STEELCAST LIMITED

Makes steel and alloy castings at its Bhavnagar, Gujarat foundry, with current melting capacity of 29,000 tonnes per year. The company sells castings to mining, railway, auto and general engineering customers in India and abroad, with exports running at about 60% of revenue spread across 16 countries. Mining, which contributed 84% of revenue a decade ago, now accounts for about 27%, as the mix has been broadened into ground engaging tools (GEC), defence, railways and other industrial castings. Q1 FY27 revenue rose 17% year-on-year to ₹124.82 crore, with EBITDA of ₹35.2 crore and PAT of ₹23.7 crore. Order book stood at ₹140 crore, up 20% YoY, with capacity utilisation guided at 63% in FY27 and a target of 90% by FY29. A ₹120 crore greenfield foundry adding 8,500 tonnes is targeted for 31 March FY28 commissioning, funded entirely from internal accruals, with management citing roughly ₹300 crore of peak revenue potential at full ramp. The largest cost lines are other operating expenses at 39.9% of revenue, materials at 20.1% and employees at 12.5%, with depreciation at 3.0%.