5001282025-01-012025-03-315001282025-03-315001282024-03-315001282024-04-012025-03-315001282025-01-012025-03-31in-capmkt:OtherExpenses1Member5001282024-04-012025-03-31in-capmkt:OtherExpenses1Member5001282025-01-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15001282025-01-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25001282024-04-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15001282024-04-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25001282025-01-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15001282024-04-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15001282025-01-012025-03-31AuditorDomain15001282025-01-012025-03-31in-capmkt:AuditedMember5001282025-03-31in-capmkt:AuditedMember5001282025-01-012025-03-31in-capmkt:AdjustedMember5001282025-03-31in-capmkt:AdjustedMember5001282025-01-012025-03-31AuditQualification15001282025-01-012025-03-31AuditQualification2iso4217:INRiso4217:INRxbrli:shares500128ELECTCASTNAINE086A01029ELECTROSTEEL CASTINGS LIMITEDMain BoardEquity2024-04-012025-03-312025-05-102025-05-02INRLakhsQuarterlyFourth quarterSingle segmentThe company operates mainly in one business segment viz. Pipes and all other activities revolve around the main business.2025-05-1011:30:002025-05-1015:15:00trueCash Flow IndirectStatement on impact of audit qualification2025-01-012025-03-31AuditedConsolidated17006816000386472000173932880008738449000463977000-9422840001427795000345073000373837000572287600016129723000126356500001263565000276387000-695882000-41949500001683060000000016830600006698900017500490001683132000-720001750121000-7200061818400012.722.72002.722.726 In terms of the share purchase agreement entered with the shareholders of Singardo International Pte Limited Singardo on September 25 2024 the parent agreed to acquire 9911 of the Equity Shares at a consideration of SGD 6442450 The parent has remitted the entire consideration equivalent to Rs 414897 lakhs on October 07 2024 and on allotment of Equity Shares thereafter on October 22 2024 Singardo has become a wholly owned subsidiary of the parent <BR> <BR> For the purpose of consolidation as required in terms of the Ind AS 103 Business Combination the parent has carried out fair valuation of the assets and liabilities as per the audited financial statement of Singardo as on October 21 2024 by an independent valuer appointed in this respect and the values so arrived at have been taken into consideration for the purpose of the consolidated financial results of the Group <BR> <BR> 7 Subsequent to the balance sheet date the Board of Directors of the parent has recommended a final dividend of Rs 140 per share to be paid on fully paid equity shares in respect of the financial year ended March 31 2025 This equity dividend is subject to approval by the shareholders at the ensuing Annual General Meeting and has not been included as a liability in these consolidated financial results The estimated amount of final dividend to be paid thereof amounts to Rs 865458 lakhs <BR> <BR> 8 The figures for the quarters ended March 31 2025 and March 31 2024 are the balancing figures between the audited figures in respect of the full financial year and the year to date figure upto the quarter ended December 31 of the respective years which were subject to limited review by the Statutory Auditors <BR> <BR> 9 Previous periods figures have been regroupedrearranged wherever necessary <BR> 2024-04-012025-03-31AuditedConsolidated73199671000123111100074430782000364430450001619229000-196538000055186850001607087000142052600021226414000658696060008561176000085611760002162836000-69878800014640480000709712800000007097128000-250580007072070000709557900015490007070521000154900061818400015719775200011.4811.480011.4811.48Other Expenses5722876000Other Expenses2122641400030180687000124889330000216030008143640000004933940000110460006237233000674167300001524620005039972200024639719000958803000148274450001673531000382776000022147550002005731000001856409000465534380000096953160000618184000571977520005781593600011266000578272020002182142000000608248200082646240004898690002347256000023438600011336135000184146780001604000005404816000556521600097814500024958039000242699500031673500088054000027789823000003912595800096953160000Other explanatory Notes for preparing XBRL <BR> <BR> <BR> 1 Other intangible assets of Rs 814364 lakhs is inclusive of Right of Use assets of Rs 771603 lakhs <BR> <BR> 2 Other non current assets of Rs 152462 lakhs is inclusive of Noncurrent tax assets Net Rs 79576 lakhs <BR> <BR> 3 Other noncurrent financial liabilities of Rs 6082482 lakhs is inclusive of Non current lease liabilities of Rs 488453 lakhs <BR> <BR> 4 Other non current liabilities of Rs 234386 lakhs is inclusive of Noncurrent Tax Liabilities Net of Rs 196979 lakhs <BR> <BR> 5 Other current financial liabilities of Rs 978145 lakhs is inclusive of current lease liabilities of Rs 169257 lakhs1607087000-1635102000-10823690000-843640000000-984971000000142052600000000-8933700005716180000-32283000000-1002650000-1552696000700848000000022040200000480446000000000000364690002776527000391834650003897296800000000000000000002766580000833859000-141904400000000000022833120005400100055636600016443360000-5949000-4543964000-11585480000-115854800028320790001673531000Remeasurements of the defined benefit plans-20086000Equity instruments through other comprehensive income12000-20074000Remeasurements of the defined benefit plans-11831000Equity instruments through other comprehensive income-103143000-114974000-5093000-2888000Foreign currency translation differences8197000081970000Foreign currency translation differences87028000870280000066989000-25058000AuditedQualified opinionLodha & Co LLPtrue2027-03-31744307820007443078200065869606000658696060007072070000707207000011.4811.48969531600009695316000096953160000969531600005782720200057827202000Note no 3 regarding cancellation of coal block allotted to the parent in earlier year and adjustments to be given effect to in respect of the claims made by the parent amount awarded so far in this respect and required disclosures adjustments in terms of Ind AS with respect to the carrying amounts of the property plant and equipment capital work in progress inventory and balances lying under other heads of account and carried forward pending determination of the amount of claim in this respect due to the reasons stated therein <br></br> <br></br> Pending finalization of the matters dealt with in above impacts thereof are presently not ascertainable and as such cannot be commented upon by usQualified opinionRepetitiveNot ApplicableNot ApplicableIn pursuance of the Order dated September 24 2014 issued by the Honble Supreme Court of India the Order followed by the Ordinance promulgated by the Government of India Ministry of Law Justice legislative department dated October 21 2014 Ordinance for implementing the Order allotment of Parbatpur coal block coal blockmines to the Parent which was under advanced stage of implementation had been cancelled wef April 01 2015 In terms of the Ordinance the parent was allowed to continue the operations in the said coal block till March 31 2015 Accordingly the said coal block had been handed over to Bharat Coking Coal Limited BCCL as per the direction from Coal India Limited CIL with effect from April 01 2015 and the same was thereafter allotted to Steel Authority of India Limited SAIL and pending final determination compensation of Rs 831214 lakhs was received The parent also came to understand that SAIL subsequently handed over back the said coal block to the custody of BCCL <br></br> <br></br> Following a petition filed by the parent the Honble High Court at Delhi had pronounced its judgement on March 09 2017 Accordingly based on the said judgement the parent has so far claimed Rs 15494448 lakhs towards compensation against the said coal block and acceptance of the same is awaited The Nominated Authority appointed for deciding the amount of compensation had upheld its decision of compensation already paid which was set aside by the Honble High Court with a direction to the Nominated Authority to reconsider the same The Nominated authority further passed an order dated November 11 2019 awarding an additional compensation of Rs 18000 lakhs with a further direction to redetermine the value of certain assets by the appropriate authority Subsequently a newly appointed Nominated Authority New Nominated Authority had appointed a valuer to determine the value of those specified assets as per the direction of the Nominated Authority dated November 11 2019 The parent came to understand that valuation report recommending a valuation of total directhard cost for specified assets has been submitted to the New Nominated Authority Moreover the parent had also earlier approached the New Nominated Authority Ministry of Coal Ministry to reconsider the compensation determined by the previous Nominated Authority for land and some other major assets and the final compensation is yet to be decided <br></br> <br></br> In the meantime JSW Steel Limited JSW had been declared as successful bidder for Parbatpur Coal Block in 16th Tranche of Auction Under Coal Mines Special Provisions Act 2015 and vesting order dated June 08 2023 was issued by the Ministry of Coal in favour of JSW JSW as being claimed by them took over the physical possession of said coal block and has therefore requested to initiate negotiations for utilization of movable property assets used in coal mining Pending determination of the amount of claim the parent has approached Honble Delhi High Court and the matter is pending as on this date The parents management is actively pursuing to revise and determine the amount of entire compensation for the coal block including mine infrastructure land and all other related assets in terms of Coal Mines Special Provisions Act 2015 read with judgement dated March 09 2017 pronounced by the Honble High Court of Delhi and is taking all the necessary legal and other steps for the same <br></br> <br></br> Pending finalisation of the matter as above <br></br> <br></br> i Rs12888411 lakhs incurred pertaining to the coal block till March 31 2015 after setting off income stocks etc there against as per the accounting policy then followed by the Parent has been continued to be shown as freehold land capital work in progress other fixed assets and other respective heads of account <br></br> ii Interest and other finance cost for the year ended March 31 2016 against the fund borrowed and other expenses directly attributable in this respect amounting to Rs 951474 lakhs have been considered as other recoverable under current assets and <br></br> iii Compensation of Rs 831234 lakhs so far received and net realisationsclaims against sale of assets advances input credits etc amounting to Rs 209004 lakhs have been adjusted Bank guarantee amounting to Rs 92000 has been given against the compensation received <br></br> <br></br> Necessary disclosures and adjustments arising with respect to above and determination of resultant claim will be given effect to on final acceptancesettlement of the amount thereof <br></br> As stated herein above the impact with respect to above and consequential adjustments cannot be ascertained and as such cannot be commented upon by usNote no 4a in respect of parents investment in the equity shares of ESL Steel Limited ESL the pledge of which was invoked by the lenders of ESL and the same was set aside by Honble High court at Kolkata and the matter is currently pending before the said court Further as stated in Note no 4b dealing with mortgage of Land at Elavur plant in favour of one of the lenders of ESL who had assigned their rights to another party and symbolic possession of the said land was taken by the said party The matter has been disputed by the parent and as stated in the said note is currently pending before DRAT and Honble Madras High Court <br></br> <br></br> Pending finalization of the matters dealt with in above impacts thereof are presently not ascertainable and as such cannot be commented upon by usQualified opinionRepetitiveNot ApplicableNot ApplicableIn view of approved resolution plan as confirmed by Honble National Company Law Appellate Tribunal NCLAT by its order dated August 10 2018 and pursuant to issuance of additional Equity Shares by ESL Steel Limited ESL for giving impact of the resolution plan ESL had ceased to be an associate of the parent during the quarter ended June 30 2018 To comply with the requirements of Ind AS 109 Financial Instruments the parent had fair valued the investment in ESL and a sum of Rs 5786838 lakhs representing difference between the carrying value of said investment and fair value on the date of change of status was considered as exceptional item in statement of Profit and Loss in the quarter ended June 30 2018 Further in terms of the approved resolution plan advances and trade receivable amounting to Rs 2112170 lakhs receivable from ESL was written off during the quarter ended September 2018 shown as exceptional item in the statement of Profit and Loss <br></br> <br></br> The parent Company had elected the option under the said Ind AS to present the subsequent fair value changes of the said investment through Other Comprehensive Income During the year the parent company has fair valued the equity share of ESL and a loss of Rs 103731 lakhs has been accounted for under other comprehensive income <br></br> <br></br> Investment in ESL include 17334999 equity shares of Rs 10 each in ESL amounting to Rs 431121 lakhs as on March 31 2025 which were pledged with the consortium of lenders of ESL lenders and the said pledge was not released by the lenders even after the settlement of their debt as per the approved resolution plan as above The notices issued by the lenders for invocation of pledge of parents investment was set aside by the Honble High Court at Calcutta in the earlier year and the parents plea for release of such pledge is pending before the said Honble High Court <br></br> <br></br> In the earlier years certain land amounting to Rs 2949358 lakhs of the parent situated at Elavur Tamil Naidu were mortgaged to another lender SREI Infrastructure Finance Limited SREI of ESL and SREI had subsequently assigned its right in the said property to an Asset Reconstruction Company ARC although the claims of the said lender were fully discharged by ESL as per the Resolution Plan approved by Honble National Company Law Tribunal NCLT Kolkata Subsequently the ARC had issued SARAFESI Notice and taken the symbolic possession of the said land The parent had disputed the alleged assignment of the loan by the lender and as directed by the Honble Supreme Court had filed an application before the Debt Recovery Tribunal DRT Chennai for setting aside the SARAFESI actions and release of the title deeds of the land which vide order dated April 08 2022 uploaded on April 27 2022 had been dismissed by DRT On filing the appeal before the Debt Recovery Appellate Tribunal DRAT against the order of DRT DRAT has directed the parent to deposit 50 of the SARAFESI demand ie Rs 2935504 lakhs against which revision application under Article 227 of the Indian Constitution and a Writ Application under Article 226 of Indian Constitution has been filed before Honble Madras High Court and the matter is pending before the said court <br></br> <br></br> Earlier the ARC had also filed an application before Honble NCLT Cuttack for initiation of Corporate Insolvency and Resolution Process CIRP against the parent which had been decided in the favour of the parent vide NCLT order dated June 24 2022 the Order The said order on being challenged by the ARC has been upheld by Honble National Company Law Appellate Tribunal NCLAT vide its order dated January 24 2024 and thereby the order dismissing the application of ARC by NCLT as above stands valid and effective The judgement of NCLAT has been challenged before the Honble Supreme Court of India which is yet to be decided by the said court <br></br> <br></br> Pending finalization of the matter these assets have been carried forward at their book value <br></br> As stated herein above the impact with respect to above and consequential adjustments cannot be ascertained and as such cannot be commented upon by usSUNIL KATIALASHUTOSH AGARWALJINENDRA KUMAR JAINR P SINGHKOLKATA2025-05-10