ELECTCAST

Electrosteel Castings Limited

Ductile iron pipes and fittings manufacturer with overseas arm in Italy

Industrials›Capital Goods›Industrial Products›Iron & Steel Products

electrosteel.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹76.70
Market cap
4,751 Cr
Stock P/E
39.4
P/B
0.80
Dividend yield
1.8%
ROE (FY26)
2.7%
ROCE (FY26)
4.9%
Operating margin (FY26)
3.1%
Debt / equity (FY26)
0.26
OCF / EBITDA (FY26)
319.4%
OCF / EBITDA (3Y)
94.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Electrosteel Castings makes ductile iron (DI) pipes and fittings and cast iron (CI) pipes, mainly for water-supply and sewage projects, selling to Indian government-funded water programmes and to export markets.

Company snapshot

18thBy market cap

Ranked among 64 companies in Iron & Steel Products.

What we see

Positives
  • ✓95% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 2.7% — little room for error if costs rise.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,919 Cr1,869 Cr2,004 Cr2,012 Cr1,828 Cr1,777 Cr1,701 Cr1,558 Cr1,396 Cr1,472 Cr1,493 Cr1,426 Cr
Operating expenses (approx.)1,619 Cr1,463 Cr1,693 Cr1,658 Cr1,560 Cr1,522 Cr1,541 Cr1,387 Cr1,303 Cr1,438 Cr1,431 Cr1,326 Cr
EBITDA300 Cr406 Cr311 Cr354 Cr268 Cr255 Cr160 Cr170 Cr93 Cr34 Cr62 Cr100 Cr
OPM %15.6%21.7%15.5%17.6%14.6%14.3%9.4%10.9%6.7%2.3%4.1%7.0%
Other income18 Cr23 Cr34 Cr24 Cr21 Cr39 Cr39 Cr28 Cr95 Cr54 Cr37 Cr39 Cr
Interest57 Cr53 Cr52 Cr41 Cr40 Cr45 Cr35 Cr36 Cr38 Cr37 Cr32 Cr27 Cr
Depreciation30 Cr30 Cr34 Cr32 Cr36 Cr37 Cr37 Cr41 Cr43 Cr45 Cr44 Cr43 Cr
Profit before tax231 Cr346 Cr260 Cr305 Cr212 Cr213 Cr126 Cr121 Cr107 Cr-32 Cr23 Cr69 Cr
Tax %24.3%24.0%12.6%25.8%27.0%24.7%-33.2%26.5%26.7%31.2%29.4%29.6%
Net profit175 Cr263 Cr227 Cr226 Cr155 Cr160 Cr168 Cr89 Cr78 Cr-22 Cr16 Cr48 Cr
EPS (₹)₹2.94₹4.42₹3.71₹3.65₹2.51₹2.59₹2.72₹1.44₹1.27₹-0.35₹0.26₹0.78

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,118 Cr2,186 Cr2,699 Cr2,711 Cr3,471 Cr5,281 Cr7,276 Cr7,478 Cr7,320 Cr5,918 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,829 Cr1,929 Cr2,305 Cr2,345 Cr3,040 Cr4,583 Cr6,538 Cr6,300 Cr6,284 Cr5,559 CrSign in free for the trailing twelve months
EBITDA288 Cr257 Cr395 Cr366 Cr431 Cr698 Cr738 Cr1,178 Cr1,036 Cr359 CrSign in free for the trailing twelve months
OPM %13.6%11.8%14.6%13.5%12.4%13.2%10.1%15.8%14.1%6.1%Sign in free for the trailing twelve months
Other income100 Cr80 Cr57 Cr33 Cr58 Cr56 Cr85 Cr102 Cr123 Cr215 CrSign in free for the trailing twelve months
Interest210 Cr210 Cr235 Cr228 Cr211 Cr195 Cr286 Cr219 Cr161 Cr144 CrSign in free for the trailing twelve months
Depreciation67 Cr62 Cr59 Cr57 Cr91 Cr115 Cr121 Cr125 Cr142 Cr173 CrSign in free for the trailing twelve months
Profit before tax178 Cr123 Cr21 Cr190 Cr-52 Cr444 Cr415 Cr937 Cr856 Cr219 CrSign in free for the trailing twelve months
Tax %19.0%-0.9%-87.1%14.9%-78.2%21.8%23.9%21.0%17.1%26.2%Sign in free for the trailing twelve months
Net profit144 Cr124 Cr39 Cr161 Cr-92 Cr348 Cr316 Cr740 Cr710 Cr161 CrSign in free for the trailing twelve months
EPS (₹)₹4.04₹3.47₹0.99₹3.85₹-3.37₹5.84₹5.31₹12.35₹11.48₹2.61Sign in free for the trailing twelve months
Dividend payout %—————7.8%15.0%11.4%7.8%53.6%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital36 Cr36 Cr41 Cr43 Cr43 Cr59 Cr59 Cr62 Cr62 Cr62 Cr
Reserves2,349 Cr2,443 Cr2,598 Cr2,837 Cr2,825 Cr4,044 Cr4,323 Cr5,051 Cr5,720 Cr5,862 Cr
Borrowings1,854 Cr1,397 Cr1,609 Cr1,491 Cr1,929 Cr2,930 Cr2,628 Cr2,266 Cr2,060 Cr1,513 Cr
Other liabilities1,280 Cr1,546 Cr1,174 Cr1,220 Cr1,486 Cr1,589 Cr1,507 Cr1,727 Cr1,853 Cr2,024 Cr
Total liabilities5,519 Cr5,423 Cr5,421 Cr5,593 Cr7,181 Cr8,624 Cr8,519 Cr9,108 Cr9,695 Cr9,461 Cr
Fixed assets (net)1,699 Cr1,672 Cr1,629 Cr1,699 Cr2,598 Cr2,703 Cr2,723 Cr2,842 Cr3,018 Cr3,124 Cr
CWIP1,210 Cr1,202 Cr1,237 Cr1,166 Cr1,337 Cr1,208 Cr1,302 Cr1,229 Cr1,249 Cr1,186 Cr
Investments590 Cr637 Cr684 Cr747 Cr202 Cr457 Cr161 Cr204 Cr145 Cr578 Cr
Loans & advances——38 Cr19 Cr47 Cr53 Cr109 Cr0 Cr0 Cr0 Cr
Inventories630 Cr610 Cr754 Cr897 Cr1,230 Cr2,238 Cr2,269 Cr2,273 Cr2,464 Cr2,398 Cr
Trade receivables459 Cr525 Cr609 Cr618 Cr769 Cr942 Cr1,056 Cr1,365 Cr1,483 Cr1,071 Cr
Cash & bank286 Cr93 Cr75 Cr59 Cr213 Cr214 Cr230 Cr279 Cr167 Cr294 Cr
Other assets646 Cr684 Cr396 Cr388 Cr786 Cr810 Cr666 Cr916 Cr1,169 Cr811 Cr
Total assets5,519 Cr5,423 Cr5,421 Cr5,593 Cr7,181 Cr8,624 Cr8,519 Cr9,108 Cr9,695 Cr9,461 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity421 Cr467 Cr-46 Cr225 Cr465 Cr-279 Cr452 Cr806 Cr480 Cr1,147 Cr
Cash from investing72 Cr-66 Cr33 Cr-20 Cr93 Cr-329 Cr168 Cr-37 Cr-142 Cr-136 Cr
Cash from financing-332 Cr-594 Cr-5 Cr-220 Cr-422 Cr609 Cr-604 Cr-720 Cr-454 Cr-900 Cr
Net cash flow162 Cr-193 Cr-18 Cr-16 Cr136 Cr0.74 Cr17 Cr49 Cr-116 Cr110 Cr
Free cash flow (OCF − Capex)390 Cr436 Cr-104 Cr166 Cr332 Cr-474 Cr265 Cr561 Cr203 Cr1,017 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %9.2%8.6%6.0%9.5%2.8%9.1%10.0%15.7%13.0%4.9%
ROE %6.0%5.0%1.4%5.6%-3.9%8.5%7.2%14.5%12.3%2.7%
Debtor days79878283816553677466
Inventory days302254248293316296207237246304
Days payable1321481021261198354575670
Cash conversion cycle249193229250278278206246264300
OCF / EBITDA %146.2%181.4%-11.7%61.4%107.9%-40.0%61.3%68.4%46.4%319.4%
OCF / EBITDA % (3 years)——89.5%63.4%54.0%27.5%34.2%37.4%58.9%94.5%
Debt / equity0.780.560.610.520.670.710.600.440.360.26
Current ratio1.351.161.231.171.471.441.471.581.682.00
Net debt / EBITDA5.445.073.893.913.983.893.251.691.833.39