Nelcast Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Iron Castings: 100.0%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good profit growth of 39.9% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 16.7% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.55x)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Recent results are weak - TTM profit is down 21.2% versus prior year
- Company has a low return on equity of 8.8% over last 3 years
- Company has a low return on capital employed of 11.3%
- Recurring exceptional / one-off items are inflating headline profit
- Growth is decelerating - 3Y profit CAGR (17.7%) trails the 5Y trend (39.9%)
- Though reporting repeated profits, the company pays out little dividend (12.7%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| AIAENG | 4110.90 | 30.30 | 38363.07 | 0.39 | 300.99 | -1.37 | 1168.02 | 13.84 | 21.16 | 26.89 |
| PTCIL | 22317.95 | 266.41 | 33460.30 | 0.00 | 29.19 | 466.19 | 191.80 | 97.42 | 8.43 | 25.49 |
| STEELCAS | 322.15 | 35.95 | 3260.16 | 0.53 | 23.71 | 19.28 | 124.82 | 16.99 | 32.41 | 25.63 |
| ALICON | 738.80 | 33.16 | 1212.51 | 0.68 | 114.46 | 1128.90 | 5780.06 | 1279.12 | 9.50 | 9.38 |
| NELCAST | 110.10 | 23.33 | 957.88 | 0.64 | 5.14 | -58.92 | 341.05 | 2.77 | 11.46 | 4.62 |
| SGIL | 598.00 | 199.61 | 929.47 | 0.00 | -10.11 | — | 75.15 | -22.90 | 9.07 | 6.30 |
| SIMPLEXCAS | 106.10 | 35.05 | 429.20 | 0.00 | 0.80 | 102.97 | 195.62 | -5.47 | 24.10 | 18.14 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 293 | 358 | 320 | 295 | 300 | 330 | 291 | 330 | 332 | 299 | 330 | 368 | 341 | |
| 273 | 327 | 295 | 280 | 280 | 309 | 274 | 300 | 304 | 282 | 296 | 336 | 339 | |
| Operating Profit | 19 | 32 | 26 | 16 | 20 | 21 | 17 | 30 | 28 | 17 | 33 | 32 | 2 |
| OPM % | 6.60% | 8.87% | 7.99% | 5.27% | 6.73% | 6.47% | 5.93% | 9.00% | 8.51% | 5.72% | 10.10% | 8.66% | 0.69% |
| 4 | 4 | 20 | 4 | 4 | 6 | 6 | 5 | 4 | 4 | 3 | 3 | 4 | |
| Interest | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 8 | 8 | 7 | 7 |
| Depreciation | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 6 | 7 | 7 | 7 | 7 |
| Profit before Tax | 9 | 22 | 31 | 6 | 10 | 13 | 8 | 18 | 17 | 6 | 21 | 21 | 7 |
| Tax % | 22.04% | 25.45% | 18.09% | 14.36% | 21.91% | 23.95% | 25.56% | 25.56% | 24.64% | 25.16% | 25.53% | 25.98% | 23.21% |
| Net Profit | 0 | 0 | 0 | 0 | 8 | 10 | 6 | 14 | 13 | 5 | 16 | 15 | 5 |
| 0.82 | 1.91 | 2.93 | 0.58 | 0.91 | 1.13 | 0.69 | 1.56 | 1.44 | 0.55 | 1.83 | 1.76 | 0.59 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 575 | 745 | 856 | 567 | 615 | 927 | 1,264 | 1,267 | 1,252 | 1,328 | 1,338 | |
| 511 | 674 | 781 | 518 | 569 | 869 | 1,185 | 1,175 | 1,163 | 1,218 | 1,253 | |
| Operating Profit | 64 | 71 | 75 | 48 | 46 | 58 | 79 | 92 | 89 | 110 | 85 |
| OPM % | 11.14% | 9.52% | 8.82% | 8.52% | 7.54% | 6.26% | 6.28% | 7.28% | 7.07% | 8.32% | 6.33% |
| 7 | 7 | 9 | 14 | 5 | 9 | 16 | 32 | 21 | 14 | 14 | |
| Interest | 9 | 6 | 9 | 13 | 17 | 26 | 31 | 32 | 35 | 33 | 30 |
| Depreciation | 13 | 16 | 17 | 19 | 22 | 23 | 24 | 24 | 25 | 27 | 27 |
| Profit before Tax | 49 | 56 | 57 | 31 | 12 | 19 | 40 | 69 | 49 | 65 | 55 |
| Tax % | 30.65% | 32.89% | 33.39% | -16.87% | 26.42% | 25.33% | 26.25% | 20.70% | 24.36% | 25.42% | 25.37% |
| Net Profit | 34 | 38 | 38 | 36 | 9 | 14 | 30 | 54 | 37 | 48 | 41 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 1.04 | 1.64 | 3.42 | 6.24 | 4.27 | 5.53 | — |
| Dividend Payout % | 23.04% | 23.02% | 22.78% | 0.00% | 19.24% | 19.59% | 11.86% | 6.41% | 11.70% | 12.66% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 17%
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 4%
- 5 Years:
- 37%
- 3 Years:
- 18%
STOCK PRICE CAGR
- 10 Years:
- 6%
- 5 Years:
- 3%
- 3 Years:
- -6%
- 1 Year:
- -26%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 7%
- 3 Years:
- 9%
- Last Year:
- 8%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Minority Interest | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| 322 | 350 | 378 | 403 | 413 | 424 | 451 | 502 | 535 | 579 | |
| 73 | 98 | 168 | 212 | 181 | 250 | 270 | 297 | 255 | 225 | |
| Trade Payables | 69 | 94 | 106 | 81 | 128 | 181 | 183 | 217 | 248 | 266 |
| 63 | 77 | 109 | 63 | 98 | 88 | 105 | 96 | 105 | 108 | |
| Total Liabilities | 546 | 639 | 782 | 779 | 840 | 963 | 1,028 | 1,132 | 1,164 | 1,199 |
| 271 | 264 | 318 | 304 | 455 | 467 | 459 | 446 | 512 | 503 | |
| Capital Work in Progress | 12 | 48 | 103 | 166 | 14 | 13 | 13 | 56 | 2 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 | 11 | 13 | 23 | 24 | |
| 94 | 111 | 142 | 128 | 118 | 159 | 158 | 190 | 180 | 191 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 301 | 340 | 356 | |
| Cash & Bank | 54 | 56 | 59 | 48 | 65 | 61 | 105 | 85 | 78 | 85 |
| 115 | 160 | 160 | 133 | 187 | 262 | 282 | 41 | 29 | 40 | |
| Total Assets | 546 | 639 | 782 | 779 | 840 | 963 | 1,028 | 1,132 | 1,164 | 1,199 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 41 | 51 | 88 | 40 | 83 | -12 | 86 | 20 | 105 | 92 | |
| Cash from Investing | -10 | -44 | -125 | -63 | -18 | -32 | -23 | -31 | -38 | -11 |
| Cash from Financing | -17 | 19 | 44 | 27 | -51 | 2 | -71 | -39 | -61 | -76 |
| 1 | 8 | -7 | -4 | 14 | -42 | -13 | -49 | 5 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-04 - Nelcast Limited has informed the Exchange about Schedule of meet
2026-07-30 - Nelcast Limited has informed the Exchange about Transcript
2026-07-28 - Nelcast Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 27, 2026. Further, the company has informed the Exchange regarding voting results.
2026-07-28 - Nelcast Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-28 - Nelcast Limited has informed the Exchange about Link of Recording
2026-07-27 - Nelcast Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 27, 2026
2026-07-27 - Nelcast Limited has informed the Exchange about Investor Presentation
2026-07-27 - Nelcast Limited has informed the Exchange regarding a press release dated July 27, 2026, titled "Press Release".
2026-07-27 - Nelcast Limited has informed the Exchange regarding ''Reconstitution of Committees'.'.
News
Recent coverage and analyst commentary for NELCAST
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Nelcast Ltd.
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