Nelcast Ltd Share Price – NSE  / BSE

Castings, Forgings & Fastners, Small Cap

In two sessions, the stock has added 13.12%, from its recent closing low of Rs 104.49 recorded on 04 March 2026.

On the technical front, the stock?s RSI (14) was currently at 56.671. An RSI reading of 70 or above indicates an overbought condition. A reading of 30 or below indicates an oversold condition.

On the daily chart, the scrip is trading above its 10-day, 20-day and 100-day simple moving averages placed at 113.27, 117.92 and 109.26, respectively.

In an exchange filing made yesterday, Nelcast stated that the credit rating agency ICRA has revised its outlook on the long-term rating of the company to ?positive? from ?stable?.

The agency has reaffirmed the company?s long-term and short-term rating at ?[ICRA] A? and ?[ICRA] A1?, respectively.

ICRA stated that the revision in the outlook on the long-term rating on the bank lines of Nelcast to ?positive? considers ICRA?s expectation of a sustained improvement in the company?s operating and financial risk profiles over the medium term, supported by its strong business profile and liquidity position.

Nelcast is one of the larger players in the Indian ductile iron/grey castings market and has an established clientele comprising major original equipment manufacturers (OEMs) in India and reputed tier-I auto component suppliers in overseas markets.

The company has a favourable mix of domestic and export customers, and its revenues are reasonably diversified across various segments and clients. Further, Nelcast enjoys a healthy wallet share with its customers for its key products and has a history of repeat orders and new business additions, supporting it in maintaining its strong business profile, going forward as well.

Nelcast derived 39.6% of its revenues in 9M FY2026 from the domestic M&HCV segment, while 25.7% came from the domestic tractor segment and another 29.4% came from exports. This exposes the company to the inherent cyclicality in the commercial vehicle (CV) segment.

Further, dependence on exports for 30-35% of revenues and concentration on the US market within that, exposes the company to region-specific risks. The impact of global macro-economic developments, including tariffs and trade agreements on the company?s business prospects, revenues and profitability will be closely monitored.

Nelcast is one of the larger players in the Indian ductile iron/grey castings market and manufactures several complex castings including axle housings, clutch housings and bogie suspension brackets.

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For Q3 FY26, consolidated profit after tax stood at Rs 15.9 crore, up 166.1% YoY from Rs 6 crore in Q3 FY25. PAT margin improved sharply to 4.8% from 2.0% in the corresponding quarter last year.

Revenue for the quarter rose 11.8% YoY to Rs 332.2 crore, compared with Rs 297.1 crore in the year-ago period.

EBITDA increased 56.5% YoY to Rs 35.9 crore from Rs 22.9 crore, with EBITDA margin expanding by 308 bps to 10.8%, compared with 7.7% in Q3 FY25. EBITDA per kg improved 35% YoY to Rs 15.9.

Looking ahead, the company said it expects healthy domestic demand and a gradual recovery in exports. Backed by a strong new-product pipeline and improved operational efficiency, Nelcast said it remains confident of sustaining long-term growth.

Nelcast?s managing director and CEO Deepak Reddy Ponnavolu said Q3 FY26 was a strong quarter, driven by healthy domestic demand in the M&HCV and tractor segments, with improved volumes and profitability aided by cost-optimisation efforts that lifted EBITDA per kg to Rs 15.9. He noted that while exports are yet to fully recover, customer schedules are stabilising and recent US tariff relief for engineering and auto products has improved sentiment and is expected to support export demand over the medium term. Looking ahead, he highlighted progress on the company?s high-value new-product pipeline, particularly at the Pedapariya facility, and said Nelcast remains well positioned for sustained growth and margin improvement as domestic CV demand stays strong into early FY27.

Nelcast manufactures grey and ductile castings for the medium and heavy commercial vehicle and tractor segments, with 30-35% of its revenues coming from exports. Its product portfolio includes differential carriers, differential cases, bogie suspension brackets and conventional brackets for M&HCVs, transmission casing, centre housing, axle housing and hydraulic lift covers for tractors, and specialised components such as base plates and brake discs for metro rail and railway applications.

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Net profit of Nelcast rose 165.89% to Rs 15.90 crore in the quarter ended December 2025 as against Rs 5.98 crore during the previous quarter ended December 2024. Sales rose 13.11% to Rs 329.62 crore in the quarter ended December 2025 as against Rs 291.41 crore during the previous quarter ended December 2024.

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Nelcast will hold a meeting of the Board of Directors of the Company on 9 February 2026.

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