Electrosteel Castings Reports Financial Results for Q4 and FY2026
Electrosteel Castings Limited (ECL) announced its audited financial results for the fourth quarter (Q4FY26) and the financial year (FY25-26) ended March 31, 2026. The results highlight the company's consolidated and standalone financial and operational performance across the respective periods.Consolidated Financial Highlights
For the consolidated results, the company recorded a Total Income of INR 6,133 Crores for FY25-26, compared to INR 7,443 Crores in FY24-25, reflecting a Year-on-Year (YoY) decline of 17.6%. Consolidated EBITDA stood at INR 574 Crores in FY25-26. Profit After Tax (PAT) for the full year was INR 161 Crores, down from INR 710 Crores in the previous fiscal year (77.2% YoY decline).The financial metrics for the quarter and the full year are presented below:
| Particulars (INR Crores) | Q4FY26 | Q4FY25 | YOY | Q3FY26 | QOQ | FY 25-26 | FY 24-25 | YOY |
|---|---|---|---|---|---|---|---|---|
| Total Income | 1,530 | 1,739 | (12.0%) | 1,526 | 0.3% | 6,133 | 7,443 | (17.6%) |
| EBITDA* | 99 | 198 | (49.9%) | 88 | 12.7% | 574 | 1,159 | (50.5%) |
| EBITDA Margin | 6.5% | 11.4% | (491bps) | 5.8% | 72bps | 9.4% | 15.6% | (622bps) |
| Profit Before Tax | 23 | 126 | (82.1%) | 7 | 245.4% | 257 | 856 | (70.0%) |
| Exceptional Item | - | - | - | (38) | - | (38) | - | |
| Profit After Tax | 16 | 168 | (90.5%) | (22) | (173.1%) | 161 | 710 | (77.2%) |
| PAT Margin | 1.0% | 9.7% | (863bps) | (1.4%) | 248bps | 2.6% | 9.5% | (690bps) |
| Diluted EPS (in INR) | 0.3 | 2.7 | (90.5%) | (0.4) | (173.0%) | 2.6 | 11.5 | (77.2%) |
In Q4FY26, Total Income declined by 12% YoY to INR 1,530 Crores. Similarly, the full year FY25-26 saw a Total Income decline of 17.6% YoY to INR 6,133 Crores. EBITDA stood at INR 99 Crores for Q4FY26 and INR 574 Crores for FY25-26, achieving an EBITDA margin of 6.5% in the quarter and 9.4% for the full year. PAT for Q4FY26 was INR 16 Crores, and for FY25-26, it was INR 161 Crores. The PAT for FY 25-26 includes a provision of INR 38 crores related to the new labour code.
Standalone Financial Performance
On a standalone basis, ECL reported a significant decline in sales volumes and profitability. Total Income for Q4FY26 fell by 23.3% YoY to INR 1,228 Crores, and for the full year FY25-26, the figure was INR 5,228 Crores, a 23.6% YoY decrease.The standalone EBITDA for Q4FY26 was INR 57 Crores and for FY25-26 was INR 499 Crores. The corresponding EBITDA margins were 4.7% for Q4FY26 and 9.6% for FY25-26. PAT was INR 131 Crores for FY25-26, contrasting with a loss of INR 11 Crores recorded in Q4FY26. The standalone PAT for FY 25-26 also accounts for a provision of INR 38 crores mandated by the new labour code.
The Standalone financial metrics are detailed in the following table:
| Particulars (INR Crores) | Q4FY26 | Q4FY25 | YOY | Q3FY26 | QOQ | FY 25-26 | FY 24-25 | YOY |
|---|---|---|---|---|---|---|---|---|
| Total Income | 1,228 | 1,601 | (23.3%) | 1,290 | (5.6%) | 5,228 | 6,840 | (23.6%) |
| EBITDA* | 57 | 213 | (73.1%) | 83 | (30.6%) | 499 | 1,116 | (55.2%) |
| EBITDA Margin | 4.7% | 13.3% | (864bps) | 6.4% | (170bps) | 9.6% | 16.3% | (676bps) |
| Profit Before Tax | (8) | 149 | (105.1%) | 12 | (163.5%) | 223 | 847 | (73.6%) |
| Exceptional Item | - | - | - | (38) | - | (38) | - | |
| Profit After Tax | (11) | 191 | (105.6%) | (20) | (46.6%) | 131 | 712 | (81.6%) |
| PAT Margin | (0.9%) | 11.9% | (1279bps) | (1.6%) | 67bps | 2.5% | 10.4% | (790bps) |
| Diluted EPS (in INR) | (0.2) | 3.1 | (105.6%) | (0.3) | (46.6%) | 2.1 | 11.5 | (81.6%) |
Operational Volumes
The company also reported significant changes in sales volumes for its primary products.* DI Pipes, Fittings and CI Pipes: In Q4FY26, the sales volume was 1.48 Lakh tons, down from 1.89 Lakh tons in Q4FY25. For the full year FY25-26, the volume was 5.84 Lakh tons, compared to 7.81 Lakh tons in FY24-25.
Industry Outlook
The broader market outlook remains positive for the sector. The Government of India approved the Jal Jeevan Mission 2.0 in March 2026, enhancing the budget outlay to approximately ₹ 8.69 Lakh crores up to December 2028. Notably, the Central Government enhanced its contribution to ₹ 3.59 lakh crores from ₹ 2.08 lakh crores.Industry experts anticipate that demand is expected to restore by early 2nd Quarter of FY 2026-27. The continuation of projects like JJM 2.0, coupled with sustained investment in urban infrastructure, sewerage networks, irrigation systems, and river-linking projects, is projected to create substantial medium- to long-term demand opportunities for the Ductile Iron pipe industry.
ELECTCAST Stock Price Movement
Electrosteel Castings Limited shares today slipped by 6.06%, closing at ₹77.96. The stock saw significant movement, trading on a total volume of 4.08 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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