Electrosteel Castings Limited has received another disclosure from its promoter group company, Electrosteel Thermal Coal Limited, regarding additional share acquisitions under SEBI (Prohibition of Insider Trading) Regulations, 2015. This latest acquisition follows the company's earlier substantial share purchases that significantly increased the promoter group's collective shareholding.

Latest Share Acquisition Details

Electrosteel Thermal Coal Limited has disclosed a fresh acquisition of equity shares in Electrosteel Castings Limited through open market transactions on the National Stock Exchange. The transaction represents a continued investment strategy by the promoter group entity.

Updated Shareholding Position

Following this latest acquisition, Electrosteel Thermal Coal Limited's direct shareholding in Electrosteel Castings Limited has increased from the previous holding. The disclosure shows the updated shareholding pattern as per SEBI regulations.

Regulatory Compliance Framework

The disclosure has been submitted in accordance with Regulation 7(2) read with Regulation 6(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. Electrosteel Thermal Coal Limited, incorporated under CIN U01010JH2006PLC012661, has provided comprehensive transaction details in Form C to both BSE Limited and National Stock Exchange of India Limited.

Previous Major Acquisitions

This latest purchase adds to the promoter group's earlier significant acquisitions, including the substantial purchase of 2,05,00,000 equity shares and additional acquisitions by individual promoter group members. The cumulative effect of these transactions has strengthened the promoter group's position in Electrosteel Castings Limited.

Corporate Structure

Electrosteel Castings Limited, with its registered office at Rathod Colony, Rajgangpur, Odisha, continues to maintain its total equity share capital of 61,81,84,591 equity shares of face value Rs 1 each. The company operates in the castings and engineering sector and has been receiving continued support from its promoter group entities through strategic investments.

Electrosteel Castings Limited has published newspaper advertisements regarding its postal ballot notice under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, seeking shareholder approval for the re-appointment of Mr. Sunil Katial as Whole-time Director and Chief Executive Officer. The company published the public notice on March 14, 2026, in Financial Express (all editions) in English and Pratidin (in Rajgangpur) in Odia.

Postal Ballot Advertisement Details

The newspaper advertisement confirms that the company has completed dispatch of the postal ballot notice on March 13, 2026, to members whose email addresses are registered with the company or depositories. The advertisement provides information on the e-voting process and timeline for shareholders.

E-voting Schedule and Process

The remote e-voting period is scheduled to commence on Saturday, March 14, 2026 at 09:00 a.m. IST and conclude on Sunday, April 12, 2026 at 05:00 p.m. IST. The company has set March 6, 2026 as the cut-off date for determining eligible shareholders for the e-voting process.

Proposed Re-appointment Details

The special resolution seeks to re-appoint Mr. Sunil Katial (DIN: 07180348) as Whole-time Director and Chief Executive Officer for a term of 5 consecutive years, effective from April 1, 2026. The proposal includes detailed remuneration structure for the initial 3 years of his tenure.

Remuneration Structure

Executive Profile and Experience

Mr. Sunil Katial, aged 69 years, holds a B.Tech. (Electrical Engineering) degree from Punjab Engineering College, Chandigarh. He brings over 48 years of experience in the Steel and Power Industry. His career spans various leadership roles, including over 26 years with Steel Authority of India, CEO position at a 1.3-million-ton Steel Plant in Nigeria, and President (Operations) role with Global Steel Holding Ltd in Libya.

Mr. Katial joined Electrosteel Castings Limited in November 2018 and was appointed as Chief Executive Officer effective January 29, 2019. He was subsequently appointed as Chief Executive Officer and Whole-time Director effective April 1, 2020, and re-appointed effective April 1, 2023. His current term expires on March 31, 2026.

Company Financial Performance

The company's recent financial performance demonstrates consistent profitability across multiple years:

The result of the postal ballot will be declared on or before April 14, 2026, and will be communicated to all stock exchanges where the company's equity shares are listed. Members whose names appear in the Register of Members or Beneficial Owners as on the cut-off date are eligible to participate in the e-voting process.