upgradation of legacy and imported equipment
- Technical consultancy for power utilities and industrial clients
Evans Electric is recognized for introducing technologies like ELCID testing in India and developing self-reliant manufacturing processes for critical components.
3. Recent News & Financial Performance
Business Developments
- The company continues to receive domestic and international recognition for its role as a trusted partner in high-stakes repair and refurbishment projects for the power and industrial sectors.
- Evans Electric has maintained leadership in specialized on-site repairs, including world-first feats like reverse engineering and rewinding a 50 MW, 33 kV turbo generator, and executing complex repairs on massive 248 MVA and 500 MW turbo-generator rotors.
4. Financial Performance (FY2025)
| Metric | FY2025 Value | YoY Growth |
|---|---|---|
| Total Revenue | ₹25.39 crore | 23.5% |
| Net Profit | ₹7.58 crore | 49.3% |
| Basic EPS | ₹13.8 | 49.6% |
| ROE | 33.1% | — |
| Dividend Yield | 0.88% | — |
| Debt | Virtually Debt-Free | — |