NELCAST LIMITED

Manufactures iron castings supplied to the automotive, tractor, commercial vehicle and railway industries. The BRSR filing describes it as an iron castings maker for autos, tractors and railways, with FY26 turnover of Rs 1,328.4 crore and exports of 29 percent shipped to 13 countries. The bulk of revenue is driven by tractor and commercial vehicle demand, which the company flagged as healthy in its Q1 FY27 commentary, while new product lines were slated to start production in Q2 FY27 with a full ramp-up expected in H2 FY27. Cost structure in FY26 was dominated by materials at 43.4 percent of revenue, followed by other operating expenses at 41.2 percent, with employee costs at 6.8 percent and depreciation at 2.0 percent. Profitability compressed sharply in Q1 FY27, with EBITDA margin falling to 5.8 percent from 9.6 percent a year earlier, which management attributed to elevated raw material costs linked to geopolitical issues and labour constraints. The subsidiary NC Energy has not yet started operations, so consolidated results match the standalone numbers.