Arthneeti

Electrosteel Castings Q1 FY27 Share Price & Earnings Call Analysis

₹63.56-4.98% today
Market cap
₹3,929 Cr
P/E
24.71
ROE
3.04%
PEG
-1.39
Price to sales
0.67
Debt to equity
0.26
52W high / low
₹93.6 / ₹61.1
Sales growth (5Y)
11.24%
EBITDA margin
4.99%
Net profit margin
3.00%
Promoter holding
54.53%
Sales (last year)
₹5,786 Cr

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]

Guidance scorecard · Q1 FY27 call

What Electrosteel Castings Ltd's management guided
and where it ranks in Industrial Products

#80of 100 in
Industrial Products
Revenue10–20%MarginsUp 2%+CapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

10–20%
  • DI pipe volumes for FY27 expected around 575,000 tons, slightly lower than earlier 650,000-700,000 tons guidance due to slower JJM rollout in H1; growth expected in H2 FY27 and Q4 FY27-Q1 FY28.
  • By FY30-FY31, revenue expected to grow to around Rs. 7,000-8,000 crores with EBITDA margins of 13%-13.5%.
  • Paint and coating business revenue target increased from Rs. 600 crores to Rs. 800-1,000 crores in next 4-5 years with capital outlay rising from Rs. 100 crores to Rs. 250-300 crores, including inorganic growth plans.
  • Valve business expected to grow at 18-20%+ annually, potentially doubling revenue from Rs. ~400 crores to Rs. 800-1,000 crores in 4 years.

2 more points from Electrosteel Castings Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 2%+

See what Electrosteel Castings Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Additional equipment procurement is underway, expected to be installed within three months.
  • Industrial paints expansion with an initial investment of approx. Rs. 100 crores to increase capacity 4x at a West Bengal brownfield facility.
  • Total capital outlay for industrial paints division raised from Rs. 100 crores to Rs. 250-300 crores aiming for Rs. 800-1000 crore revenue in 4-5 years. First two years target Rs. 250-300 crore revenue, scaling up thereafter.
  • Valve manufacturing facility in India to commence operations by end FY, aimed to double valve revenue in next 4 years.
  • Expansion in ferroalloy business through brownfield investment at existing unit in West Bengal to increase capacity.

2 more points from Electrosteel Castings Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Electrosteel Castings Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • Current executable order book is around 3 lakh tons, equivalent to approximately five months of orders.
  • About 50% of the order book pertains to Jal Jeevan Mission (JJM).
  • Approximately 12%-13% market share in the Rs. 10,000 crore already sanctioned government orders under JJM.
  • Expect similar share in the additional Rs. 50,000-55,000 crore yet to be sanctioned.

2 more points from Electrosteel Castings Ltd's call on the order book

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Full Q1 FY27 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Electrosteel Castings Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹532 Cr21.2
240%+Up 2%+₹450 Cr13.2
340%+Up 2%+₹371 Cr26.1
440%+Up 0–2%₹1,340 Cr32.9
540%+Up 0–2%₹1,196 Cr14.1
640%+Flat₹966 Cr25.0

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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of Electrosteel Castings Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Electrosteel Castings Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +1,8721,6851,9191,8692,0042,0121,8281,7801,7011,5581,3961,4721,493
Expenses +1,6801,5251,6191,4631,6931,6581,5601,5251,5411,3871,3031,4381,431
Operating Profit193160300406311354268255160170933462
OPM %10%10%16%22%16%18%15%14%9%11%7%2%4%
Other Income +36271823342421393928951637
Interest77575753524140453536383732
Depreciation31303030343236373741434544
Profit before tax121100231346260305212213126121107-3223
Tax %26%25%24%24%13%26%27%25%-33%27%27%-31%29%
Net Profit +89751752632272261551601688978-2216
EPS in Rs1.501.262.944.433.673.652.512.592.721.441.27-0.350.26

Financials of Electrosteel Castings Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +2,4022,2042,0792,2632,6992,7113,4745,2817,2767,4787,3205,918
Expenses +2,0911,9111,7912,0062,2952,3203,0384,5866,5306,2746,2705,559
Operating Profit3112932882574043914366957461,2041,050359
OPM %13%13%14%11%15%14%13%13%10%16%14%6%
Other Income +59710080-1378-194597776109176
Interest157180210210235228208195286219161144
Depreciation71676762595790115121125142173
Profit before tax1445211165-26114-56444415937856219
Tax %19%32%30%-2%-70%25%72%22%24%21%17%26%
Net Profit +-116-2714412439161-91348316740710161
EPS in Rs-3.25-0.774.043.470.943.72-2.115.845.3111.9711.482.61
Dividend Payout %-20%-65%12%9%0%8%-16%14%17%12%12%34%

Financials of Electrosteel Castings Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital363636364143595959626262
Reserves2,0342,4552,3492,4432,5952,8373,6674,0444,3235,0515,7205,862
Borrowings +2,5722,1852,0571,6971,7611,7362,1382,9672,6672,3322,1251,561
Other Liabilities +5751,0321,0781,2251,0259771,2891,5541,4691,6631,7881,977
Total Liabilities5,2185,7085,5195,4015,4215,5937,1528,6248,5199,1089,6959,461
Fixed Assets +1,1541,7801,7071,6781,6331,7032,6332,7632,7312,9283,1023,212
CWIP1,2861,2781,2101,2021,2371,1661,3371,2081,3021,2291,2491,186
Investments766786590637684747202457161204145578
Other Assets +2,0121,8632,0131,8841,8681,9772,9804,1964,3244,7475,2004,486
Total Assets5,2185,7085,5195,4015,4215,5937,1528,6248,5199,1089,6959,461

Financials of Electrosteel Castings Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +443533421450-46225444-2794528064801,147
Cash from Investing Activity +-2167172-6933-20129-329168-37-138-136
Cash from Financing Activity +-236-592-332-574-5-220-419609-604-720-454-900
Net Cash Flow-812162-193-18-1615411749-112110
Free Cash Flow348495529421-103166312-4582685652061,041
CFO/OP147%186%156%180%-7%60%112%-24%78%86%67%337%

Financials of Electrosteel Castings Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days788981858283816553677466
Inventory Days212225249219228278279331208221249276
Days Payable90121109121941201029354535663
Cash Conversion Cycle200192220182217242258303207234267278
Working Capital Days-101127526243133435579125
ROCE %6%5%6%6%9%8%8%10%10%16%13%5%

Guidance history

How Electrosteel Castings Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Up 2%+Planned—Rising
Q4 FY26 call →10–20%FlatPlanned—Flat
Q3 FY26 call →10–20%FlatPlanned—Flat
Q2 FY26 call →10–20%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

12out of 100

Momentum score · price trend

12 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−31.6%22%
Last 6 months−22.5%17%
Last 3 months−10.0%45%

The price is 72.5% below its all-time high of ₹230.91 (13 Sept 2024). Stocks more than 20% below their peak have their score halved, so 25 became 12.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Electrosteel Castings Ltd: 0.4 × 22 + 0.4 × 17 + 0.2 × 45 = 25, halved to 12 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Electrosteel Castings Ltd's management said in earlier quarters

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