Alicon Castalloy Ltd (ALICON)

📊 Quarterly Results (₹ Cr)

Revenue has grown consistently over the past four quarters, rising from ₹418 crore in Q2 FY25 to ₹578 crore in Q1 FY27, reflecting accelerating demand and successful execution of capacity utilization strategies. EBITDA margin improved from 5.8% in Q2 FY25 to 11.4% in Q1 FY27, signaling operational leverage and better product mix, while PAT rose from ₹9 crore to ₹11 crore over the same period. This upward trajectory in profitability aligns with management’s focus on higher-margin offerings and cost discipline, supporting the guided margin expansion to 14-15% by FY27.

🔮 Management Outlook & What's Next

Management has provided forward-looking guidance targeting 12-15% revenue growth for FY27 and EBITDA margin improvement to 14-15%, underpinned by capacity expansion, higher-value component mix, and operational efficiency. These targets are supported by a strong order book of ₹8,450 crore, with 88% concentrated in ICE and hybrid automotive segments, indicating visibility into near-term demand. The new Pune facility is expected to contribute ₹500 crore in annual revenue by March 2027, forming a key pillar of the growth strategy.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

The balance sheet reflects a stable capital structure with equity of ₹8 crore and reserves of ₹620 crore as of March 2026, while total assets grew to ₹1,442 crore from ₹1,295 crore in FY25, indicating healthy asset base expansion. Borrowings remain moderate at ₹354 crore, up slightly from ₹346 crore a year ago, suggesting controlled leverage. The company is investing in capex (₹125 crore planned) to scale capacity, but the debt-to-equity ratio of 0.58 remains manageable, supporting financial flexibility amid growth initiatives.

💰 Cash Flow Statement (₹ Cr)

👥 Shareholding Pattern

Promoter holding has remained stable around 54% over the last four quarters, indicating confidence in long-term prospects. Institutional interest is gradually increasing, with FII holdings rising slightly from 0.19% to 0.21% and DII from 11.49% to 11.53% in recent quarters, though still low in absolute terms. The growing number of shareholders (14,932 in Q1FY27) suggests broadening retail participation. No signs of significant promoter pledging or exit, and dividend payout remains at 100% of face value, reflecting confidence in cash flow generation.

⚖️ Peer Comparison — Castings, Forgings & Fasteners

🔗 Peer Stock Analyses

⚠️ Risk Factors

1. Over-reliance on the automotive sector exposes the company to cyclical demand and regulatory shifts, particularly as EV adoption accelerates and ICE demand may plateau. 2. Margin improvement targets depend on successful execution of capacity expansion and higher-value product mix, which may face execution or pricing pressures. 3. Limited diversification beyond automotive makes the company vulnerable to sector-specific headwinds, despite management’s gradual push into non-automotive segments. 4. Rising input costs and competitive intensity in the casting and forging space could pressure profitability if not fully passed on.

📋 Recent Filings

• 🟡 Board Meeting2026-09-28Alicon Castalloy held its 36th AGM on 28 September 2026 via video conference, adopting audited standalone and consolidated financial statements for FY…
• Announcement2026-09-24Alicon Castalloy Ltd announced the closure of its insider trading window effective October 1, 2026, through October 3, 2026, following the release of …
• 🟡 Board Meeting2026-09-12Alicon Castalloy disclosed the resignation of Director Ajay Patil effective August 13, 2026, due to other commitments, following a prior regulatory fi…
• 🔴 annual report2026-09-04Alicon Castalloy reported a 4% YoY revenue rise to ₹1,784.5 crore in FY25-26, with EBITDA at [amount context mismatch] crore and PAT of ₹34.4 crore, s…
• 🟡 sustainability report2026-09-04Alicon Castalloy Limited submitted its Business Responsibility and Sustainability Reporting (BRSR) for FY 2025-26 to BSE and NSE on September 4, 2026.…
• 🔴 Financial Results2026-08-18Alicon Castalloy reported consolidated revenue growth of 37.7% YoY and 43.6% YoY standalone, driven by strong automotive demand, particularly in comme…
• 🔴 Corporate Action2026-08-17Alicon Castalloy announced a final dividend of Rs 3 per share for FY 2025-26, with a record date set for 21 September 2026 to determine entitlement.
• 🔴 Financial Results2026-08-13Alicon Castalloy reported record Q1 FY27 revenue of **₹578 crores**, up 38% YoY and 17% QoQ, driven by strong domestic automotive demand and aluminum …
• 🔴 Financial Results2026-08-13Alicon Castalloy reported its highest quarterly revenue of ₹579 crore in Q1 FY27, up 37% YoY and 17% QoQ, driven by domestic demand and higher input p…
• 🔴 Corporate Action2026-08-13Alicon Castalloy announced a final dividend of Rs.3 per share (60% of Rs.5 face value) for FY 2025-26, combined with an interim dividend of Rs.2 to to…

🧠 Analyst's Read

Alicon Castalloy is executing a clear growth strategy backed by strong order book visibility and margin improvement trends, but its future performance hinges on successful ramp-up of new capacity and sustained demand in automotive. Investors should monitor execution of the Pune facility, pace of non-automotive diversification, and how quickly EBITDA margins reach the 14-15% target by FY27, as any slowdown could impact valuation momentum.

Based on filing content and financial data. Not a recommendation.