Electrosteel Castings Limited has informed the Exchange regarding Change in Director(s) of the company.
ELECTCAST · price
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Electrosteel Castings reported audited FY2026 consolidated results with revenue of Rs 5,91,802 lakhs, down from Rs 7,31,997 lakhs in FY2025. Q4 FY26 profit before tax stood at Rs 2,266 lakhs versus Rs 12,636 lakhs in Q4 FY25. The Board recommended a final dividend of Rs 0.90 per share (90%) for FY2026. Key board changes include re-appointment of Whole-time Director Mr. Uddhav Kejriwal for 5 years from June 16, 2026, appointment of Mr. Rajkumar Khanna as Chairman of the Board (succeeding Dr. Ajay Kumar who resigned), and reconstitution of the Nomination and Remuneration Committee. The auditors issued a qualified opinion citing pending matters related to a cancelled coal block compensation claim and investment disputes in ESL Steel Limited. The company also approved entry into the Industrial Paints and Protective Coatings market with planned investment of Rs 80-100 crore.
The stock may see mixed reaction due to lower year-on-year profitability, but new business diversification into paints and coatings (estimated Rs 29,000 crore market growing at 10% CAGR) and continuity in leadership through director re-appointments could provide long-term positive sentiment. The ongoing legal disputes with ESL Steel and coal block compensation create some uncertainty.