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Electrosteel Castings Ltd.

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electrosteel.comBSE: 500128NSE: ELECTCAST
Market Cap₹ 4,836 Cr.
Current Price
High / Low₹ 104 / 60
Stock P/E94.4
Book Value₹ 92
Price to Book0.80
Dividend Yield1.15 %
ROCE4.4 %
ROE2.3 %
Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence
72%
View full sector analysis →

PROS

  • Promoters have been increasing their shareholding - up 3.9pp over 2 years
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.37x)
  • Company has been maintaining a healthy dividend payout of 42.4%
  • Company generates healthy free cash flow
  • Company has a consistent dividend-paying track record
  • Company maintains a comfortable, low leverage position

CONS

  • A large part of profit comes from other income (122.3% of PBT)
  • Recent results are weak - TTM profit is down 90.4% versus prior year
  • Company has a low return on capital employed of 11.5%
  • Valuation is stretched - P/E of 94.4 is well above its own 5-year median (15.0)
  • Working capital days have increased from 95 to 150 days
  • Company has delivered a poor profit growth of 0.1% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsIron & SteelSteel & Iron Products
Part ofNIFTY MICROCAP250NIFTY TOTAL MKT
S.No.Name
1.JSWSTEEL1310.3512.93320440.060.544696.00112.5847364.0011.5520.6719.60
2.TATASTEEL188.5521.33235375.562.122385.2418.8260794.2915.2612.7015.40
3.SAIL186.2518.0176931.031.261644.05120.8026245.671.257.0815.92
4.WELCORP2607.9529.7968795.280.191047.88200.114081.1214.9123.9432.17
5.JSL782.8019.8764535.570.51768.667.5611278.5410.5019.1912.09
6.APLAPOLLO2167.5048.9760182.460.39263.1110.945606.7112.0731.837.34
7.SHYAMMETL1073.3526.6829960.620.42350.7320.665455.0923.4513.8814.03
8.RATNAMANI2862.5546.3520064.190.35107.03-15.82971.63-15.6318.0116.69
9.JINDALSAW311.8530.5219943.060.6490.79-78.154452.319.0010.388.79
10.SARDAEN546.7517.0519266.450.37478.139.501608.04-1.0717.7641.59
11.GPIL253.2021.1417046.410.39222.372.751750.4732.2920.2019.36
12.ELECTCAST78.2340.074836.061.1548.37-45.701425.57-8.484.757.01
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,4951,8701,7971,7761,8321,6921,6591,5631,4021,1921,2421,1971,091
1,3451,5581,4021,4931,4981,4431,3951,3881,2401,1101,2081,1711,107
Operating Profit150313395283334249264175162833425-15
OPM %10.00%16.72%21.97%15.94%18.25%14.73%15.89%11.19%11.58%6.93%2.72%2.12%-1.41%
35181835192016382491103228
Interest51555046373540313334332722
Depreciation28292830303133333738383837
Profit before Tax105247335243287204207149117102-26-812
Tax %22.19%25.63%24.73%9.96%26.00%25.41%24.00%-27.71%26.44%25.48%23.92%-39.19%51.31%
Net Profit811842522192121521571918676-20-116
1.373.094.243.573.432.462.543.091.391.23-0.32-0.170.10

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
1,7942,0212,3912,4803,0765,0156,9166,9386,7465,0334,722
1,5171,7972,0442,1262,6934,3866,2205,8125,7404,7594,596
Operating Profit2762243473543836296961,1261,006273126
OPM %15.40%11.09%14.51%14.29%12.44%12.54%10.06%16.24%14.91%5.43%2.68%
9781-726176987123119110188161
Interest201202225195202185272202142127116
Depreciation6459555379113114114127149149
Profit before Tax10844-65912417241943393084718580
Tax %28.77%-7.80%3.56%20.19%23.70%22.22%22.65%20.83%15.90%29.00%36.10%
Net Profit7747-6369913132633573671213151
EPS0.000.000.000.002.555.485.6311.9111.522.12—
Dividend Payout %23.09%22.79%0.00%13.17%8.27%14.61%15.99%11.76%12.15%42.36%—

COMPOUNDED SALES GROWTH

10 Years:
10%
5 Years:
10%
3 Years:
-10%

COMPOUNDED PROFIT GROWTH

10 Years:
9%
5 Years:
0%
3 Years:
-27%

STOCK PRICE CAGR

10 Years:
14%
5 Years:
15%
3 Years:
5%
1 Year:
-19%

RETURN ON EQUITY

10 Years:
4%
5 Years:
10%
3 Years:
11%
Last Year:
2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 14

₹ 0.90

Rs.0.9000 per share(90%)Final Dividend

2025

Aug 14

₹ 1.40

Rs.1.4000 per share(140%)Final Dividend

2024

Aug 16

₹ 0.90

Rs.0.9000 per share(90%)Final Dividend

2024

Feb 21

₹ 0.50

Rs.0.5000 per share(50%)Interim Dividend

2023

Sep 4

₹ 0.90

Rs.0.9000 per share(90%)Final Dividend

2022

Sep 8

₹ 0.80

Rs.0.8000 per share(80%)Final Dividend

2021

Aug 26

₹ 0.25

Rs.0.2500 per share(25%)Dividend

2020

Sep 7

₹ 0.30

Rs.0.3000 per share(30%)Final Dividend

2018

Sep 6

₹ 0.30

Rs.0.3000 per share(30%)Dividend

2017

Sep 7

₹ 0.50

Rs.0.5000 per share(50%)Dividend

2016

Sep 1

₹ 0.50

Rs.0.5000 per share(50%)Dividend

2026

Aug 6

₹ 0.90

Rs.0.9000 per share(90%)Final Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital36364143435959626262
2,8292,8562,3392,5053,5773,9284,1864,9305,5755,622
2,1181,7351,7601,5741,9002,7582,4552,1672,1751,624
Trade Payables205279276332401562512491465425
587694557530814899880938883901
Total Liabilities5,7755,6004,9734,9856,7358,2058,0928,5889,1608,634
1,6401,6031,5791,6332,5572,6882,6452,8192,9472,969
Capital Work in Progress1,2101,2021,2371,1651,3281,2081,3021,2281,2491,185
1,1471,147542540266520225268251802
4394085636149651,8411,6941,7381,8841,601
00000001,5621,7121,223
Cash & Bank33320313263451457382343148207
1,0071,0379229701,1681,4911,844629970646
Total Assets5,7755,6004,9734,9856,7358,2058,0928,5889,1608,634

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
473435-29243512-2175136784281,056
Cash from Investing77-5937-16159-306207-9-128-171
Cash from Financing-343-561-5-256-537631-556-648-412-827
179-195-12-3494-14821-11259

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
46.2146.2146.2146.2146.2146.2146.2150.1350.13
21.1619.7319.9120.0620.2719.2619.3815.7312.80
0.441.980.610.620.200.240.240.230.36
0.230.230.230.230.230.230.230.230.23
31.9531.8433.0432.8833.0934.0733.9333.6836.49

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01
Shareholders meeting

2026-09-01 - Electrosteel Castings Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-31
Shareholders meeting

2026-08-31 - Electrosteel Castings Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026

2026-08-27
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Electrosteel Castings Limited has informed the Exchange about Schedule of meet

2026-08-14
Shareholders meeting

2026-08-14 - Electrosteel Castings Limited has informed the Exchange regarding Proceedings of undefined held on August 13, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.

2026-08-12
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - Electrosteel Castings Limited has informed the Exchange about Transcript

2026-08-12
Resignation of Director/KMP/SMP

2026-08-12 - Electrosteel Castings Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-12
Resignation

2026-08-12 - Electrosteel Castings Limited has informed the Exchange regarding Resignation of Mr Manoj Kumar Thakur as President Growth, Business Control and Coal of the company w.e.f. August 12, 2026.

2026-08-08
Copy of Newspaper Publication

2026-08-08 - Electrosteel Castings Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-07
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Electrosteel Castings Limited has informed the Exchange about Link of Recording

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