Steelcast Limited has informed the Exchange about Investor Presentation
AC/2079
31.10.2025
The Secretary, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI - 400 001
National Stock Exchange of India Limited, Exchange Plaza, 5th Floor, Plot No.C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051
Scrip Code: 513517
Scrip Symbol: STEELCAS
Dear Sir/Madam,
Subject:
Submission of Investor Presentation under Regulation 30 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015.
In accordance with Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the Investor Presentation for the Quarter and Half year ended 30th September, 2025 (Q2FY26) as an attachment. This is for the general information of the investors and public at large. This Investor Presentation may also be accessed on the website of the company at www.steelcast.net
We request you to take the same on record and disseminate on your respective websites.
Thanking you,
For STEELCAST LIMITED,
(Umesh V Bhatt) COMPANY SECRETARY
L:\AC\2079\COMPLIANCES\SECRETARIAL\NSE and BSE Announcements\Presentation\2025.10.31\Covering Letter.docx
STEELCAST
INVESTOR PRESENTATION Q2FY26 & H1FY26
TABLE OF CONTENTS
Company Overview
Financial Performance
Outlook & Rationalization Measures
Strong Business Model
Page 2
01.
Company Overview
Page 3
Steelcast – In a Nutshell
65 Years
Manufacturing Experience
29,000 TPA
Capacity
5 Kgs-2,500 Kgs
Varied Products Weights
9
Sectors Catered Currently
80%
Renewable Power Plants Captive Power Supply
75% Castings shipped as fully machined
shipped as fully machined
Two Star Export House
Competes with Global players
Sand & Shell Casting
Manufacturing Process
4 Production Plants including one Machine shop with latest State of Art Technology Advanced Manufacturing Facility
Page 4 Page ‹#›
Steelcast – Over 6 Decades of Legacy
Company enjoys a Premier Position in the steel Casting Industry in India
Sectors catered
One of the few companies in India and Globally manufacturing structural steel castings based on sand and shell casting process
Wide range of products of Steel and Alloy Steel Castings
Catering to diverse Industrial sectors like Earth Moving, Mining & Mineral Processing, Locomotives, Rail-Road, construction, Cement and Steel Mfg. etc.
Catering to a host of Original Equipment Manufacturers (OEMs)
Caters to highly reputed multinational clientele both in India and abroad including Fortune 500 companies
Earth Moving
Mining
Construction
Ground Engaging Tools (GETs)
Cement
Electro Locomotive
Transport
Railway
Defence
24%
Robust 4Y CAGR Revenue in FY25
FY25
₹110.5 Cr
EBIDTA*
29.6% EBITDA Margin*
₹ 72.2 Cr PAT
19.3% PAT Margin
* EBITDA is including Other Income
• • The previous year’s figures have been regrouped/ reclassified wherever necessary
Page 5 Page ‹#›
02.
Financial Performance (Q2FY26 & H1FY26)
Page 6
Q2FY26 & H1FY26 Performance Highlights
Revenue (Rs. Cr)
EBITDA* (Rs. Cr)
PAT (Rs. Cr)
106.7
75.4
+ 42% YoY
34.2
21.1
+ 62% YoY
23.2
13.3
+ 75% YoY
213.3
152.8
+ 40% YoY
64.2
41.9
+ 53% YoY
43.1
26.2
+ 64% YoY
Q2FY26
Q2FY25
H1FY26
H1FY25
Highlights
The company reported better performance in Q2FY26 v/s Q2FY25 due to surge in demand in export market.
Overall profitability improved in Q2FY26 compared to Q2FY25 due to improvement cost in optimization.
operational
efficiency
and
The Company has made significant strides in expanding its product offerings, customer base, and industry reach for both existing and new markets by leveraging its skilled and experienced workforce. The company is committed to enhancing its presence in existing and new sectors, which are expected to make a substantial impact on its earnings.
* EBITDA is Including Other Income
Page 7 Page ‹#›
Q2FY26 & H1FY26 Result Highlights
QoQ Highlights
Revenue from Operations (₹ Cr)
EBIDTA* (₹ Cr) & EBITDA Margin * (%)
PAT (₹ Cr) & PAT Margin (%)
106.7
106.7
Q1FY26
Q2FY26
YoY Highlights
Revenue from Operations (₹ Cr)
106.7
75.4
Q2FY25
Q2FY26
0% QoQ
41.5% YoY
40.0
35.0
30.0
25.0
20.0
15.0
10.0
5.0
-
35.0
30.0
25.0
20.0
15.0
10.0
5.0
-
30.0
34.2
32.0%
31.0%
30.0%
28.1%
32.0%
Q1FY26
Q2FY26
29.0%
13.8% QoQ
28.0%
27.0%
26.0%
EBIDTA * (₹ Cr) & EBITDA Margin *(%)
21.1
28.0%
Q2FY25
34.2
33.4%
31.4%
29.4%
62.2% YoY
27.4%
32.0%
Q2FY26
25.4%
23.4%
* EBITDA is including Other Income
• • The previous year’s figures have been regrouped/ reclassified wherever necessary
24.0
23.0
22.0
21.0
20.0
19.0
18.0
25.0
20.0
15.0
10.0
5.0
-
23.2
21.8%
Q2FY26
19.9
18.6%
Q1FY26
PAT (₹ Cr) & PAT Margin (%)
23.2
13.3
17.6%
21.8%
Q2FY25
Q2FY26
22.5%
20.5%
18.5%
16.5%
14.5%
12.5%
10.5%
22.2%
17.2%
12.2%
7.2%
2.2%
-2.8%
16.8% QoQ
74.6% YoY
Page 8 Page ‹#›
Quarterly Profit & Loss Statement
Particulars (Rs. Cr )
Q2FY26
Q2FY25
Y-o-Y
Q1FY26
Q-o-Q
H1FY26
H1FY25
Y-o-Y
Revenue from Operations
Cost of Materials consumed
106.7 75.4
41.5%
106.7
0.0%
213.3
152.8
18.9 18.3
3.5%
23.4
-19.3%
42.3
33.3
39.6%
27.2%
Changes in Inventories of finished goods & WIP
4.3 -6.7
164.6%
-0.7
702.0%
3.6
-4.1
187.8%
Manufacturing Expense
11.9 9.8
21.3%
12.3
-3.2%
24.1
18.6
Power, Fuel & Water Charges
10.6 9.3
14.1%
11.7
-9.8%
22.3
17.3
Consumption of Stores & Spares
13.3 11.3
17.6%
15.4
-13.2%
28.7
21.0
Total Raw Material and Value Add
58.9 42.0
40.5%
62.0
-4.9%
120.9
86.1
Employee Expenses
Other Expenses
13.0 10.4
24.5%
12.9
0.7%
25.8
20.6
4.5 4.0
14.5%
4.5
0.6%
9.1
7.3
EBITDA (Excluding Other Income)
30.2 19.0
58.8%
27.3
10.7%
57.5
38.7
29.3%
28.9%
36.4%
40.4%
25.3%
23.4%
48.5%
EBITDA % (Excluding Other Income)
28.3%
25.2%
308 bps
25.6%
274 bps
27.0%
25.3%
161 bps
Depreciation and Amortisation Expense
Finance Costs
Other Income
PBT
PBT %
Tax Expenses
PAT
PAT %
EPS (₹)
3.2
0.0
4.0
3.1
0.0
2.0
1.1%
24.4%
93.2%
3.2
0.2
2.7
-0.8%
-74.1%
45.2%
6.4
0.2
6.7
6.3
0.1
3.2
30.9 17.9
73.0%
26.7
16.1%
57.6
35.4
0.7%
43.4%
110.6%
62.6%
29.0%
23.7%
527 bps
25.0%
403 bps
27.0%
23.2%
382 bps
7.7 4.6
68.1%
6.8
14.1%
14.5
9.2
23.2 13.3
74.6%
19.9
16.8%
43.1
26.2
57.7%
64.4%
21.8%
2.29
17.6%
1.31
413 bps
18.6%
313 bps
20.2%
17.2%
304 bps
74.6%
1.96
16.8%
4.26
2.59
64.4%
Page 9 Page ‹#›
Balance Sheet
Assets (Rs.Cr)
FY25
H1FY26
Liabilities (Rs.Cr)
FY25
H1FY26
Non – Current Assets Property, plant and equipment Capital work-in-progress
Intangible Assets Financial Assets (i) Investments (ii) Loans (iii) Other Financial Assests Other Non - Current Assets Total Non – Current Assets Current Assets
Inventories Financial Assets (i) Investments (ii) Trade Receivables
(iii) Cash and cash equivalents including Bank Balance (iv) Other Financial Assets Other Current Assets Total Current Assets Total Assets
141.7 1.7 0.2
150.3 5.8 0.1
Equity
Equity Share Capital
Other Equity
Total Equity
0.0
0.0
Liabilities
0.0 37.7
181.3
0.0 25.7
181.9
43.0
40.9
29.4 97.5
6.4
22.6 9.1
208.1 389.4
30.4 89.7
14.2
43.7 9.9
228.9 410.8
Non-Current Liabilities
Financial Liabilities
(i) Long Term Borrowings
(ii) Other Non – Current Liabilities
Total Non – Current Liabilities
Current Liabilities
Financial Liabilities
(i) Short Term Borrowings (Including Current Maturity)
(ii) Trade Payables
(iii) Other Financial Liabilities
Other Current Liabilities
Total Current Liabilities
Total Equity and Liabilities
10.1
315.8
325.9
10.1
349.8
359.9
-
11.6
11.6
0.0
31.7
16.8
3.4
51.9
-
11.8
11.8
0.0
18.2
15.8
5.1
39.1
389.4
410.8
Page 10 Page ‹#›
Cash Flow Statement
Cash Flow Statement (Rs. Cr )
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Cash and Cash equivalents at the beginning of the year
Effect of exchange rate changes on Cash & Cash Equivalent
Cash and cash equivalents at the end of the year
FY25
H1FY26
97.3
12.1
109.4
-11.4
98.0
-24.3
73.7
-57.6
-16.2
-0.1
0.0
-
0.0
57.6
1.9
59.5
-3.2
56.3
-12.1
44.2
-32.8
-9.3
2.0
0.0
0.0
2.0
Page 11 Page ‹#›
Revenue Breakup – Q2FY26 & H1FY26
Quarter Wise Revenue Breakup
Half Yearly Wise Revenue Breakup
Revenue (Rs Cr)
120%
100%
80%
60%
40%
20%
0%
75.90
106.7
106.7
53%
54%
47%
46%
64%
36%
120%
100%
80%
60%
40%
20%
0%
153.6
213.3
51%
49%
59%
41%
Q2FY25
Q1FY26
Q2FY26
H1FY25
H1FY26
Export
Domestic
Export
Domestic
Page 12 Page ‹#›
Sales Volume – For Previous Years and Quarters
18,000
16,000
14,000
12,000
Sales Volumes-PYs (Tonnes)
15,738
12,096
13,102
12,564
7,468
7,029
10,000
e l t i
T s x A
i
8,000
6,000
4,000
2,000
-
Sales Volumes-Qtrs. (Tonnes)
3,618
3,411
2,532
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
-
FY21
FY22
FY23
FY24
FY25
H1FY26
Q2FY25
Q1FY26
Q2FY26
Page 13 Page ‹#›
Quarterly Result analysis
30%
25%
20%
15%
10%
5%
0%
% of Revenue
24.2
21.9
17.7
Q2FY26
Q1FY26
Q2FY25
29.0
25.0
23.7
21.8
18.6
17.6
13.8
12.1
12.1
15.0
14.4
13.0
11.5
11.1
12.3
12.5
11.0
9.9
0.0
0.1
0.0
Materials Consumed
Employee Cost
Finance Cost
Mfg Expense
Power & Fuel
Stores & Spares
Other Exp
PBT
PAT
5.3
4.3
4.2
Page 14 Page ‹#›
Financial Highlights
Revenue from operations
EBIDTA & EBITDA Margin (Including Other Income)
21%
21%
24%
29%
29%
30%
477
410
373
302
158
213
64
33
116
120
110
64
FY21
FY22
FY23
FY24
FY25
H1FY26
FY21
FY22
FY23
FY24
FY25
H1FY26
EBIT & EBIT Marign (Including Other Income)
PAT & PAT Margin
12%
15%
20%
25%
26%
27%
8%
11%
98
102
98
46
19
58
33
12
15%
71
18%
75
19%
72
20%
43
FY21
FY22
FY23
FY24
FY25
H1FY26
FY21
FY22
FY23
FY24
FY25
H1FY26
• Percentage in green are margins • All other numbers are in Rs. Cr
Page 15 Page ‹#›
Balance Sheet Ratios
RoCE
43.7%
36.5%
28.2%
31.1%
29.0%
50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
12.9%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
9.3%
RoE
32.8%
27.8%
21.2%
23.9%
22.2%
FY21
FY22
FY23
FY24
FY25
H1FY26
FY21
FY22
FY23
FY24
FY25
H1FY26
Page 16 Page ‹#›
Prudent Working Capital Cycle
146
119
59
122
91
74
64
59
106
95
90
83
96
77
32
43
39
34
29
22
42
31
35
16
FY21
FY22
FY23
FY24
FY25
H1FY26
Inventory (Days)
Receivable (Days)
Payable (Days)
Working Capital Cycle (Days)
Page 17 Page ‹#›
Prudent Leverage Management
400.0 350.0 300.0 250.0 200.0 150.0 100.0 50.0 -
* Total Debt (₹ crore) Networth (₹ crore) Debt-Equity (x)
Particulars (₹ Crore)
(A) Total Debt *
(B) Cash and Bank Balance (C) Current Investments (D) Total Cash and Bank Balance – (B+C)
Net Debt – (A-D)
0.11
215.2
23.6
FY23 23.6 215.2 0.11
*
FY23
23.6
3.5
5.0
8.5
15.2
0.12
0.10
0.08
0.06
0.04
0.02
-
269.6
325.9
359.9
0.08
0.00
0.1
0.00
FY24 0.08 269.6 0.00
FY24
0.08
12.5
16.9
29.3
-29.3
*
FY25 0.1 325.9 0.00
FY25
0.05
6.4
29.4
35.8
-35.8
-
0.00
H1FY26 - 359.9 0.00
H1FY26
0
14.2
30.4
44.7
-44.7
Page 18 Page ‹#›
03.
Outlook & Rationalization Measures
Page 19
Outlook for FY26
Growth Prospect Expecting early double digit growth in FY26
Sectorial Outlook Mining and earthmoving will be key sectors. GET and defence industries are expected to ramp up.
Renewable Energy Company plans to commission a 2.4 MW hybrid power plant under the group captive model by 30th June, 2026. This plant is expected to generate annual power cost savings in the range of ~Rs. 3.5 crore to Rs. 4 crore.
Order Book Adequate order book with good bookings across all our serviceable segments.
Margins Company to maintain margin profile at the same level
Page 20 Page ‹#›
Building Excellence: Key Pillars of Steelcast's Enduring Success
Reliable quality supplier with long association with marquee customers
Seasoned and experienced management team and skilled work force
China + 1 scenario helping steelcast to be a preferred supplier
Adequate capacity with ramp-up capabilities
Six decades robust experience of surviving and sustaining business cycles
Balanced portfolio of domestic & export customers
Page 21 Page ‹#›
Strategy to Explore Potential Growth Opportunities
Entry in New Geographies
Strengthening business relationship with the existing customers
Adding new sectors
Enhancing component basket through new product development
Provides ready to use/machined parts
Short Term
• Recovery from slow-down is witnessed from
Q3 FY25
• Stable Commodity Prices at the current level • Export demand expected to be at a higher
level
Future Growth Outlook
Long Term
• Domestic demand to grow at a stable
pace
• Exploring entry into replacement markets
Page 22 Page ‹#›
04.
Strong Business Model of Steelcast
Page 23
Diversified Business Model catering to Varied OEMs in Different Industries…
Existing Segments
Earth Moving Industry
Mining
Electro Locomotive
Transportation
Cement
Construction
In FY26, mining and earthmoving will be the leading sectors
Page 24 Page ‹#›
Expanding our footprint to new segments
Foray into New Segments
Railways
Ground Engaging Tools (GETs)
Defence
Railroad industry expected to show better growth.
~ 40 new components are under development overall including GETs to drive the growth in FY26
Foresee demand from defence sector for the samples developed
Page 25 Page ‹#›
Moats
Moats of the company :
Cost Barrier
High margin due to cost plus model
Expertise spanning over decades
Debt Free
Entry barrier due to high replacement cost and Strong R&D and Technological Capabilities.
Customer loyalty
Well Experienced Team & Balanced / professional BOD
Green Energy
Global Footprints - Expected to increase the presence in 18+ countries in the next 1-2 years
Locational Advantage
Page 26 Page ‹#›
Locational Advantage
Situated in Bhavnagar, Gujarat, which is a power surplus state
Company’s own 66KV power transmission station with 10 MW power available 24*7
The major raw material (scrap) is available with high degree of purity and at competitive price from Bhavnagar & surroundings Rolling mills setup to use scrap from Alang. Asia’s biggest Ship recycling yard, situated just 50 Kms away
Skilled manpower is easily available as per requirement
Well connected with major cities of Gujarat and other places through Rail and Road network
Availability of Natural Gas by Gujarat Gas Limited for all fuel requirements through pipeline
Connectivity to Pipavav Port, which is just 130 Kms away, is one of the most important locational advantages for the company
Connected through water ways with Hazira, Surat, cutting down distance of 370 Kms to 60 Kms. Having regular Ro- Pax ferry services from Ghogha, Bhavnagar to Hazira, Surat
Page 27 Page ‹#›
Presence across the Globe
Canada
USA
Mexico
Brazil
Export Presence
Denmark Germany
Poland Slovakia
Israel
South Korea
Japan
India Headquartered
China
Thailand
Singapore
Australia
“Two-Star Export House Status holder”
We have presence in 16 countries, and we expect to increase the same in 18+ countries in the next 1 to 2 years
Disclaimer: Map not to scale. All data, information and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness
Page 28 Page ‹#›
Certifications & Recognitions
An ISO: 9001-2015 Company certified by TUV NORD, Germany (for Quality Management).
An ISO:45001-2018 Company certified by TUV NORD Germany (For Occupational Health & Safety Management System)
An ISO:14001-2015 Company certified by TUV NORD, Germany (for Environmental Management).
An EN:9100:2018 D company certified by TUV NORD Germany (for supplying to Aero Space industries)
An NABL (National Accreditation Board for testing Laboratories) certified company for chemical and mechanical testing of parts for Defense application.
Certified by Transportation & Power Generation Equipment Program, USA for “Foundry, “Heat Treating” &”NDT Testing”
Supplier Excellence Recognition (SER)- Certified level certification by Caterpillar Inc. USA
Class A approved foundry by Ministry of Railways, India
R&D Laboratory approved by The Department of Science & Technology, Government of India.
Two-Star Export House Status holder
Authorized Economic Operator (AEO) Tier 1
Accreditation by Association of American Rail Road (AAR)
Page 29 Page ‹#›
Safe Harbour
This presentation has been prepared by and is the sole responsibility of Steelcast Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions.
This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer or recommendation to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment thereof. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify the
recipient if the information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.
Certain statements contained in this presentation that are not statements of historical fact constitute “forward-looking statements.” You can generally identify forward-looking statements by terminology such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “objective”, “goal”, “plan”, “potential”, “project”, “pursue”, “shall”, “should”, “will”, “would”, or other words or phrases of similar import. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or other projections. Important factors that could cause actual results, performance or achievements to differ materially include, among others: (a) our ability to successfully implement our strategy, (b) our growth and expansion plans, (c) changes in regulatory norms applicable to the Company, (d) technological changes, (e) investment income, (f) cash flow projections, and (g) other risks.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such change or changes.
Page 30 Page ‹#›
THANK YOU
Mr. Subhash Sharma, ED & CFO
Email : ss@steelcast.com
Kanav Khanna / Arpit Mundra
Email: kanav.khanna@in.ey.com / arpit.mundra@in.ey.com
Phone Number : +91-9910036240 / +91- 9265185627
Page 31