Nelcast Ltd

Q2 FY24Industrial Products

Nelcast Ltd Q2 FY24 Results & Presentation Highlights: Revenue ₹362.6 Cr, PAT ₹16.6 Cr

Q2 FY24 investor presentation: what the company reported on revenue, margins and projects.

Price₹109

Market cap₹943 Cr

P/E23.0

Updated24 Sept 2026

Read5 min read

Based on Nelcast Ltd's Q2 FY24 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Quarter Revenue (Q2 FY24): ₹362.6 Cr, up 9.3% YoY from ₹331.7 Cr in Q2 FY23 (Page 5) - H1 FY24 Revenue: ₹659.0 Cr, 4.4% growth YoY from ₹631.2 Cr in H1 FY23 - EBITDA/kg improved: ₹14.9 i Q2FY24 EBITDA: ₹36.1 Cr, up 19.9% YoY (Q2FY23: ₹30.1 Cr) - Q2FY24 EBITDA Margin: 9.9%, up 87 basis points YoY (Q2FY23: 9.1%) - Q2FY24 PAT: ₹16.6 Cr, up 36.9% YoY (Q2FY23: ₹12.2 Cr) - Q2FY24 PAT Margin: 4.6%, up 92 basis points YoY (Q2FY23: 3.7%) Explicit margin outlook: The presentation states raw material prices are expected to remain stable at current levels going forward, supporting margin stability or improvement.

From Nelcast Ltd's Q2 FY24 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

Quarter Revenue (Q2 FY24): ₹362.6 Cr, up 9.3% YoY from ₹331.7 Cr in Q2 FY23 (Page 5)
H1 FY24 Revenue: ₹659.0 Cr, 4.4% growth YoY from ₹631.2 Cr in H1 FY23
EBITDA/kg improved: ₹14.9 in Q2 FY24 vs ₹13.5 in Q2 FY23, 11% increase (Page 5)
Product/Segment Highlights:
Growth driven by M&HCV and exports (Page 5, 4)
Tractor segment subdued, expected to remain so next few quarters (Page 4)
M&HCV sales steady with expected growth in tipper sales as infrastructure projects start (Page 4)
Exports reached record ₹130 Cr in Q2 FY24, 58% YoY growth; mild US strike impact expected in Q3 (Page 4)
Outlook:
Continued strong demand expected in M&HCV and exports for H2 FY24 (Page 4)

2 more points management made on revenue & sales performance

Profitability & Margins

- **Q2FY24 EBITDA**: ₹36.1 Cr, up 19.9% YoY (Q2FY23: ₹30.1 Cr) - **Q2FY24 EBITDA Margin**: 9.9%, up 87 basis points YoY (Q2FY23: 9.1%) - **Q2FY24 PAT**: ₹16.6 Cr, up 36.9% YoY (Q2FY23: ₹12.2 Cr) - **Q2FY24 PAT Margin**: 4.6%, up 92 basis points YoY (Q2FY23: 3.7%) **Explicit margin outlook:** The presentation states raw material prices are expected to remain stable at current levels going forward, supporting margin stability or improvement. No specific target margins are given, but an improvement in EBITDA/kg and margin is highlighted due to export growth and normalized raw material costs.

See what Nelcast Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Installed capacity: 160,000 Metric Tons per Year, with potential to increase by 50,000 MT within existing plants with minimal investment (Page 19).
No specific capex amounts or timelines explicitly mentioned for new plants or projects in the presentation.
Capacity expansions mentioned are primarily through upgrades of existing moulding lines, e.g., installation of a 2.1 x 1.2 m size line at Ponneri Plant (Page 8, 12).
No clear mention of ongoing or planned greenfield projects or new plants.

- Emphasis on improving capacity utilization levels and operational efficiencies rather than large new capital projects (Page 8). - No explicit timeline is provided for capacity increases or new projects beyond the note on capacity enhancement potential "within the existing plants with minimal investment." (Page 19). In summary, the presentation highlights capacity expansion potential within current facilities, focusing on upgrades and utilization improvements; no detailed capex or new plant projects with amounts or timelines are disclosed.

2 more points management made on capital expenditure plans

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Fundraising & Capital Structure

The presentation does not explicitly mention any recent fundraising through debt or equity.
Balance Sheet Highlights (Page 26) show fluctuations in borrowings:
Long-term borrowings changed from INR 137.42 Cr (FY22) to INR 100.67 Cr (FY23), indicating a reduction.
Short-term borrowings increased from INR 142.12 Cr (FY22) to INR 203.01 Cr (FY23).
Total borrowings (long-term + short-term) increased from INR 279.54 Cr (FY22) to INR 303.68 Cr (FY23).
Cash & cash equivalents increased significantly from INR 61.39 Cr (FY22) to INR 104.80 Cr (FY23), suggesting improved liquidity.

2 more points management made on fundraising & capital structure

See what Nelcast Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The investor presentation mentions the order situation as follows: - Exports closed the quarter at Rs. 130 Crores, reporting strong growth of 58% YoY driven by continued strong demand. - The presentation expects a steady export growth in Q3FY24 despite a mild impact from the UAW strike in the US.

- A strong order book is referenced as a basis for maintaining steady export growth. - Some new product launches scheduled for the current year are delayed to FY25 due to OEM model launch postponements, implying a significant boost in exports next financial year. No specific figures or detailed metrics on overall order inflow or total pending orders are provided; only qualitative statements about strong demand and a strong order book underpinning export outlook are mentioned.

2 more points management made on order book & pipeline

Nelcast Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹368 Cr, net profit ₹15 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Nelcast Ltd Q2 FY24 results?

What is Nelcast Ltd share price analysis?

Nelcast Ltd currently shows a neutral. The stock trades at a P/E of 22.9 with a market cap of ₹943 Cr. Investors should review the full earnings analysis for detailed insights.

Is Nelcast Ltd planning capital expenditure?

Installed capacity: 160,000 Metric Tons per Year, with potential to increase by 50,000 MT within existing plants with minimal investment (Page 19).

Keep Nelcast Ltd on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.

Revenue & Sales Performance

Profitability & Margins

Capital Expenditure Plans

Top-ranked in Industrial Products

Fundraising & Capital Structure

Order Book & Pipeline

Nelcast Ltd — Quarterly revenue & net profit

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Frequently Asked Questions