Quarter Ended: March 2026

Electrosteel Castings Limited – Q4 FY26 Results

NSE

electcast

BSE

500128

Electrosteel Castings reported a sharp decline in Q4 FY26 profitability despite stable quarterly revenue, impacted by margin pressure and significantly lower operating leverage compared to the corresponding quarter last year.

key financial highlights

Revenue from Operations:
- Revenue (Q4 FY26): ₹149,273.54 Lakhs
  - QoQ Change: +1.42%
  - YoY Change: -12.21%
- Previous Quarter (Q3 FY26): ₹147,180.60 Lakhs
- Previous Year (Q4 FY25): ₹170,068.16 Lakhs
Profit After Tax (PAT):
- PAT (Q4 FY26): ₹1,598.92 Lakhs
  - QoQ Change: +173.08%
  - YoY Change: -90.50%
- Previous Quarter (Q3 FY26): -₹2,187.92 Lakhs
- Previous Year (Q4 FY25): ₹16,830.60 Lakhs
QoQ Performance:
- Revenue Trend: Revenue improved marginally sequentially after a softer previous quarter.
- Profit Trend: Profit recovered sharply on a sequential basis from loss in Q3 FY26, though remained significantly lower YoY.

Margin Analysis

Drivers:

Raw material costs remained elevated.
Employee and other operating expenses continued to rise.
Depreciation and finance costs stayed high.
Exceptional item impact reduced compared to previous quarter.

Insight:

The company witnessed substantial margin compression compared to the previous year despite stabilization in quarterly revenues.

Earning quality check

Key Drivers:

Strong operating cash flow generation of ₹1,14,663.20 Lakhs.
Large working capital outflow impacted operating efficiency.
Significant investment activity and debt repayments impacted overall liquidity.

Interpretations:

Despite weak accounting profitability during the quarter, the company maintained strong cash generation capability from operations.

balance sheet Analysis

Total Assets: ₹9,46,144.05 Lakhs
Total Liabilities: ₹3,53,707.80 Lakhs

Insight:

The balance sheet remains asset-heavy with sizeable borrowings and working capital exposure, though strong equity base provides balance sheet support.

key risks

High raw material and energy cost volatility.
Elevated debt and finance cost burden.
Infrastructure sector demand fluctuations.
Working capital intensive operations.
Export and currency fluctuation risks.

management strategy signals

Focus Area:

Improving operational efficiency.
Managing working capital tightly.
Strengthening cash flow generation.
Reducing debt burden gradually.
Expanding infrastructure project participation.

Financial metrics table

Particular	Q4 FY26	Q.O.Q	Y.O.Y
Total Income	₹153,021.17 Lakhs	+0.29%	-12.02%
PBT	₹2,266.32 Lakhs	+455.07%	-82.04%
PAT	₹1,598.92 Lakhs	+173.08%	-90.50%

Electrosteel Castings delivered a weak YoY quarterly performance with steep profit decline and margin compression despite stable revenue levels. Sequential recovery in profitability and strong operating cash flow provide some relief, but elevated costs and pressure on operational efficiency remain key concerns for investors.

Official Exchange Filing: Electrosteel Castings Limited

Quarterly Performance Context

COST OF OPERATIONS AS % OF REVENUE

99%

NET PROFIT AS % OF REVENUE

FISCAL YEAR

2025-2026

AUDIT STATUS

REVIEWED