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Nelcast Limited (NELCAST)

₹135.87 +4.42% last close, 16 Oct

📊 NSE: NELCAST 🏢 Castings & Forgings 📢 Latest filing: 05 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 02 Nov 2026 (board meeting)

Nelcast Limited's board meets on 2 Nov 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Nelcast's revenue was ₹341 Cr (+2.8% year on year, -7.4% on the previous quarter), and net profit ₹5.1 Cr (-58.9% year on year); the operating margin was 4.6%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹341	+2.8%	-7.4%
Operating profit	₹15.8	-44.2%	-50.6%
Net profit	₹5.1	-58.9%	-66.4%
EPS (₹)	0.59	-59.0%	-66.5%
Operating margin	4.6%	—	—

Full quarterly financials → Results calendar →

NELCAST delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 23.22% of the NELCAST shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.01%. The price rose 4.42% on unusually low delivery, so more of the move than usual was intraday trading. It closed at a price band (circuit) on 1 session in about the last 20.

23.22%Delivery, 16 Oct

48.01%Own 20-session average

1.1×Volume vs its average

₹135.87NSE close · +4.42%

Delivery in the last 5 sessions: 44.3% · 42.6% · 46.4% · 53.9% · 23.2%

Delivery across the market →Circuit stocks →

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

Nelcast Approves ₹75 Cr Investment to Set Up In-House Machining Division at Gudur

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 05 Oct 2026, 05:57 PM

Nelcast's Board has approved the establishment of a dedicated Machining Division in Gudur, Andhra Pradesh, with an estimated capex of approximately ₹75 crore. The proposed capex represents ~12.6% of Nelcast's net worth (₹596 crore) and ~5.6% of its TTM revenue (₹1,338 crore). The project aims to establish integrated in-house machining and assembly capabilities for its iron castings, transitioning from raw castings to higher-margin machined products. Funding will be arranged through a mix of internal accruals and borrowings.

Board approved ₹75.00 crore capex to establish a dedicated Machining Division
Facility to be located at Gudur, Andhra Pradesh
Capex represents ~12.6% of net worth and ~7.1% of market cap
Financed via a combination of internal accruals and borrowings

💡 Track management commentary in upcoming quarterly updates regarding the project commissioning timeline, commercial start date, and incremental debt additions.

Nelcast to Close Trading Window from October 1, 2026 for Q2 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 21 Sep 2026, 04:56 PM

Nelcast Limited has announced the closure of its trading window starting October 1, 2026. The closure applies to designated persons, their immediate relatives, and connected persons pursuant to SEBI (Prohibition of Insider Trading) Regulations. The window will remain shut until 48 hours after the declaration of the financial results for the quarter and half-year ending September 30, 2026. This is a standard regulatory compliance filing ahead of quarterly results.

Trading window closes on 1st October 2026
Closure applies until 48 hours post declaration of Q2 and H1 results
Results pertain to the period ending September 30, 2026
Filing executed under SEBI PIT Regulations, 2015

💡 Track the upcoming board meeting intimation date to know when Q2 FY27 financial results will be formally released.

Nelcast to Attend EMKAY Confluence 2026 Investor Meet on August 12

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Aug 2026, 10:56 AM

Nelcast Limited has announced its participation in the 'EMKAY Confluence 2026 - India: Full Throttle Ahead' investor conference. The in-person meeting is scheduled for August 12, 2026, to interact with institutional investors and analysts. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be discussed. This interaction occurs as the company manages a TTM revenue of ₹1,328 Cr and navigates a 50% US import tariff environment.

In-person investor meeting scheduled for 12th August 2026
Participation in the EMKAY Confluence 2026 conference
Company maintains a high promoter holding of 74.87% as of March 2026
TTM revenue stands at ₹1,328 Cr with an operating profit margin of 8.3%

💡 Investors should watch for any post-event investor presentations or transcripts that may provide updates on the company's strategy to mitigate the 50% US import tariffs and the transition to high-complexity machined castings.

Nelcast Limited Releases Transcript of July 28 Analyst Conference Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Jul 2026, 03:53 PM

Nelcast has uploaded the transcript of its conference call held on July 28, 2026, following its recent financial updates. The company, with a market cap of ₹1009 Cr and TTM revenue of ₹1328 Cr, uses these calls to discuss its transition toward high-complexity machined castings. Key discussion points typically include the impact of 50% US import tariffs and the upcoming TREM V emission norms effective April 2026. This filing is a standard regulatory requirement to ensure equitable information access for all investors.

Conference call conducted on July 28, 2026, at 11:00 PM IST
Transcript officially uploaded to the company website on July 30, 2026
Company maintains an installed capacity of 1,60,000 MTPA across three factories
TTM Revenue stands at ₹1328.40 Cr with an operating margin of 8.32%
Promoter holding remains stable at 74.87% as of March 2026

💡 Investors should review the transcript on the company's website to understand management's guidance on export demand and the impact of the 50% US tariff on margins.

Nelcast Shareholders Approve FY26 Dividend and Director Re-appointments at 44th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Jul 2026, 03:29 PM

Nelcast Limited concluded its 44th Annual General Meeting on July 27, 2026, with shareholders approving all six proposed resolutions with over 99.99% majority. Key outcomes include the adoption of FY26 audited financial statements and the formal declaration of a dividend for the financial year 2025-26. The meeting saw a total turnout of 75.22% of outstanding shares, primarily driven by promoter participation. Additionally, shareholders approved the re-appointment of Mr. A. Balasubramanian and Mr. R. Sridharan to the board, while noting the retirement of Mr. D. Sesha Reddy.

All 6 resolutions passed with a requisite majority, with 'In Favour' votes exceeding 99.99% for all items.
Total votes polled reached 65,441,709, representing 75.22% of the 87,001,200 total shares.
Shareholders officially declared the dividend for FY 2025-26 as proposed by the board.
Mr. D. Sesha Reddy retired from the board by rotation and did not seek re-appointment.
Mr. R. Sridharan was re-appointed as a Non-Executive Independent Director for a second 5-year term.

💡 Investors should monitor the company's upcoming disclosures for the specific dividend payment date and any changes in board committee compositions following the director retirement.

Nelcast Releases Audio Recording of Q1 FY27 Analyst Call Held on July 28, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Jul 2026, 01:01 PM

Nelcast Limited has published the audio recording of its analyst and institutional investor meeting held on July 28, 2026. The call focused on the financial results for the quarter ended June 30, 2026. This disclosure is a routine regulatory requirement under SEBI LODR Regulations. Investors can access the recording to understand management's perspective on the company's TTM revenue of ₹1,328 Cr and its strategy to mitigate the 50% US import tariffs.

Analyst call conducted on July 28, 2026, to discuss Q1 FY27 performance.
Company operates with a total installed capacity of 1,60,000 MTPA across three locations.
TTM revenue stands at ₹1,328 Cr with a current market capitalization of ₹1,010 Cr.
Promoter holding remains stable at 74.87% as of the latest reporting period.
Management is addressing a 50% US tariff increase through price negotiations and product mix shifts.

💡 Investors should listen to the recording for updates on the transition to high-complexity machined castings and the impact of TREM V emission norms on tractor demand.

Nelcast Concludes 44th AGM; Approves FY26 Financials and Dividend Declaration

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Jul 2026, 05:56 PM

Nelcast Limited conducted its 44th Annual General Meeting on July 27, 2026, where shareholders voted on six key resolutions. The meeting included the adoption of audited financial statements for FY26 and the declaration of a dividend for the same period. A management change was noted as Director D. Sesha Reddy retired and did not seek re-appointment. Additionally, R. Sridharan was re-appointed as an Independent Director for a second five-year term, ensuring board continuity.

44th Annual General Meeting held on July 27, 2026, concluding at 4:13 PM
Shareholders approved the adoption of standalone and consolidated financial statements for the year ended March 31, 2026
Director D. Sesha Reddy (DIN: 00520448) retired by rotation and did not seek re-appointment
Re-appointment of R. Sridharan as Independent Director for a second term of 5 consecutive years
Ratification of remuneration for Cost Auditors for the financial year ending March 31, 2027

💡 Investors should monitor the upcoming filing of the scrutinizer's report for the final voting results and the specific dividend payout details.

₹345.4 Cr Q1 Revenue; EBITDA Margins Compress to 5.8% Amid High Input Costs

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 27 Jul 2026, 03:44 PM

Nelcast reported a modest 2.8% YoY revenue growth to ₹345.4 Cr for Q1FY27, but profitability faced significant pressure. EBITDA fell 38% YoY to ₹20.1 Cr, with margins contracting from 9.6% to 5.8% due to elevated raw material costs and labor challenges. Net profit declined sharply to ₹5.1 Cr from ₹12.5 Cr in the year-ago period. Management expects a recovery in H2FY27 driven by new product launches and improved capacity utilization at the Pedapariya plant.

Revenue grew 2.8% YoY to ₹345.4 Cr, accounting for approximately 26% of TTM revenue
EBITDA per kg dropped significantly to ₹9.5 from ₹14.7 in Q1FY26
Tractor segment contribution increased to 27.1% of total revenue from 23.5% YoY
Long-term debt reduced to ₹36.9 Cr as of March 2026, down from ₹68.6 Cr in March 2025
Exports reached ₹113.3 Cr, showing an 8.2% sequential improvement from the previous quarter

💡 Investors should monitor the ramp-up of new products starting Q2FY27 and track the recovery of EBITDA/kg toward the historical ₹14-15 range as cost pass-throughs and utilization improve.

Nelcast Q1 PAT Drops 59% YoY to ₹5.1 Cr; EBITDA Margins Contract to 5.8%

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 27 Jul 2026, 03:38 PM

Nelcast reported a weak Q1 FY27 with PAT declining 58.9% YoY to ₹5.1 Cr, despite a marginal 2.8% revenue growth to ₹345.4 Cr. Operating performance was severely impacted as EBITDA margins compressed by 381 bps to 5.8%, down from 9.6% in the previous year. The company cited elevated raw material costs and labor availability constraints as primary reasons for the margin hit. Management expects recovery in the second half of FY27, supported by price revisions and new product launches starting in Q2.

Total Revenue grew marginally by 2.8% YoY to ₹345.4 Cr compared to ₹336.0 Cr in Q1 FY26.
EBITDA declined sharply by 37.9% YoY to ₹20.1 Cr, with EBITDA per kg falling 35.5% to ₹9.5.
Net Profit (PAT) fell 58.9% YoY to ₹5.1 Cr from ₹12.5 Cr in the year-ago period.
Exports contributed 33.4% of the revenue mix, showing sequential improvement.
M&HCV and Tractor segments remain the largest domestic contributors at 35.1% and 27.1% of revenue respectively.

💡 Watch for the successful implementation of price revisions in Q2 and Q3 FY27 to offset raw material costs. Investors should also monitor the volume ramp-up of new products scheduled for production in Q2 FY27, which are expected to improve capacity utilization.

Nelcast Reconstitutes Stakeholders Relationship and CSR Committees Effective July 27, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Jul 2026, 02:41 PM

Nelcast Limited has announced the reconstitution of two key board committees effective July 27, 2026. The Stakeholders Relationship Committee will now be chaired by Ms. Maheswari Mohan, a Non-Executive Independent Director, while the CSR Committee will be chaired by Executive Director Mr. P. Deepak. These changes are administrative in nature and align with standard corporate governance practices for a company with a TTM revenue of ₹1,328 crore. There is no change to the company's operational or financial outlook as a result of this filing.

Reconstitution of 2 board committees effective from July 27, 2026
Stakeholders Relationship Committee to be led by an Independent Director (Ms. Maheswari Mohan)
CSR Committee to be led by an Executive Director (Mr. P. Deepak)
Company maintains a market capitalization of ₹1,184 crore as of the announcement date

💡 This is a routine governance update; investors should continue to focus on the company's transition to high-complexity machined castings and export growth.

58.9% YoY PAT Drop in Q1 FY27; Revenue Grows Marginally to Rs 341.05 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 27 Jul 2026, 02:25 PM

Nelcast reported a weak set of Q1 FY27 results with Net Profit (PAT) falling 58.9% YoY to Rs 5.14 Cr, despite a marginal 2.8% YoY revenue growth to Rs 341.05 Cr. Sequentially, the performance was even more subdued, with revenue declining 7.4% and PAT dropping 66.3% from the March 2026 quarter. Profitability was severely impacted by higher 'Other Expenses' and a significant swing in inventory adjustments. The company's subsidiary, NC Energy, remains non-operational with zero revenue contribution.

Revenue from operations stood at Rs 341.05 Cr, up 2.8% from Rs 331.86 Cr in the same quarter last year.
Net Profit (PAT) plummeted to Rs 5.14 Cr from Rs 12.50 Cr in Q1 FY26, a decline of 58.9%.
Earnings Per Share (EPS) fell to Rs 0.59 from Rs 1.44 in the year-ago period.
Other Expenses rose to Rs 107.66 Cr, accounting for 31.6% of revenue compared to 29.9% YoY.
Finance costs decreased to Rs 6.57 Cr from Rs 9.32 Cr YoY, providing a small cushion to the bottom line.

💡 Investors should monitor management's commentary on margin recovery and the impact of TREM V emission norms on tractor demand, which is a key end-market for the company.

Nelcast Confirms 100% Demat Holding for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 09 Jul 2026, 12:49 PM

Nelcast Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent (RTA), Bigshare Services Private Limited, confirmed that no rematerialization requests were received during the quarter ended June 30, 2026. Furthermore, the RTA noted that the entire shareholding of the company is already held in dematerialized form. This is a standard procedural filing with no impact on the company's financial or operational standing.

100% of the company's shares are currently held in dematerialized form
Zero requests for rematerialization were received during the quarter ended June 30, 2026
Compliance certificate issued by Bigshare Services Private Limited on July 8, 2026
Filing covers the reporting period from April 1, 2026, to June 30, 2026

💡 No action is required as this is a routine administrative filing. Investors should monitor the upcoming quarterly earnings report for material business updates.

Nelcast Schedules Q1 FY27 Earnings Call for July 28, 2026

🟡 NEUTRAL ⭐ 2/10

EARNINGS 📅 07 Jul 2026, 05:05 PM

Nelcast Limited has announced its Q1 FY2026-27 earnings conference call for July 28, 2026, at 11:00 AM IST. The management, including the CEO and CFO, will discuss the financial performance for the quarter ended June 2026. This follows a TTM revenue of Rs 1,328 Cr and a recent March 2026 quarterly PAT of Rs 15.27 Cr. Key discussion points are expected to include the impact of TREM V emission norms and the 50% US import tariffs on margins.

Conference call scheduled for July 28, 2026, to discuss Q1 FY27 results
Company operates with an installed capacity of 1,60,000 MTPA
TTM revenue stands at Rs 1,328 Cr with an operating margin of 8.3%
Promoter holding remains stable at 74.87% as of March 2026

💡 Watch for management commentary on export demand and the transition to high-complexity machined castings during the July 28 call.

Nelcast to Hold 44th AGM on July 27, 2026; FY26 Annual Report Released

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Jul 2026, 02:01 PM

Nelcast Limited has scheduled its 44th Annual General Meeting (AGM) for July 27, 2026, to be conducted via video conferencing. The company has released its Annual Report for the financial year 2025-26, providing shareholders with detailed financial and operational performance data. Key administrative dates include a voting cut-off on July 20, 2026, and a remote e-voting window from July 23 to July 26, 2026. The register of members will remain closed from July 21 to July 27, 2026, for the purpose of the AGM.

44th Annual General Meeting scheduled for July 27, 2026, at 3:30 PM
Cut-off date for determining e-voting eligibility is July 20, 2026
Remote e-voting period active from July 23, 2026 (9:00 AM) to July 26, 2026 (5:00 PM)
Book closure period for share transfers set from July 21 to July 27, 2026
Annual Report for FY 2025-26 made available on the company website for all members

💡 Investors should review the FY26 Annual Report for management commentary on the impact of US tariffs and the transition to high-complexity machined castings. Monitor the AGM for any updates on the 1,60,000 MTPA capacity utilization.

Nelcast Reports 29% Export Contribution in FY26 Sustainability Disclosure

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Jun 2026, 06:33 PM

Nelcast Limited has released its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, highlighting that exports now account for 29% of its Rs 1,328.40 Cr turnover. The company serves 13 international markets and 16 Indian states, maintaining a 100% focus on iron castings for commercial vehicles and tractors. While the company has established a Risk Management Committee, it has not yet set specific ESG targets or obtained independent assurance for its BRSR Core. Employee turnover for permanent staff saw a slight increase to 16.77%, while worker turnover improved to 5.09%.

Exports contributed 29% of the total turnover of Rs 1,328.40 Cr in FY 2025-26
Permanent employee turnover rate increased to 16.77% from 15.85% in the previous year
Company serves 13 international countries across North America, Europe, and Southeast Asia
Board diversity stands at 28.57% with 2 female directors out of 7 total members
Resolved 131 employee and worker complaints during the financial year

💡 Monitor the company's progress in setting specific ESG targets and obtaining independent assurance, which are currently absent. Investors should also track the impact of US tariffs on the 29% export segment.

View All NELCAST Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Domestic M&HCV segment (37.1% of 9M FY2025 revenue), Domestic Tractor segment (23.6% of 9M FY2025 revenue), and Exports (34.8% of 9M FY2025 revenue). Overall revenue for FY2025 was INR 1,263.4 Cr, a marginal decline of 0.85% YoY from INR 1,274.2 Cr in FY2024.

Geographic Revenue Split

Domestic India (64% of FY2025 revenue) and Exports (36% of FY2025 revenue at INR 445.22 Cr). Export concentration is high in the USA, with additional presence in Europe and Southeast Asia.

Profitability Margins

Net Profit Margin (PAT/OI) declined from 4.3% in FY2024 to 3.0% in FY2025. Profit After Tax (PAT) fell 31.4% YoY to INR 37.3 Cr in FY2025 from INR 54.4 Cr in FY2024.

EBITDA Margin

Operating Margin (OPBDIT/OI) was 8.0% in FY2025, up 20 bps from 7.8% in FY2024. However, it declined to 7.3% in 9M FY2025 (down 120 bps YoY) due to cost inflation and revenue decline.

Capital Expenditure

Annual maintenance capex of INR 20.0-25.0 Cr is planned for FY2026 and FY2027, to be funded through internal accruals. Significant debt-funded capex was completed in previous years.

Credit Rating & Borrowing

Ratings reaffirmed at [ICRA]A (Stable) and [ICRA]A1. Total debt/OPBDIT stood at 3.3x in FY2025, while interest coverage was 2.9x.

⚙️ Operational Drivers

Raw Materials

Pig iron and steel scrap (Specific % of total cost not disclosed, but commodity price softening contributed to a 5.7% YoY revenue decline in 9M FY2025).

Capacity Expansion

Current installed capacity is 1,60,000 MTPA across factories in Ponneri (TN), Gudur (AP), and Pedapariya (AP). No major debt-funded expansion is planned over the medium term.

Raw Material Costs

Not disclosed as a specific % of revenue; however, inability to pass on cost inflation led to a 120 bps decline in operating margins in 9M FY2025.

📈 Strategic Growth

Expected Growth Rate

11.30%

Growth Strategy

Transitioning to medium-to-high complexity machined castings to differentiate from low-cost Chinese competition; expanding export customer base in North America and Europe; leveraging a healthy order book from new global OEM platforms.

Products & Services

Ductile and grey iron castings including axle housings, clutch housings, and bogie suspension brackets.

Brand Portfolio

Nelcast

New Products/Services

Machined castings for global OEMs and new platforms; specific revenue contribution % not disclosed.

Market Expansion

Targeting North America, Europe, and Southeast Asia; increasing export customer base periodically.

Market Share & Ranking

One of the larger players in the Indian ductile iron/grey castings market.

🌍 External Factors

Industry Trends

Domestic tractor industry projected to grow ~11.3% to 975,000 units in FY2026; transition to TREM V emission norms by April 2026 will increase vehicle costs.

Competitive Landscape

Competes with local and Chinese suppliers; differentiates through specialized high-complexity products to maintain higher margins.

Competitive Moat

Safety-critical nature of products (axle/clutch housings) and long lead times for OEM validation (1-2 years) create high switching costs and durable competitive advantages.

Macro Economic Sensitivity

High sensitivity to domestic economic cycles (M&HCV segment is 37.1% of revenue) and global macro-economic trends affecting exports (34.8% of revenue).