Electrosteel Castings Ltd., a leading global manufacturer of Ductile Iron (DI) pipes and fittings, today announced the acquisition of Italy-based T.i.S. Service S.p.A. for an investment of ₹150 crore. The strategic acquisition makes T.i.S. Service a wholly-owned subsidiary, significantly enhancing Electrosteel's portfolio and positioning it as a comprehensive solutions provider for the water infrastructure sector.

The acquisition was funded entirely through internal accruals, underscoring Electrosteel's strong financial health and commitment to its long-term growth strategy.

T.i.S. Service, a key player in the European valve manufacturing sector, has a turnover of approximately €40 million and operates manufacturing plants in Italy and Turkey, with logistics hubs in Poland and Italy. This geographical footprint will be a major asset for Electrosteel.

"This acquisition is a landmark step in our journey to become a holistic solutions provider for water infrastructure," said Madhav Kejriwal, Whole-Time Director, Electrosteel Castings. "With pipes, fittings, and now valves under our umbrella, we can offer a complete product suite to our customers worldwide. This move was a perfect opportunity to accelerate our plans for developing valve capabilities."

The acquisition is expected to significantly boost Electrosteel's presence in international markets. Europe is already a major export destination, accounting for around 15% of the company’s total sales in the last fiscal year.

"This acquisition will not only strengthen our position in Europe but also allow us to offer a broader and more integrated product profile to our customers in Asia, the Middle East, and especially in India," Kejriwal added.

Despite recent global challenges, including geopolitical tensions and supply chain disruptions, Electrosteel has maintained a strong reputation and secured repeat orders from existing customers, demonstrating its resilience in a difficult market. The company’s consolidated revenue for the last fiscal year was ₹7,319.97 crore.