Steelcast Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 4 Aug 2026 | Industrial Products | Market Cap: ₹3.4K Cr
Steelcast aims to sustain around 20% CAGR in sales over the next 3 years. Steelcast Limited expects around 11% revenue growth in FY '26 over FY '25.
From Steelcast Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹356
Market Cap
₹3.4K Cr
P/E Ratio
37.6
How does Steelcast Ltd rank in Industrial Products?
Compare Steelcast Ltd against every Industrial Products company this quarter on revenue, margins and earnings-call signals.
Steelcast Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹97 Cr, net profit ₹21 Cr.
Full financials →📊 Revenue & Sales Performance
- →Steelcast aims to sustain around 20% CAGR in sales over the next 3 years.
- →Capacity utilization is expected to increase from 46% in the current quarter to 58% in FY '27 and reach ~90% (~26,000 tons) by FY '29.
- →Volume growth is driven by serial supplies of 144 parts developed over FY '25 to FY '27.
- →Geographic and sectoral diversification is ongoing to mitigate risks, including expanding export markets from 16 to 18 countries.
- →The company is optimistic about scaling up in Ground Engaging Tools and Defence segments, with serial orders expected soon.
- →New product mix and increased output will support growth but may impact margins slightly.
- →Order book stands at INR115 crores, executable in Q4 FY '26, supporting growth momentum.
📈 Profitability & Margins
- →Steelcast Limited expects around 11% revenue growth in FY '26 over FY '25.
- →Over the last 4 years, the company delivered a 24% CAGR and is confident of sustaining ~20% CAGR over the next 3 years.
- →EBITDA margin currently around 30%, with sustainable margins of approximately 27.5%–28% over the long term.
- →PAT margin in Q3 FY '26 was 21.14%, improved from 19.11% in Q3 FY '25.
- →Operating leverage expected as capacity utilization increases, with utilization projected to rise from 46% in Q3 FY ’26 to about 58% in FY '27 and ~90% by FY ’29.
- →New product development (144 parts over FY '25 to FY '27) to drive serial supplies and volume growth.
- →Cost efficiency expected to improve with commissioning of a 2.4 MW hybrid power plant by June 2026, saving INR3.5–4 crores annually.
- →Overall, confident of maintaining stable margins and healthy profit growth through disciplined cost management and operational efficiencies.
🏗️ Capital Expenditure Plans
- →For FY '27, Steelcast Limited plans a capex of about INR 35 crores primarily for new space requirements to handle increased output and purchase of balancing equipment to manage the new product mix.
- →The company will not initiate further capex until reaching 75% annual capacity utilization.
- →Capacity utilization is expected to grow from 46% currently to 58% in FY '27 and approximately 90% by FY '29 (corrected timeline).
- →Upon reaching around 90% utilization (~26,000 tons), a new capex decision will be taken.
- →A 2.4-megawatt hybrid power plant project is expected to be commissioned by June 30, 2026, aimed at improving cost efficiency and sustainability with estimated annual savings of INR 3.5 to 4 crores.
- →The company is actively diversifying its customer base and markets as part of strategic initiatives supporting future growth.
💰 Fundraising & Capital Structure
- →Currently, Steelcast Limited has not mentioned any immediate plans for raising funds through debt or equity.
- →The company has free reserves of about INR110 crores parked in government securities and fixed deposits, potentially increasing to INR125-130 crores by year-end.
- →Management clarified they will not venture into capital expenditure (capex) until reaching an annual capacity utilization rate of 75%.
- →For FY '27, planned capex is approximately INR35 crores, intended for new space and balancing equipment, funded from internal accruals without referring to new fundraising.
- →No explicit statements on fresh debt or equity fundraising were made during the Q3 FY '26 earnings call or transcript.
📋 Order Book & Pipeline
- →Current order book stands at INR 115 crores.
- →The order book is executable in the current quarter (Q4 FY '26).
- →The backlog of orders includes a significant portion from the U.S. market.
- →Plans to diversify the customer base geographically to mitigate risks, adding exports to about 18 countries soon from current 16.
- →New parts development pipeline is strong, with 42 parts to be developed in FY '27, adding to 144 parts developed over recent years, expected to convert into serial supplies driving capacity utilization growth.
- →Capacity utilization targeted to increase from 46% currently to 58% in FY '27, aiming for ~90% by FY '29.
- →No planned capex until annual utilization hits 75%, with free reserves of INR 110-130 crores parked safely to support future expansion.
Key Metrics
Frequently Asked Questions
What were Steelcast Ltd Q3 FY26 results?
Steelcast aims to sustain around 20% CAGR in sales over the next 3 years. Steelcast Limited expects around 11% revenue growth in FY '26 over FY '25.
What is Steelcast Ltd share price analysis?
Steelcast Ltd currently shows a neutral. The stock trades at a P/E of 37.6 with a market cap of ₹3,410 Cr. Investors should review the full earnings analysis for detailed insights.
Is Steelcast Ltd planning capital expenditure?
For FY '27, Steelcast Limited plans a capex of about INR 35 crores primarily for new space requirements to handle increased output and purchase of balancing equipment to manage the new product mix.
Keep Steelcast 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 concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.