Electrosteel Castings Ltd

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Electrosteel Castings Ltd

₹ 69.4 -2.16%
13 Nov - close price
electrosteel.com BSE: 500128 NSE: ELECTCAST
About

Electrosteel Castings is engaged in the business of manufacturing Ductile Iron (DI) Pipes, Ductile Iron Fittings (DIF), Cast Iron (CI) Pipes and produces and supplies Pig Iron. [1][2]

Key Points

Business Profile:[1]
Electrosteel Castings Limited manufactures
and sells Ductile Iron (DI) pipes, fittings, and related products, catering to water infrastructure projects in India and international markets.

Website BSE NSE
  • Market Cap ₹ 4,292 Cr.
  • Current Price ₹ 69.4
  • High / Low ₹ 95.9 / 60.1
  • Stock P/E 140
  • Book Value ₹ 91.2
  • Dividend Yield 1.30 %
  • ROCE 4.73 %
  • ROE 2.68 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Stock is trading at 0.76 times its book value
  • Company has been maintaining a healthy dividend payout of 22.1%
  • Promoter holding has increased by 4.38% over last quarter.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 10.4% over past five years.
  • Company has a low return on equity of 10.4% over last 3 years.
  • Earnings include an other income of Rs.105 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Iron & Steel Products

Part of BSE Industrials Nifty Microcap 250 Nifty Total Market BSE 1000 Nifty Smallcap 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
1,870 1,797 1,776 1,832 1,692 1,659 1,563 1,402 1,192 1,242 1,197 1,091 1,205
1,558 1,402 1,493 1,498 1,443 1,395 1,388 1,240 1,110 1,208 1,171 1,048 1,158
Operating Profit 313 395 283 334 249 264 175 162 83 34 25 43 47
OPM % 17% 22% 16% 18% 15% 16% 11% 12% 7% 2.7% 2.1% 4.0% 3.9%
18 18 35 19 20 16 38 24 91 10 32 28 35
Interest 55 50 46 37 35 40 31 33 34 33 27 22 24
Depreciation 29 28 30 30 31 33 33 37 38 38 38 37 37
Profit before tax 248 335 243 287 204 207 149 117 102 -26 -8 12 21
Tax % 26% 25% 10% 26% 25% 24% -28% 26% 25% -24% 39% 51% 18%
184 252 219 212 152 157 191 86 76 -20 -11 6 17
EPS in Rs 3.10 4.24 3.54 3.43 2.46 2.54 3.09 1.39 1.23 -0.32 -0.17 0.10 0.28
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
2,154 2,016 1,794 2,021 2,391 2,480 3,076 5,015 6,916 6,938 6,746 5,033 4,735
1,875 1,730 1,552 1,796 2,041 2,123 2,686 4,374 6,185 5,772 5,710 4,729 4,586
Operating Profit 278 286 242 225 350 357 389 641 731 1,166 1,035 304 149
OPM % 13% 14% 13% 11% 15% 14% 13% 13% 11% 17% 15% 6% 3.1%
31 20 132 80 -729 40 60 76 88 80 81 157 105
Interest 145 169 201 202 225 220 199 185 272 202 142 127 106
Depreciation 67 65 64 59 55 53 79 113 114 114 127 149 149
Profit before tax 96 72 108 44 -659 124 172 419 433 930 847 185 -1
Tax % 25% 22% 29% -8% -4% 20% 24% 22% 23% 21% 16% 29%
73 56 77 47 -636 99 131 326 335 736 712 131 -8
EPS in Rs 2.04 1.57 2.16 1.32 -15.68 2.28 3.02 5.48 5.63 11.91 11.52 2.12 -0.11
Dividend Payout % 32% 32% 23% 23% 0% 13% 11% 15% 16% 12% 12% 42%
Compounded Sales Growth
10 Years: 10%
5 Years: 10%
3 Years: -10%
TTM: -19%
Compounded Profit Growth
10 Years: 8%
5 Years: 3%
3 Years: -24%
TTM: -94%
Stock Price CAGR
10 Years: 13%
5 Years: 16%
3 Years: -14%
1 Year: -14%
Return on Equity
10 Years: 7%
5 Years: 10%
3 Years: 10%
Last Year: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 36 36 36 36 41 43 59 59 59 62 62 62 62
Reserves 2,469 2,771 2,829 2,856 2,339 2,505 3,577 3,928 4,211 4,930 5,575 5,622 5,579
2,464 2,066 1,917 1,564 1,619 1,538 1,888 2,729 2,456 2,035 1,828 1,217 1,309
493 954 993 1,144 975 898 1,211 1,489 1,366 1,562 1,695 1,733 1,648
Total Liabilities 5,462 5,828 5,775 5,600 4,973 4,985 6,735 8,205 8,092 8,588 9,160 8,634 8,597
1,109 1,714 1,640 1,603 1,579 1,633 2,557 2,688 2,645 2,819 2,947 2,969 2,950
CWIP 1,278 1,278 1,210 1,202 1,237 1,165 1,328 1,208 1,302 1,228 1,249 1,185 1,174
Investments 1,266 1,149 1,147 1,147 542 540 266 520 225 268 251 802 943
1,809 1,686 1,779 1,648 1,617 1,646 2,584 3,790 3,920 4,273 4,714 3,677 3,530
Total Assets 5,462 5,828 5,775 5,600 4,973 4,985 6,735 8,205 8,092 8,588 9,160 8,634 8,597

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
395 510 445 424 -43 238 472 -325 398 678 428 1,056
-248 91 77 -59 37 -16 196 -306 207 -9 -128 -171
-152 -595 -343 -561 -5 -256 -537 631 -556 -648 -412 -827
Net Cash Flow -5 6 179 -195 -11 -34 131 -1 48 21 -112 59
Free Cash Flow 263 489 558 405 -96 183 357 -507 220 445 160 957
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 145% 182% 196% 193% -8% 68% 132% -34% 70% 77% 61% 362%

Ratios

Standalone / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 98 127 98 101 92 94 87 76 69 82 93 89
Inventory Days 160 137 200 159 187 196 241 268 156 178 200 206
Days Payable 72 102 94 108 92 106 100 82 47 50 49 55
Cash Conversion Cycle 187 162 205 151 187 184 228 262 178 210 243 240
Working Capital Days -9 21 32 6 23 23 31 29 42 58 82 96
ROCE % 5% 5% 6% 5% 8% 9% 8% 10% 11% 17% 14% 5%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
DI Pipe Production Volume
Lakh MT

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DI Pipe Installed Capacity
Lakh MT
Total Sales Volume (DI Pipes + DI Fittings + CI Pipes)
Lakh MT
DI Pipe Capacity Utilization
%
Number of Countries Exported To
Count
Order Book (Coverage in Months)
Months
Total Finished Goods Capacity (DI Pipes + CI Pipes + DI Fittings)
Lakh MT
Domestic Market Share (DI Pipes)
%

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Shareholding Pattern

Numbers in percentages

16 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
44.08% 46.22% 46.22% 46.22% 46.22% 46.22% 46.22% 46.22% 46.22% 50.14% 50.14% 54.52%
18.18% 19.70% 21.16% 19.73% 19.91% 20.06% 20.27% 19.26% 19.38% 15.73% 12.80% 8.57%
0.43% 0.36% 0.44% 1.98% 0.62% 0.63% 0.21% 0.25% 0.24% 0.23% 0.37% 0.35%
0.24% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23%
37.07% 33.47% 31.95% 31.84% 33.03% 32.87% 33.08% 34.07% 33.94% 33.67% 36.47% 36.32%
No. of Shareholders 1,08,3151,21,6151,33,8611,53,2431,67,9351,73,4961,82,1891,86,2561,82,2431,76,9131,79,8941,75,581

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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