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Alen Mathew

9amPrime

#ELECTCAST The Board of Directors of *Electrosteel Castings Limited* ("Electrosteel" / "EGL") and *Srikalahasthi Pipes Limited* ("Srikalahasthi" / "SPL") at their respective Board meetings held on 5th October, 2020 approved a draft Scheme of Amalgamation ("the Scheme") for the merger of Srikalahasthi with Electrosteel. Transaction Overview: - *Srikalahasthi shareholder to receive 59 equity shares of ECL for every 10 equity shares held in SPL* - On completion of merger, Srikalahasthi shareholder to get direct participation in the largest domestic DI Pipe manufacturing company (EGL) in India. The respective boards considered and approved plans to reorganize the businesses with a view to - Simplify the group structure - One listed entity in the group having similar business operations - Consolidate operating manufacturing business in one larger entity - Merged entity to have DI Pipe manufacturing capacity of 8 Lakh tonne in India with a market share of 30% - Pursue focused growth towards Pan India presence & expand global presence - leverage effect in terms of increased production capacity, research and development initiatives to improve manufacturing process and final product - Improved credit rating and financing at reduced interest rates Commenting on the merger, Mr Ashutosh Agarwal, Executive Director (Group Finance) and CFO of ECL, said, "The merger will achieve the group objective of consolidating its DI Pipe Manufacturing Business into a single entity, thereby creating a platform that will help in pursuing aggressive growth going forward domestically as well as internationally." Mr Ashutosh Agarwal further said, "The combined profitability & cash flow of the resultant merged entity will provide an impetus to our growth and will act as a force multiplier to our efforts of increasing market share. The financial indicators post-merger will support Electrosteel to maintain its credit rating. We expect Electrosteel to be re-rated on completion of the merger process." The Scheme is subject to stakeholder approvals, regulatory approvals including Stock Exchanges, Competition Commission of India, National Company Law Tribunals and other relevant authorities, as may be required.

Sridhar Balakrishnan

#InvestmentIdeas https://www.equitybulls.com/admin/news2006/news_det.asp?i... #SRIPIPES #ELECTCAST

Alpha Signals

Traders Premier -display-image
Reputation: 2,702  •  Apr 1 6:27 AM
Traders Premier in ELECTCAST
New trade: Buy ELECTCAST, CMP@39.7, Enter@39.75...
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Reputation: 9,084  •  Jan 23 4:00 AM
Breakout in Electrosteel Castings... for NSE:ELECTCAST by MandeepSinghKohli
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
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Reputation: 8,111  •  Dec 30, 2021 2:42 AM
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Harry-display-image
Reputation: 1,905  •  Nov 14, 2021 9:19 AM

*Electrosteel Castings Ltd.* | *CMP* Rs. 35 | *M Cap* Rs. 1515 Cr | *52 W H/L* 44/20
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 1165.4 Cr (6.2% QoQ, 55.3% YoY) vs QoQ Rs. 1096.9 Cr, YoY Rs. 750.3 Cr
EBIDTA came at Rs. 132.4 Cr (-16.9% QoQ, 62......read more
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Banknifty Option-display-image
Reputation: 2,463  •  Jun 29, 2021 4:37 AM
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Aryan Wealth Management -display-image
Reputation: 484  •  Jun 15, 2020 9:18 AM
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