Steelcast LimitedQ1 FY27 Results & Financial Update
Steelcast Limited: Q1 FY27 standalone results and company financials – revenue ₹124.82 Cr, PAT ₹23.71 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Steelcast Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Steelcast reported revenue from operations of INR 124.82 crore for the quarter ended 30 June 2026, accompanied by total income of INR 128.06 crore including other income of INR 3.24 crore.
Profit before tax for Q1 FY27 stood at INR 31.78 crore, while profit after tax reached INR 23.71 crore, resulting in basic and diluted earnings per share of INR 2.34.
Sales volumes reached 4,036 tonnes during the quarter, showing volume expansion compared to 3,618 tonnes recorded in Q1 FY26 as demand improved across core segments.
Export markets accounted for 62% of the quarterly revenue mix at INR 77.38 crore, while domestic sales contributed 38% at INR 47.44 crore, reflecting continued strength in overseas client engagement.
Total raw material consumption and value addition expenses were reported at INR 73.0 crore, which included INR 34.2 crore for consumed materials, INR 18.0 crore for power, fuel and water charges, and INR 18.7 crore for stores and spares.
Employee expenses for the quarter stood at INR 15.1 crore, while depreciation and amortization expense was INR 3.29 crore and finance costs remained modest at INR 0.17 crore.
Management noted that mining and earthmoving sectors remain primary growth pillars, while ground engaging tools (GETs) and defense continue to scale up.
01 · Business model
What does Steelcast do?
Steelcast Limited has over six decades of manufacturing experience specializing in structural steel and alloy steel castings using sand and shell casting processes.
The company operates four production plants, including a machine shop equipped with advanced technology, enabling approximately 75% of castings to be shipped in fully machined condition.
Steelcast serves nine distinct industrial sectors, with core demand driven by earth moving, mining and mineral processing, construction, cement manufacturing, electro-locomotives, transport, railways, and defense.
Holding a Two-Star Export House status, the company caters to multinational OEMs and Fortune 500 companies across 16 countries, supported by a 29,000 tonnes per annum (TPA) total manufacturing capacity.
02 · Historical context
What shaped the business before this quarter
Established over 66 years ago, Steelcast has evolved into a premier structural steel casting supplier with extensive experience navigating multiple industrial business cycles.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹124.82 Cr |
| Total income | ₹128.06 Cr |
| Profit before tax | ₹31.78 Cr |
| Profit after tax | ₹23.71 Cr |
| EPS | ₹2.34 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Quarterly sales volume reached 4,036 tonnes in Q1 FY27, up from 3,618 tonnes in Q1 FY26, driven by steady demand recovery in international and domestic markets.
Export markets generated 62% of revenue during the quarter, while domestic operations contributed 38%, underscoring robust overseas demand from multinational OEMs.
Approximately 75% of total castings are shipped in a fully machined state, supporting higher realization per tonne.
What drove margins
Total raw material and value addition expenses reached INR 73.0 crore, encompassing INR 34.2 crore in material consumption and inventory changes.
Power, fuel, and water charges stood at INR 18.0 crore for the quarter, reflecting energy-intensive foundry operations.
Employee expenses were recorded at INR 15.1 crore, while finance costs were kept low at INR 0.17 crore, reflecting minimal debt dependency.
05 · Demand, customers & order book
Where demand is coming from
Steelcast maintains long-term supplier associations with marquee global OEMs and Fortune 500 companies, including Caterpillar Inc.
Management reported an adequate order book with healthy bookings across all serviceable segments for FY27.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Mining, mineral processing, and earthmoving industries remain the primary revenue contributors for the company.
Ground engaging tools (GETs), railways, and defense applications are emerging as key focus growth areas with anticipated repeat orders from overseas defense clients.
Geography and market mix
The company currently exports to 16 countries across North America, Europe, Asia, and Australia, with strategic plans to expand its presence to 18+ countries over the next 1 to 2 years.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total aggregate manufacturing capacity stands at 29,000 tonnes per annum (TPA) across four production plants, including a specialized machine shop.
Projects, capex and execution
The Board of Directors approved an 8,500 TPA greenfield foundry with an estimated capital expenditure of approximately INR 120 crore over the next two years to expand steel casting capabilities for components weighing 5 kg to 1,000 kg.
A new 2.4 MW hybrid power plant is under commissioning with an expected completion date of 31 December 2026, projected to yield annual power cost savings of approximately INR 3.6 crore.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company continues to expand its product scope by developing ready-to-use machined parts and increasing penetration into high-margin industrial applications.
09 · Reported developments
What changed operationally
Q1 FY27 PAT stood at INR 23.71 crore on revenue of INR 124.82 crore, reflecting healthy operational efficiency.
Ongoing installation of the 2.4 MW hybrid power plant will complement existing 9.5 MW captive power installations to reduce energy overheads.
10 · Items worth noticing
The line items that can distort a quick read
Other income of INR 3.24 crore contributed to total income during Q1 FY27.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Steelcast maintains a robust balance sheet position as a debt-free entity with negligible finance costs.
12 · Management guidance & targets
What management is targeting from here
Management expects more than 20% growth in revenue for FY27.
Management expects to maintain its margin profile at existing levels throughout FY27.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Locational Advantages
Proximity to Bhavnagar rolling mills and Alang ship recycling yard provides ready access to pure scrap metal, while connectivity via Ro-Pax ferry services to Hazira cuts transit distance from 370 km to 60 km.
Reported update
Accreditations
The company holds ISO 9001, ISO 14001, ISO 45001, EN 9100 for aerospace, NABL accreditation for defense testing, and AAR accreditation for American railroads.
14 · Key Q&A
The quarter, answered directly
What does Steelcast do?
Steelcast Limited has over six decades of manufacturing experience specializing in structural steel and alloy steel castings using sand and shell casting processes.
What is the clearest takeaway from Q1 FY27?
Steelcast reported revenue from operations of INR 124.82 crore for the quarter ended 30 June 2026, accompanied by total income of INR 128.06 crore including other income of INR 3.24 crore.
What drove revenue or demand?
Quarterly sales volume reached 4,036 tonnes in Q1 FY27, up from 3,618 tonnes in Q1 FY26, driven by steady demand recovery in international and domestic markets.
What mattered most for margins or profitability?
Total raw material and value addition expenses reached INR 73.0 crore, encompassing INR 34.2 crore in material consumption and inventory changes.
What changed operationally beyond the headline numbers?
Total aggregate manufacturing capacity stands at 29,000 tonnes per annum (TPA) across four production plants, including a specialized machine shop.
What is management guiding or targeting from here?
Management expects more than 20% growth in revenue for FY27.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Greenfield Foundry Progress: Monitor execution milestones and capital expenditure deployment for the 8,500 TPA greenfield foundry project over the next two years.
- 02
Hybrid Power Plant Commissioning: Track the commissioning of the 2.4 MW hybrid power plant by 31 December 2026 and its subsequent impact on power cost savings.
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