Electrosteel Castings Ltd share Price Today

Electrosteel Castings Ltd is engaged in the business of manufacturing Ductile Iron (DI) Pipes, Ductile Iron Fittings (DIF) and Cast Iron (CI) Pipes. The Company is a water infrastructure company providing techno-economic solutions for water supply and sewerage systems. They also undertake turnkey solutions for water transportation and sewerage management, which include manufacturing DI Pipes, supplying and laying various types of pipes, operating the system and transferring to the owners. The company is headquartered at Kolkata and having their manufacturing facilities at Elavur in Tamilnadu, Khardah and Haldia in West Bengal. Electrosteel Castings Ltd was incorporated in November 26, 1955. In the year 1959, the company commissioned their first cast iron pipe factory at Khardah in West Bengal. They acquired another cast iron pipe manufacturing unit at Elavur in Tamilnadu in the year 1982. In the year 1994, the company set up a 60000 tpa DI spun pipe plant at Khardah, the first ever in India and in the year 1996, they commissioned their own mini-blast furnace. During the year 1998-99, the company expanded the production capacity of DI Pipes by 30000 tpa to 90000 tpa and Cast Iron Spun Pipes by 25000 tpa to 75000 tpa. During the year 1999-2000, they further increased the production capacity of DI Pipes by 30000 tpa to 120000 tpa. During the year 2000-01, the company increased the production capacity of DI Pipes by 30000 tpa to 150000 tpa and Mini Blast Furnace by 91000 to 200000 tpa. They further increased the production capacity of DI Pipes by 50000 in the year 2003 and 2006. Thus, the total production capacity increased to 250000 tpa. In December 24, 2001, the company entered the European market by incorporating a subsidiary, Electrosteel Europe SA in France. In March 2002, they entered into a strategic alliance with the promoters of Lance Group by which the company became involved in the management of Lance Industries Ltd and Lanco Kalahasthi Casting Ltd. Calcutta Steel Company Ltd was amalgamated with the company with effect from May 23, 2002. In February 2005, the company commissioned their 12 MW Power Plant at Haldia, which generates power using waste gas of Coke Oven Plant and Sponge Iron Plant. During the year 2006-07, they commissioned Pulverized Coal Injection System in Blast Furnace and Stamp Charging System in Coke Oven Plant at Khardah. During the year 2007-08, the company signed the mining lease agreement with the Government of Jharkhand for Coking Coal mine in Jharia Coalfield. They installed a Sinter Plant and a 33 KV sub-station. Engineering Exports Promotion Council, Eastern Region presented the Export Excellence Award to the company for the outstanding contribution in exports made during 2005-06. Also, Kolkata Port Trust awarded the certificate of Excellence in recognition of the tendering highest number of containers for the year 2006-07. The company plans to install a 12 MW power plant at Haldia, which will produce power from water from waste heat gas from coke oven batteries. They plan to construct a railway siding at Haldia to create facility for smooth movement of materials form the forthcoming coal mine at Parbatpur, Jharkhand and iron ore mine at Kodalibad, Jharkhand. They are also acquiring two wagon rakes under the Indian Railway`s Wagon Investment Scheme (WIS) to part solve the logistics problem. The Company commissioned railway siding at Barajamda in April 2012. M/s. Electrosteel Bahrain Holding S.P.C. Company, Bahrain was incorporated as Subsidiary of the Company and M/s. Singardo International Pte. Ltd. Singapore ceased to be the Subsidiary during the year 2014-15. During the year 2018-19, Electrosteel Steels Limited ceased to be an Associate Company of the Company, with effect from 6 June 2018. During the year 2019-20, National Company Law Tribunal, Cuttack Bench, vide its order dated 2 September, 2019, approved Scheme of Amalgamation of Mahadev Vyapaar Pvt Ltd, wholly owned subsidiary, w.e.f. 1 April, 2014, with the Company, which got amalgamated with the Company. Subsequently, Mahadev Vyapaar Pvt Ltd has ceased to be a subsidiary of the Company. Electrosteel Thermal Power Limited ceased to be an Associate Company of the Company, with effect from 1 August, 2019. The Company commissioned Ferro Alloy Manufacturing Plant at Haldia in July 2019-20. The Amalgamation of Srikalahasthi Pipes Limited (SPL) with the Company was approved by the Board of Directors of the respective Companies on 5 October, 2020 with Appointed Date of 1 October, 2020. The National Company Law Tribunal (NCLT), Amravati had approved the said amalgamation vide its orders dated 22 November, 2021 and 14 December, 2021. The said amalgamation was also approved by the NCLT Cuttack vide its order dated 09 December, 2021. Consequent to the approval of the Scheme, SPL amalgamated with the Company and has ceased to be a a Subsidiary Company effective from 31 December, 2021. During the year 2021-22, in addition to existing 12 MW Captive Power Plant, 7.5 MW capacity Captive Power Plant was commissioned, at Srikalahasthi Unit, which is also being operated using the generation of steam from the waste gases of Coke Oven Plant. The new Power Plant has stabilized its operations and started generating 3.50 MW - 4 MW power on an average from August, 2022. Ferro Alloys Manufacturing facility was commissioned at Srikalahasthi in 2022.