Nelcast Limited announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results at their meeting held on May 18, 2026. The company reported a significant improvement in annual profitability, driven by higher operational income, better product mix, and efficient cost management. The statutory auditors, M/s. K. Nagaraju & Associates, Chartered Accountants, issued the audit report with an unmodified opinion on both standalone and consolidated financial statements. Subsequently, pursuant to Regulations 30 and 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Nelcast informed exchanges that the audio recording of its analyst call held on May 19, 2026, to discuss the financial results for the quarter and year ended March 31, 2026, is available on the company's website. Additionally, the company has published the audited financial results in newspapers, including the Financial Express and Andhra Prabha, on May 19, 2026, as required under Regulation 47 of the SEBI LODR Regulations.

Financial Performance

For the full year ended March 31, 2026, Nelcast reported consolidated revenue from operations of ₹1,328.40 Cr, up 5.8% from ₹1,251.70 Cr in the prior year. Total income for the year reached ₹1,342.40 Cr. Consolidated PAT grew 29.9% YoY to ₹48.40 Cr from ₹37.30 Cr. Basic and diluted EPS for the year stood at ₹5.57, up from ₹4.29 in the previous year. In Q4FY26, consolidated revenue grew 11.0% YoY to ₹371.20 Cr, while PAT rose 12.7% YoY to ₹15.30 Cr. The profit before tax for the quarter was ₹2062.82 lakh.

The table below summarises the key consolidated Profit & Loss metrics:

Operational Metrics and Expenses

The company's total consolidated expenses for the year amounted to ₹127743.43 lakh. Key cost components included cost of materials consumed at ₹57668.04 lakh and other expenses at ₹40799.87 lakh. Finance costs for the year were ₹3252.98 lakh, while employee benefits expense stood at ₹8977.08 lakh. Depreciation and amortisation expense for the year was ₹2699.79 lakh. The company operates in a single primary business segment, namely Iron Castings. The consolidated results include the results of its subsidiary, NC Energy Limited, which has not yet commenced commercial operations.

Segment and Export Performance

Nelcast's revenue mix shifted meaningfully in FY26, with M&HCV contribution rising to 42% from 37% in FY25, and Tractors growing to 24% from 23%. Export revenue declined to ₹384.90 Cr in FY26 from ₹445.20 Cr in FY25, impacted by a slowdown in the U.S. economy amid geo-political headwinds, though Q4FY26 saw sequential improvement led by pre-buying ahead of emission-related changes. Nelcast's share from Tractors grew to 24.2% from 22.6% in FY25, while its share from M&HCV grew to 41.9% from 36.8% in FY25.

The sector-wise revenue breakdown for FY25 and FY26 is presented below:

Balance Sheet and Key Ratios

The consolidated balance sheet as of March 31, 2026, showed total assets at ₹1,198.70 Cr. Total equity stood at ₹599.40 Cr, up 7.9% YoY from ₹552.90 Cr. Net debt declined 20.3% YoY to ₹172.40 Cr from ₹216.20 Cr, driven by a reduction in term loans to ₹68.60 Cr from ₹107.90 Cr. Cash and cash equivalents at year-end were ₹84.80 Cr. Return on equity (ROE) improved to 8.1% from 6.7% in FY25, while ROCE rose to 10.8% from 9.0%.

Dividend, Book Closure, and AGM Details

The Board of Directors has recommended a dividend of 35%, translating to ₹0.70 per share of ₹2 paid-up value for the financial year 2025-26, subject to shareholder approval at the ensuing Annual General Meeting. If approved, the dividend will be paid within 30 days from the date of declaration at the AGM. The 44th AGM is scheduled to be held on July 27, 2026, via Video Conferencing. The Register of Members and Share Transfer Books will remain closed from July 21, 2026, to July 27, 2026 (both days inclusive), for the purpose of the AGM and dividend determination. The record date for the dividend has been set as July 20, 2026.

Analyst Call and Investor Communication

In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Nelcast has made the audio recording of its analyst call held on May 19, 2026 available on its website. The call was convened to discuss the financial results for the quarter and year ended March 31, 2026, with fund managers, analysts, and investors. The recording can be accessed at https://nelcast.com/investors/analyst-calls/audio_19052026.mp3 .

Strategic Outlook

Nelcast's investor presentation highlighted continued focus on new product development, ramp-up of the Pedapariya plant, and operational efficiency as key growth drivers. The company has an installed capacity of 160,000 Metric Tons per Year, with the potential to expand by a further 50,000 MT within existing plants with minimal investment. About 60% of power requirements are met through renewable sources, and a 1 MW in-house solar power plant has been installed at the Pedapariya plant. The company has received an investment grade rating from ICRA — A1 for short term and A for long term — on the back of adequate liquidity and strong OEM relationships. Domestic demand across M&HCV and Tractor segments is expected to remain healthy, while exports are anticipated to gradually recover as customer schedules normalise.

Nelcast Limited's Board of Directors, at their meeting held on 18th May 2026, approved key changes to the company's board composition under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The decisions encompass the re-appointment of an Independent Director, a retirement by rotation reappointment, and the retirement of a long-serving director.

Re-appointment of Mr. R. Sridharan as Non-Executive Independent Director

The board approved the re-appointment of Mr. R. Sridharan (DIN: 00868787) as Non-Executive Independent Director for a second term of 5 consecutive years, as recommended by the Nomination and Remuneration Committee. His current term expires on 22nd May 2027, and the new term will run from 23rd May 2027 to 22nd May 2032. The re-appointment is not liable to retire by rotation during the said tenure and remains subject to shareholder approval at the ensuing Annual General Meeting.

The following table summarises the key details of Mr. R. Sridharan's re-appointment:

Profile of Mr. R. Sridharan

Mr. R. Sridharan, aged about 75 years, is a graduate from Madras University. He joined State Bank of India (SBI) as a Probationary Officer in 1972 and held a variety of critical and challenging assignments in the bank, both in India and abroad, over a 39-year career. He served as the Managing Director & Group Executive (Associates & Subsidiaries) of SBI, heading the Business Group controlling 6 Subsidiary Banks. He also served as the Managing Director of CCIL and its wholly owned subsidiary Clearcorp Dealing Systems India Limited (Clearcorp), which acts as the central counterparty for secondary market transactions in Government securities, money market, foreign exchange, and derivative transactions in the over-the-counter markets in India. Additionally, he was a whole-time Director of Legal Entity Identifier of India Limited (LEIL), authorised by the Reserve Bank of India to issue Legal Entity Identifiers (LEIs) in India.

Mr. A. Balasubramanian — Retirement by Rotation and Reappointment

Mr. A. Balasubramanian (DIN: 00490921) is due to retire by rotation at the ensuing Annual General Meeting and, being eligible, has offered himself for reappointment as a Director liable to retire by rotation. His reappointment is scheduled to be considered at the Annual General Meeting on 27th July 2026, subject to shareholder approval.

Mr. A. Balasubramanian, aged about 77 years, holds a Bachelor of Science degree and is a Chartered Accountant. He brings approximately 45 years of experience in banking, finance, and management. He worked in Punjab National Bank for about 30 years at various capacities, retiring as Chief General Manager, and earlier worked in Tata Group of Companies for about 4 years.

Retirement of Mr. D. Sesh Reddy

Mr. D. Sesh Reddy (DIN: 00520448), who was due to retire by rotation at the ensuing Annual General Meeting pursuant to Section 152 of the Companies Act, 2013, has expressed his unwillingness to seek reappointment. He will accordingly retire at the conclusion of the ensuing Annual General Meeting. The Board has recorded its profound appreciation for the significant contributions and stewardship provided by Mr. D. Sesh Reddy during his tenure as a member of the Board.

All disclosures have been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. The brief profiles of the directors have been enclosed as Annexure A in the regulatory filing.