FOSECOIND - Foseco India
📢 Recent Corporate Announcements
Foseco India Limited has appointed Joshi Apte & Associates as its Cost Auditor for the 2026 calendar year. The appointment, approved on February 25, 2026, is effective from January 1, 2026, through December 31, 2026. Joshi Apte & Associates is a firm with over 16 years of experience and a presence in 26 industry segments. This move is part of the company's regular regulatory compliance under SEBI guidelines.
- Appointment of Joshi Apte & Associates as Cost Auditor for the 2026 fiscal year.
- The audit firm possesses over 16 years of professional experience.
- The firm caters to a diverse client base across 26 industry segments in India.
- Appointment is effective for a one-year term starting January 1, 2026.
Foseco India has announced the re-appointment of Mr. Prasad Chavare as Managing Director and CEO for a second five-year term, effective from June 1, 2026, to May 31, 2031. Additionally, the board has appointed Mr. Henry James Knowles, General Counsel of the parent company Vesuvius plc, as a Non-Executive Director effective February 26, 2026. These leadership moves ensure management continuity and strengthen the strategic alignment with the global holding company. The long-term extension for the CEO indicates board confidence in the current leadership's execution and strategy.
- Mr. Prasad Chavare re-appointed as MD & CEO for a 5-year term starting June 1, 2026.
- Mr. Henry James Knowles appointed as Non-Executive Non-Independent Director effective Feb 26, 2026.
- Mr. Knowles brings over 30 years of experience as a corporate lawyer and is a nominee of the holding company.
- The CEO re-appointment is subject to shareholder approval as per regulatory requirements.
- Leadership continuity is maintained as the current CEO's term was set to expire on May 31, 2026.
Foseco India's Board of Directors has recommended a final dividend of Rs 25 per equity share for the financial year ended December 31, 2025. This represents a 250% payout on the face value of Rs 10 per share. The recommendation is subject to shareholder approval at the upcoming Annual General Meeting. Additionally, the company approved its audited financial results for the quarter and year ended December 2025 with an unmodified audit opinion.
- Recommended a final dividend of Rs 25 per equity share for the financial year ended December 31, 2025.
- The dividend payout represents 250% of the paid-up equity share capital of face value Rs 10.
- Audited financial results for the quarter and year ended December 31, 2025, were approved with an unmodified opinion.
- The dividend is subject to the approval of members at the next Annual General Meeting.
Foseco India Limited has approved its audited financial results for the fiscal year ending December 31, 2025. A key highlight for shareholders is the recommendation of a final dividend of Rs. 25 per equity share, which represents a 250% payout on the face value of Rs. 10. The company's statutory auditors have issued an unmodified opinion on the financial statements, indicating transparent and reliable reporting. This announcement reflects the company's strong cash position and commitment to rewarding its investors.
- Recommended a final dividend of Rs. 25 per equity share (250% of face value) for FY2025.
- Audited standalone and consolidated financial results for the year ended December 31, 2025, approved.
- Statutory auditors Price Waterhouse Chartered Accountants LLP issued an unmodified audit opinion.
- The dividend is subject to approval by members at the upcoming Annual General Meeting.
Foseco India Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar MUFG Intime India Private Limited, covers the quarter ended December 31, 2025. It confirms that all share dematerialization requests were processed, and physical certificates were mutilated and cancelled as per regulatory timelines. This is a standard administrative filing that ensures the company's share registry is accurately maintained.
- Compliance certificate submitted for the quarter ended December 31, 2025
- Confirmation provided by Registrar and Share Transfer Agent, MUFG Intime India Private Limited
- Verification that dematerialized securities are listed on relevant stock exchanges
- Confirmation of timely mutilation and cancellation of physical security certificates
- Register of members updated with depository names within prescribed timelines
Foseco India Limited has notified the stock exchanges regarding the closure of its trading window for insiders starting January 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the quarter and financial year ending December 31, 2025. The window will remain closed until 48 hours after the audited financial results are officially declared. Investors should note that the company follows a calendar year (January to December) as its financial year.
- Trading window for insiders to close effective January 1, 2026
- Closure is related to the audited financial results for the period ending December 31, 2025
- Window will reopen 48 hours after the results are filed with stock exchanges
- Foseco India operates on a January-December financial year cycle
Financial Performance
Revenue Growth by Segment
The company operates in a single segment, Foundry Chemicals & Fluxes, which contributed 100% of the total revenue of INR 52,478 lakh, representing a growth of 9.9% YoY from INR 47,741 lakh.
Geographic Revenue Split
Domestic operations across 21 states contribute 96.47% of turnover, while exports to 12 countries contribute 3.53% of total revenue.
Profitability Margins
Operating Profit Margin improved to 18.7% in 2024 from 17.4% in 2023 (adjusted for one-offs). Net Profit Margin stood at 13.9% in 2024 compared to 15.3% in 2023, impacted by the absence of exceptional gains from land sales.
EBITDA Margin
PBIT margin was 18.7% in 2024, a slight decrease from 19.9% in 2023 due to higher operating expenses which grew 7% to INR 44,468 lakh.
Capital Expenditure
The company invested in manufacturing facility upgrades through revenue expense and capex; however, specific planned INR values for future years are not disclosed.
Credit Rating & Borrowing
The company maintains a Debt-Equity Ratio of 0.00, indicating it is debt-free with no reported borrowing costs.
Operational Drivers
Raw Materials
Specific raw materials include chemicals for water-based and solvent-based coatings and fluxes, which are critical for the 100% revenue-contributing Foundry Chemicals segment.
Import Sources
Raw materials are sourced domestically and imported from global group manufacturing locations in various parts of the world.
Capacity Expansion
The company operates 2 national plants in Sanaswadi (Pune) and Puducherry; specific MTPA capacity or planned expansion units are not disclosed.
Raw Material Costs
Raw material landscape remains challenging with occasional price volatility; the company manages this through strategic pricing and a value-driven approach to maintain margins.
Manufacturing Efficiency
Efficiency is driven by a cellular manufacturing structure and Lean philosophy (Kaizen Factory) to standardize processes and reduce waste.
Logistics & Distribution
The company strengthened its distribution network to serve a broader spectrum of foundries, including a successful initiative to cater to smaller foundries.
Strategic Growth
Expected Growth Rate
9.90%
Growth Strategy
Growth will be achieved through the acquisition of a 75% stake in Morganite Crucible (India) Limited (completed Nov 2025), expansion of the product portfolio (e.g., INSTA Coatings), and deepening market penetration into smaller foundries.
Products & Services
Foundry consumables, chemicals, fluxes, and specialized solutions like INSTA water-based and solvent-based coatings for ferrous and non-ferrous castings.
Brand Portfolio
FOSECO
New Products/Services
INSTA Coatings launched in 2024 offer up to a 30% reduction in costs for customers, expected to drive volume growth in the ferrous casting segment.
Market Expansion
Targeting smaller foundries with specialized products and expanding technical service infrastructure to increase customer satisfaction and retention.
Market Share & Ranking
The company is the market leader in most of its focused product lines within the Indian foundry sector.
Strategic Alliances
Acquired 75% of Morganite Crucible (India) Limited from its promoters on November 12, 2025, making it a subsidiary.
External Factors
Industry Trends
The Indian foundry market is evolving toward green practices, automation, and precision solutions driven by tighter environmental regulations and OEM demands.
Competitive Landscape
Foseco competes as a technology leader; smaller foundries face high costs to upgrade, potentially limiting their competitiveness against Foseco's advanced solutions.
Competitive Moat
Moat is built on a 60-year legacy, proprietary technology formulations, and a solutions-partnering approach that makes FOSECO products indispensable to foundries.
Macro Economic Sensitivity
Sensitive to global manufacturing slowdowns in Europe and Asia and inflationary pressures which prompt tighter monetary policies.
Consumer Behavior
OEMs are demanding tighter specifications and environmentally compliant solutions, driving foundries to adopt Foseco’s high-tech consumables.
Geopolitical Risks
Geopolitical tensions impact supply chains; the company mitigates this by leveraging its global group network for alternate sourcing.
Regulatory & Governance
Industry Regulations
Operations are governed by environmental regulations and tighter OEM specifications which drive the adoption of green foundry practices.
Environmental Compliance
Accredited to ISO 14001:2015; the company has launched a sustainability drive with targets to reduce CO2, energy, and solid waste.
Taxation Policy Impact
Total tax expense for 2024 was INR 2,530 lakh, representing an effective tax rate of approximately 25.7% on PBT of INR 9,833 lakh.
Legal Contingencies
There are no audit qualifications in the financial statements; specific pending court case values are not disclosed.
Risk Analysis
Key Uncertainties
Raw material price volatility and supply disruptions due to geopolitical factors pose risks to margin stability and operational continuity.
Geographic Concentration Risk
High concentration in India (96.47% of revenue), though it serves 21 states and exports to 12 countries.
Technology Obsolescence Risk
Risk is mitigated by continuous R&D and the adoption of Indian Accounting Standards (Ind-AS) and ISO-certified management systems.
Credit & Counterparty Risk
Debtors Turnover Ratio of 4.71 indicates healthy receivables management, though it slightly decreased from 5.11 in the previous year.