Skip to content

    Nelcast Limited

    India's largest ductile iron castings maker and a top-10 grey iron castings producer, supplying CV, tractor and rail OEMs.

    Capital Goods
    Industrials
    ₹128.43
    -6.92% from avg

    Overview

    Price

    ₹128.43

    Market Cap

    ₹1.0k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital1717171717171717
    Reserves403413424451502535548579
    Borrowings225215280304329294292257
    Other Liabilities133195242256284317298345
    Total Liabilities7798409631.0k1.1k1.2k1.2k1.2k
    AssetsFixed Assets304455467459446512507503
    CWIP16614131356220
    Investments0001113232324
    Other Assets309371482545617627623672
    Total Assets7798409631.0k1.1k1.2k1.2k1.2k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating753283-13802010592
    Cash from Investing-125-63-18-32-23-31-38-11
    Cash from Financing4427-512-71-39-61-76
    SummaryCapital Expenditure
    Free Cash Flow-52-3562-4864-157276
    FCF Margin

    Valuation

    Assumptions

    Current — NELCAST
    Price
    ₹134
    EPS (TTM)
    ₹4.73
    PE (TTM)
    28.4
    Profit growth
    18.4%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (29.2×) and current (28.4×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹134
    vs
    Fair value · 15% return
    ₹138
    2%Undervalued

    At 18.4% growth and a 28× exit, ₹134 only delivers your return if you pay ₹138. The price is currently baking in 18% growth.

    EPS grows 18.4%/yr for 5 years, then fades to 6% over 2, exits at 28×.

    YearGrowthEPS (₹)
    FY2718.4%5.60
    FY2818.4%6.63
    FY2918.4%7.85
    FY3018.4%9.30
    FY3118.4%11.01
    FY3212.2% ·fade12.35
    FY336.0% ·fade13.09

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Nelcast Limited

    Guides on how to read this kind of business and the numbers that matter.