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Electrosteel Castings Ltd (ELECTCAST)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500128 NSE: ELECTCAST Steel & Iron Products | Small Cap | Electrost Castings Share Price

₹74.09 -0.82 (-1.09%)

As on 05-Jun'26 16:59

Electrosteel Castings Ltd (ELECTCAST)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500128 NSE: ELECTCAST Steel & Iron Products | Small Cap | Electrost Castings Share Price

₹74.09 -0.82 (-1.09%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹4,580 Cr.
Current Price
₹74.1
52-Week Low / High
₹60 / 139
TTM EPS
₹2.1
TTM Sales
₹5,033 Cr.
Book Value per Share
₹91.9
P/E Ratio
34.87
Higher than its 5-year historical median
Industry PE
25.5
Price to Book (P/B)
0.81
Lower than its 5-year historical median
Price to Sales (P/S)
0.91
Higher than its 5-year historical median
EV/EBITDA
11.16
Higher than its 5-year historical median
Dividend Yield
1.42%
Profitability Efficiency
Return on Equity (ROE)
13.40%
Outperforms industry median
Return on Capital Employed (ROCE)
13.69%
Outperforms industry median
Return on Assets (ROA)
8.02%
Operating Profit Margin
15.2%
Net Profit Margin
10.56%
Gross Profit Margin
14.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-2.77%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-10.7%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-3.25%
Asset Quality
Promoter Holding
50.13%
Pledged shares (%) of Promoter's holding (%)
10.54%
Reserves
₹5,622 Cr.
Equity
₹61.8 Cr.
Face Value
₹1
All Time Low / High
₹3.05 / 236.65

Electrosteel Castings stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Electrosteel Castings Ltd a good quality company?
Electrosteel Castings Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Electrosteel Castings Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Electrosteel Castings Ltd vs industry peers?
Electrosteel Castings Ltd revenue CAGR is 22.16%, compared to the industry median CAGR of 7.56%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Electrosteel Castings Ltd?
Promoters hold 50.13% of the Electrosteel Castings Ltd, with 10.54% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Electrosteel Castings Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.6% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Electrosteel Castings Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 5.2%6.4%5.3%-10.3%7.9%7.8%9.9%10.5%16.5%13.7%-
Value Creation
Index
-0.6-0.5-0.6-1.7-0.4-0.4-0.3-0.30.20.0-

Growth Parameters

Sales 2,0161,7942,0212,3912,4803,0765,0156,9166,9386,7465,033
Sales YoY Gr.--11%12.7%18.3%3.7%24%63.1%37.9%0.3%-2.8%-
Adj EPS 1.111.2-5.32.135.55.51211.52.1
YoY Gr.--4.6%15.4%-545%NA43.3%82.9%0.6%118.4%-3.9%-
BVPS (₹) 78.680.38158.758.983.667.171.480.891.291.9
Adj Net
Profit
38.837.242.8-21790129324326740711131
Cash Flow from Ops. 510445424-43.5238472-325398678428-
Debt/CF from Ops. 4.14.33.7-37.26.43.9-8.36.134.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 14.4%22.2%10.4%-2.8%
Adj EPS 29.9%40.8%28.3%-3.9%
BVPS1.7%9.2%10.8%12.9%
Share Price 15.6% 18% 12.7% -30.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1.51.31.5-8.23.74.28.57.91613.42.3
Op. Profit
Mgn %
13.215.412.215.814.412.612.710.316.615.26
Net Profit
Mgn %
1.92.12.1-9.13.64.26.54.710.710.52.6
Debt to
Equity
0.70.70.50.70.60.50.70.60.40.30
Working Cap
Days
288302260224226221199181196230156
Cash Conv.
Cycle
14314012812914013413112813815771

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales2,0161,7942,0212,3912,4803,0765,0156,9166,9386,746
Operating Expenses + 1,7511,5171,7972,0442,1262,6934,3866,2205,8125,740
Manufacturing Costs3012892943233995278229781,1121,064
Material Costs9758019381,1001,1451,4592,5083,9643,5593,444
Employee Cost 176184182152172235326358393436
Other Costs 300243383469410471729920748796
Operating Profit 2652762243473543836296961,1261,006
Operating Profit Margin (%) 13.1%15.4%11.1%14.5%14.3%12.4%12.5%10.1%16.2%14.9%
Other Income + 41978164176987123119110
Exceptional Items 000-790000000
Interest 169201202225195202185272202142
Depreciation 656459555379113114114127
Profit Before Tax 7210844-659124172419433930847
Tax 1631-3-2325419398194135
Profit After Tax 567747-63699131326335736712
PAT Margin (%) 2.8%4.3%2.3%-26.6%4.0%4.3%6.5%4.8%10.6%10.6%
Adjusted EPS (₹)1.62.21.3-15.72.33.05.55.611.911.5
Dividend Payout Ratio (%)31.90%23.10%22.80%0%13.20%8.30%14.60%16%11.80%12.20%

Valuation of Electrost Castings - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2,8072,8652,8922,3792,5493,6213,9874,2454,9925,637
Share Capital 36363641434359596262
Reserves 2,7712,8292,8562,3392,5053,5773,9284,1864,9305,575
Debt +1,8991,7181,2861,4681,3051,6972,5122,2751,8921,592
Long Term Debt1,1411,127846835701791838706399191
Short Term Debt7585914406346049061,6741,5691,4931,401
Minority Interest0000000000
Trade Payables261205279276332401562512491465
Others Liabilities 8619881,1438497991,0171,1441,0601,2131,466
Total Liabilities 5,8285,7755,6004,9734,9856,7358,2058,0928,5889,160

Fixed Assets

Net Fixed Assets +1,7141,6401,6031,5791,6332,5572,6882,6452,8192,947
Gross Block1,7781,7631,7801,8031,9063,1123,3043,3633,6143,853
Accumulated Depreciation64123177224273555616718795907
CWIP 1,2781,2101,2021,2371,1651,3281,2081,3021,2281,249
Investments 1,1491,1471,147542540266520225268251
Inventories3514394085636149651,8411,6941,7381,884
Trade Receivables7014845596016387291,0421,3101,5621,712
Cash Equivalents 10033320313263451457382343148
Others Assets 535523478321332438449535629970
Total Assets 5,8285,7755,6004,9734,9856,7358,2058,0928,5889,160

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 510445424-43238472-325398678428
PBT 7210844-659124172419433930847
Adjustment 2241911671,013273233232324253192
Changes in Working Capital 224174224-383-154107-867-243-286-405
Tax Paid -10-28-11-15-5-40-109-116-219-206
Cash Flow From Investing Activity + 9177-5937-16159-306207-9-128
Capex -21113-19-53-54-115-182-177-233-268
Net Investments 96-60-66621560-191269-288-246
Others 162426282321466115512387
Cash Flow From Financing Activity + -595-343-561-5-256-537631-556-648-412
Net Proceeds from Shares 0001405000000
Net Proceeds from Borrowing -31060-169-51-56-13661-182-366-118
Interest Paid -220-212-2010-208-208-169-242-194-148
Dividend Paid -22-17-20-2920-13-27-48-84-56
Others -43-174-170198-42-180767-84-3-90
Net Cash Flow 6179-195-12-3494-14821-112

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)2.342.731.63-24.1244.258.568.1315.9413.4
ROCE (%)5.186.415.32-10.267.897.799.9110.5216.5113.69
Asset Turnover Ratio0.360.320.360.450.50.520.670.850.830.76
PAT to CFO Conversion(x)9.115.789.02N/A2.43.6-11.190.920.6
Working Capital Days
Receivable Days11611893.9088.5091.2081.1064.5062.1075.6088.60
Inventory Days76.6078.6076.3074.2086.6093.70102.1093.3090.3098
Payable Days82.70101.5075.6059.506772.5063.8043.4045.3049.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *12.4711.4411.4411.4411.4411.4411.4411.4411.4410.54
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Electrosteel Castings Ltd FAQs

The current trading price of Electrost Castings on 05-Jun-2026 16:59 is ₹74.09.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Electrost Castings stood at ₹4,580.1 Cr

The latest P/E ratio of Electrost Castings as of 04-Jun-2026 is 34.87.

The latest P/B ratio of Electrost Castings as of 04-Jun-2026 is 0.81.

The 52-week high of Electrost Castings is ₹138.7 and the 52-week low is ₹60.13.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Electrost Castings is ₹5,033 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Electrosteel Castings Ltd is a average quality company.

The key valuation ratios of Electrosteel Castings Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Electrosteel Castings Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Electrosteel Castings Ltd

Electrosteel Castings was started off as a Cast Iron Pipe manufacturing facility, now has metamorphosed into a true Indian multinational, spanning some continents and many countries across the globe. It has been creating industry benchmarks by delivering internationally accredited superior quality Ductile Iron Pipes and Fittings. The manufacturing activities of the company are spread over different locations situated in India. The company caters to the needs of Water Infrastructure Development. 

The company serves a diverse customer base encompassing companies in the infrastructure and industrial sectors. The company supplies ductile iron pipes and fittings to major turnkey contractors like L&T, Megha Engineering, and NCC. It also directly supplies to state government departments such as PHED/Water supply, as well as to the private contractors catering to semi-government agencies.

The company is a public limited company in India having its corporate office in Kolkata in the State of West Bengal and registered office at Rajgangpur, Sundergarh in the State of Odisha. The company’s shares are listed on National Stock Exchange of India and BSE.

Business area of the company

The company is engaged in the manufacture and supply of Ductile Iron (DI) Pipes, Ductile Iron Fittings (DIF) and Cast Iron (CI) Pipes as its core business and also produces Pig Iron, Metallurgical Coke, Sponge Iron, Sinter, Cement, Ferro products, along with the same.

Products

  • Ductile Iron Pipes
  • Ductile Iron Fittings
  • Ductile Iron Flange Pipes
  • Restrained Joint Pipes
  • Cement
  • Ferro Alloys

Awards and recognitions

  • 2020: Honoured with the release of a Special Postal Stamp and Cover on the occasion of pioneering DI Pipes in India. The approval for this came from the PMO, via the Chief Postmaster General.
  • 2021: Won two prestigious award at the  World HRD Congress on the of February 16, 2021 - Best Employer Brand Award, 2020.
  • 2021: Won a SILVER at the prestigious 'Excellence in Safety, Health and Environment (SHE) Awards', given by the State Productivity Council – West Bengal.
  • 2022: The Economic Times recognised the company as a 'Sustainable Organisation For Adapting Valuable Sustainable Initiatives', at the 'Global Sustainability Congress - Recognizing Excellence in a Sustainable World'.
  • 2023: Electrosteel Castings has been conferred the 'Iconic Brands of India 2023' Award, by ET Edge, an Economic Times/Times Group initiative.
  • 2024: Electrosteel has been recognized at the 3.0 Technology Excellence Awards 2024 in Bengaluru for AI-driven PPE detection system, developed in-house.

Milestones

  • 1994: Set up 60000 TPA Ductile Iron Pipe Plant at Khardah near Kolkata, the first ever in India
  • 1995: Accredited with ISO 9002 from Indian Register Quality System an Accredited body of Raad Voor de Certificate of Netherlands for ductile Iron pipes.
  • 1996: The Company obtained Kitemark license from British Standard Institute (BSI) for its Dl pipes as per ISO 2531, BS EN 545, BS EN 598.The Company commissioned its own mini-blast furnace with matching capacity for better quality control.
  • 1999: The Company received the ISO-9002 accreditation from BSI for Dl pipes and fittings.
  • 2000: The Company increased its capacity to 120,000 TPA for Dl pipes.The Company obtained Kitemark license from BSI, UK for Dl fittings made at its facilities in Elavur, Chennai as per ISO 2531, BS EN 545, and BS EN 598.
  • 2001: The Company scaled its Dl pipe capacity from 120,000 TPA to 150,000 TPA. Mini Blast Furnace capacity increased from 1,09,000 TPA to 2,00,000 TPA.
  • 2002: The Company acquired 46% stake in Lanco Industries Limited in March 2002, which is involved in manufacturing of DI Pipes, Pig Iron, Cement and Castings.
  • 2003: The Company increased its Dl pipe manufacturing capacity from 1,50,000 TPA to 200,000 TPA.   The Company also received BSI Kitemark license for Dl Fittings at Khardah works, West Bengal.
  • 2005: The Company raised USD 40 Million through the issue of Global Depository Receipts (GDRs) in October  2005 and become the first Indian Company to be listed on Professional Securities Market (PSM) of the London Stock Exchange (LSE) in addition to being the first Company to issue GDRs on the PSM.  The Company was accorded Three Star Export House by the JDGFT, Ministry of Commerce and Industry of the Government of India.
  • 2006: The Company increased its Dl pipe manufacturing capacity from 2,00,000 TPA to 2,50,000 TPA and commissioned Coke Oven Plant at Haldia. The Company commissioned 12 MW Power Plant & 30,000 TPA second Kiln Sponge Iron Plant at  Haldia. Mini Blast Furnace capacity increased from 2,00,000 TPA to 2,35,000 TPA. The Company successfully commissioned Pulverized Coal Injection System in Blast Furnace and Stamp. Charging System in Coke Oven Plant at Haldia, which enhanced operational efficiency. The company has been allotted an Iron ore mine at Kodolibad, Jharkhand and a non coking coal mine in joint venture at North Dhadhu.
  • 2007: Implemented SAP ERP system hosted in state of the art 1000 square feet Data center connecting all manufacturing plants and sales offices across Indian Geography supporting 350 user base to enable supply chain of the Company.
  • 2008: Tied up US$ 77.50 mn through ECB, commissioned 360,000 TPA sinter plant at Khardah and commissioned a 75,000 TPA coke oven battery at Haldia.
  • 2009: Commissioned fourth coke oven battery resulting in additional capacity of 70,000 TPA of coke, taking the total capacity enhanced to 280,000 TPA and 250,000 TPA respectively
  • 2019: Starts commercial production at Ferro Alloy Plant in West Bengal
  • 2020: PFIZER has chosen Electrosteel DI pipes in the race to develop the first vaccine against Covid19. The production site of the pharmaceutical company Pfizer located in Puurs, Antwerp, Belgium, is one of the sites where the mRNA vaccine candidate against SARS-CoV-2 was discovered with its partner BioNTech.
  • 2020: CCI approves amalgamation of Srikalahasthi Pipes with Electrosteel Castings
  • 2021: Electrosteel Castings is honoured to have received this Testimonial from the Office of the Engineer-in-Chief, Water Resources Department, Government of Manipur.
  • 2024: Electrosteel partnered with the Daamini initiative, with its Whole-Time Director, Nityangi Kejriwal Jaiswal, leading the charge as a nominated mentor. 
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