Please find enclosed the Transcript of the Earnings Conference Call held on 29th May 2026
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Simplex Castings reported strong FY26 results with consolidated revenue up ~18% to ₹202 cr, EBITDA up 20% to ₹37.39 cr, and PAT up 40.5% to ₹21.26 cr. The company received RDSO approval to restart wagon bogie manufacturing (capacity of 200–250 bogies/month at ₹3.5 lakh per bogie) and secured a developmental order for fabricated bogies used in locomotives, Vande Bharat and metro coaches. Management guided FY27 revenue of ₹300 cr (₹200 cr existing + ₹50 cr cast bogies + ₹50 cr power) with margins maintained at 8–10%, and a multi-year FY28 target of ₹500 cr. The coke oven door business (currently ₹50–60 cr, ~70% India market share) is expected to grow to ₹100 cr over 2–3 years, with orders pending of ~₹150 cr overall (~₹35–40 cr from BHEL).
The call reaffirms a clear growth roadmap driven by railway bogies, fabricated bogies, power sector recovery and coke oven doors, which should lift investor sentiment. The explicit ₹500 cr FY28 target and ₹150 cr order book provide visibility, but flagged execution risks, possible further fundraising via second preferential allotment/debt, and high Indian valuation hurdles for acquisitions remain near-term overhangs.