Electrosteel Castings

Electrosteel Castings reported a weak Q3 FY26 with consolidated total income of ₹1,526 croreCurrent reported value: ₹1,526 crore. No comparable prior figure is available in the source record. and EBITDA of ₹88 croreCurrent reported value: ₹88 crore. No comparable prior figure is available in the source record. (margin 5.8%Current reported value: 5.8%. No comparable prior figure is available in the source record.), impacted by a 31% YoY dropCurrent reported value: 31% YoY drop. No comparable prior figure is available in the source record. in DI pipe sales volume to 1.34 lakh tonnesCurrent 1.34 lakh tonnes. Reported change: -31% YoY.. Domestic demand remained subdued due to a government spending freeze under Jal Jeevan Mission (JJM), though export volumes grew 11%Current 11%. Reported change: +11% QoQ. QoQ. Management expects a gradual recovery from April 2026 as pending JJM funds (₹17,000 crore central share) are released. The company is diversifying into high-tech valves via an Italian acquisition. Key risk: sustained demand weakness if fund releases are further delayed, prolonging the current trough.