SIMPLEX CASTINGS LTD.

A 60-year-old engineering firm runs fabrication, foundry and machining operations out of Bhilai and Tedesara in Chhattisgarh, making cast and fabricated steel components for steel plants, thermal power OEMs, Indian Railways, defence shipyards, and pump/valve makers. In steel, it casts coke oven doors — claiming ~70% of India's market — and supplies fabricated equipment to OEM customers such as ThyssenKrupp, SMS Group, Hindustan Zinc and SAIL (it is SAIL's official fabrication partner), with coke oven door revenue at ₹50-60 cr and SMS-group door orders of about ₹23 cr per battery. In power, it fabricates components for thermal plant builders; the pending power book stands at ₹150 cr including ₹35-40 cr from BHEL. In railways, RDSO approval has been received to restart cast wagon bogie production after a 5-6 year gap, with a planned capacity of 200-250 bogies per month at ₹3.5 lakh per bogie, alongside a developmental fabricated bogie order covering locomotives, Vande Bharat, metro and coaches. Defence/shipbuilding (orders from Mazgaon Dock) and pumps/valves are smaller, longer-tenor verticals. The order book crossed ₹130 cr in Q1 FY27 and is described as having 4-6 months execution visibility. Materials account for 76.3% of revenue, employees 4.9%, other opex 10.0%, depreciation 1.8%, and capex 9.6%; FY27 capex is guided at ₹25 cr.