07
Oct
12:14
Electrosteel Castings to amalgamate with DI pipe subsidiary
Electrosteel Castings Limited (ECL)’s board has approved the firm’s amalgamation with Srikalahasthi Pipes Limited (SPL). The move is subject to necessary statutory and regulatory approvals.
SPL and ECL are both part of the ECL group. The former’s turnover was INR 1,662.90 crores ($226.8 million) and the latter’s INR 2,479.89 crores in the fiscal year through March 2020. Both firms mainly produce ductile iron (DI) pipe.
“It would be a…
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