Electrosteel Castings Ltd, established in 1955 and headquartered in Kolkata, West Bengal, is a leading manufacturer of ductile iron pipes in the Indian subcontinent. With a production capacity of 280,000 metric tons per annum, the company has carved a niche in the infrastructure sector, specializing in a diverse range of products including ductile iron (DI) pipes, ductile iron fittings (DIF), cast iron (CI) pipes, flange pipes, restrained joint pipes, and various cement and ferro alloys.
Electrosteel Castings Ltd has a strong global footprint, exporting about 50% of its products to numerous regions such as Europe, the USA, South America, Southeast Asia, the Middle East, and Africa. The company maintains high standards in quality and environmental management, as reflected in its accreditations, which include ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, along with certifications from the British Standards Institute (BSI) and other international bodies. Financially, for the year ending March 31, 2023, Electrosteel reported a total income of ₹7,360.42 crores (approximately $880 million) and a net profit of ₹315.80 crores (around $38 million), underscoring its robust market position and steady growth trajectory.
Latest News on Electrosteel Castings Ltd
Recently, the India Opportunities Growth Fund sold a 1.7% stake in Electrosteel Castings, amounting to a total of ₹219 crore. The transaction saw the shares being sold at an average price of ₹209.03 per share. This move reflects the fund’s decision to partially divest its holdings in Electrosteel Castings, which could influence market perceptions and the company’s stock performance in the near term. The sale represents a significant shift in the fund’s investment strategy concerning Electrosteel Castings.
Recent Achievements
Electrosteel Castings Ltd has recently garnered significant recognition and maintained its momentum in innovation within the water infrastructure sector. The company was honored with the ‘Iconic Brands of India 2023’ award by ET Edge, underscoring its prominent position in the industry. Alongside this achievement, Electrosteel has continued to drive innovation in water infrastructure and pipeline solutions, playing a crucial role in enhancing global water management projects. These accomplishments reflect the company’s dedication to pioneering sustainable water solutions across the globe.
Shareholding patterns of Electrosteel Castings Ltd
| 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 |
Over the period from June 2023 to June 2024, the shareholding pattern of the company reflects notable changes across various categories. The promoters’ stake remained stable at 44.08% from June to December 2023 but increased to 46.22% by March 2024, maintaining this level through June 2024. Meanwhile, Foreign Institutional Investors (FIIs) consistently raised their holdings from 14.93% in June 2023 to 21.16% in June 2024, indicating a surge in foreign interest. In contrast, Domestic Institutional Investors (DIIs) reduced their share from 1.68% to 0.44% during this period, and the government’s stake saw a minor decline from 0.24% to 0.23%. Public shareholding dropped from 39.06% in June 2023 to 31.95% by June 2024, suggesting a shift of shares towards institutional and promoter groups. Additionally, the number of shareholders increased significantly from 92,955 to 1,33,861, highlighting growing interest from retail investors.
How to Buy Electrosteel Castings Limited Shares in India?
Below are the trading platforms that you can use to purchase Electrosteel Castings Limited shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
Electrosteel Castings Share Price Prediction: 2024 To 2030
Electrosteel Castings Share Price Target 2024
| When | Maximum Price | Minimum Price |
| September 2024 | 241.05 | 209.61 |
| October 2024 | 238.67 | 207.54 |
| November 2024 | 248.21 | 215.84 |
| December 2024 | 250.70 | 218.00 |
In September 2024, the maximum price of Electrosteel Castings is expected to reach ₹241.05, while the minimum price may settle around ₹209.61. Moving forward, as we approach October 2024, the stock could see a slight dip, with a maximum price of ₹238.67 and a minimum of ₹207.54. As we continue to November 2024, Electrosteel Castings’ share price may climb again, reaching a maximum of ₹248.21 and a minimum of ₹215.84. Finally, as we close the year in December 2024, the stock is anticipated to further strengthen, with the maximum price reaching ₹250.70 and the minimum price at ₹218.00.
Electrosteel Castings Share Price Target 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 253.20 | 194.77 |
| February 2025 | 255.76 | 196.74 |
| March 2025 | 261.13 | 200.87 |
| April 2025 | 258.55 | 198.88 |
| May 2025 | 251.02 | 193.09 |
| June 2025 | 262.31 | 201.78 |
| July 2025 | 257.17 | 197.82 |
| August 2025 | 265.12 | 203.94 |
| September 2025 | 268.30 | 206.39 |
| October 2025 | 275.28 | 211.75 |
| November 2025 | 282.16 | 217.05 |
| December 2025 | 294.86 | 226.81 |
As we step into 2025, Electrosteel Castings’ share price is expected to range from a maximum of ₹253.20 and a minimum of ₹194.77 in January to ₹255.76 and ₹196.74 in February. The price could rise to ₹261.13 in March and ease slightly to ₹258.55 in April, before dipping to ₹251.02 in May. June might see a rebound to ₹262.31, with July stabilizing around ₹257.17. August could reach a higher ₹265.12, followed by gains to ₹268.30 in September and further to ₹275.28 in October. As November approaches, prices might climb to ₹282.16, and by December, end the year with a peak at ₹294.86.
Electrosteel Castings Share Price Target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 303.70 | 233.62 |
| February 2026 | 296.11 | 227.78 |
| March 2026 | 302.03 | 232.33 |
| April 2026 | 308.20 | 237.08 |
| May 2026 | 305.15 | 234.73 |
| June 2026 | 312.77 | 240.60 |
| July 2026 | 306.64 | 235.88 |
| August 2026 | 316.13 | 243.17 |
| September 2026 | 322.45 | 248.04 |
| October 2026 | 330.83 | 254.49 |
| November 2026 | 339.10 | 260.85 |
| December 2026 | 347.58 | 267.37 |
Electrosteel Castings Share Price Target 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 351.06 | 270.04 |
| February 2027 | 360.06 | 276.97 |
| March 2027 | 374.10 | 287.77 |
| April 2027 | 366.76 | 282.13 |
| May 2027 | 356.08 | 273.91 |
| June 2027 | 372.11 | 286.24 |
| July 2027 | 364.81 | 280.62 |
| August 2027 | 376.09 | 289.30 |
| September 2027 | 389.26 | 299.43 |
| October 2027 | 399.38 | 307.21 |
| November 2027 | 409.36 | 314.89 |
| December 2027 | 419.59 | 322.77 |
Electrosteel Castings Share Price Target 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 427.99 | 329.22 |
| February 2028 | 438.96 | 337.66 |
| March 2028 | 456.08 | 350.83 |
| April 2028 | 447.14 | 343.95 |
| May 2028 | 434.11 | 333.93 |
| June 2028 | 453.65 | 348.96 |
| July 2028 | 444.75 | 342.12 |
| August 2028 | 458.51 | 352.70 |
| September 2028 | 474.56 | 365.04 |
| October 2028 | 486.90 | 374.53 |
| November 2028 | 499.07 | 383.90 |
| December 2028 | 511.54 | 393.50 |
Electrosteel Castings Share Price Target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 521.78 | 401.37 |
| February 2029 | 535.15 | 411.66 |
| March 2029 | 556.03 | 427.71 |
| April 2029 | 545.12 | 419.33 |
| May 2029 | 529.25 | 407.11 |
| June 2029 | 553.06 | 425.43 |
| July 2029 | 542.22 | 417.09 |
| August 2029 | 558.99 | 429.99 |
| September 2029 | 578.55 | 445.04 |
| October 2029 | 593.59 | 456.61 |
| November 2029 | 608.43 | 468.03 |
| December 2029 | 623.64 | 479.73 |
Electrosteel Castings Share Price Target 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 636.12 | 489.32 |
| February 2030 | 652.43 | 501.87 |
| March 2030 | 677.87 | 521.44 |
| April 2030 | 664.58 | 511.22 |
| May 2030 | 645.22 | 496.33 |
| June 2030 | 674.26 | 518.66 |
| July 2030 | 661.04 | 508.49 |
| August 2030 | 681.48 | 524.22 |
| September 2030 | 705.34 | 542.57 |
| October 2030 | 723.67 | 556.67 |
| November 2030 | 741.77 | 570.59 |
| December 2030 | 760.31 | 584.85 |
As we step into 2030, Electrosteel Castings’ share price is expected to exhibit a dynamic range, starting with a maximum of ₹636.12 and a minimum of ₹489.32 in January. February might see the price increase to ₹652.43, with March potentially reaching a peak of ₹677.87. In April, the price may stabilize around ₹664.58, before softening to ₹645.22 in May. By June, the price could rebound to ₹674.26, followed by a steadying at ₹661.04 in July. As August arrives, prices might reach up to ₹681.48, continuing an upward trend to ₹705.34 in September and further to ₹723.67 in October. As we approach November, the price is likely to rise to ₹741.77, with December expected to conclude the year at a high of ₹760.31.
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, Electrosteel Castings Ltd has demonstrated a strong and improving financial performance. The company’s sales grew consistently, from ₹2,711 crore in March 2020 to ₹7,478 crore in March 2024, reflecting a compound growth trend. Correspondingly, expenses also increased but at a relatively controlled pace, reaching ₹6,274 crore in March 2024. As a result, the operating profit showed a robust upward trajectory, moving from ₹391 crore in March 2020 to ₹1,204 crore in March 2024, with the operating profit margin (OPM) fluctuating but ultimately strengthening to 16% in March 2024 and further improving to 18% in the trailing twelve months (TTM).
The company’s other income remained modest, with some volatility noted, particularly in 2021, where it was negative. Interest expenses showed a gradual decline over time, which indicates effective debt management. Despite a dip in profit before tax in March 2021, primarily due to a significant tax rate of 72%, the figures rebounded strongly to ₹937 crore in March 2024 and further to ₹1,142 crore in TTM. The net profit followed a similar trend, turning from a loss of ₹91 crore in March 2021 to a substantial profit of ₹740 crore in March 2024 and further to ₹891 crore in TTM. The EPS also reflected this growth, improving significantly from ₹3.72 in March 2020 to ₹11.97 in March 2024, and reaching ₹14.69 in TTM. Dividend payout percentages were positive overall, aside from a decline in 2021, highlighting a commitment to shareholder returns as profitability improved. Overall, these metrics illustrate a resilient financial strategy and a positive outlook for Electrosteel Castings Ltd.
FAQS
As of 10th September 2024, the current share price of Electrosteel Castings is around ₹222.
The share price target for Electrosteel Castings for 2030 is expected to range between ₹489.32 and ₹760.31, with the highest target price observed in December 2030.
What is Electrosteel Castings share price target for 2025?
Electrosteel Castings share price target for 2025 indicates that Electrosteel Castings may be trading in the range of ₹193.09 and ₹294.86.
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Conclusion
Electrosteel Castings Ltd, established in 1955, has solidified its position as a leading manufacturer of ductile iron pipes, with a significant global footprint and robust financial performance. The company’s revenue and net profit have shown consistent growth, with a total income of ₹7,360.42 crores and a net profit of ₹315.80 crores for the year ending March 31, 2023. The shareholding pattern has witnessed increased interest from Foreign Institutional Investors (FIIs), while promoters have also raised their stake. Meanwhile, the public shareholding has declined, reflecting a shift towards institutional and promoter groups. The stock price projections suggest a steady upward trajectory from 2024 to 2030, indicating positive market sentiment and growth potential. Recent recognitions and achievements underscore Electrosteel’s commitment to innovation and sustainability in the water infrastructure sector.
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