Electrosteel Castings Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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Electrosteel Castings has received a Provisional Compensation Order dated 15 May 2025 from the Ministry of Coal, Government of India, in connection with the Parbatpur Central Coal Mine under the Coal Mines (Special Provisions) Act, 2015. The order estimates Rs. 498.72 Crore as compensation payable to the Company towards the Cost of Geological Report, Cost of Consent, Land and Mine Infrastructure owed to prior allottees. The Company states this amount will have a material impact on its financials, though the final determination of the total compensation is still pending. The Company will inform the exchange once the final order is received.
This is a positive development for shareholders — the Company stands to receive a sizeable compensation of nearly Rs. 499 Crore from the Government for a coal mine-related claim, which could strengthen its balance sheet once finalised. Investors should note that the amount is still provisional and the final order may vary.