Electrosteel Castings Ltd. (IN:ELECTCAST)
:ELECTCAST
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Electrosteel Castings Ltd.
(ELECTCAST)
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Rating:63Neutral
Price Target:
₹83.00
▲(9.54% Upside)
Action:Reiterated
Date:05/21/26
The score is primarily supported by improved balance-sheet resilience and strong recent cash flow, but it is held back by a sharp 2026 deterioration in profitability and weak technical momentum. Valuation is also constrained by the negative P/E despite a modest dividend yield.
Positive Factors
Balance-sheet resilience (lower leverage)
A materially lower debt-to-equity ratio improves financial flexibility for a cyclically exposed steel/pipe manufacturer. Reduced leverage cuts refinancing risk, supports bid-level working capital and capex for tenders, and strengthens the firm's ability to weather cyclical downturns.
Negative Factors
Sharp revenue decline and volatility
A near-term revenue drop of ~19% signals demand weakness or lost tender share, reducing operating leverage and stressing fixed-cost absorption. For a tender-driven infrastructure supplier, persistent revenue volatility undermines visibility and planning for production and investment decisions.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet resilience (lower leverage)
A materially lower debt-to-equity ratio improves financial flexibility for a cyclically exposed steel/pipe manufacturer. Reduced leverage cuts refinancing risk, supports bid-level working capital and capex for tenders, and strengthens the firm's ability to weather cyclical downturns.
Read all positive factors
Electrosteel Castings Ltd. (ELECTCAST) vs. iShares MSCI India ETF (INDA)
Market Cap
₹48.27B
Dividend Yield1.82%
Average Volume (3M)127.81K
Price to Earnings (P/E)28.2
Beta (1Y)1.43
Revenue Growth-19.12%
EPS Growth-77.24%
CountryIN
Employees2,901
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)8.02
Shares Outstanding618,184,600
10 Day Avg. Volume162,130
30 Day Avg. Volume127,811
Financial Highlights & Ratios
PEG Ratio-0.37
Price to Book (P/B)0.77
Price to Sales (P/S)0.77
P/FCF Ratio4.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.3
Revenue Forecast (FY)₹67.59B
Electrosteel Castings Ltd. Business Overview & Revenue Model
Company Description
Electrosteel Castings Limited manufactures and supplies ductile iron (DI) pipes, DI fittings and accessories, and cast iron (CI) pipes in India and internationally. It offers DI pipes, such as electrolock restraint joint pipes and fittings; ductil...
How the Company Makes Money
Electrosteel Castings earns revenue mainly by manufacturing and selling ductile iron (DI) pipes used in water transmission/distribution and sewerage networks. Its core revenue stream is the sale of DI pipes in various diameters/specifications; dep...
Electrosteel Castings Ltd. Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
72
Positive
Cash Flow
79
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 64.31B | 59.18B | 73.20B | 74.78B | 72.76B | 52.65B |
| Gross Profit | 32.78B | 19.74B | 37.10B | 36.37B | 32.87B | 19.94B |
| EBITDA | 8.38B | 3.59B | 10.36B | 12.59B | 8.22B | 7.51B |
| Net Income | 4.96B | 1.61B | 7.10B | 7.40B | 3.16B | 3.47B |
Balance Sheet | ||||||
| Total Assets | 99.11B | 94.61B | 96.95B | 91.08B | 85.19B | 86.24B |
| Cash, Cash Equivalents and Short-Term Investments | 9.86B | 8.64B | 3.02B | 5.03B | 5.07B | 7.08B |
| Total Debt | 22.23B | 15.61B | 21.25B | 23.32B | 26.67B | 29.67B |
| Total Liabilities | 40.16B | 35.37B | 39.13B | 39.94B | 41.35B | 45.19B |
| Stockholders Equity | 58.94B | 59.23B | 57.82B | 51.13B | 43.83B | 41.03B |
Cash Flow | ||||||
| Free Cash Flow | 3.38B | 9.80B | 2.03B | 5.61B | 2.65B | -4.74B |
| Operating Cash Flow | 4.11B | 11.10B | 4.80B | 8.06B | 4.52B | -2.79B |
| Investing Cash Flow | -2.17B | -2.35B | -1.42B | -365.17M | 1.68B | -3.29B |
| Financing Cash Flow | -1.63B | -7.64B | -4.54B | -7.20B | -6.04B | 6.09B |
Electrosteel Castings Ltd. Technical Analysis
Negative
75.77
Price Trends
79.43
Negative
76.15
Positive
83.69
Negative
Market Momentum
-0.46
Positive
43.28
Neutral
18.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ELECTCAST, the sentiment is Negative. The current price of 75.77 is below the 20-day moving average (MA) of 84.42, below the 50-day MA of 79.43, and below the 200-day MA of 83.69, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 43.28 is Neutral, neither overbought nor oversold. The STOCH value of 18.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ELECTCAST.
Electrosteel Castings Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹60.70B | 15.56 | ― | 2.18% | -5.33% | -29.92% | |
67 Neutral | ₹109.01B | 12.72 | ― | 0.18% | 62.31% | 39.66% | |
63 Neutral | ₹48.27B | 28.22 | ― | 1.82% | -19.12% | -77.24% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ₹38.00B | 16.52 | ― | 0.19% | -7.72% | 0.07% | |
54 Neutral | ₹51.36B | 7.37 | ― | 1.60% | 14.39% | ― | |
43 Neutral | ₹60.88B | 86.25 | ― | ― | 4.34% | -8.66% |
* Basic Materials Sector Average
IN:ELECTCAST
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Electrosteel Castings Ltd. Corporate Events
Electrosteel Castings Launches Postal Ballot, Publishes E-Voting Notice
Mar 14, 2026
Electrosteel Castings Ltd. has notified the stock exchanges that it has published a public notice in newspapers regarding a postal ballot process and related e-voting arrangements for its shareholders. The company stated that advertisements appear...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.