Electrosteel Castings (ELECTCAST) — Financial Results

Investor Takeaways

Reported consolidated total income of ₹1,465 crores and PAT of ₹48.4 crores for Q1 FY27

EBITDA reached ₹139 crores with margin of 9.5%

Export volumes reached 21,000 tons, targeting 22-25% of FY27 volumes for Western markets

FY27 DI pipe volume guidance revised downward to 575,000 tons due to delayed Jal Jeevan Mission fund releases

Targeting 12-13% EBITDA margin by Q4 FY27; Rs 100 crore paint capacity expansion planned in West Bengal

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹1,465 Cr	N/A
Net Profit	₹48.4 Cr	N/A
EBITDA	₹139 Cr	N/A
EBITDA Margin	9.5%	Improved from prior quarter
EPS	Not available	N/A
OPM	Not available	N/A

What Changed

Electrosteel Castings reported consolidated total income of ₹1,465 crores and PAT of ₹48.4 crores for Q1 FY27, with EBITDA at ₹139 crores (9.5% margin). The company revised FY27 DI pipe volume guidance downward to 575,000 tons due to delayed Jal Jeevan Mission fund releases, while highlighting cost optimization, industrial paint expansion, and government infrastructure tailwinds as key growth drivers. Export volumes reached 21,000 tons, targeting 22-25% of FY27 volumes for Western markets. EBITDA margin improved to 9.5% from prior quarter. The company also outlined plans to target 12-13% EBITDA margin by Q4 FY27, pursue Rs 100 crore paint capacity expansion in West Bengal, achieve phased revenue growth to Rs 500-1,000 crores by FY30, and reduce debt to Rs 230 crores.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Electrosteel Castings Limited (ELECTCAST)	6.58	N/A	N/A	5,066.64
Bharat Electronics Limited (BEL)	62.03	N/A	N/A	3,09,678.78
Hindustan Aeronautics Limited (HAL)	33.73	N/A	N/A	2,93,338.09
Cummins India Limited (CUMMINSIND)	74.38	N/A	N/A	1,49,466.24

Electrosteel Castings trades at a significant discount to peers on P/E ratio compared to BEL, HAL, and Cummins India.

Risks & Concerns

Delay in Jal Jeevan Mission fund releases impacting volume guidance execution

Volume guidance reduction to 575,000 tons for FY27

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	1,776.66	160.17	14.35
Q2FY25	1,827.8	155.2	14.64
Q1FY25	2,011.9	226.04	17.57
Q4FY24	2,004.26	227.15	15.53

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About Electrosteel Castings Limited (ELECTCAST)

Capital Goods · Castings, Forgings & Fastners · Listed on NSE

Market Cap: ₹5,152.57 Cr P/E: 42.5 ROE: 2.0% ROCE: 4.0% Div Yield: 1.08%

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🔥 Also filed on 12 August 2026

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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