Transcript of the H2 FY26 Earning Conference call held on 21.05.2026
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Swastika Castal Limited reported FY'26 total income of INR 36.19 crores (19.50% YoY growth), EBITDA of INR 6.22 crores, and PAT of INR 3.28 crores. Growth was primarily volume-driven with limited pricing impact. Operating cash flow turned negative due to strategic working capital buildup for raw material security, inventory accumulation for new machines commissioned in March, and March-end customer payment delays. Management expects margins to improve through operating leverage as capacity utilization increases. FY'27 is expected to deliver stronger growth than FY'26, though no specific guidance was provided. New export customers added (QAG - Australia, Trench - Europe), and management notes customers like Hitachi, ABB, Siemens, GE, and Toshiba are booked for at least 5 years.
The company delivered solid revenue growth but faces near-term cash flow pressure from working capital investments. New capex becoming operational should support better margins and volumes going forward. Customers are long-term contracted, providing revenue visibility.