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CRISIL Research assigns fundamental grade of 3/5 to Electrosteel

Credit rating agency, CRISIL Research has assigned fundamental grade of 3/5 to Electrosteel Castings, indicating that its fundamentals are good relative to other listed securities in India. The rating agency has also assigned valuation grade of 5/5 to the company.

The company is setting up a 2.5 mn MTPA steel plant through ESL in Jharkhand. It has already started the commercial production of pig iron and TMT; commercial operation of coke oven and sinter plant has also started.

Electrosteel Castings is engaged in the manufacturing solutions for water supply and sewerage systems. ECL has been certified for ISO 9001:2000 standard by different bodies such as IRQS and BSI for the manufacture of DI pipes for water, sewerage, gas and ash transportation.

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