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Swing Capital

Electrosteel Castings Ltd

NSE: ELECTCAST BSE: 500128Metal

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]

₹77.9
52W: ₹60.1 — ₹139
PE 13 · Book ₹92.4 · -16% vs book
Market Cap₹4,816 Cr
Stock P/E13Price to Earnings
ROCE13.8%Return on Capital
ROE13.6%Return on Equity
Div. Yield1.77%Face Value ₹1

Strengths

  • +Stock is trading at 0.89 times its book value
  • +Company has delivered good profit growth of 48.4% CAGR over last 5 years
  • +Promoter holding has increased by 3.92% over last quarter.

Weaknesses

  • −Company has a low return on equity of 12.9% over last 3 years.

Shareholding Pattern

Promoters50.14%
FIIs15.73%
DIIs0.23%
Public33.67%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters46.22%46.22%46.22%46.22%46.22%46.22%46.22%50.14%▲3.9
FIIs21.16%19.73%▼1.419.91%▲0.220.06%▲0.120.27%▲0.219.26%▼1.019.38%▲0.115.73%▼3.6
DIIs0.44%1.98%▲1.50.62%▼1.40.63%▲0.00.21%▼0.40.25%▲0.00.24%▼0.00.23%▼0.0
Public31.95%31.84%▼0.133.03%▲1.232.87%▼0.233.08%▲0.234.07%▲1.033.94%▼0.133.67%▼0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,8701,7971,7761,8321,6921,6591,5631,4021,1921,242
Expenses1,5581,4021,4931,4981,4431,3951,3881,2401,1101,208
Operating Profit3133952833342492641751628334
OPM %17%22%16%18%15%16%11%12%7%3%
Net Profit1842522192121521571918676-20
EPS ₹3.14.243.543.432.462.543.091.391.23-0.32

AI Insights

Revenue Trend

TTM revenue at ₹5,399Cr, down 20% YoY. OPM at 8%.

Debt Position

Borrowings at ₹1,904Cr. Debt-to-equity ratio: 0.34x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1,185Cr (40% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.23% (-1.45pp change). FIIs: 15.73% (+0.80pp change). Promoters hold 50.14%.

Margin & Efficiency

ROCE improving from 6% (Mar 2014) to 14% (Mar 2025). Working capital days: 82.

Valuation

PE 13x with 13.8% ROCE. Price is -16% above book value of ₹92.4. Dividend yield: 1.77%.

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