Electrosteel Castings Ltd
Electrosteel Castings Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Expect strong rebound in domestic demand starting calendar year 2026 as government funding for projects resumes after current scrutiny and course correction (Page 6, 3, 4). Net profit is expected to recover to around INR 150 crore per quarter by Q2 FY27, with a pickup starting in Q1 FY27.
From Electrosteel Castings Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Expect strong rebound in domestic demand starting calendar year 2026 as government funding for projects resumes after current scrutiny and course correction (Page 6, 3, 4).
- Sales volume guidance: around 5.5-6 lakh tons for FY26, expected increase to 8-8.5 lakh tons next year (FY27) as demand improves and production ramps up (Pages 6, 7, 8).
- Valves acquisition in Europe (~INR 350 crores revenue last year) expected to grow 10% this year and show decent growth starting next year, with integration completing by end FY26 (Pages 13-14).
- Expansion in valves product portfolio anticipated to diversify revenue streams and improve margins (Pages 9, 13-14).
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Profitability & Margins
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Capital Expenditure Plans
- Current year CAPEX is focused mainly on sustenance, including rebuilding one battery at Srikalahasthi, estimated around INR 300 crores.
- Planned maintenance and debottlenecking CAPEX for the next 3-4 years is projected to be approximately INR 500 crores.
- Expansion CAPEX, such as the 1 lakh ton DI pipes capacity addition, is currently on hold pending inventory cleanup and ramp-up to 850,000 tons capacity.
- When decided, adding 1 lakh ton DI pipes capacity is expected to take about 6-8 months and require around INR 60 crores CAPEX.
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Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- There is a significant pending order backlog, with about 6-7 months of orders pending in the system.
- Approximately 60% of pending orders are from the Jal Jeevan Mission (JJM), domestic orders account for 50-55%, while the balance includes non-JJM and export orders.
- The company has adequate order book demonstrating pending work, though actual dispatch is limited due to fund release delays and government scrutiny.
- Current slowdown in dispatches is mainly due to the government temporarily stopping funds to investigate complaints and financial irregularities.
- Export market volume grew by 8% year-on-year, partially offsetting weaker domestic demand.
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Electrosteel Castings Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.5K Cr, net profit ₹16 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Electrosteel Castings Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Electrosteel Castings Ltd Q2 FY26 results?
Expect strong rebound in domestic demand starting calendar year 2026 as government funding for projects resumes after current scrutiny and course correction (Page 6, 3, 4). Net profit is expected to recover to around INR 150 crore per quarter by Q2 FY27, with a pickup starting in Q1 FY27.
What is Electrosteel Castings Ltd share price analysis?
Electrosteel Castings Ltd currently shows a neutral. The stock trades at a P/E of 29.8 with a market cap of ₹4,743 Cr. Investors should review the full earnings analysis for detailed insights.
Is Electrosteel Castings Ltd planning capital expenditure?
Current year CAPEX is focused mainly on sustenance, including rebuilding one battery at Srikalahasthi, estimated around INR 300 crores.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.