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Steelcast Q3 FY26: PAT Grows 7% to ₹20.6 Cr; EBITDA Margins Expand to 32% Despite Revenue Dip
Steelcast Limited reported a resilient Q3 FY26 with PAT growing 7.17% YoY to ₹20.59 crores, despite a 3.08% decline in revenue to ₹97.4 crores. The company achieved significant margin expansion, with EBITDA margins rising 297 basis points to 32.04% due to operational efficiencies and lower input costs. Management has provided a strong outlook, guiding for an 11% growth in FY26 and a 20% CAGR over the next three years, supported by the development of 144 new parts. Capacity utilization is projected to scale from the current 46% to 90% by FY29.
Key Highlights
Q3 FY26 PAT increased 7.17% YoY to ₹20.59 Cr, while EBITDA margins reached a high of 32.04%.
Management maintains a 20% CAGR growth guidance for the next 3 years with a target of 90% capacity utilization by FY29.
Steelcast products remain 5% to 13% more price-competitive than Chinese offerings in the US market despite tariff concerns.
A 2.4-MW hybrid power plant project is expected to be commissioned by June 2026, yielding annual savings of ₹3.5-4 Cr.
Exports contributed 63% of total revenue, with plans to increase EU market share to 20% in the next fiscal year.
💼 Action for Investors
Investors should monitor the company's progress in scaling capacity utilization from 46% toward the 90% target, which will be a key driver for future earnings. The strong margin profile and competitive pricing against Chinese exports make it a robust play in the global casting and forging sector.