Nelcast Q2 FY27 Results: Consolidated Net Profit ₹16.20 Crore on Total Income of ₹410 Crore
- Earnings
- Iron castings
Reviewed byKeshav SehgalBlacklitt Research
Nelcast (NSE: NELCAST) reported total income of ₹409.56 crore and net profit of ₹16.20 crore for the quarter ended 30 Sep 2026, on a consolidated and standalone basis, it said in a filing on 02 Nov 2026. The consolidated and standalone figures are the same because the subsidiary has not started commercial operations.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹409.56 crore, up 35.2% YoY and 18.6% QoQ
- Net profit and EPS: ₹16.20 crore, up 240.7% YoY; basic EPS ₹1.86 against ₹0.55
- Other income: ₹3.61 crore, down 15.6% YoY, 0.9% of total income
- Finance costs: ₹7.45 crore, down 11.7% YoY and up 13.4% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹409.56 crore, up 35.2% YoY and 18.6% QoQ
- Net profit and EPS: ₹16.20 crore, up 240.7% YoY; basic EPS ₹1.86 against ₹0.55
- Dividend paid: ₹6.09 crore in the half-year ended 30 Sep 2026, against ₹4.35 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 409.56 | 303.01 | +35.2% | 345.39 | +18.6% | |
| Revenue from operations | 405.05 | 208.74 | +94.0% | 341.05 | +18.8% |
| Other income | 3.61 | 4.27 | -15.6% | 4.34 | -17.0% |
| 16.20 | 4.76 | +240.7% | 5.14 | +215.4% | |
| Profit before tax | 21.98 | 6.36 | +245.6% | 6.69 | +228.6% |
| Finance costs | 7.45 | 8.43 | -11.7% | 6.57 | +13.4% |
| Depreciation | 6.97 | 6.56 | +6.2% | 6.84 | +1.8% |
| Tax expense | 5.78 | 1.63 | +253.9% | 1.55 | +271.9% |
| Net profit margin | 3.96% | 1.57% | +2.39 pp | 1.49% | +2.47 pp |
| EPS, basic (₹) | 1.86 | 0.55 | +238.2% | 0.59 | +215.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit grew much faster than income. Net profit of ₹16.20 crore rose 240.7% from ₹4.76 crore a year earlier, while total income rose 35.2%. Revenue from operations rose 94.0% to ₹405.05 crore, and other income fell 15.6% to ₹3.61 crore, which is 16.4% of profit before tax of ₹21.98 crore.
Finance costs were ₹7.45 crore, 1.8% of total income, down from ₹8.43 crore a year earlier but up from ₹6.57 crore in the previous quarter. Tax expense of ₹5.78 crore is 26.3% of profit before tax, against ₹1.63 crore a year earlier.
Exceptional items are nil for the quarter and half-year. The notes do not give the reason for the rise in revenue from operations or for the change in other income and finance costs.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 409.56 | 303.01 | +35.2% | 345.39 | +18.6% | |
| Revenue from operations | 405.05 | 208.74 | +94.0% | 341.05 | +18.8% |
| Other income | 3.61 | 4.27 | -15.6% | 4.34 | -17.0% |
| 16.20 | 4.76 | +240.7% | 5.14 | +215.4% | |
| Profit before tax | 21.98 | 6.36 | +245.6% | 6.69 | +228.6% |
| Finance costs | 7.45 | 8.43 | -11.7% | 6.57 | +13.4% |
| Depreciation | 6.97 | 6.56 | +6.2% | 6.84 | +1.8% |
| Tax expense | 5.78 | 1.63 | +253.9% | 1.55 | +271.9% |
| Net profit margin | 3.96% | 1.57% | +2.39 pp | 1.49% | +2.47 pp |
| EPS, basic (₹) | 1.86 | 0.55 | +238.2% | 0.59 | +215.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone figures match the consolidated figures line by line: total income ₹409.56 crore, net profit ₹16.20 crore and basic EPS ₹1.86. The company says the subsidiary, NC Energy Limited, has not commenced commercial operations, so the two sets of results are the same for the period.
The company operates in one primary segment, Iron Castings. The half-year net profit was ₹21.34 crore, and dividends paid in the half-year were ₹6.09 crore, up from ₹4.35 crore a year earlier. The notes do not say whether that dividend was a final or an interim one.
Nelcast's market value is ₹1,250 crore at the 02 Nov 2026 close of ₹143.65 a share. In the previous quarter, net profit was ₹5.14 crore on total income of ₹345.39 crore. The quarter's profit is therefore a larger step than the income growth shows, and the filing does not explain its drivers.
Inference
The filing shows long-term borrowings proceeds of ₹10.00 crore and repayments of ₹17.08 crore in the half-year, and a paid-up equity share capital of ₹17.40 crore at face value ₹2 per share.
The auditors' limited review of both sets of results is unmodified, and they note the subsidiary's interim results were not reviewed by its own auditors. The filing does not say when NC Energy Limited will start operations or what its role in the group will be.
Filed with BSE on . Reference: Original filing (PDF)
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