Electrosteel Castings Limited has informed the Exchange that Board of Directors at its meeting held on May 18, 2026, recommended Final Dividend of Rs. 0.90 per equity share.
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Electrosteel Castings Limited's Board approved FY2026 audited consolidated results showing revenue of Rs. 5,91,802 lakhs and profit after tax of Rs. 16,147.53 lakhs, compared to Rs. 7,31,996.71 lakhs revenue and Rs. 70,971.28 lakhs PAT in FY2025—a significant decline in profitability year-on-year. The Board recommended a final dividend of Rs. 0.90 per equity share (90% on Re. 1 face value), pending shareholder approval at AGM. Key leadership changes include re-appointment of Whole-time Director Mr. Uddhav Kejriwal, appointment of Mr. Rajkumar Khanna as Chairman, and reconstitution of the Nomination Committee. The company also approved entry into the Industrial Paints & Protective Coatings market with a planned investment of Rs. 80-100 crore. Statutory auditors issued a qualified opinion citing unresolved issues related to cancelled coal block compensation and disputed investments in ESL Steel Limited.
The 77% decline in annual PAT and qualified audit opinion may concern investors, though the maintained dividend payout signals management confidence. The new business diversification into Rs. 29,000 crore paints and coatings market could drive long-term growth but requires significant capital deployment.