Electrosteel Castings Ltd, founded in 1955 and headquartered in Kolkata, West Bengal, is a leading Indian manufacturer of ductile iron pipes, with a production capacity of 280,000 metric tons per annum. The company offers a diverse range of products, including ductile iron (DI) pipes, ductile iron fittings (DIF), cast iron (CI) pipes, flange pipes, and restrained joint pipes, along with various cement and ferro alloys. With approximately 50% of its products exported to markets across Europe, the USA, South America, Southeast Asia, the Middle East, and Africa, Electrosteel Castings Ltd has established a strong global presence. The company is accredited with several international certifications, including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, and its products are certified by the British Standards Institute (BSI) and other global bodies. For the financial year ending March 31, 2023, Electrosteel reported a total income of ₹7,360.42 crores (around $880 million) and a net profit of ₹315.80 crores (approximately $38 million), reflecting its strong financial performance and market leadership.
Recent News on Electrosteel Castings Ltd
The India Opportunities Growth Fund has recently divested a 1.7% stake in Electrosteel Castings, raising ₹219 crore from the sale. The shares were sold at an average price of ₹209.03 each. This strategic move marks a partial exit for the fund from its investment in Electrosteel Castings, potentially impacting the company’s stock performance and investor sentiment going forward. The sale underscores a notable adjustment in the fund’s approach to its holdings in the company.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 44.08% | 44.08% | 44.08% | 46.22% | 46.22% |
| FIIs + | 14.93% | 15.33% | 18.18% | 19.70% | 21.16% |
| DIIs + | 1.68% | 0.88% | 0.43% | 0.36% | 0.44% |
| Government + | 0.24% | 0.24% | 0.24% | 0.23% | 0.23% |
| Public + | 39.06% | 39.47% | 37.07% | 33.47% | 31.95% |
| No. of Shareholders | 92,955 | 1,04,970 | 1,08,315 | 1,21,615 | 1,33,861 |
The shareholding pattern of the company shows a dynamic shift across various categories over the period from June 2023 to June 2024. The promoters’ stake remained steady at 44.08% from June 2023 to December 2023 but increased to 46.22% by March 2024 and remained constant through June 2024. Foreign Institutional Investors (FIIs) have been steadily increasing their holdings, moving from 14.93% in June 2023 to 21.16% in June 2024, reflecting growing foreign interest in the company.
Domestic Institutional Investors (DIIs) reduced their stake from 1.68% in June 2023 to 0.44% in June 2024, while the government’s shareholding remained relatively stable, with a slight decrease from 0.24% to 0.23% over the same period. The public shareholding showed a noticeable decline from 39.06% in June 2023 to 31.95% by June 2024, indicating a shift of shares towards institutional and promoter groups. Additionally, the number of shareholders has increased significantly, from 92,955 in June 2023 to 1,33,861 by June 2024, suggesting growing retail investor interest.
Recent Achievements
Electrosteel Castings Ltd has recently achieved notable recognition and continued its innovative strides in the water infrastructure sector. The company was awarded the prestigious ‘Iconic Brands of India 2023’ by ET Edge, highlighting its strong brand presence and market influence. In addition to this accolade, Electrosteel has been at the forefront of innovation in water infrastructure and pipeline solutions, making significant contributions to global water management projects. Through these efforts, the company reinforces its commitment to advancing sustainable water solutions worldwide.
Below are the trading platforms that you can use to purchase Electrosteel Castings Limited shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| September 2024 | 239.95 | 208.66 |
| October 2024 | 237.58 | 206.59 |
| November 2024 | 247.08 | 214.85 |
| December 2024 | 249.55 | 217.00 |
In September 2024, the stock price is expected to range from a minimum of ₹208.66 to a maximum of ₹239.95. Moving into October 2024, the prices may fluctuate between ₹206.59 at the lower end and ₹237.58 at the upper end. As we approach November 2024, the stock price is anticipated to reach a maximum of ₹247.08, while the minimum is likely to be around ₹214.85. Finally, by December 2024, Electrosteel Castings’ stock price is expected to be between ₹217.00 and ₹249.55, potentially reflecting market dynamics and investor sentiment during that period.
| When | Maximum Price | Minimum Price |
| January 2025 | 252.05 | 193.88 |
| February 2025 | 254.59 | 195.84 |
| March 2025 | 259.94 | 199.95 |
| April 2025 | 257.37 | 197.97 |
| May 2025 | 249.87 | 192.21 |
| June 2025 | 261.11 | 200.86 |
| July 2025 | 255.99 | 196.92 |
| August 2025 | 263.91 | 203.01 |
| September 2025 | 267.08 | 205.45 |
| October 2025 | 274.02 | 210.79 |
| November 2025 | 280.87 | 216.06 |
| December 2025 | 293.51 | 225.78 |
In 2025, Electrosteel Castings’ stock prices are projected to see varied movements, beginning with a range from ₹252.05 to ₹193.88 in January. Prices may shift slightly to ₹254.59 to ₹195.84 in February and reach a high of ₹259.94 in March. April and May could see ranges between ₹257.37 to ₹192.21, while June and July are anticipated to range from ₹261.11 to ₹196.92. In August, the price may rise to ₹263.91, with continued growth into September and October, reaching up to ₹267.08 and ₹274.02, respectively. By November and December, the stock might peak at ₹280.87 to ₹293.51.
| When | Maximum Price | Minimum Price |
| January 2026 | 302.32 | 232.55 |
| February 2026 | 294.76 | 226.74 |
| March 2026 | 300.66 | 231.27 |
| April 2026 | 306.79 | 235.99 |
| May 2026 | 303.75 | 233.66 |
| June 2026 | 311.35 | 239.50 |
| July 2026 | 305.24 | 234.80 |
| August 2026 | 314.68 | 242.06 |
| September 2026 | 320.98 | 246.91 |
| October 2026 | 329.32 | 253.32 |
| November 2026 | 337.56 | 259.66 |
| December 2026 | 345.99 | 266.15 |
| When | Maximum Price | Minimum Price |
| January 2027 | 349.45 | 268.81 |
| February 2027 | 358.41 | 275.70 |
| March 2027 | 372.39 | 286.46 |
| April 2027 | 365.09 | 280.84 |
| May 2027 | 354.46 | 272.66 |
| June 2027 | 370.41 | 284.93 |
| July 2027 | 363.14 | 279.34 |
| August 2027 | 374.38 | 287.98 |
| September 2027 | 387.48 | 298.06 |
| October 2027 | 397.55 | 305.81 |
| November 2027 | 407.49 | 313.46 |
| December 2027 | 417.68 | 321.29 |
| When | Maximum Price | Minimum Price |
| January 2028 | 426.03 | 327.72 |
| February 2028 | 436.96 | 336.12 |
| March 2028 | 454.00 | 349.23 |
| April 2028 | 445.10 | 342.38 |
| May 2028 | 432.13 | 332.41 |
| June 2028 | 451.58 | 347.37 |
| July 2028 | 442.72 | 340.56 |
| August 2028 | 456.42 | 351.09 |
| September 2028 | 472.39 | 363.38 |
| October 2028 | 484.67 | 372.83 |
| November 2028 | 496.79 | 382.15 |
| December 2028 | 509.21 | 391.70 |
| When | Maximum Price | Minimum Price |
| January 2029 | 519.39 | 399.53 |
| February 2029 | 532.71 | 409.78 |
| March 2029 | 553.49 | 425.76 |
| April 2029 | 542.64 | 417.41 |
| May 2029 | 526.83 | 405.25 |
| June 2029 | 550.54 | 423.49 |
| July 2029 | 539.74 | 415.19 |
| August 2029 | 556.44 | 428.03 |
| September 2029 | 575.91 | 443.01 |
| October 2029 | 590.88 | 454.53 |
| November 2029 | 605.66 | 465.89 |
| December 2029 | 620.80 | 477.54 |
| When | Maximum Price | Minimum Price |
| January 2030 | 633.21 | 487.09 |
| February 2030 | 649.45 | 499.58 |
| March 2030 | 674.78 | 519.06 |
| April 2030 | 661.55 | 508.88 |
| May 2030 | 642.28 | 494.06 |
| June 2030 | 671.18 | 516.29 |
| July 2030 | 658.02 | 506.17 |
| August 2030 | 678.37 | 521.83 |
| September 2030 | 702.12 | 540.09 |
| October 2030 | 720.37 | 554.13 |
| November 2030 | 738.38 | 567.99 |
| December 2030 | 756.84 | 582.18 |
As we step into 2030, Electrosteel Castings’ stock prices are projected to steadily rise. Starting in January, the price may range from ₹633.21 to ₹487.09, with February reaching up to ₹649.45 and down to ₹499.58. By mid-year, prices in June could range from ₹671.18 to ₹516.29, while August might see them between ₹678.37 and ₹521.83. As we approach the final months, October could range from ₹720.37 to ₹554.13, and by December, the prices may peak between ₹756.84 and ₹582.18, marking a strong end to the year.
Financial Condition of Electrosteel Castings Ltd: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 2,711 | 3,474 | 5,281 | 7,276 | 7,478 | 7,805 |
| Expenses + | 2,320 | 3,038 | 4,586 | 6,530 | 6,274 | 6,433 |
| Operating Profit | 391 | 436 | 695 | 746 | 1,204 | 1,372 |
| OPM % | 14% | 13% | 13% | 10% | 16% | 18% |
| Other Income + | 8 | -194 | 59 | 77 | 76 | 99 |
| Interest | 228 | 208 | 195 | 286 | 219 | 203 |
| Depreciation | 57 | 90 | 115 | 121 | 125 | 126 |
| Profit before tax | 114 | -56 | 444 | 415 | 937 | 1,142 |
| Tax % | 25% | 72% | 22% | 24% | 21% | |
| Net Profit + | 161 | -91 | 348 | 316 | 740 | 891 |
| EPS in Rs | 3.72 | -2.11 | 5.84 | 5.31 | 11.97 | 14.69 |
| Dividend Payout % | 8% | -12% | 14% | 17% | 12% |
Over the past five years, the company’s financial performance has shown significant growth in sales and profitability, despite some fluctuations. From March 2020 to March 2024, the sales increased steadily from ₹2,711 crore to ₹7,478 crore, with a trailing twelve months (TTM) figure of ₹7,805 crore. The operating profit also saw an upward trend, rising from ₹391 crore in March 2020 to ₹1,204 crore in March 2024, with a further increase to ₹1,372 crore in the TTM period. The Operating Profit Margin (OPM %) improved to 16% in March 2024 and further to 18% in the TTM, reflecting enhanced operational efficiency.
The company also experienced growth in net profit, which rose from a loss of ₹91 crore in March 2021 to a profit of ₹740 crore in March 2024 and ₹891 crore in the TTM. The earnings per share (EPS) increased from ₹3.72 in March 2020 to ₹11.97 in March 2024, reaching ₹14.69 in the TTM period. Despite these gains, the company’s interest expenses fluctuated, peaking at ₹286 crore in March 2023 but declining to ₹203 crore in the TTM. The dividend payout percentage varied, standing at 12% in March 2024. Overall, the financials depict a robust recovery and growth trajectory, with improvements in profitability and operational metrics.
FAQs
The share price target for Electrosteel Castings in 2025 ranges from a minimum of ₹192.21 to a maximum of ₹293.51.
The share price target for Electrosteel Castings in 2030 ranges from a minimum of ₹487.09 to a maximum of ₹756.84.
What is Electrosteel Castings current P/E ratio?
Electrosteel Castings current stock P/E ratio is 15.3.
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Conclusion: Electrosteel Castings Journey Towards Sustainable Growth
Electrosteel Castings Ltd has showcased impressive financial performance and market growth, underscored by a substantial increase in sales and net profit over the past five years. The company’s robust product range, strong global presence, and recent accolades like the ‘Iconic Brands of India 2023’ reflect its industry leadership and innovative approach. With an upward trend in stock prices projected through 2030 and a solid financial foundation, Electrosteel Castings Ltd is well-positioned for sustained growth and continued success in the global market.
What did we learn?
- 1 Recent News on Electrosteel Castings Ltd
- 2 Shareholding patterns of Electrosteel Castings Ltd
- 3 Recent Achievements
- 4 How to Buy Electrosteel Castings Limited Shares in India?
- 5 Electrosteel Castings Share Price Prediction: 2024 To 2030
- 5.1 Electrosteel Castings Share Price Target 2024
- 5.2 Electrosteel Castings Share Price Target 2025
- 5.3 Electrosteel Castings Share Price Target 2026
- 5.4 Electrosteel Castings Share Price Target 2027
- 5.5 Electrosteel Castings Share Price Prediction 2028
- 5.6 Electrosteel Castings Share Price Target 2029
- 5.7 Electrosteel Castings Share Price Prediction 2030
- 6 Financial Condition of Electrosteel Castings Ltd: Last 5 Years
- 7 FAQs
- 8 Conclusion: Electrosteel Castings Journey Towards Sustainable Growth
