Electrosteel Castings Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹71.18Fairly Valued by 8.27%vs CMP ₹77.60

P/E (30.2) × ROE (3.0%) × BV (₹95.80) × DY (1.16%)

₹74.70Fairly Valued by 3.74%vs CMP ₹77.60

MoS: -3.9% (Negative)Confidence: 48/100 (Moderate)Models: 3 Under, 1 Fair, 5 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹69.22	23%	Over (-10.8%)
Graham Number	Earnings	₹104.64	16%	Under (+34.8%)
Earnings Power	Earnings	₹62.27	11%	Over (-19.8%)
DCF	Cash Flow	₹27.33	14%	Over (-64.8%)
Net Asset Value	Assets	₹95.81	7%	Under (+23.5%)
EV/EBITDA	Enterprise	₹128.98	9%	Under (+66.2%)
Earnings Yield	Earnings	₹50.80	7%	Over (-34.5%)
ROCE Capital	Returns	₹78.49	7%	Fair (+1.1%)
Revenue Multiple	Revenue	₹59.19	5%	Over (-23.7%)
Consensus (9 models)		₹74.70	100%	Fairly Valued

Key Drivers: ROE 3.0% is below cost of equity. | Wide model spread (₹27–₹129) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -2.7%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 14 September 2026, 12:56 pm +05:30. Annual results through Mar 2025; quarterly results through Sep 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹7,320.00 Cr, versus ₹7,478.00 Cr in Mar 2024 (-2.1% year on year). Net profit for Mar 2025 was ₹710.00 Cr, versus ₹740.00 Cr in Mar 2024 (-4.1% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹480.00 Cr against net profit of ₹710.00 Cr. Cash flow covered 0.68 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement.

Balance-sheet check

Reported borrowings were ₹1,561.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Electrosteel Castings Ltd scores 51/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health61/100 · Moderate

ROCE 5.0% WeakROE 3.0% WeakD/E 0.35 ModerateInterest Coverage 7.2x StrongProfitable 4/5 available years Reported history

Smart Money30/100 · Weak

FII holding down -6.46% (6mo) SellingPromoter holding at 50.1% Stable

Earnings Quality90/100 · Strong

CFO/NP ratio: 0.98x Cash-backed earningsOPM expanding (12% → 15%) Improving

Quarterly Momentum15/100 · Weak

Revenue (4Q): -17% YoY DecliningProfit (4Q): -43% YoY DecliningOPM: 7.0% (down 8.0% YoY) Margin pressure

Industry Rank30/100 · Weak

P/E 30.2 vs industry 36.9 In-lineROCE 5.0% vs industry 14.9% Below peersROE 3.0% vs industry 16.1% Below peers3Y sales CAGR: 11% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 14, 2026, 12:56 pm

Market Cap	4,798 Cr.
Current Price	77.6
Intrinsic Value	₹74.70
High / Low	104/60.1
Stock P/E	30.2
Book Value	95.8
Dividend Yield	1.16 %
ROCE	5.00 %
ROE	3.04 %
Face Value	1.00
PEG Ratio	-10.98

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Electrosteel Castings Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Electrosteel Castings Ltd	4,798 Cr.	77.6	104/60.1	30.2	95.8	1.16 %	5.00 %	3.04 %	1.00
Kirloskar Industries Ltd	3,850 Cr.	3,664	4,575/2,456	12.6	5,947	0.35 %	7.01 %	3.77 %	10.0
Alicon Castalloy Ltd	1,204 Cr.	733	1,025/580	32.4	385	0.68 %	10.6 %	7.03 %	5.00
Nelcast Ltd	1,011 Cr.	116	173/86.0	24.6	68.6	0.60 %	11.4 %	8.43 %	2.00
Captain Technocast Ltd	564 Cr.	243	299/140	55.4	21.6	0.00 %	29.0 %	22.6 %	10.0
Industry Average	6,673.67 Cr	963.29		36.88	762.85	0.49%	14.91%	16.06%	7.00

All Competitor Stocks of Electrosteel Castings Ltd

Quarterly Result

Metric	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	1,784	1,852	1,872	1,685	1,919	1,869	2,004	2,012	1,828	1,780	1,701	1,558	1,396
Expenses	1,630	1,664	1,680	1,525	1,619	1,463	1,693	1,658	1,560	1,525	1,541	1,387	1,303
Operating Profit	154	187	193	160	300	406	311	354	268	255	160	170	93
OPM %	9%	10%	10%	10%	16%	22%	16%	18%	15%	14%	9%	11%	7%
Other Income	17	15	36	27	18	23	34	24	21	39	39	28	95
Interest	69	77	77	57	57	53	52	41	40	45	35	36	38
Depreciation	30	30	31	30	30	30	34	32	36	37	37	41	43
Profit before tax	72	95	121	100	231	346	260	305	212	213	126	121	107
Tax %	26%	18%	26%	25%	24%	24%	13%	26%	27%	25%	-33%	27%	27%
Net Profit	53	79	89	75	175	263	227	226	155	160	168	89	78
EPS in Rs	0.89	1.32	1.50	1.26	2.94	4.43	3.67	3.65	2.51	2.59	2.72	1.44	1.27

Last Updated: January 1, 2026, 9:32 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 11:46 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,459	2,402	2,204	2,079	2,263	2,699	2,711	3,474	5,281	7,276	7,478	7,320	6,126
Expenses	2,161	2,091	1,911	1,791	2,006	2,295	2,320	3,038	4,579	6,530	6,274	6,270	5,669
Operating Profit	299	311	293	288	257	404	391	436	702	746	1,204	1,050	457
OPM %	12%	13%	13%	14%	11%	15%	14%	13%	13%	10%	16%	14%	7%
Other Income	28	59	7	100	80	-137	8	-194	52	77	76	109	177
Interest	150	157	180	210	210	235	228	208	195	286	219	161	146
Depreciation	56	71	67	67	62	59	57	90	115	121	125	142	166
Profit before tax	120	144	52	111	65	-26	114	-56	444	415	937	856	323
Tax %	32%	19%	32%	30%	-2%	-70%	25%	72%	22%	24%	21%	17%
Net Profit	-15	-116	-27	144	124	39	161	-91	348	316	740	710	314
EPS in Rs	-0.46	-3.25	-0.77	4.04	3.47	0.94	3.72	-2.11	5.84	5.31	11.97	11.48	5.08
Dividend Payout %	-140%	-20%	-65%	12%	9%	0%	8%	-16%	14%	17%	12%	12%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-673.33%	76.72%	633.33%	-13.89%	-68.55%	312.82%	-156.52%	482.42%	-9.20%	134.18%	-4.05%
Change in YoY Net Profit Growth (%)	0.00%	750.06%	556.61%	-647.22%	-54.66%	381.37%	-469.34%	638.94%	-491.61%	143.37%	-138.23%

Electrosteel Castings Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	12%
5 Years:	22%
3 Years:	12%
TTM:	-12%

Compounded Profit Growth
10 Years:	23%
5 Years:	32%
3 Years:	28%
TTM:	-36%

Stock Price CAGR
10 Years:	20%
5 Years:	43%
3 Years:	37%
1 Year:	-55%

Return on Equity
10 Years:	8%
5 Years:	10%
3 Years:	12%
Last Year:	13%

Last Updated: September 5, 2025, 3:25 am

Balance Sheet

Last Updated: September 2, 2026, 6:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	36	36	36	36	41	43	59	59	59	62	62	62
Reserves	2,034	2,455	2,349	2,443	2,595	2,837	3,667	4,044	4,323	5,051	5,720	5,862
Borrowings	2,572	2,185	2,057	1,697	1,761	1,736	2,138	2,967	2,667	2,335	2,125	1,561
Other Liabilities	575	1,032	1,078	1,225	1,025	977	1,289	1,554	1,469	1,661	1,788	1,977
Total Liabilities	5,218	5,708	5,519	5,401	5,421	5,593	7,152	8,624	8,519	9,108	9,695	9,461
Fixed Assets	1,154	1,780	1,707	1,678	1,633	1,703	2,633	2,763	2,731	2,928	3,102	3,212
CWIP	1,286	1,278	1,210	1,202	1,237	1,166	1,337	1,208	1,302	1,229	1,249	1,186
Investments	766	786	590	637	684	747	202	457	161	204	145	578
Other Assets	2,012	1,863	2,013	1,884	1,868	1,977	2,980	4,196	4,324	4,747	5,200	4,486
Total Assets	5,218	5,708	5,519	5,401	5,421	5,593	7,152	8,624	8,519	9,108	9,695	9,461

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	443	533	421	450	-46	225	444	-279	452	803	480	1,147
Cash from Investing Activity +	-216	71	72	-69	33	-20	129	-329	168	-37	-138	-119
Cash from Financing Activity +	-236	-592	-332	-574	-5	-220	-419	609	-604	-718	-454	-900
Net Cash Flow	-8	12	162	-193	-18	-16	154	1	17	49	-112	127
Free Cash Flow	348	495	529	421	-103	166	312	-458	268	563	206	1,041
CFO/OP	147%	186%	156%	180%	-7%	60%	112%	-24%	78%	86%	67%	337%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	348.00	495.00	529.00	421.00	-103.00	166.00	312.00	-458.00	268.00	563.00	206.00	1,041.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	85	78	89	81	85	82	83	81	65	53	67	74
Inventory Days	232	212	225	249	219	228	278	279	331	208	221	249
Days Payable	119	90	121	109	121	94	120	102	93	54	53	56
Cash Conversion Cycle	197	200	192	220	182	217	242	258	303	207	235	267
Working Capital Days	2	-10	11	27	5	26	25	31	33	43	55	79
ROCE %	6%	6%	5%	6%	6%	9%	8%	8%	10%	10%	16%	13%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	44.08%	44.08%	46.22%	46.22%	46.22%	46.22%	46.22%	46.22%	46.22%	46.22%	50.14%	50.14%
FIIs	15.33%	18.18%	19.70%	21.16%	19.73%	19.91%	20.06%	20.27%	19.26%	19.38%	15.73%	12.80%
DIIs	0.88%	0.43%	0.36%	0.44%	1.98%	0.62%	0.63%	0.21%	0.25%	0.24%	0.23%	0.37%
Government	0.24%	0.24%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%
Public	39.47%	37.07%	33.47%	31.95%	31.84%	33.03%	32.87%	33.08%	34.07%	33.94%	33.67%	36.47%
No. of Shareholders	1,04,970	1,08,315	1,21,615	1,33,861	1,53,243	1,67,935	1,73,496	1,82,189	1,86,256	1,82,243	1,76,913	1,79,894

Shareholding Pattern Chart

No. of Shareholders

Electrosteel Castings Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Motilal Oswal Nifty Microcap 250 Index Fund	368,561	0.76	4.34	368,561	2025-04-22 17:25:36	0%
Groww Nifty Total Market Index Fund	936	0.03	0.01	936	2025-04-22 17:25:36	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	11.48	12.35	5.31	5.84	-3.37
Diluted EPS (Rs.)	11.48	12.30	5.31	5.84	-3.37
Cash EPS (Rs.)	13.78	13.99	7.36	7.77	-0.14
Book Value[Excl.RevalReserv]/Share (Rs.)	93.53	82.73	73.72	69.03	87.00
Book Value[Incl.RevalReserv]/Share (Rs.)	93.53	82.73	73.72	69.03	87.00
Revenue From Operations / Share (Rs.)	118.41	120.97	122.36	88.81	80.16
PBDIT / Share (Rs.)	18.75	20.72	13.83	12.67	11.30
PBIT / Share (Rs.)	16.45	18.70	11.79	10.75	9.19
PBT / Share (Rs.)	13.85	15.16	6.99	7.47	-1.32
Net Profit / Share (Rs.)	11.48	11.97	5.32	5.85	-2.25
NP After MI And SOA / Share (Rs.)	11.48	11.97	5.31	5.84	-3.37
PBDIT Margin (%)	15.83	17.12	11.30	14.27	14.09
PBIT Margin (%)	13.89	15.46	9.63	12.09	11.46
PBT Margin (%)	11.69	12.53	5.70	8.41	-1.64
Net Profit Margin (%)	9.69	9.89	4.34	6.58	-2.80
NP After MI And SOA Margin (%)	9.69	9.89	4.34	6.57	-4.20
Return on Networth / Equity (%)	12.27	14.47	7.20	8.46	-5.08
Return on Capital Employeed (%)	14.70	18.62	12.57	11.62	7.78
Return On Assets (%)	7.31	8.12	3.70	4.02	-2.03
Long Term Debt / Equity (X)	0.03	0.08	0.16	0.21	0.27
Total Debt / Equity (X)	0.35	0.44	0.59	0.71	0.67
Asset Turnover Ratio (%)	0.77	0.84	0.82	0.65	0.42
Current Ratio (X)	1.68	1.58	1.47	1.44	1.47
Quick Ratio (X)	0.78	0.79	0.69	0.72	0.87
Inventory Turnover Ratio (X)	3.09	1.54	2.03	1.80	1.32
Dividend Payout Ratio (NP) (%)	7.84	11.41	15.06	7.84	-8.90
Dividend Payout Ratio (CP) (%)	6.53	9.76	10.88	5.90	-23.74
Earning Retention Ratio (%)	92.16	88.59	84.94	92.16	108.90
Cash Earning Retention Ratio (%)	93.47	90.24	89.12	94.10	123.74
Interest Coverage Ratio (X)	7.21	5.85	2.88	3.87	2.32
Interest Coverage Ratio (Post Tax) (X)	5.42	4.38	2.11	2.79	1.70
Enterprise Value (Cr.)	7930.69	12892.93	4127.08	4761.19	3398.64
EV / Net Operating Revenue (X)	1.08	1.72	0.56	0.90	0.97
EV / EBITDA (X)	6.84	10.07	5.02	6.32	6.95
MarketCap / Net Operating Revenue (X)	0.82	1.47	0.26	0.44	0.31
Retention Ratios (%)	92.15	88.58	84.93	92.15	108.90
Price / BV (X)	1.05	2.16	0.43	0.57	0.37
Price / Net Operating Revenue (X)	0.82	1.47	0.26	0.44	0.31
EarningsYield	0.11	0.06	0.16	0.14	-0.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Electrosteel Castings Ltd and is it undervalued?

Electrosteel Castings Ltd: the stored intrinsic value estimate is ₹74.70, compared with a stored share price of ₹77.60. The model value is 3.7% below that quote. The model classifies this as fairly valued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Electrosteel Castings Ltd?

The stored share price is ₹77.60. Price-data record updated: 14 September 2026, 12:56 pm +05:30. This is not a live quote. The stored 52-week high / low is 104/60.1; this is a rolling range, not a financial-year range.

How have Electrosteel Castings Ltd's revenue and profit changed?

Does Electrosteel Castings Ltd's profit convert into cash?

What should I check in Electrosteel Castings Ltd's balance sheet?

Reported borrowings were ₹1,561.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Electrosteel Castings Ltd's P/E with other stocks?

The stored P/E is 30.20. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Electrosteel Castings Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.