Steelcast Limited has informed the Exchange about Transcript
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Steelcast reported strong Q4 FY25 results, with revenue up 19% QoQ and 23% YoY to INR 120.8 crore, and EBITDA margin expanding to 31.7% (up 387 bps QoQ). PAT grew 39% QoQ to INR 26.8 crore, and the company remains completely debt-free with INR 75 crore in free reserves despite spending INR 130+ crore on capex and dividends over three years. Management guided to 59% capacity utilization in FY26 (vs 45% in FY25), targeting ~17,000 tons of output, and expects to cross 90% utilization in 2-2.5 years on the back of the China Plus One strategy and new product launches. However, management stated the 32% EBITDA margin is not sustainable and guided to 25-26% as a normalized long-term level, since INR 12 crore of one-time benefits from lower input costs, exchange gains, and cost reductions boosted FY25 margins. Order book stands at INR 95 crore, and FY26 capex is planned at INR 38 crore.
The transcript reinforces a positive volume and growth story with strong order visibility, debt-free balance sheet, and geographic expansion into new markets like Brazil and Canada. However, the guidance of 25-26% sustainable EBITDA margins (versus 32% reported) signals margin normalization ahead, and US tariff uncertainty remains a key risk for the export-heavy business.