Electrosteel Castings announced that the Board of Directors of the Company at its meeting held on 10 May 2022, inter alia, have recommended the final dividend of Rs 0.8 per equity Share (i.e. 80%) , subject to the approval of the shareholders.

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Net profit of Electrosteel Castings rose 67.45% to Rs 112.93 crore in the quarter ended March 2022 as against Rs 67.44 crore during the previous quarter ended March 2021. Sales rose 28.23% to Rs 1576.95 crore in the quarter ended March 2022 as against Rs 1229.80 crore during the previous quarter ended March 2021.

For the full year,net profit reported to Rs 347.28 crore in the year ended March 2022 as against net loss of Rs 91.20 crore during the previous year ended March 2021. Sales rose 52.00% to Rs 5280.95 crore in the year ended March 2022 as against Rs 3474.20 crore during the previous year ended March 2021.

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Net profit of Electrosteel Castings rose 102.98% to Rs 122.62 crore in the quarter ended March 2022 as against Rs 60.41 crore during the previous quarter ended March 2021. Sales rose 35.03% to Rs 1555.33 crore in the quarter ended March 2022 as against Rs 1151.85 crore during the previous quarter ended March 2021.

For the full year,net profit rose 148.63% to Rs 325.60 crore in the year ended March 2022 as against Rs 130.96 crore during the previous year ended March 2021. Sales rose 63.05% to Rs 5014.83 crore in the year ended March 2022 as against Rs 3075.71 crore during the previous year ended March 2021.

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Electrosteel Castings will hold a meeting of the Board of Directors of the Company on 10 May 2022.

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