Net profit of Electrosteel Castings declined 11.11% to Rs 155.17 crore in the quarter ended September 2024 as against Rs 174.57 crore during the previous quarter ended September 2023. Sales declined 4.77% to Rs 1827.80 crore in the quarter ended September 2024 as against Rs 1919.34 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1827.801919.34 -5 OPM %14.6415.65 - PBDT248.56261.27 -5 PBT212.47230.83 -8 NP155.17174.57 -11 Powered by Capital Market - Live News

Electrosteel Castings will hold a meeting of the Board of Directors of the Company on 30 October 2024.Powered by Capital Market - Live News

Electrosteel Castings has acquired 27,65,000 equity shares of S$. 1/- each of Singardo International for a consideration of Rs 41.50 crore. Consequently, Singardo will become a wholly owned subsidiary of the Company. Singardo operates in Water, Gas and Telecom sector and trade in Electrosteel Brand DI Pipes and fittings, European origin Gas Valves, PE Pipes for Gas, etc. The Company is looking forward for market expansion in South East Asia, Far East and ASEAN Regions for DI Pipes and Fittings. It is also interested in global sourcing and trading of products used in the Water Industry, Gas Industry, Infrastructure projects, etc., by utilising existing sales networks globally through its subsidiary companies. Powered by Capital Market - Live News

Electrosteel Castings has received credit ratings from India Ratings and Research as under:Long term loan (Rs 640.4 crore) - IND AA/ Stable (upgraded)Fund based working limits (Rs 1350 crore) - IND AA/ Stable/ IND A1+ (upgraded long term and affirmed short term)Fund based working capital limits (Rs 350 crore) - IND AA/ Stable/ IND A1+ (assigned)Non fund based working capital limits (Rs 1900 crore) - IND A1+ (affirmed)Commercial paper (Rs 100 crore) - IND A1+ (affirmed) Powered by Capital Market - Live News

Electrosteel Castings will carry out a planned Shutdown of its MBF production facility and all other units at Srikalahasthi Unit tentatively from 19 August 2024 for a period of approximately 7 days for maintenance work.Powered by Capital Market - Live News