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%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Castings for mining sector (27%), Ground Engaging Tools (GEC) (1%), Defence castings (1%), Exports (49%), Domestic sales (51%). Cyclical, asset-heavy industrial castings serving diversified engineering end-markets; debt-free, funded by internal accruals
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 302 | 477 | 410 | 376 | 423 |
| EBITDA (ex other income) | 64 | 114 | 117 | 106 | 114 |
| margin % | 21.1 | 23.9 | 28.6 | 28.2 | 27.0 |
| Owners' profit | 33 | 71 | 75 | 72 | 87 |
| EPS, as reported (₹) | 16.44 | 34.84 | 37.06 | 35.67 | 8.58 |
| ROE % · ROCE % | 21.3 · 28.2 | 32.8 · 43.4 | 27.8 · 36.5 | 22.2 · 29.0 | 22.0 · 28.6 |
| Debt / equity (x) | 0.40 | 0.11 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | 108 | 68 | 74 | 86 |
| Capex | (33) | (47) | (18) | (17) | (33) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 76 | 102 | 121 | 107 | 107 | 97 | 112 | 125 |
| Profit before tax | 18 | 26 | 36 | 27 | 31 | 28 | 31 | 32 |
| Net profit | 13 | 19 | 27 | 20 | 23 | 21 | 23 | 24 |
| EPS (₹) | 6.57 | 9.49 | 13.22 | 9.82 | 2.29 | 2.03 | 2.29 | 2.34 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| AIA ENGINEERING LIMITED | 38,261 | 30.2 | 4.76 | 22.0 | 15.8 | 19.3 | 8.9 | 35.8 |
| PTC INDUSTRIES LIMITED | 35,141 | 279.8 | 23.32 | 205.3 | 6.7 | 7.5 | 29.8 | 28.3 |
| HAPPY FORGINGS LIMITED | 20,465 | 62.5 | 9.62 | 41.4 | 14.2 | 18.5 | — | 33.8 |
| BALU FORGE INDUSTRIES LTD | 6,464 | 21.9 | 4.05 | 19.6 | 16.2 | 18.8 | — | 29.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Steelcast to meet SBI Mutual Fund on September 16, 2026 | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Steelcast Q1 FY27 call: 17% revenue growth, 25-30% volume target, INR120cr capex | investor communications | medium | — | — |
| 31 Jul 2026 · Steelcast 55th AGM voting results: All 7 resolutions passed | compliance | minimal | — | — |
| 30 Jul 2026 · Steelcast shares Q1FY27 earnings call audio recording on website | investor communications | low | — | — |
| 29 Jul 2026 · Record Date set for First Interim Dividend FY2026-27 | corporate actions | high | — | — |
| 29 Jul 2026 · Board approves Rs 0.45 interim dividend, Q1 profit up 19 percent | corporate actions | high | — | — |
| 29 Jul 2026 · 55th AGM proceedings - final dividend 54% and interim 45% approved | board shareholder meetings | low | — | — |
| 29 Jul 2026 · Steelcast Q1FY27 results: Revenue up 17%, PAT at Rs 23.7 Cr | investor communications | medium | — | — |
| 29 Jul 2026 · Board approves Rs 120 Cr Greenfield Foundry capacity addition of 8500 Tons | capex operations | high | — | — |
| 29 Jul 2026 · Q1 FY27 results, Rs 120 Cr capex, 45% interim dividend | results | high | — | — |
| 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 |
| STEELCAST LIMITED ◆ | 3,313 | 36.5 | 8.39 | — | 22.0 | 28.5 | — | 28.2 |
| Amic Forging Limited | 2,553 | 29.8 | — | — | — | 18.4 | — | — |
| INVESTMENT & PREC CAST L | 1,406 | 119.5 | 13.70 | 46.6 | 11.5 | 13.0 | 12.5 | 18.6 |
| NELCAST LIMITED | 940 | 22.8 | 1.57 | 8.9 | 8.1 | 9.4 | 16.8 | 5.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 36.5 | 29.9 | 15 of 22 | 33% |
| P/B | 8.4 | 4.1 | 17 of 20 | 16% |
| ROCE | 28.5 | 13.7 | 1 of 24 | 100% |
| ROE | 22.0 | 11.5 | 2 of 20 | 95% |
| Debt / Equity | 0.0 | 0.1 | 2 of 20 | 79% |
| EBITDA margin | 28.2 | 18.5 | 7 of 20 | 68% |
| Revenue growth | 17.0 | 12.2 | 8 of 18 | 59% |
| Profit growth | 19.3 | 19.3 | 9 of 17 | 50% |
| Market cap | 3313 | 482 | 5 of 24 | 83% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
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