Electrosteel Castings Limited has informed the Exchange about Transcript
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Electrosteel Castings reported FY25 consolidated revenue of Rs. 7,443 crores with EBITDA margin of 15.6% and PAT of Rs. 710 crores (including Rs. 81 crore one-time deferred tax reversal). Q4 FY25 was weak at Rs. 1,739 crores revenue and 11.4% EBITDA margin due to two planned blast furnace shutdowns, which cost roughly 50,000–65,000 tons of production. Management guided FY26 volumes of 8.3–8.5 lakh tons and FY27 volumes crossing 9 lakh tons, with capacity set to reach 1 million tons by FY27 (current 9 lakh tons). The order book stands at 7.5 months, debt has been cut from Rs. 1,800 crores to Rs. 1,400 crores, and the Board declared a 140% dividend (Rs. 1.40/share). Management expects Jal Jeevan Mission (Rs. 67,000 crore FY26 budget), Ken-Betwa river linking project, AMRUT 2.0 and irrigation demand to drive an upcycle from Q2 FY26 onwards.
The call signals a near-term bottoming-out story — Q4 margins and volumes were hurt by shutdowns and weak JJM spending, but management is confident on a medium-term margin recovery (upper end of 15–18% EBITDA band), capacity-led volume growth, and continued debt reduction. Key positives for shareholders: robust order pipeline, dividend continuity, and potential Rs. 1,200 crore coal mine compensation inflow. Watch for JJM fund disbursement pickup from Q2 FY26 and coal mine settlement as near-term catalysts.