Electrosteel Castings Limited’s Board of Directors approved the unaudited consolidated and standalone financial results for Q3 2026 (Oct-Dec). They re-appointed Mr. Sunil Katial as Whole-time Director and CEO for five years, starting April 1, 2026. His remuneration for three years is subject to shareholder approval. The company will purchase green power for its Srikalahasthi Works.
Financial Results Approved
Electrosteel Castings Limited has announced the approval of its unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025 (Q3 2026).
CEO Re-appointment
The Board has re-appointed Mr. Sunil Katial (aged 69) as the Whole-time Director and Chief Executive Officer of the Company, effective April 1, 2026. The re-appointment is for a term of five consecutive years. His remuneration is approved for a term of three consecutive years, pending shareholder approval. Mr. Katial has over 47 years of experience in the Steel and Power Industry.
Power Purchase Agreement
The company will enter a Power Purchase Agreement to buy green power required for Srikalahasthi Works (SW). It will use the Interstate Group Captive Power Purchase (GCPP) Model through a Special Purpose Vehicle (SPV). Electrosteel Castings will invest around ₹7.00 Crores, subscribing to 26% of the SPV’s equity.
SPV Details
The SPV, which is yet to be incorporated, will operate in the power sector. It will not be a related-party transaction, but will become an associate company of Electrosteel Castings Limited.
Source: BSE
