NELCASTIndustrials

Nelcast Limited

Castings & Forgings · ISIN INE189I01024 · BSE 532864 · NSE EQ · FV ₹2
Last price
₹108
+4.03%today
What this company does

Nelcast Limited operates in Castings & Forgings, part of the Industrials sector. It booked ₹341 cr of revenue in its latest quarter (Q1 FY27) and kept 1.5% of sales as profit. It is the 6th largest of 9 Castings & Forgings companies we track, by market value.

Nelcast is among the few companies in the industry capable of meeting the requirements of top global OEMs & Tier 1 manufacturers.
In the report:
47out of 100
Equitytale Health Score
Mixed

Healthier than 47% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
33

At close. Not part of the score.

Profitability & returns23

How much profit it earns on the money it employs

Balance sheet30

How much it owes, and whether earnings cover the interest

Cash quality70

Whether reported profit actually arrives as cash

Growth & consistency58

Whether sales and profit have grown, and how steadily

Valuation40

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Promoters hold 75%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 1.5% net margin
! Profit down 59% vs last year
! Low 3.4% return on equity

What if I invest in NELCAST?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 7% a year, it would become
₹17.20 lakh

The slider starts at 7%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹108 +4.03%
latest close · 2026-09-17
1-year return
+31.8%
52-wk low ₹5052-wk high ₹149
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio45.8High
LowAverageHigh
P/B ratio1.58Moderate
Below bookModerateHigh
EV / EBITDA13.8Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity3.4%Weak
WeakFairStrong ▸15%
Return on capital7.7%Weak
WeakFairStrong
Net margin1.5%Thin
ThinDecentStrong
EBITDA margin5.9%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.43Comfortable
LowModerateHigh ▸1
Interest cover2.0×Okay
RiskyOkayStrong ▸5×
Current ratio1.31Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹940 cr
Book value
₹69
EPS
₹0.59
latest quarter
Net debt
₹172 cr
owes more than its cash
Enterprise value
₹1,112 cr
EBITDA
₹80 cr
annualised
EBIT
₹53 cr
annualised
Operating margin
3.9%
Return on assets
1.7%
Earnings yield
2.18%
P/S
0.69
Sales / share
₹156.8
Tax rate
23.2%
Face value
₹2
Shares
8.7 cr
Working capital
₹157 cr
Current assets
₹668 cr
Current liabilities
₹511 cr
Delivery %
58.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹31₹54, midpoint ₹42

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹341 cr
Other Income₹4 cr
Total Income₹345 cr
Cost of Materials₹154 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹8 cr
Employee Benefit Expense₹24 cr
Finance Costs₹7 cr
Depreciation & Amortisation₹7 cr
Other Expenses₹140 cr
Total Expenses₹339 cr
Profit before Tax₹7 cr
Tax Expense₹2 cr
Net Profit₹5 cr
Net margin on total income1.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹162 cr46.8%
Employee benefit expense₹24 cr6.9%
Finance costs₹7 cr1.9%
Depreciation & amortisation₹7 cr2.0%
Other expenses₹140 cr40.5%
Tax expense₹2 cr0.4%
Profit for the period₹5 cr1.5%
Total income ₹345 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue330 cr368 cr341 cr
Total income332 cr371 cr345 cr
Expenses311 cr351 cr339 cr
Profit before tax21 cr21 cr7 cr
Tax5 cr5 cr2 cr
Net profit (owners' share)16 cr15 cr5 cr
Net margin (owners' share, on revenue)4.8%4.1%1.5%
EPS (₹)1.831.760.59
YoY (latest quarter): total income +2.8% · net profit -58.9%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,199 cr
Shareholder equity
₹597 cr
parent shareholders
Total debt
₹257 cr
Cash
₹85 cr
Cash flow · H1 FY26
Operating
₹21 cr
Investing
₹-6 cr
Financing
₹-41 cr
Peer comparison
Castings & Forgings · by market value
CompanyPriceMarket capP/E
AIA Engineering Limited₹3,983₹37,173 cr30.9
PTC Industries Limited₹22,670₹33,988 cr291.1
Happy Forgings Limited₹2,143₹20,227 cr55.2
Balu Forge Industries Limited₹502₹6,089 cr22.8
Steelcast Limited₹303₹3,075 cr32.4
Nelcast Limitedthis company₹108₹940 cr45.8
Synergy Green Industries Limited₹592₹920 cr
Kalyani Forge Limited₹1,016₹370 cr20.6
Hilton Metal Forging Limited₹17₹88 cr12.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.65%
trailing 12 months
Dividend / share (TTM)
₹0.7
Last dividend
₹0.7
ex 20 Jul 2026
ActionDetailEx-date
Dividend₹0.7 / share20 Jul 2026
Dividend₹0.5 / share25 Jul 2025
Dividend₹0.4 / share18 Jul 2024
Dividend₹0.4 / share28 Jul 2023
Dividend₹0.3 / share26 Jul 2022
Dividend₹0.2 / share30 Jul 2021
Who owns it · 2026-06-30
No pledge
Promoter
74.9%
FII / Foreign
0.4%
DII / Domestic
0.1%
Retail / others
24.6%
Smart-money activity
Insider trades
BoughtP. DEEPAK · Promoters2,000 · ₹1.5 L10 Jun 21
BoughtP. DEEPAK (HUF) · Promoters2,000 · ₹1.5 L9 Jun 21
BoughtP. DEEPAK · Promoters5,000 · ₹3.8 L9 Jun 21
Bulk / block deals
BoughtANKITA VISHAL SHAH · NSE4.41 L @ ₹140.110 Feb 26
SoldANKITA VISHAL SHAH · NSE3.18 L @ ₹137.5310 Feb 26
BoughtQE SECURITIES LLP · NSE5.08 L @ ₹174.511 Aug 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 1 Aug 2025
See the official result
1
To receive, consider and adopt the standalone and consolidated audited financial statements of the Company for the financial year ended 31st March 2025, together with the Reports of the Board of Directors and Auditors thereon.
Backed by 99% of shareholders other than promotersneeded 50%
1.60 L votes for, 1,305 against · 0% of mutual funds and other big investors said no
2
To Declare a Dividend for the financial year 2024-25.
Backed by 99% of shareholders other than promotersneeded 50%
1.60 L votes for, 1,305 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in the place of Mr. P. Deepak (DIN: 02785326), who retires by rotation and being eligible offers himself for re-appointment.
Backed by 99% of shareholders other than promotersneeded 50%
1.60 L votes for, 1,305 against · 0% of mutual funds and other big investors said no
4
To appoint a Director in the place of Ms. P. Divya (DIN: 05158352), who retires by rotation and being eligible offers herself for re-appointment
Backed by 99% of shareholders other than promotersneeded 50%
1.60 L votes for, 1,307 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 3 named members
owning 74.9% between them · as of 2026-06-30
P DEEPAK39.63%
P DIVYA18.57%
P DEEPAK HUF16.67%
Business done with them
FY2026 · 2 of the group
The company paid ₹3 cr to companies in the promoter group last year — about 0.3% of its ₹1,328 cr revenue.
P DEEPAK
Paid them for services · REMUNERATION
also owns 39.63% of the company
₹3 cr
company paid
P DIVYA
Paid them for services · SITTING FEES
also owns 18.57% of the company
₹5.2 L
company paid

The company also transacted with 9 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.