Electrosteel Castings Limited — Investor Meet, 10-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Electrosteel Castings reported a consolidated Q3 FY26 loss of Rs. 22 Cr (including a Rs. 38 Cr exceptional item) on Rs. 1,526 Cr total income, with EBITDA at Rs. 88 Cr (5.8% margin). Sales volumes declined due to temporary government spending delays in the Jal Jeevan Mission (JJM), causing demand and pricing pressure. Management believes the slowdown is temporary. With a revised ~Rs. 17,000 Cr JJM budget for FY26 and Rs. 67,600 Cr for FY27, demand is expected to improve, rebouning strongly from Q1 FY27. Exports grew 11% QoQ, partially offsetting domestic weakness. The company is focused on cost discipline and product diversification, including DI valves. Long-term prospects for the water sector remain positive.