Alicon Castalloy Limited (ALICON)
₹854.65 -1.06% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Alicon Castalloy's revenue was ₹578 Cr (+38.3% year on year, +16.8% on the previous quarter), and net profit ₹11.4 Cr (+22.9% year on year); the operating margin was 9.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹578 | +38.3% | +16.8% |
| Operating profit | ₹54.2 | +10.5% | +18.7% |
| Net profit | ₹11.4 | +22.9% | +44.2% |
| EPS (₹) | 7.02 | +23.2% | +44.4% |
| Operating margin | 9.4% | — | — |
ALICON delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 52.82% of the ALICON shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.96%. That is close to its usual level. Turnover was only ₹79 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average. It closed at a price band (circuit) on 1 session in about the last 20. 1 bulk or block deal was reported in ALICON in the last 60 days: ₹12 Cr sold, none bought.
Delivery in the last 5 sessions: 46.1% · 41.5% · 50.3% · 75.1% · 52.8%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 1 Oct | Sell | Rajeev Sikand | ₹11.70 Cr | ₹863.45 | 135,546 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Alicon Castalloy Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by Registrar and Transfer Agent MUFG Intime India Private Limited on October 3, 2026, confirms that securities received for dematerialisation were duly processed, confirmed/rejected, and listed on the exchanges. This is a recurring administrative filing with zero operational or financial impact on the business.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- Certificate issued by RTA MUFG Intime India Private Limited dated October 3, 2026
- Filing submitted to BSE and NSE on October 6, 2026
Alicon Castalloy Limited completed its 36th Annual General Meeting on September 28, 2026, with 45 shareholders present via video conference. The company placed four resolutions before members, including the adoption of FY26 audited accounts and the declaration of a final dividend of ₹3 per equity share (face value ₹5). Additional resolutions included the reappointment of Director Jitendra Panjabi and the appointment of Anantakrishnan Krishna as Non-Executive Independent Director. Final e-voting results and the Scrutinizer's Report will be submitted separately.
- 36th Annual General Meeting concluded on September 28, 2026, at 12:40 p.m.
- Proposed final dividend of ₹3 per equity share of face value ₹5 each for FY26
- Total of 45 shareholders were present at the meeting
- Considered appointment of Anantakrishnan Krishna as Non-Executive Independent Director
In its Q1 earnings call transcript, Alicon Castalloy highlighted a 37.7% YoY consolidated revenue growth (17.5% volume growth net of material inflation). The company announced a Rs 125 crore capex over the next two years at a 1.36 lakh sq. ft. leased Shikrapur facility, targeted to generate Rs 500 crore in peak annual revenue over 4-5 years. Alicon secured Rs 850 crore in 5-year order visibility across two newly onboarded major Indian PV and CV OEMs, plus >Rs 450 crore in other multi-year business wins. Management noted near-term margin pressure from elevated metal, gas, and tooling costs, alongside temporary drag in European operations due to product cycle phase-outs.
- Consolidated revenue grew 37.7% YoY (standalone 43.6%), with underlying volume growth of 17.5% after adjusting for material inflation.
- Committed Rs 125 crore capex over 2 years at leased Shikrapur plant, projected to generate ~Rs 500 crore annual revenue in 4-5 years.
- Gained entry into two large Indian PV and CV OEMs with ~Rs 850 crore order visibility over the next 5 years.
- Acquired new automotive and non-automotive businesses with potential to generate >Rs 450 crore revenue over 5 years.
- Elevated input costs (metals, gas, tooling) from geopolitical tensions impacted Q1 profitability margins.
Alicon Castalloy Limited has fixed September 21, 2026, as the record date to determine shareholder eligibility for a final dividend of Rs 3 per equity share (face value Rs 5 each) for FY26. The dividend was recommended by the Board of Directors at its meeting held on August 13, 2026. Against the current share price of Rs 732.1, the dividend translates to a yield of approximately 0.41% on an FY26 EPS of Rs 21.08.
- Final dividend recommended at Rs 3 per equity share (face value Rs 5 each) for FY26.
- Record date determined as September 21, 2026, for dividend entitlement.
- Dividend recommended by the Board of Directors on August 13, 2026.
- Proposed dividend represents a ~0.41% yield on the current market price of Rs 732.1.
Alicon Castalloy has published the audio recording of its Q1 FY27 earnings conference call held on August 14, 2026. This follows the release of its unaudited financial results for the quarter ended June 30, 2026, where the company reported a revenue of ₹578.01 Cr and a net profit of ₹11.45 Cr. The call provides management's perspective on the 16.8% sequential revenue growth compared to the March 2026 quarter (₹494.93 Cr). Investors can use this recording to gauge the progress of the company's pivot toward high-margin components and the new DAR (Defense, Aerospace, and Railways) vertical.
- Audio recording link provided for the analyst conference call held on August 14, 2026.
- Q1 FY27 revenue stood at ₹578.01 Cr, representing approximately 30% of the TTM revenue of ₹1,931 Cr.
- Net profit for the quarter ended June 30, 2026, was reported at ₹11.45 Cr.
- Company maintains a strong new order book of ₹257 Cr over a 5-year horizon as per recent strategic updates.
CRISIL Ratings has reaffirmed Alicon Castalloy's long-term rating at 'CRISIL A' and short-term rating at 'CRISIL A1' for its Rs 300 crore bank facilities. Notably, the outlook on the long-term rating has been revised from 'Positive' to 'Stable', indicating a moderation in the expectation of immediate credit profile improvement. The rated facilities cover approximately 93.5% of the company's total debt of Rs 321 crore. This rating action comes as the company navigates a transition toward high-margin PV and CV components amidst a decline in FY26 PAT to Rs 34.4 crore from Rs 44.2 crore in FY25.
- Total bank loan facilities rated by CRISIL at Rs 300 Crore.
- Long-term rating reaffirmed at CRISIL A, but outlook revised from Positive to Stable.
- Short-term rating reaffirmed at CRISIL A1 for non-fund based facilities.
- Rated facilities include Rs 215 Crore in Cash Credit and Rs 74.3 Crore in Term Loans.
- Rated debt represents ~93.5% of the company's total debt of Rs 321 Crore.
Alicon Castalloy achieved its highest-ever quarterly revenue of ₹579.1 Cr in Q1 FY27, a 37% YoY increase driven by robust domestic automotive demand. While PAT grew 23% YoY to ₹11.5 Cr, EBITDA margins contracted to 9.5% from 12.1% due to higher aluminum prices and sales mix changes. The company maintains a massive 6-year order book of ₹8,094 Cr, approximately 4.5x its TTM revenue. Management also announced a new manufacturing facility in Shikrapur, Pune, to support future growth and value-added products.
- Total Income reached a record ₹579.1 Cr, representing 32.7% of the total TTM revenue in just one quarter.
- Order book stands at ₹8,094 Cr for the next 6 years, providing high revenue visibility relative to the ₹1,211 Cr market cap.
- Secured 8 new parts from 5 customers across 2W, CV, PV, and Non-Auto segments during Q1 FY27.
- Manufacturing facilities operated at a healthy utilization level of approximately 80%.
- Finance costs decreased by 7% YoY to ₹10.20 Cr, aiding a 45% YoY growth in Profit Before Tax (PBT).
Alicon Castalloy achieved a significant milestone in Q1 FY27, crossing the Rs 500 Cr quarterly revenue mark for the first time with a total income of Rs 579.1 Cr (up 37% YoY). Profit After Tax (PAT) grew 44% sequentially to Rs 11.4 Cr, recovering from a lower base in Q4 FY26. While revenue growth was robust, EBITDA growth lagged at 8% YoY, reflecting margin pressure from rising aluminum prices and product mix shifts. The company also announced a new manufacturing facility near Pune to support its growing order book in the EV and structural parts segments.
- Total Income reached a record Rs 579.1 Cr, a 37% increase over Q1 FY26 (Rs 421.2 Cr).
- Profit After Tax (PAT) stood at Rs 11.4 Cr, representing a 44% sequential growth from Q4 FY26.
- EBITDA grew 20% QoQ to Rs 55.3 Cr, though YoY growth was more modest at 8%.
- PBT (pre-exceptional) rose 84% QoQ to Rs 18.3 Cr, aided by strong domestic automotive momentum.
- Announced establishment of a new manufacturing facility at Shikrapur, Pune, to expand capacity for value-added products.
Alicon Castalloy's board has recommended a final dividend of Rs 3 per share for FY26, bringing the total annual dividend to Rs 5 (100% of face value). The company also announced a key leadership transition in its Audit Committee, appointing Mr. Anantakrishnan Krishna, a veteran with 40 years of experience at Bosch and HAL, to replace the outgoing Mr. Ajay Patil. The board also approved the unaudited Q1 FY27 financial results during the meeting held on August 13, 2026. The book closure for dividend entitlement is set for September 22-28, 2026.
- Recommended a final dividend of Rs 3 per share (60% of face value) for FY26.
- Total dividend for FY26 reaches Rs 5 per share, including the Rs 2 interim dividend.
- Appointment of Mr. Anantakrishnan Krishna as Additional Independent Director and Audit Committee Chairman.
- New appointee brings 40 years of experience, including 26 years at Bosch and 14 years at HAL.
- Resignation of Mr. Ajay Patil as Director and Audit Committee Chairman effective August 13, 2026.
Alicon Castalloy has recommended a final dividend of ₹3 per share for FY26, bringing the total dividend for the year to ₹5 per share (100% of face value). The company also announced a significant board transition, appointing Mr. Anantakrishnan Krishna, a former CFO of Bosch with 40 years of experience, as an Independent Director and Chairman of the Audit Committee. This follows the resignation of Mr. Ajay Patil. The board also approved the unaudited financial results for the quarter ended June 30, 2026.
- Recommended a final dividend of ₹3 per equity share (60% of face value) for FY 2025-26.
- Total dividend for FY 2025-26 stands at ₹5 per share (100%) including the ₹2 interim dividend.
- Appointed Mr. Anantakrishnan Krishna, who has 26 years of experience at Bosch and 14 years at HAL, as Audit Committee Chairman.
- Book closure for dividend entitlement set from September 22, 2026, to September 28, 2026.
- Mr. Ajay Patil resigned as Director and Audit Committee Chairman effective August 13, 2026.
Alicon Castalloy has recommended a final dividend of ₹3 per equity share (60% of face value) for FY2025-26. Combined with the earlier interim dividend of ₹2, the total dividend for the year stands at ₹5 per share, representing a payout of approximately 23.7% of TTM EPS. The company also announced a key board transition, appointing Mr. Anantakrishnan Krishna (ex-Bosch, 26 years) as an Independent Director and Audit Committee Chairman, following the resignation of Mr. Ajay Patil. The book closure for dividend entitlement is scheduled from September 22 to September 28, 2026.
- Recommended final dividend of ₹3 per equity share of ₹5 face value (60%)
- Total FY26 dividend reaches ₹5 per share (100%) including ₹2 interim dividend
- Book closure period fixed from September 22, 2026, to September 28, 2026
- Appointment of Mr. Anantakrishnan Krishna, a veteran with 26 years of experience at Bosch, as Independent Director
- Resignation of Mr. Ajay Patil from the Board and Audit Committee chairmanship effective August 13, 2026
Alicon Castalloy has recommended a final dividend of Rs 3 per share for FY26, bringing the total annual dividend to Rs 5 (100% of face value). The board approved Q1 FY27 results and appointed Mr. Anantakrishnan Krishna, a former Bosch CFO and Board Member with 40 years of experience, as an Independent Director and Audit Committee Chairman. This follows the resignation of Mr. Ajay Patil from the same roles. The book closure for the dividend is scheduled for September 22 to September 28, 2026.
- Final dividend of Rs 3 per share recommended for FY26, totaling Rs 5 for the full year.
- Total dividend payout represents 100% of the Rs 5 equity share face value.
- Appointment of Mr. Anantakrishnan Krishna, bringing 26 years of Bosch and 14 years of HAL experience to the board.
- Book closure period for dividend entitlement set from September 22 to September 28, 2026.
- Resignation of Audit Committee Chairman Mr. Ajay Patil effective August 13, 2026.
Alicon Castalloy has scheduled its Q1 FY2027 earnings conference call for August 14, 2026, at 11:00 AM IST. The management, including the Group CEO and CFO, will discuss financial performance for the quarter ended June 30, 2026. This follows a TTM revenue of ₹1,771 Cr and a recent Q4 FY26 revenue of ₹494.93 Cr. Investors will likely seek updates on the ₹257 Cr five-year order book and the ramp-up of the Defense, Aerospace, and Railways (DAR) vertical.
- Earnings conference call scheduled for August 14, 2026, at 11:00 am IST
- Management representation includes Group CEO Sumit Bhatnagar and Group CFO Vimal Gupta
- Discussion will focus on the financial results for the quarter ended June 30, 2026
- Company reported a TTM revenue of ₹1,771 Cr and TTM PAT of ₹34 Cr
- Contextual order book of ₹257 Cr over 5 years remains a key focus area for growth
Alicon Castalloy has announced a capital outlay of Rs 125.5 Cr to establish a new manufacturing facility for Gravity Die Castings (GDC), Low Pressure Die Casting (LPDC), and Machining. The company has secured a 10-year lease for a 1,30,000 sq. ft. ready-built facility in Shikrapur, Pune, near its existing operations. This investment represents approximately 11.3% of the company's current market capitalization and 7.1% of its TTM revenue. The project will be funded through a mix of bank debt and internal accruals to support the company's growth in high-margin segments.
- Capital outlay of Rs 125.5 Cr (Rs 1,255 million) for new manufacturing facilities
- Acquisition of 1,30,000 sq. feet of ready-built industrial premises on a 10-year lease
- Investment represents ~22% of the company's current Net Worth of Rs 572 Cr
- Facility will focus on GDC, LPDC, and Machining to enhance overall manufacturing capacity
- Funding to be sourced through a combination of bank borrowings and internal accruals
Alicon Castalloy Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by MUFG Intime India Private Limited, confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and the underlying securities listed on the exchanges. This filing is a standard procedural requirement to verify the cancellation of physical certificates and the update of the company's electronic share records.
- Quarterly compliance completed for the period ending 30th June, 2026
- Registrar MUFG Intime India Private Limited confirmed all demat requests were handled
- Physical certificates were mutilated and cancelled as per SEBI norms
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 10% YoY to INR 1,724 Cr in FY25. The Passenger Vehicle (PV) segment witnessed 16% YoY growth in Q2 FY26, while the Commercial Vehicle (CV) segment's revenue share declined from 15% to 10% due to a 25-26% volume dip in the US market.
Geographic Revenue Split
Exports contributed approximately 22% of total revenue as of FY23. Domestic operations remain the primary driver, though international operations were impacted by a 5-week production pause at a UK-based OEM due to a cyber-attack.
Profitability Margins
Gross margin improved to 48.9% in Q2 FY26, up 133 bps YoY. Operating Profit Margin stood at 11.48% for FY25, a decrease from 12.74% in FY24. Net Profit Margin declined to 3.61% in FY25 from 5.19% in FY24.
EBITDA Margin
EBITDA margin was 11.48% in FY25 (INR 198 Cr), down 1% YoY. However, it recovered to 12.9% in Q2 FY26 (INR 55 Cr), an 11% sequential improvement driven by cost optimization and a better product mix.
Capital Expenditure
The company maintains an elevated capex cycle to support new technology platforms and the DAR vertical, funded through a mix of internal accruals and debt. Specific INR Cr figures for future years are not disclosed, but annual cash accruals of INR 150-190 Cr are expected to cover obligations.
Credit Rating & Borrowing
CRISIL has assigned a 'Positive' outlook with a healthy financial risk profile. Interest coverage ratio stood at 4.45 times in FY25, down from 4.89 times in FY24. Debt/EBITDA is maintained at 1.78 times.
Operational Drivers
Raw Materials
Aluminum (primary component for light alloy castings) represents the bulk of raw material costs. Specific percentage of total cost is not disclosed.
Capacity Expansion
Alicon is expanding capabilities for emerging technology platforms and the new Defense, Aerospace, and Railways (DAR) vertical. Current MTPA capacity is not specified, but the company is shifting toward higher-value structural and EV components.
Raw Material Costs
Raw material costs are managed through price revisions with customers and value engineering. Gross margins reached 48.9% in Q2 FY26, indicating effective pass-through of costs and operational efficiencies.
Manufacturing Efficiency
Focus on 'robotization' and 'AI' to improve foundry levels. Capacity utilization is not explicitly stated but is ramping up for new PV and 2-wheeler programs.
Strategic Growth
Expected Growth Rate
9-14%
Growth Strategy
Growth will be driven by a pivot to high-margin PV and CV components (now 60% of sales), the ramp-up of the DAR vertical, and a strong new order book of INR 257 Cr over 5 years. The company is also leveraging the shift to E-mobility by scaling production of motor housings.
Products & Services
Light alloy casting solutions, cylinder heads, motor housings for EVs, structural parts for vehicles, and components for Defense, Aerospace, and Railways.
Brand Portfolio
Alicon Castalloy.
New Products/Services
New structural parts and DAR vertical components. Seven new parts from six customers were won in Q2 FY26, expected to contribute significantly over the next 5 years.
Market Expansion
Expansion into the US and European markets for CV and PV segments, alongside domestic growth in the 2-wheeler and non-auto sectors.
Market Share & Ranking
Leading supplier of light alloy casting solutions in India; specific market share percentage not disclosed.
Strategic Alliances
Partnerships with global OEMs and Tier 1 enterprises; specific JV partner names for the DAR vertical are not disclosed.
External Factors
Industry Trends
The industry is shifting toward E-mobility and lightweighting. Alicon is positioning itself as a solutions partner rather than a component supplier to capture value in the EV transition.
Competitive Landscape
Competes with domestic and international alloy casters; benefits from 'Make in India' and PLI schemes which reduce international competitive pressure.
Competitive Moat
50 years of industry experience, single-source provider status for key OEMs, and in-house R&D capabilities create high switching costs and technological barriers.
Macro Economic Sensitivity
Highly sensitive to global automotive cycles and domestic GST rationalization, which impacts demand for 2-wheelers and PVs.
Consumer Behavior
Shift toward electric vehicles and premium passenger vehicles is increasing demand for Alicon’s specialized aluminum castings.
Geopolitical Risks
Geopolitical tensions and international trade barriers impact export volumes, particularly in the US and European regions.
Regulatory & Governance
Industry Regulations
Compliance with BS-VI emission norms, PLI scheme requirements, and international automotive safety standards.
Environmental Compliance
Focus on carbon-neutral verticals and lightweighting to help OEMs meet emission norms; specific ESG costs not disclosed.
Taxation Policy Impact
Tax expense for FY25 was INR 16.05 Cr (Consolidated) on a PBT of INR 62.11 Cr, implying an effective tax rate of approximately 25.8%.
Risk Analysis
Key Uncertainties
Cyber-security risks at client sites (impacted production by 5 weeks) and demand volatility in the US CV market (25% volume drop).
Geographic Concentration Risk
Significant exposure to the US and Europe for exports, making the company vulnerable to regional economic downturns.
Third Party Dependencies
High dependency on global OEM production schedules; disruptions at a single major client can lead to a 7.8% YoY revenue decline.
Technology Obsolescence Risk
Risk of ICE component obsolescence; mitigated by aggressive expansion into EV motor housings and structural parts.
Credit & Counterparty Risk
Receivables of 106 days indicate high credit exposure to OEMs, though the 'Strong' liquidity rating suggests manageable risk.
