Electrosteel Castings Promoters Acquire Shares Worth ₹57.51 Crore via Market Purchase

Key numbers

Transaction Value	₹57.51 CrPromoter Buying
Market Cap	₹4,533.77 CrMid-range Performer
PE TTM	37.56xSector PE 18.65x
Promoter Stake	50.13%Pre-transaction

Key highlights

• Tulsi Highrise Private Limited acquired 31,63,250 shares representing a 0.51% stake
• Wilcox Merchants Private Limited purchased 48,25,000 shares representing a 0.78% stake
• Acquisitions were executed between September 28 and September 29, 2026
• Total transaction value for the two corporate entities reached ₹57,50,70,185
• Post-acquisition, Tulsi Highrise's holding increased from 0.71% to 1.22%

What the Promoters Bought

The acquisition was primarily led by Tulsi Highrise Private Limited and Wilcox Merchants Private Limited through open market purchases on the National Stock Exchange. Tulsi Highrise acquired its 0.51% stake for a cost of ₹22.96 crore, while Wilcox Merchants increased its holding by 0.78% for ₹34.54 crore. These transactions took place on September 28 and 29, 2026.

Beyond these corporate entities, several individual members of the promoter group, including Mayank Kejriwal and Asha Kejriwal, also reported substantial share purchases in the same period, further consolidating the promoter group's position in the equity capital of the company.

Shareholding Picture

• Tulsi Highrise expanded its stake from 43.62 lakh shares (0.71%) to 75.25 lakh shares (1.22%)
• Wilcox Merchants increased its position from 31.83 lakh shares (0.51%) to 80.08 lakh shares (1.30%)
• Current total promoter holding stands at 50.13% with a pledge percentage of 10.54%
• FII holding remains significant at 12.8% despite a 2.93% sequential decline
• Institutional investors collectively hold 13.4% of the company's equity

Business Overview

Electrosteel Castings Limited is a leading manufacturer of Ductile Iron (DI) pipes and fittings, essential for water infrastructure projects globally. Based in Kolkata, the company operates integrated steel plants and serves as a critical supplier for water transport, sewerage systems, and industrial applications. It is recognized as one of India's largest DI pipe producers, maintaining an export presence in over 50 countries.

The company operates within the Metals and Mining sector, specifically focusing on Iron and Steel Intermediate Products to support large-scale urban development and irrigation schemes.

Financial Context

The company reported a trailing twelve-month net profit of ₹120.7 crore against an operating revenue of ₹5,785.9 crore. While its Price-to-Earnings ratio of 37.56x is higher than the industry average of 21.34x, the stock trades at a Price-to-Book value of 0.76x. Quarterly performance showed a significant sequential net profit growth of 202.37% as of June 2026, although annual revenue saw a 17.61% contraction.

Operating profit margins currently sit at 7.01%, reflecting the broader challenges and cyclical nature of the intermediate steel products industry.

Industry Landscape

• The DI pipe segment is driven by domestic infrastructure initiatives such as the Jal Jeevan Mission
• Sector-wide revenue growth was recorded at 16.61% for the most recent quarter
• Raw material price volatility remains a key factor influencing operating margins across the steel sector
• Demand is closely linked to state and central government capital expenditure in water management

Electrosteel Castings · financial snapshot

Share price	₹73.34
Market capitalisation	₹4,533.77 Cr
Revenue (annual)	₹5,918.02 Cr
Net profit (annual)	₹161.44
P/E (TTM)	37.56×Sector 18.65×
Promoter holding	50.13%0.00% QoQ
FII holding	12.8%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.