Electrosteel Castings Limited — Important, 29-05-2025: Disclosure of material issue

Electrosteel Castings has announced a board meeting to approve the financial results for the quarter and half-year. The company is acquiring 100% of Italy-based T.I.S Services S.p.A, a key player in valves and equipment for water mains, sewage treatment, and hydroelectric plants, for up to €15 million. This acquisition is expected to close within 6 to 9 months and aims to boost Electrosteel’s position in ductile iron pipes and fittings, enhancing both domestic and export markets. The move could improve strategic reach and operational efficiency. Investors should monitor the progress of integration and potential growth in the core business.