Electrosteel Castings Limited has received a comprehensive disclosure from its promoter group company, Electrosteel Thermal Coal Limited, regarding substantial share acquisitions under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure reveals significant investments by the promoter group that have increased their collective shareholding in the company.

Major Share Acquisitions

Electrosteel Thermal Coal Limited has disclosed two separate acquisitions that triggered the SEBI SAST disclosure requirements. The acquisitions include purchases by both the company and individual promoter group members through open market transactions.

Shareholding Pattern Changes

The acquisitions have resulted in a significant increase in the promoter group's collective shareholding in Electrosteel Castings Limited. The disclosure provides detailed before and after shareholding positions for all promoter group entities.

Key Promoter Group Entities

The disclosure reveals the comprehensive structure of the promoter group, with multiple entities holding varying stakes in Electrosteel Castings Limited. The major shareholders within the promoter group include both corporate entities and individual promoters.

Regulatory Compliance

The disclosure has been submitted in accordance with SEBI SAST Regulations to both BSE Limited and National Stock Exchange of India Limited. Electrosteel Thermal Coal Limited, incorporated under CIN U01010JH2006PLC012661 and registered in Jharkhand, has provided comprehensive details of all promoter group holdings.

The company's total equity share capital remains unchanged at 61,81,84,591 equity shares of face value Rs 1 each. The acquisitions represent strategic investments by the promoter group to strengthen their position in Electrosteel Castings Limited, which operates in the castings and engineering sector.

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.