Thaai Casting Ltd
Thaai Casting Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
FY26 revenue growth expected around 20% over previous year (~INR150 crores), despite some project postponements. Revenue growth of ~20% expected for FY26 despite customer-side delays, targeting around INR150-170 crores (Pages 14, 15, 16).
From Thaai Casting Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- FY26 revenue growth expected around 20% over previous year (~INR150 crores), despite some project postponements.
- Certain large order delayed from January to July, pushing volume ramp-up to H2 and FY27.
- FY27 outlook positive with continued order execution and planned capacity utilization improvements.
- Gas nitriding facility revenues anticipated to increase from INR4.5 crores in H1 FY26 to INR6.5-7 crores in H2; total annual expected INR13 crores.
- New planetary gear machines expected to generate around INR25-40 crores annual revenue starting FY27.
- Order book (~INR500 crores) fully automotive, with execution timelines extending 36-80 months.
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Profitability & Margins
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Capital Expenditure Plans
- No major capex planned for FY27; focus will be on utilizing the investments made so far, especially in gas nitriding and planetary gear machines.
- Small, ongoing investments in machining may occur to support existing customers, but no big casting-related capex is expected next year due to space and cost constraints.
- Discussions for future capex expected to start next year, influenced by inquiries and potential participation in upcoming wind exhibitions.
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Top-ranked in Auto Components
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Current order book stands around INR 500 crores, entirely in the automotive segment.
- Execution timeline for the order book varies from 36 months to 80 months.
- A cumulative order value of INR 91 crores covers execution over 60 months.
- Some portion of orders expected for FY26 got postponed to next year, causing delay in H1 revenue translation.
- Postponement mainly due to customer-side delays and validation/audit processes; one major order for Brazil postponed from January to July next year.
- Management expects revenue growth of 20% for FY26 despite postponements.
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Frequently Asked Questions
What were Thaai Casting Ltd Q2 FY26 results?
FY26 revenue growth expected around 20% over previous year (~INR150 crores), despite some project postponements. Revenue growth of ~20% expected for FY26 despite customer-side delays, targeting around INR150-170 crores (Pages 14, 15, 16).
What is Thaai Casting Ltd share price analysis?
Thaai Casting Ltd currently shows a neutral. The stock trades at a P/E of 22.8 with a market cap of ₹291 Cr. Investors should review the full earnings analysis for detailed insights.
Is Thaai Casting Ltd planning capital expenditure?
No major capex planned for FY27; focus will be on utilizing the investments made so far, especially in gas nitriding and planetary gear machines.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.