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Electrosteel Castings Ltd logo

Electrosteel Castings Ltd

NSE: ELECTCAST BSE: 500128

₹75.62

(19.99%)

Wed, 11 Mar 2026, 01:43 pm

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Company History

1955

  • The company was incorporated on November 26th at Rajgangpur.
  • The company manufactures steel castings, grinding media and spun-cast iron pipes.

1956

  • All shares were issued for cash.
  • 1,50,000 shares were subscribed by Orissa Cements, Ltd. and Dalmia Cements (Bharat), Ltd.

1958

  • 46,950 shares were subscribed for in cash by Directors, their friends and associates.
  • 50,000 shares were subscribed for in cash by the Industrial Credit and Investment Corporation of India, Ltd.

1960

  • Dalmia Cement (Bharat), Ltd. and Orissa Cements, Ltd. released 2,00,000 equity shares to the public for getting the company's shares listed on the Stock Exchange.

1961

  • 4,00,000 right equity shares were offered at par in the proportion 1:1.

1965

  • The name of the company was changed from Dalmia Iron & Steel, Ltd. to Electrosteel Castings Ltd.

1968

  • The company undertook to set up a new integrated electric steel melting shop and wire rod mills in Ghaziabad, U.P.

1978

  • The government issued a fresh licence for the manufacture of 36,000 tonnes of steel ingots/billets per annum at Ghaziabad.

1987

  • There was a fall in production of pipes due to non-availability of raw materials.
  • Elcast Finance Pvt. Ltd. and Escal Finance Services Pvt. Ltd. became subsidiaries of the company.

1988

  • Operations were adversely affected by an acute shortage of basic raw materials, including pig iron.
  • The company proposed to modernise its melting technology to reduce dependence on pig iron.
  • The company undertook to set up a new unit at Khardah for production of ductile iron pipes.

1989

  • The company issued 4,00,000 secured partly convertible debentures of Rs 170 each.
  • 8,00,000 bonus equity shares were issued in the proportion 1:1.

1990

  • 9,20,000 equity shares were allotted in part conversion of 14% debentures.

1992

  • The company issued 25,20,000 secured partly convertible debentures on a rights basis to equity shareholders.
  • Part A of each debenture was to be automatically converted into one equity share on March 31, 1993.

1994

  • A new Ductile Iron pipe plant was being set up at Elavur with an installed capacity of 30,000 tonnes per annum.
  • The performance of the Ghaziabad unit was affected due to an increase in the cost of production and stiff competition.

1995

  • The company offered 30,28,560 partly convertible debentures on a rights basis to existing shareholders.

1996

  • The company proposed to diversify into other castings, including ductile iron pipe fittings.
  • The company undertook to establish separate independent facilities at its Grinding division.
  • The company proposed to set up a pig iron plant at Khardah and provide facilities at Elavur for making ductile iron pipes.

1997

  • The company had a technical collaboration with Luitpoldhutte AG and Technocomplex GmbH.
  • The company proposed to set up a manufacturing facility for ductile iron pipes in Gujarat.
  • The company closed its Ghaziabad unit due to a steep hike in electricity tariffs.

1998

  • The company decided to relocate its ductile iron pipe project from Elavur to Kolhapur.
  • The company commissioned a mini-blast furnace in September 1996, which helped increase operating profits by 108% in 1997.

1999

  • The company set up a 1,10,000 TPA cast iron pipe unit in Kolhapur.

2000

  • The board recommended a bonus issue in the ratio of 1:1.
  • Crisil assigned a 'AA+' rating to the company's non-convertible debenture programme and a 'P1+' rating to its commercial paper programme.

2003

  • Mr. Uddhav Kejriwal was appointed as Additional Director and Wholetime Director.
  • The company set up a wholly owned subsidiary in Spain.
  • The company's board approved the setting up of a Coke Oven plant at Haldia.

2004

  • The Stock Exchange - Ahmedabad delisted the company's equity shares.

2007

  • Mr. Sanjeev Churiwal was appointed as Company Secretary and Compliance Officer.
  • The company split its face value from Rs10 to Rs1.

2009

  • Mr. Vyas Ralli Mitre was appointed as Wholetime Director.

2010

  • The company made a Qualified Institutional Placement.
  • The company recommended a dividend of Rs. 1.25 per share, subject to shareholder approval.

2011

  • The company entered into a Joint Venture Agreement with Dart Energy Ltd.

2012

  • Mr. P. S. Nagi was appointed as Compliance Officer.
  • Mr. Anand Kumar Kanodia was appointed as Chief Financial Officer and Company Secretary.

2013

  • The board recommended a dividend of Re. 0.50 per share, subject to shareholder approval.
  • Ms. Kavita Bhavsar was appointed as Company Secretary and Compliance Officer.

2014

  • The board recommended a dividend of Re. 0.65 per share, subject to shareholder approval.

2019

  • The company commenced commercial production at its Ferro Alloy Plant in Haldia, West Bengal.

2020

  • The company expanded its Captive Power Plant at Haldia with a Waste Heat Recovery Boiler.

2022

  • Srikalahasthi Pipes Limited was merged into Electrosteel Castings Limited.

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