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Nelcast Credit Rating Outlook Upgraded to Positive by ICRA; Long-term Rating Reaffirmed at [ICRA]A
ICRA has reaffirmed Nelcast Limited's long-term credit rating at [ICRA]A and short-term rating at [ICRA]A1. Significantly, the outlook for the long-term ratings has been revised from 'Stable' to 'Positive', signaling a potential upgrade in the near term. The total rated amount is maintained at Rs. 600.00 crore, although the composition of fund-based limits has been adjusted to Rs. 315.00 crore. This positive outlook reflects the company's strengthening financial position and operational stability.
Key Highlights
ICRA revised the outlook to Positive from Stable for long-term ratings on Rs. 175.67 crore loans.
Long-term fund-based limits of Rs. 315.00 crore reaffirmed at [ICRA]A with a positive outlook.
Short-term ratings for fund-based and non-fund-based limits reaffirmed at the highest [ICRA]A1 level.
Total credit facilities reviewed by the agency amount to Rs. 600.00 crore.
💼 Action for Investors
The revision to a positive outlook is a bullish signal regarding the company's debt-servicing capabilities and financial health. Investors should maintain a positive stance as this could lead to lower interest expenses and improved capital access.
Nelcast Q3 FY26 PAT Surges 166% YoY to ₹15.9 Cr; EBITDA/kg Rises to ₹15.9
Nelcast reported a strong Q3 FY26 with a 166.1% YoY increase in PAT to ₹15.9 Cr, driven by robust domestic demand and cost optimization. Revenue grew 11.8% YoY to ₹332.2 Cr, while EBITDA margins improved significantly to 10.8% from 7.7% in the previous year. The company's operational efficiency is highlighted by a 35% rise in EBITDA per kg to ₹15.9. While exports saw a slight YoY dip to ₹85.9 Cr, management expects a gradual recovery in Q4 supported by stabilizing global schedules and U.S. tariff relief.
Key Highlights
Q3 FY26 PAT grew by 166.1% YoY to ₹15.9 Cr compared to ₹6.0 Cr in Q3 FY25
Revenue for the quarter increased 11.8% YoY to ₹332.2 Cr, supported by robust domestic tractor and CV demand
EBITDA per kg improved significantly to ₹15.9 from ₹11.8 in the year-ago period
9M FY26 revenue reached ₹971.2 Cr with a PAT of ₹33.2 Cr, up 39.6% YoY
The company maintains a strong installed capacity of 160,000 MT/Year with a focus on high-value-add products
💼 Action for Investors
Investors should monitor the recovery in export volumes and the sustainability of the improved EBITDA/kg. The strong domestic demand in tractors and CVs provides a solid floor for earnings growth.
Nelcast Q3FY26 PAT Surges 166% YoY to Rs 15.9 Cr; EBITDA Margins Expand 308 bps
Nelcast reported a robust Q3FY26 performance with Profit After Tax (PAT) jumping 166.1% YoY to Rs 15.9 crore. Revenue grew by 11.8% YoY to Rs 332.2 crore, driven by strong domestic demand in the M&HCV and tractor segments. Operational efficiency significantly improved, with EBITDA per kg rising 35% to Rs 15.9 and EBITDA margins expanding to 10.8%. The company is also seeing early signs of export stabilization and plans to commercialize a high-value product pipeline from its Pedapariya facility in FY27.
Key Highlights
Net Profit (PAT) surged 166.1% YoY to Rs 15.9 crore in Q3FY26.
EBITDA grew 56.5% YoY to Rs 35.9 crore, with margins expanding by 308 bps to 10.8%.
EBITDA per kg reached a multi-quarter high of Rs 15.9, up from Rs 11.8 in the previous year.
Total Revenue for the quarter increased 11.8% YoY to Rs 332.2 crore.
Management highlighted a strong new-product pipeline from the Pedapariya facility with commercialization planned for FY27.
💼 Action for Investors
Investors should note the significant operational turnaround and margin expansion, which suggests improved pricing power and cost control. The positive outlook for domestic CV demand and upcoming high-value product launches make this a strong candidate for a 'Buy' or 'Hold' rating.
Nelcast Q3 FY26 Net Profit Surges 166% YoY to ₹15.90 Cr; Revenue Up 13%
Nelcast Limited reported a robust performance for the quarter ended December 31, 2025, with consolidated revenue growing 13.1% YoY to ₹329.62 crore. The net profit witnessed a massive jump of 166% YoY, reaching ₹15.90 crore compared to ₹5.98 crore in the corresponding quarter of the previous year. On a sequential basis, the profit after tax surged by 234% from ₹4.76 crore in Q2 FY26. This significant bottom-line growth was driven by improved operational efficiencies as total expenses grew at a slower pace than revenue.
Key Highlights
Revenue from operations increased 13.1% YoY to ₹329.62 crore from ₹291.41 crore.
Net Profit (PAT) skyrocketed by 166% YoY to ₹15.90 crore.
Profit Before Tax (PBT) rose substantially to ₹21.35 crore from ₹8.02 crore in Q3 FY25.
Earnings Per Share (EPS) improved to ₹1.83 from ₹0.69 in the year-ago period.
Nine-month PAT for FY26 stands at ₹33.16 crore, up from ₹23.75 crore in the previous year.
💼 Action for Investors
The stock is expected to see positive momentum following the sharp increase in profitability and sequential margin expansion. Long-term investors should hold and monitor the sustainability of these improved margins in future quarters.