Electrosteel Castings Limited (ECL), a leading manufacturer of ductile iron pipes, fittings, and valves, has announced its financial and operational performance for the quarter and nine months ended December 31, 2025. For Q3 FY26, total income declined 16.1% year-on-year to ₹1,526 crore, while nine-month income fell 19.3% to ₹4,602 crore, largely due to reduced government spending in recent quarters. EBITDA stood at ₹88 crore for the quarter and ₹474 crore for the nine-month period, with margins of 5.8% and 10.3% respectively. The company reported a net loss of ₹22 crore for Q3 FY26 and ₹145 crore for the nine months, reflecting an exceptional provision of ₹38 crore related to compliance with the new labour code.
Adjusted financials showed Q3 FY26 income of ₹1,290 crore and nine-month income of ₹4,000 crore, impacted by muted demand and slower execution of water infrastructure projects. EBITDA for the adjusted period stood at ₹83 crore for the quarter and ₹442 crore for nine months, with margins of 6.4% and 11.1%. Net loss for Q3 FY26 was ₹20 crore, while nine-month profit stood at ₹180 crore.
Sales volume for Q3 FY26 stood at 1.34 lakh tonnes of ductile iron and cast iron pipes and fittings, compared with 1.39 lakh tonnes in the previous quarter. Looking ahead, the Government of India has revised the Jal Jeevan Mission allocation to approximately ₹17,000 crore for FY26 under revised estimates and allocated ₹67,600 crore for the next financial year. ECL expects execution to improve as government funding normalises and policy focus on rural water supply continues.
Electrosteel Castings Limited is a pioneer in ductile iron pipes and fittings in India and South Asia, with exports to over 130 countries across five continents. The company operates five integrated manufacturing units in India and two valve manufacturing facilities in Italy, offering a diversified product portfolio across water infrastructure, metallurgy, cement, power, and allied sectors.
