Castings & Forgings company Nelcast announced Q1FY26 results Total Revenue stood at Rs 336.0 crore against Rs 302.3 crore in Q1FY25, a growth of 11.1% YoY. EBITDA for Q1FY26 was Rs 32.4 crore a robust growth of 44.3% YoY; margin for Q1FY26 stood at 9.6%. Profit After Tax during witnessed a significant growth of 57.2% YoY; stood at Rs 12.5 crore in Q1FY26. Deepak Reddy Ponnavolu, Managing Director & CEO, Nelcast, said: “We are pleased to report a strong start to FY26, continuing the growth momentum from Q4FY25. The tractor segment saw robust growth, supported by a favourable monsoon, while MHCV and other segments delivered steady performance. Despite early concerns around tariff-related uncertainties in key export markets, we believe the impact will be limited and manageable. Exports grew by 17% YoY to Rs 115 crore, and we remain optimistic about long-term opportunities, especially with the UK FTA expected to shift sourcing preferences to India. Beyond the numbers, FY26 is a transformative year for us, focused on new product development and enhancing utilization across our underutilized facilities. I am proud to share that we have successfully developed the single largest product in company’s history an impressive 500 kg casting which has been submitted for customer approval. Several other new product samples are also in progress, setting the stage for meaningful growth in FY27 and FY28. Our margins have strengthened significantly, with EBITDA per kg rising 24% YoY to Rs 14.7 per kg, reaffirming our guidance to reach Rs 15 per kg by the end of FY26. While FY25 was a year of consolidation, FY26 is about building a strong foundation for the future. We remain committed to delivering long-term value to our shareholders and are excited about the opportunities that lie ahead” Result PDF
Castings & Forgings company Nelcast announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Total Revenue was Rs 334.4 crore in Q4FY25 compared to Rs 299.2 crore reported in Q4FY24, growth of 11.7% YoY EBITDA stood at Rs 34.3 crore with an EBITDA margin of 10.3% in Q4FY25. The Profit After Tax during the quarter witnessed a significant growth of 167.5% and stood at Rs 13.5 crore in Q4FY25. FY25 Financial Highlights: Revenue during FY25 remain muted and stood at Rs 1,268.8 crore against Rs 1,281.2 crore reported in FY24 EBITDA for FY25 stood at Rs 105.6 crore compared to Rs 106.5 crore in FY24, with an EBITDA margin of 8.3% Net Profit in FY25 stood at Rs 37.3 crore Commenting on the Results, Deepak Reddy Ponnavolu, Managing Director & CEO of Nelcast, said “I am delighted to announce that Q4FY25 has been a pivotal quarter for the company, marking a shift from prolonged consolidation amidst macroeconomic challenges. As we previously indicated, we observed a revival in growth momentum during Q4FY25, and we anticipate this trend to persist moving forward. The EBITDA per kg has shown a robust recovery, and we expect to see further expansion in the coming years Our export performance has remained strong, and we do not foresee any significant risks regarding tariffs, allowing us to maintain our existing business. Looking ahead, we have begun to see promising signs this quarter, and we are ready to achieve strong growth, supported by a solid order pipeline. We have also secured orders for the production of new products which will be manufactured at our Pedapariya plant, significantly enhancing its utilization in the coming years We are optimistic about FY26, projecting a top-line growth of 10-15%, driven by favourable trends in the commercial and tractor markets. Our primary focus remains on reaching our EBITDA/kg target of ?15 per kg. We are excited about the opportunities that lie ahead.” Result PDF
Industrial Products company Nelcast announced H1FY25 & Q2FY25 results Total Revenue was Rs 335 crore in Q2FY25 compared to Rs 362.6 crore reported in Q2FY24. Revenue during H1FY25 stood at Rs 637.4 crore against Rs 659.0 reported in H1FY24. The topline remained muted amid subdued domestic and export demand for CVs. EBITDA stood at Rs 26.0 crore with an EBITDA margin of 7.8% in Q2FY25. EBITDA for H1FY25 stood at Rs 48.4 crore compared to Rs 59.0 crore in H1FY24, with an EBITDA margin of 7.6%. The Profit After Tax stood at Rs 9.8 crore in Q2FY25 and Rs 17.8 crore in H1FY25. Sector-wise Revenue: In H1FY25, largest share was contributed by Exports making up 36% of the total revenue, followed by M&HCV; 34%, Tractors 25%, Railways 1%, Off-highway equipment 3%, and Others 1%. In H1FY24, M&HCV; contributed 37% to revenue, Tractors 23%, Exports 34%, Railways 3%, Offhighway equipment 2%, and Others 1%. Deepak Reddy Ponnavolu, Managing Director & CEO of Nelcast, said: “As we review the Q2FY25, Nelcast has faced some challenging market conditions. The subdued performance this quarter is largely attributable to a dip in domestic commercial vehicle demand and a slowdown in our key export market, the United States, amidst its presidential elections. Additionally, the domestic tractor market has remained stagnant, further impacting our sales volumes and revenue realizations. Despite these short-term obstacles, we remain steadfast in our long-term vision. Our new product development is progressing as anticipated, aligning with our strategic goals. We are confident that these innovations will lead to securing orders by the end of FY25. This commitment to product excellence and customer satisfaction continues to be the cornerstone of our business philosophy. Looking to the future, we are optimistic about the recovery of demand in Q1FY26. With the US elections concluding, we expect a rebound in export demand, particularly as new emission norms come into play, which we believe will drive growth. Moreover, our efforts to tap into new export markets are gaining momentum, setting the stage for a robust FY26 and beyond. This year has been one of consolidation, but it has laid a solid foundation for Nelcast's growth and success in the coming years.” Result PDF
Industrial Products company Nelcast announced Q4FY24 & FY24 results: Total Revenue was at Rs 1,281.2 crore, flat at 0.09% YoY EBITDA at Rs 106.5 crore, up 11.6% YoY; EBITDA margin at 8.3%. The Profit After Tax stood at Rs 54.4 crore and Adjusted Profit After Tax stood at Rs. 36.6 crore Sector-wise Revenue: In FY24, the largest share was contributed by M&HCV; making up 38.6% of the total revenues, followed by Tractors – 21.2%, Exports – 35.4%, Railways – 2.2%, Off-highway equipment – 2.3%, and Others – 0.3%. In FY23, M&HCV; contributed 39.3% to revenues, Tractors – 29.3%, Exports – 26.2%, Railways – 3.2%, Off-highway equipment – 1.7%, and Others – 0.3%. Commenting on the performance, Deepak Reddy Ponnavolu, Managing Director & CEO of Nelcast, said “The operational and financial performance for FY24 reflects both the challenges and successes we have encountered. The year was marked by a slow demand in the second half, influenced by the general elections, which notably affected the sales of our M&HCV; segment and muted demand from tractor market. However, we reported an exceptional performance in our export division. We achieved a remarkable 35% year-onyear growth in exports, exceeding our target of Rs 100 crore each quarter and concluded FY24 with an impressive Rs 445 crore of export revenue. This success is part of a sustained growth story, with a seven-year compound annual growth rate (CAGR) of 40% from FY18 to FY24. The EBITDA per kg also saw a notable increase to Rs 12.48, up by 10% YoY from Rs 11.34 in FY23, thanks to improved operational performance. Our Pedapariaya Plant in Andhra Pradesh now boasts a newly installed 1 MW inhouse solar power plant, reinforcing our dedication to sustainability and cost-effectiveness while reducing our carbon footprint. Looking ahead, we are optimistic about the export market's trajectory, anticipating strong growth fuelled by increased volumes and the introduction of new products. In the domestic market, we expect to see a resurgence in the Commercial Vehicle industry in H2FY25. With robust export growth, a proficient team, and continued operational efficiencies, we are poised to deliver strong performance in the coming fiscal year. Our strategic initiatives and resilient business model equip us to navigate market fluctuations and capitalize on growth opportunities.” Result PDF
Industrial Products company Nelcast announced Q3FY24 & 9MFY24 results: Financial Highlights Q3FY24 revenue stood at Rs 323.0 crore, representing a decline of 3.2% YoY and a 10.9% decrease QoQ. EBITDA for Q3FY24 was Rs 28.2 crore, an increase of 32.5% YoY but a decrease of 21.7% QoQ. EBITDA margin for the same period was noted at 8.7%. PAT for Q3FY24 reached Rs 25.5 crore. EBITDA/kg in 9MFY24 was Rs 13.0, reflecting a YoY increase of 9%. Exports revenue in 9MFY24 was Rs 339 crore, marking a 38% YoY increase. Sector-wise Revenue Breakdown for 9MFY24 M&HCV; (Medium & Heavy Commercial Vehicles): 38% Tractors: 21% Exports: 35% Railways: 3% Off-highway equipment: 2% Commenting on the performance, Deepak Reddy Ponnavolu, Managing Director & CEO of Nelcast, said “Our export segment reported a strong growth however, the revenue growth was dragged due to subdued performance of the M&HCV; and tractors segments. I’m happy to share that our revenues from exports reached Rs 339 crore in 9MFY24, surpassing what we did for the entire FY23. We expect to sustain our quarterly run rate of Rs 100 crore and are confident of achieving our target of Rs 400 crore of revenue from exports in FY24. With new product launches scheduled for the first half of FY25, we expect this to further boost our revenues and profitability. EBITDA/kg stood at Rs 13/kg in 9MFY24, an increase of 9% YoY, and is in line with our target of Rs 12/kg in FY24. Stabilization of raw material prices, improved efficiency and increased export sales have been key contributors to this improvement. FY25 is expected to be a strong year driven by exports and pick-up in the M&HCV; segment with minimal growth anticipated from the tractor segment. We also foresee margin expansion as we optimize capacity utilization, ultimately enhancing operational efficiency through economies of scale.” Result PDF
Industrial Products company Nelcast announced Q2FY24 & H1FY24 results: Financial Performance: - Total revenue for Q2FY24 was Rs 362.6 crore, a growth of 9.3% YoY and 22.4% QoQ. - EBITDA for Q2FY24 stood at Rs 36.1 crore, up 19.9% YoY and 57.1% QoQ. - PAT for Q2FY24 was Rs 16.6 crore, showing a growth of 36.9% YoY and 131.9% QoQ. - EBITDA margin for Q2FY24 was 9.9%, an increase of 87 bps YoY and 220 bps QoQ. - PAT margin for Q2FY24 was 4.6%, a growth of 92 bps YoY and 217 bps QoQ. Segment-wise Revenue: - In H1FY24, M&HCV; contributed 37% of the total revenues, followed by Tractors (23%), Exports (34%), Railways (3%), Off-highway equipment (2%), and Others (1%). - In H1FY23, M&HCV; contributed 36% to revenues, Tractors (34%), Exports (25%), Railways (3%), Off-highway equipment (2%), and Others (~0%). Export Performance: - Export sales crossed the milestone of Rs 100 crore in Q2FY24, with a growth of over 58% YoY. - The export segment is expected to continue growing steadily, driven by a strong order book. Outlook for FY24: - Expect strong growth driven by demand in M&HCV; and exports. - Raw material prices are expected to remain stable at current levels. - Capacity utilization levels will be enhanced to take advantage of economies of scale. Commenting on the performance P Deepak, Managing Director & CEO, said, “We ended the quarter on a good note given the decent top-line growth that was driven by exports and the M&HCV; segment. On the export front, I’m very happy to share that we crossed the Rs 100 crore milestone and clocked ~Rs 130 crore, which was a growth of over 58% on a year-on-year basis. Going forward, we expect this segment to continue to grow at a steady pace on the back of our strong order book, however, the strike situation in the US might have a minimal impact in the coming quarter. Moreover, with the construction activity picking up, we also expect strong demand for tippers and hence, a significant contribution from the M&HCV; segment in the coming quarters. Improvement in EBITDA/kg was due to an increase in volume, increased contribution from exports, which tend to have better margins, alongside normalization of raw material prices. Going forward, we expect raw material prices to remain stable at current levels. FY24 is expected to end with a decent top line growth driven by pick-up in M&HCV; segment and steady growth in our export business. Besides this, we will continue to focus on enhancing our capacity utilization levels to take advantage of economies of scale and aid our margins.” Result PDF
Other Industrial Products company Nelcast announced Q1FY24 results: Total Revenue was at Rs 296.4 crore, down 1.1% YoY and 6.0% QoQ. EBITDA at Rs 23.0 crore was down 1.5% YoY and up 10.2% QoQ; EBITDA margin at 7.8% PAT stood at Rs 7.2 crore in Q1FY24 compared to Rs 7.8 crore in Q1FY23, down 7.6% YoY PAT margin at 2.4%, down 17 bps YoY Commenting on the performance P Deepak, Managing Director & CEO, said, “Our overall performance in Q1 was primarily impacted due to slowdown in the tractor segment and modest performance in the M&HCV; segment on a YoY basis. However, I am pleased to share that our export revenues reported a strong growth of 23% YoY and stood at Rs 89 crore during the quarter driven by healthy order backlog. On the margin front, last quarter our EBITDA per kg was impacted due to divergence in international and domestic raw material prices, however, as expected, we saw some convergence this quarter that led to a significant improvement in the same. Our exports tend to have better realizations and contributed towards QoQ improvement in EBITDA per kg as well. In FY24, we expect a double-digit top line growth driven by pick-up in M&HCV; segment and strong growth in export markets.” Result PDF