Announced Wed, 29 Jul · 17:21 IST
Board approves Rs 120 Cr Greenfield Foundry capacity addition of 8500 Tons
STEELCAS · price
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AI summary
Steelcast board approved setting up a Greenfield Foundry adding 8500 tons capacity (29 percent rise from 29000 tons) for Rs 120 Crores, funded by internal accruals, to be completed by March 2028. Demand expected to push utilization to 90 percent by March 2029. Q1 FY27 revenue rose 17 percent YoY to Rs 124.82 Cr; PAT up 19 percent to Rs 23.71 Cr. First interim dividend of Rs 0.45 per share declared.
Likely market impact
Significant capex of Rs 120 Cr (about 30 percent of networth) signals growth confidence, funded internally. Strong Q1 and 45 percent interim dividend are positive.