Nelcast

NSE: NELCAST · Castings & Forgings

52W Range₹86 ₹181

Snapshot

Unlock Nelcast's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Nelcast Limited is an Indian manufacturer specialising in ductile and grey iron castings for the automotive, tractor, construction, mining, and railway sectors. The company produces a diverse range of components, including suspension brackets, differential carriers, and powertrain parts for both domestic and international markets.

Business Model

The company operates as a B2B supplier, generating revenue through the high-volume manufacturing and sale of precision-engineered iron castings. It leverages long-term relationships with original equipment manufacturers (OEMs) across multiple industrial verticals.

  • Incorporation Year:1982

Growth Outlook

Growth is driven by the expansion of the automotive and tractor industries, alongside increasing demand for specialised railway infrastructure components. The company continues to focus on diversifying its product portfolio to cater to evolving requirements in the off-highway and SUV segments.

Key Risks

  • Cyclical Industry Exposure. The company's performance is highly sensitive to cyclical downturns in the automotive and tractor manufacturing sectors.
  • Raw Material Price Volatility. Fluctuations in the prices of pig iron, scrap, and coke can significantly impact operating margins.
  • Input Cost Inflation. Rising energy and logistics costs pose a risk to the profitability of energy-intensive casting operations.
  • Customer Concentration. Heavy reliance on a limited number of large OEM clients may lead to revenue volatility if key contracts are lost or production volumes decline.

Price

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Key Metrics

REVENUE

₹1,328 Cr

TTM · consolidated

+6.1%YoY

NET PROFIT

₹48 Cr

TTM · consolidated

+29.8%YoY

EPS

₹5.58

TTM · consolidated

+30.1%YoY

RETURN ON EQUITY

8.6%

TTM · consolidated

+1.5 ppYoY

RETURN ON CAPITAL EMPLOYED

14.4%

TTM · consolidated

+1.7 ppYoY

P/E

23.8x

Q4 FY26 · consolidated

23.8 vs 39.9x5Y avg

EV/EBITDA

10.7x

Q4 FY26 · consolidated

10.7 vs 14.7x5Y avg

EBITDA MARGIN

9.4%

TTM · consolidated

+1.0 ppYoY

NET PROFIT MARGIN

4.1%

Q4 FY26 · consolidated

+0.0 ppYoY

DEBT TO EQUITY

0.4x

Q4 FY26 · consolidated

-0.10xYoY

Peers · Castings & Forgings

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
NelcastNELCAST
1,03823.8010.676.1%9.4%8.6%14.4%-7.5%
SteelcastSTEELCAS
2,20618.4523.6512.5%30.6%25.3%32.9%-74.9%
Synergy GreenSGIL
767199.9023.901.1%13.5%4.3%14.7%+10.4%
Inv.& Prec.Cast.INVPRECQ
52569.6327.5615.1%17.0%12.5%20.7%+51.4%
Magna ElectrocasMAGNAELQ
39928.1315.1811.3%17.8%13.9%17.9%-6.7%
Neetu YoshiNEETUYOSHI
33931.0%+13.4%

As of Q4 FY26

Financials