Electrosteel Castings Limited stands as a prominent India-based pipeline solution provider, specializing in the manufacturing of ductile iron (DI) pipes, ductile iron fittings (DIF), and cast iron (CI) pipes. The company has established itself as a key player in the water infrastructure sector, providing techno-economic solutions for water supply and sewerage systems.
Electrosteel Castings operates across India, Middle East, Africa, and Europe, positioning itself as one of the largest producers of Ductile Iron Pipes and Fittings globally. The company's manufacturing facilities are strategically spread across five locations in India, serving a diverse customer base spanning the Indian subcontinent, Europe, North and South America, Southeast Asia, Middle East, and Africa.
The company's product portfolio encompasses a comprehensive range of water infrastructure solutions. Their DI pipes and DIF products find applications in water transmission and distribution, desalination plants, storm water drainage systems, and sewage treatment plants. The company offers an extensive range of products including pipes, fittings, valves, hydrants, flanges, manholes, and other accessories, which are widely used in water supply, irrigation, sewerage, and industrial applications.
Beyond their core pipe manufacturing, Electrosteel Castings also produces ductile iron flange pipes, restrained joint pipes, cement, and ferro alloys. The company primarily engages in the production of ductile iron pipes used extensively in water supply and sewerage systems, playing a significant role in urban development and water management systems.
Electrosteel Castings Limited has a market capitalization of ₹8,006 Crore as of July 2025. The company's financial performance reflects the challenges and opportunities in the infrastructure sector.
For Q4 FY2025, Electrosteel Castings reported revenue of ₹1,739.33 Crore and net profit of ₹168.31 Crore. For the full year ending March 2025, the company posted a net profit of ₹709.56 Crore, representing a 4.10% decline from the previous year's ₹739.89 Crore, while sales declined 2.11% to ₹7,319.97 Crore from ₹7,478.01 Crore in FY2024.
- Revenue (FY25): ₹7,319.97 Crore
- Net Profit (FY25): ₹709.56 Crore
- Net Profit (Q4 FY25): ₹168.31 Crore
- Revenue (Q4 FY25): ₹1,739.33 Crore
- Market Cap: ₹8,006 Crore (as of July 2025)
- Dividend Yield: 1.11%
- P/E Ratio: 10.6
The Board of Directors recommended a final dividend of ₹1.40 per share (140%) for FY2025, subject to shareholder approval.
The company has established a strong international presence through its subsidiaries, including Electrosteel Castings (UK) Limited, Electrosteel Algerie SPA, Electrosteel Doha for Trading LLC, Electrosteel Castings Gulf FZE, and Electrosteel Brasil Ltda.
In a significant strategic move, Electrosteel announced the acquisition of 100% stake in Italy's T.I.S Services S.p.A for up to Euro 15 million in May 2025. This acquisition demonstrates the company's commitment to expanding its European operations and enhancing its technological capabilities.
The company is strategically positioned to benefit from growing investments in water infrastructure, with plans to expand its production capacity to 1 million tons by FY26. Management expects improved capacity utilization and recovery in market demand, particularly from government initiatives like the Jal Jeevan Mission, with optimism about future EBITDA improvements supported by operational efficiency and strategic market expansions.
Despite its strong market position, Electrosteel Castings faces challenges including production shutdowns and reduced market demand, which contributed to a dip in total income for FY25. The company has had to manage planned shutdowns of its MBF production facility at Khardah for maintenance work, impacting short-term production.
The company has shown a relatively low return on equity of 12.4% over the last three years, though it has delivered good profit growth of 31.6% CAGR over the last five years.
Market analysts maintain a positive outlook on Electrosteel Castings, with 100% of analysts recommending a 'BUY' rating for the stock. The company's fundamental strength in the essential infrastructure sector and its strategic expansion initiatives position it well for long-term growth, despite short-term operational challenges.
