BSE: 544554
KVS Castings Limited
Makes iron and steel castings at its plant in Kashipur, Uttarakhand, supplying to industrial OEM customers. Installed capacity stood at 19,200 metric tonnes per annum (MTPA) after a new automated facility (Unit-2) was commissioned in March 2026, up from 7,200 MTPA — a jump of about 167%. Revenue from operations in FY26 was ₹5,139.90 lakhs, with profit after tax of ₹705.36 lakhs (up 7.09% year-on-year). The largest cost line is raw materials at 33.4% of revenue, and the biggest single related-party purchase disclosed for FY26 was ₹343.34 lakhs of raw material from Kashi Vishwanath Steels. Total capex in FY26 was ₹49.54 crore, equal to 96.4% of revenue, largely funded by an ₹27.83 crore IPO whose shares were listed on the BSE SME platform in October 2025. The company's stated roadmap targets further capacity expansion to 25,000 MTPA and diversification into the railway, defence, and electric vehicle sectors. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Castings manufacturing. Small-cap, asset-heavy, capacity-expanding castings manufacturer
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 51 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 4.34 |
| ROE % · ROCE % | — · 11.7 |
| Debt / equity (x) | — |
| Cash from operations | 5 |
| Capex | (50) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 24 | 27 |
| Profit before tax | 5 | 5 |
| Net profit | — | — |
| EPS (₹) | 2.68 | 2.06 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PTC INDUSTRIES LIMITED | 35,981 | 286.5 | 23.87 | 210.2 | 6.7 | 7.5 | 29.8 | 28.3 |
| AIA ENGINEERING LIMITED | 33,724 | 26.6 | 4.20 | 19.4 | 15.8 | 19.3 | 8.9 | 35.8 |
| HAPPY FORGINGS LIMITED | 17,054 | 52.0 | 8.01 | 34.6 | 14.2 | 18.5 | — | 33.8 |
| BALU FORGE INDUSTRIES LTD | 5,353 | 18.1 | 3.36 | 16.2 | 16.2 | 18.8 | — | 29.5 |
| STEELCAST LIMITED | 3,547 | 39.1 | 8.98 | — | 22.0 | 28.5 | — | 28.2 |
| Amic Forging Limited | 2,278 | 26.6 | — | — | — | 18.4 | — | — |
| INVESTMENT & PREC CAST L | 1,320 | 112.2 | 12.86 | 43.9 | 11.5 | 13.0 | 12.5 | 18.6 |
| NELCAST LIMITED | 1,092 | 26.5 | 1.82 | 10.2 | 8.1 | 9.4 | 16.8 | 5.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.4 | 26.1 | 5 of 22 | 81% |
| ROCE | 11.2 | 13.7 | 15 of 24 | 39% |
| Market cap | 119 | 409 | 17 of 24 | 30% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Routine RTA quarterly certificate filed under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 12 Oct 2026 · KVS Castings files Reg 74(5) compliance certificate with BSE for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · KVS Castings closes trading window ahead of H2 FY26 results | compliance | minimal | — | — |
| 14 Aug 2026 · 7th AGM of KVS Castings held on Aug 12, 2026 | board shareholder meetings | medium | — | — |
| 7 Aug 2026 · KVS Castings bags Rs 20 Crore railway parts order for Russian Railways | compliance | low | — | — |
| 7 Aug 2026 · KVS Castings wins ₹20 Crore railway components export order | compliance | low | — | — |
| 7 Aug 2026 · Investor meeting outcome: growth strategy discussed, no UPSI shared | investor communications | low | — | — |
| 7 Aug 2026 · KVS Castings bags export order worth about Rs 20 Cr for Russian Railways parts | business updates | high | — | — |
| 5 Aug 2026 · KVS Castings announces 7th AGM on 12 August 2026 | board shareholder meetings | low | — | — |
| 3 Aug 2026 · Investor Meet Scheduled on 6 August 2026 at 4 PM via Virtual Mode | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.