Delayed JJM fund release
The ₹17,000 crore central share for JJM is pending cabinet approval; further delays could prolong demand weakness.
ELECTCAST / bear-case history
Track the concerns that keep returning.
Electrosteel Castings · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Contractor reluctance to take new orders
Analyst raised concern that EPC contractors may avoid fresh orders due to payment delays, which management acknowledged as 'once bitten, twice shy'.
Coke block asset write-off uncertainty
Analyst questioned potential write-offs on ₹1,200 crore coke block assets; management gave no clear guidance, indicating risk of impairment.
OPVC pipe substitution threat
Analyst raised possibility of EPC contractors shifting to cheaper OPVC pipes; management downplayed the risk but acknowledged it as a potential competitive pressure.