Electrosteel Castings

Electrosteel Castings
Company typePublic
NSE: ELECTCAST
BSE: 500128
Founded1955
HeadquartersKolkata, West Bengal, India
Key people
Pradip Kumar Khaitan
(Chairman)
Umang Kejriwal
(MD)
Sunil Katial
(CEO)[1][2]
RevenueIncrease ₹7,360.42 crore (US$880 million) (2023)[3]
Decrease ₹315.80 crore (US$38 million) (2023)[3]
Total assetsIncrease ₹8,623.82 crore (US$1.0 billion) (2022)[2]
Total equityIncrease ₹4,104.47 crore (US$490 million) (2022)[2]
Websitewww.electrosteel.com

Electrosteel Castings Limited is an Indian company based in Kolkata. It is one of the largest manufacturers of ductile iron pipes in the Indian sub-continent, having a production capacity of 280,000 MT per annum.[4][5][6] Electrosteel was the pioneer in setting up a Ductile Iron Spun Pipe Plant in India in 1994 and is among the five largest producers of Spun Iron pipes in the world.[7][8]

History

Plant of Electrosteel Castings at Khardaha.

In 1955, Electrosteel established a Steel Foundry at Khardah, near Kolkata, West Bengal. Subsequently, it started manufacturing Gray Cast Iron Spun Pipes in 1959.

In 1982 it took over Shakti Pipes Ltd. at Elavur, near Chennai and also started making Gray Cast Iron Spun Pipes there.[9]

In 1994, it established the first Ductile Iron Spun Pipe unit of the Indian sub-continent at Khardah. Within a few years, it received good acceptability among water engineers and the capacity was expanded to 0.28 million ton per annum.[9] It subsequently started manufacturing Ductile Iron Fittings at Khardah in 2001.

In 2005, it also established a coke oven, a sponge iron plant and a power plant at Haldia, as a part of its backward integration drive.[10]

International operations

About 50% of Ductile Iron Pipes and Fittings produced by Electrosteel is exported to various countries in Europe, USA, South America, South East Asia, Middle East, North and South African Countries.[9] A number of overseas offices and subsidiary companies have been established in France, Spain, United Kingdom, United States, Singapore and Algeria.

Financials

Electrosteel reported a total income of Rs.7360.42 crores during the financial year ended March 31, 2023 as compared to Rs.5336.70 crores during the financial year ended March 31, 2022. The company has posted net profit of Rs.315.8022 crores for the financial year ended March 31, 2023 as against net profit of Rs.347.2773 crores for the financial year ended March 31, 2022.[3]

Accreditations

Electrosteel produces ductile iron pipes and fittings as per the international benchmark and its quality is approved in various countries. The Company obtained KITEMARK License from the British Standards Institute ("BSI") for its DI Spun Pipes and Fittings.[11] In addition, it received accreditations from Germany, BSI (UK) and various governmental approvals in the Middle East. It also secured approvals from NSF, UL and FM from USA and ACS/NF from France. Its products are also certified by the Drinking Water Inspectorate (DWI) and the Water Regulation Advisory Scheme (WRAS) in the UK.[11]

Electrosteel is an ISO 9001 and ISO 14001 certified organization and has SA8000 certification as a socially responsible organization.

References

  1. ^ "Electrosteel Castings Management Information - Details of Electrosteel Castings Management". The Economic Times. Retrieved 6 June 2023.
  2. ^ a b c "ELECTROSTEEL CASTINGS LIMITED 2022 ANNUAL REPORT" (PDF). bseindia.com. Retrieved 26 June 2023.
  3. ^ a b c "Electrosteel Castings Ltd posts consolidated PAT of Rs. 89.43 crores in Q4 FY2023". EquityBulls. 17 May 2023. Retrieved 26 June 2023.
  4. ^ "Directors Report | Director Details - The Economic Times". economictimes.indiatimes.com.
  5. ^ "Electrosteel Steels Directors Report | Electrosteel Steels Director Details - The Economic Times". economictimes.indiatimes.com. Retrieved 3 September 2018.
  6. ^ "Electrosteel". ECL. Retrieved 16 July 2018.
  7. ^ Behura, Monica (16 March 2016). "Electrosteel Steels: Nerves Of Steel". Business World. Retrieved 3 September 2018.
  8. ^ "Electrosteel Castings Ltd to set up new Ferro Alloy Plant". EquityBulls. 24 March 2023. Retrieved 6 June 2023.
  9. ^ a b c Mazumdar, Rakhi (7 November 2015). "Electrosteel Group: A steel project that became a pipe dream". The Economic Times. Retrieved 3 September 2018.
  10. ^ "Electrosteel to set up steel plant near Kolkata". Business_Standard. 17 February 2004. Retrieved 6 June 2023.
  11. ^ a b History | Information - The Economic Times