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Nelcast Ltd (NELCAST)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532864 NSE: NELCAST Castings/Forgings | Small Cap | Nelcast Share Price

₹135.45 -2.50 (-1.81%)

As on 11-Jun'26 16:59

Nelcast Ltd (NELCAST)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532864 NSE: NELCAST Castings/Forgings | Small Cap | Nelcast Share Price

₹135.45 -2.50 (-1.81%)

As on 11-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,200 Cr.
Current Price
₹135.5
52-Week Low / High
₹86 / 181
TTM EPS
₹5.6
TTM Sales
₹1,328 Cr.
Book Value per Share
₹68.6
P/E Ratio
24.78
Lower than its 5-year historical median
Industry PE
41.1
Price to Book (P/B)
2.01
Higher than its 5-year historical median
Price to Sales (P/S)
0.90
Higher than its 5-year historical median
EV/EBITDA
11.03
Lower than its 5-year historical median
Dividend Yield
0.60%
Profitability Efficiency
Return on Equity (ROE)
6.96%
Underperforms industry median
Return on Capital Employed (ROCE)
9.98%
Underperforms industry median
Return on Assets (ROA)
3.26%
Operating Profit Margin
7.1%
Net Profit Margin
2.98%
Gross Profit Margin
5.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-1.2%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-4.06%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-31.46%
Asset Quality
Promoter Holding
74.87%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹579 Cr.
Equity
₹17.4 Cr.
Face Value
₹2
All Time Low / High
₹3.32 / 194.50

Nelcast stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Nelcast Ltd a good quality company?
Nelcast Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Nelcast Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Nelcast Ltd vs industry peers?
Nelcast Ltd revenue CAGR is 17.17%, compared to the industry median CAGR of 7.17%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Nelcast Ltd?
Promoters hold 74.87% of the Nelcast Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Nelcast Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 8.3% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Nelcast Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 14.3%14.2%14%12.6%7%4.6%6.6%9.6%12.4%10%-
Value Creation
Index
0.00.00-0.1-0.5-0.7-0.5-0.3-0.1-0.3-

Growth Parameters

Sales 5615757458565676159271,2641,2671,2521,328
Sales YoY Gr.-2.5%29.6%15%-33.8%8.5%50.8%36.3%0.2%-1.2%-
Adj EPS 3.63.94.24.33.711.22.54.23.15.6
YoY Gr.-8.3%6.9%2.6%-14.6%-74.2%22.1%112.9%69.2%-26.6%-
BVPS (₹) 35.13942.245.448.349.450.853.859.763.668.6
Adj Net
Profit
31.634.236.537.5328.210.121.536.426.748
Cash Flow from Ops. 45.22833.374.731.782.6-12.980.420.5105-
Debt/CF from Ops. 2.12.82.92.77.12.6-21.63.816.12.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 9.3%17.2%10.5%-1.2%
Adj EPS -1.8%-3.6%38.3%-26.6%
BVPS6.8%5.6%7.8%6.5%
Share Price 8.6% 11.8% 12.8% 3.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
10.810.610.39.87.91.92.34.77.458.4
Op. Profit
Mgn %
11.411.29.58.88.57.66.36.37.37.18.3
Net Profit
Mgn %
5.65.94.94.45.71.31.11.72.92.13.7
Debt to
Equity
0.30.20.30.50.50.50.60.70.60.50.1
Working Cap
Days
10011011412118016714212413915787
Cash Conv.
Cycle
4448516195877362717620

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales5615757458565676159271,2641,2671,252
Operating Expenses + 4975116747815185698691,1851,1751,163
Manufacturing Costs184199242289198195294375427414
Material Costs250244350399240290453633559550
Employee Cost 39414652474556647480
Other Costs 23273641333966112114119
Operating Profit 64647175484658799289
Operating Profit Margin (%) 11.4%11.1%9.5%8.8%8.5%7.5%6.3%6.3%7.3%7.1%
Other Income + 57791459161417
Exceptional Items 00000000184
Interest 9969131726313235
Depreciation 13131617192223242425
Profit Before Tax 46495657311219406949
Tax 14151919-535111412
Profit After Tax 3234383836914305437
PAT Margin (%) 5.7%5.9%5.1%4.5%6.4%1.5%1.5%2.4%4.3%3.0%
Adjusted EPS (₹)3.73.94.34.44.11.01.63.46.34.3
Dividend Payout Ratio (%)21.80%23%23%22.80%0%19.20%18.40%11.70%6.40%11.70%

Valuation of Nelcast - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 305339367395420430442468519553
Share Capital 17171717171717171717
Reserves 288322350378403413424451502535
Debt +807398168212181250270297255
Long Term Debt6030911411071371019869
Short Term Debt747368787174112169199187
Minority Interest0000000000
Trade Payables49699410681128181183217248
Others Liabilities 81637710963988810596105
Total Liabilities 5155456377797768379601,0261,1291,162

Fixed Assets

Net Fixed Assets +248245238291277428441432419473
Gross Block361258267338342505507515524596
Accumulated Depreciation11313294665776683105123
CWIP 013691153211442
Investments 37393939393939505162
Inventories7494111142128118159158190180
Trade Receivables6776117121113164240256301340
Cash Equivalents 535455594865611058578
Others Assets 37374037182120243927
Total Assets 5155456377797768379601,0261,1291,162

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 452833753283-138020105
PBT 46495758311219406949
Adjustment 19161723243642533152
Changes in Working Capital -10-24-237-1535-73-7-649
Tax Paid -10-13-18-13-80-1-5-16-6
Cash Flow From Investing Activity + -28-10-43-125-63-18-32-23-31-38
Capex -29-10-9-71-4-173-36-167-75
Net Investments -5-2-100-0-0-11-1-11
Others 62-34-54-5915544-3647
Cash Flow From Financing Activity + -16-17184427-512-71-39-61
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -16006150-3430-37-4-22
Interest Paid -7-6-3-7-13-17-26-31-32-35
Dividend Paid -7-3-8-10-100-2-3-3-3
Others 13-7280-0000-00
Net Cash Flow 118-7-414-42-13-496

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)10.8610.5510.710.028.832.133.266.5311.026.96
ROCE (%)14.2614.1814.0412.586.994.586.579.5812.379.98
Asset Turnover Ratio1.251.21.291.210.730.761.031.271.181.09
PAT to CFO Conversion(x)1.410.820.871.970.899.22-0.932.670.372.84
Working Capital Days
Receivable Days4040.8046.4050.8075.3082.2079.6071.7080.2093.40
Inventory Days37.9048.1049.3053.9086.9073.2054.5045.8050.1053.90
Payable Days69.2088.3085.5091.90141.90131.30124.20104.70130.40154.60

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Nelcast Ltd FAQs

The current trading price of Nelcast on 11-Jun-2026 16:59 is ₹135.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Jun-2026 the market cap of Nelcast stood at ₹1,200.2 Cr

The latest P/E ratio of Nelcast as of 10-Jun-2026 is 24.78.

The latest P/B ratio of Nelcast as of 10-Jun-2026 is 2.01.

The 52-week high of Nelcast is ₹180.7 and the 52-week low is ₹86.05.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Nelcast is ₹1,328 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Nelcast Ltd is a average quality company.

The key valuation ratios of Nelcast Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Nelcast Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Nelcast Ltd

Established in 1985, Nelcast has since been a significant and diligent participant in the ferrous casting industry, producing superior quality castings for many an industry. Nelcast has shown an astounding growth rate, growing 140 times its original size to reach its current capacity of 84,000 MT. It plans to double that capacity in about two years.

Catering to the commercial vehicle Industry since 1985 and the ttractor industry since 1990, Nelcast has diversified into various other industries to increasingly fulfill their casting needs. Today, Nelcast is one of India’s largest suppliers of the finest ductile iron and grey iron castings ranging from 0.5 kgs to 250 kgs in weight. Climbing its way up the ladder of competition, Nelcast’s focus continues to be on meeting international standards of quality at competitive prices.

Given the exacting production processes and the distinct identities and attributes of the final product, the company moved towards accordance with international standards.

Despite its high degree of documented certification, Nelcast continues to nourish its grass root principles of continually maintaining high standards of precision and quality. Nelcast currently supplies components to a wide spectrum of customers and is committed to satisfy the varying and diverse customer requirements. Having been accustomed to variety and challenges Nelcast is incessantly on the look out for even more exacting products.

With two manufacturing units located in Gudur, AP and Ponneri, TN both in South India, Nelcast is one of the largest in the foundry industry. Nelcast has a specific, yet continuous production process that caters to every function needed to produce a technologically acceptable casting component. Complete with melting, moulding and core shops to development and quality control, Nelcast takes every step necessary to creating the right component for every client in the shortest span of time.

Product range of the company includes:

Nelcast products range from industry to industry. Though primarily manufacturing casting components, Nelcast has a wide range of products.

Automobiles

  • Wheel Hubs
  • Brake Drums
  • Differential Carriers & Axle Housing
  • Slide Support
  • Shackles
  • Brackets

Trailers

  • Foot Mounting & Torque Rod

Engines

  • Cylinder Blocks
  • Heads
  • Fly Wheels
  • Fly Wheel Housing
  • Crank Shaft
  • Bearing Cap
  • Engine Support
  • Exhaust Manifolds

Tractors

  • Transmission Case
  • Centre Housing
  • Rear Axle Housing
  • Hydraulic Lift Cover

Railways

  • Inserts/Shoulders for Concrete Sleepers

Pipe Fittings

  • Ductile Iron Fittings - Size4' & Above

Achievements/ recognition:

  • 1994 – ISO 9002 Accreditation
  • 2001 – QS 9000 Accreditation
  • 2005 – TS 16949 Accreditation
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