Electrosteel Castings Promoters Acquire 5% Stake via Open Market Acquisitions

Key numbers

Stake Acquired	5.00%3.08 Cr Shares
Market Cap	₹4,643.18 CrMid-cap
Revenue TTM	₹5,785.9 CrOperating
PE TTM	38.47xSector: 18.82x

Key highlights

• Promoter group acquired 3,08,88,721 equity shares representing a 5.00% stake
• Acquisitions were carried out through open market transactions on BSE and NSE
• The purchase period extended from March 20, 2026, to September 29, 2026
• Total promoter holding increased from 49.53% to 54.53% post-acquisition
• Key acquirers include Wilcox Merchants Pvt Ltd and multiple Kejriwal family members

What the Promoters Bought

Wilcox Merchants Pvt Ltd, acting on behalf of the promoter group of Electrosteel Castings Ltd, disclosed the acquisition of 3,08,88,721 equity shares through open market transactions. This aggregate purchase represents a 5.00% stake in the target company. The acquisition activity was split across two fiscal years, with 37.46 lakh shares purchased in FY 2025-26 and the remaining 2.71 crore shares acquired in FY 2026-27.

Major individual contributors to the acquisition included Mayank Kejriwal, who added approximately 83.9 lakh shares, and Asha Kejriwal, who acquired 55.9 lakh shares. Other group entities such as Badrinath Industries Ltd and Tulsi Highrise Pvt Ltd also participated in the consolidation.

Shareholding Picture

Before the commencement of these transactions, the promoter and promoter group collectively held 30,61,79,231 shares, representing 49.53% of the company's equity capital. Following the completion of the acquisitions on September 29, 2026, their total holding rose to 33,70,67,952 shares, or 54.53%. The target company’s total equity base remains unchanged at 61,81,84,591 shares with a face value of 1 Rupee each.

Recent data indicates that approximately 10.54% of the promoter's holding is currently pledged. In contrast, institutional participation remains relatively low, with Foreign Institutional Investors holding 12.8% and mutual funds holding a minor 0.14% stake.

Business Overview

Electrosteel Castings is a pioneer in the Ductile Iron (DI) Pipe industry in India and a leading global manufacturer of DI pipes and fittings. As an integrated player, the company manages its own iron ore and coal linkages, supporting production facilities located in West Bengal, Andhra Pradesh, and Tamil Nadu. The company primarily serves the water infrastructure sector, providing critical components for water transportation, sewerage, and irrigation projects across 110 countries.

It is strategically positioned to cater to domestic demand driven by government-led initiatives like the Jal Jeevan Mission, which aims to provide functional household tap connections to rural India.

Financial Context

The company reported a trailing twelve-month (TTM) net profit of 120.7 crore on an operating revenue of 5,785.9 crore. The stock trades at a price-to-earnings (PE) ratio of 38.47, which is notably higher than the industry average of 21.52. Despite this, the price-to-book value is relatively low at 0.78.

For the quarter ending June 30, 2026, the company recorded an operating revenue of 1,425.57 crore, marking an 8.48% decline compared to the same period in the previous year. Net profit for the same quarter also saw a sharp year-on-year reduction of 45.74%, totaling 48.32 crore, even as the operating profit margin stood at 7.01%.

Electrosteel Castings · financial snapshot

Share price	₹75.11
Market capitalisation	₹4,643.18 Cr
Revenue (annual)	₹5,918.02 Cr
Net profit (annual)	₹161.44
P/E (TTM)	38.47×Sector 18.82×
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.