Nelcast Limited submitted an Investor Presentation for Q2 & H1FY27 pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Highlights (Consolidated)

Q2FY27 Performance:

  • Total Revenue: ₹409.6 crore, increased 35.2% YoY from ₹303.0 crore in Q2FY26
  • EBITDA: ₹36.4 crore, increased 70.4% YoY from ₹21.4 crore in Q2FY26
  • EBITDA Margin: 8.9%, improved by 184 basis points from 7.0% in Q2FY26
  • EBITDA per kg: ₹14.3, improved 39.3% from ₹10.3 in Q2FY26
  • PAT: ₹16.2 crore, increased 240.7% YoY from ₹4.8 crore in Q2FY26
  • PAT Margin: 4.0%, improved by 239 basis points from 1.6% in Q2FY26

H1FY27 Performance:

  • Total Revenue: ₹755.0 crore, increased 18.1% YoY from ₹639.0 crore in H1FY26
  • EBITDA: ₹56.5 crore, increased 5.2% YoY from ₹53.7 crore in H1FY26
  • EBITDA Margin: 7.5%, decreased by 92 basis points from 8.4% in H1FY26
  • EBITDA per kg: ₹12.1, decreased 3.4% from ₹12.6 in H1FY26
  • PAT: ₹21.3 crore, increased 23.6% YoY from ₹17.3 crore in H1FY26
  • PAT Margin: 2.8%, improved by 13 basis points from 2.7% in H1FY26

Operational Highlights

Segment Performance (H1FY27 Revenue Contribution):

  • Tractors: 26.6% of revenue
  • Medium & Heavy Commercial Vehicles (M&HCV): 35.4% of revenue

Export Performance:

  • Q2FY27 Export Revenue: ₹140.9 crore, increased 78.3% YoY
  • H1FY27 Export Revenue: ₹254.1 crore, growth of 30.7% YoY
  • Customer indications point to continued strong export volumes

Strategic Developments

New Business Initiatives:

  • Foray into machining for an awarded customer programme
  • Few new products entered initial production ramp-up in Q2
  • Developing 500 kgs front and rear axles for high-HP tractors
  • Developing electrical power steering components
  • New products targeting U.S. tractor and construction equipment markets

Outlook

Overall: Expect tractor demand to slow down which is offset by strong commercial vehicle demand and healthy exports, alongside progressive contribution from new products to support growth for H2FY27.

Tractors: Expect tractor demand to moderate in H2FY27, with full-year industry growth broadly flat amid macro headwinds.

M&HCV: Strong M&HCV demand ahead and expect commercial vehicle growth to more than offset weaker tractor demand in H2FY27.

Exports: Export volumes to remain strong in H2FY27. New export products should contribute modestly in Q3 and more in Q4.

New Products & Machining: New products should contribute progressively, with larger impact in Q4. The machining programme is expected to begin by early next year and expands value-added capabilities.

EBITDA/kg: Expected to be in line with Q2 levels. Raw material and freight volatility, recovery lags and initial new-product costs could improve profitability.

Company Overview

Business: Leading producer of Ductile & Grey Iron Castings in India with installed capacity of 160,000 Metric Tons/Year.

Customer Base: Serves OEMs and Tier-1 customers in Commercial Vehicle, Tractor, Off-Highway Equipment, Railway & Passenger Vehicle segments with over 40 customers.

Market Position: Largest producer of Ductile Iron Castings, Top 10 producer of Grey Iron Castings, only casting manufacturer with product range from 0.5-400Kg.

Manufacturing Facilities: Three plants with state-of-art manufacturing facilities for High Pressure Green Sand Moulding.

Certifications: IATF & ISO certified for Quality, Environment, Health & Safety Systems.

Historical Financial Performance

Annual Revenue from Operations:

  • FY22: ₹927.3 crore
  • FY23: ₹1,264.0 crore
  • FY24: ₹1,266.9 crore
  • FY25: ₹1,251.7 crore
  • FY26: ₹1,328.4 crore

Annual PAT:

  • FY22: ₹14.2 crore
  • FY23: ₹29.7 crore
  • FY24: ₹54.4 crore
  • FY25: ₹37.3 crore
  • FY26: ₹48.4 crore

Balance Sheet Position (as of Sep'26)

  • Total non-current assets: ₹531.3 crore
  • Inventories: ₹184.4 crore
  • Trade receivables: ₹346.2 crore
  • Cash & cash equivalents: ₹72.2 crore
  • Total current assets: ₹658.2 crore
  • Total assets: ₹1,189.5 crore
  • Equity: ₹614.4 crore
  • Long-term Borrowings: ₹31.8 crore
  • Short-term Borrowings: ₹203.6 crore
  • Trade Payables: ₹258.9 crore

Sustainability Initiatives

  • About 65% of power requirement met through renewable sources
  • Plantation of trees
  • Core sand reclamation
  • Building with bricks made out of waste black sand
  • 15-20% lower power cost than grid rates

Corporate Office

159, TTK Road, Alwarpet, Chennai - 600 018