Swastika Castal Ltd has reported a total income of ₹36.19 Cr for the financial year ended March 31, 2026, representing a 19.50% year-on-year increase from ₹30.29 Cr in FY25. While EBITDA grew by 20.59% to ₹6.22 Cr, Profit After Tax (PAT) declined by 24.46% to ₹3.28 Cr from ₹4.34 Cr in the previous year. The company attributed the topline growth to higher business volumes and strong customer relationships, despite pricing impacts being limited.

H2 & FY26 Financial Performance

For the second half of FY26, the company recorded a total income of ₹19.02 Cr, a 9.90% rise from the corresponding period in the previous year. H2 EBITDA increased by 7.35% to ₹3.59 Cr, while PAT for the half-year stood at ₹1.96 Cr, a decrease of 50.38% YoY. The EBITDA margin for H2 FY26 was 18.89%, down 45 basis points from 19.34% in H2 FY25.

The following table summarizes the standalone financial results for FY26:

Operational Highlights

Management noted that FY26 was a year of steady progress, highlighted by the company's listing on the BSE SME platform in July 2025. Swastika Castal specializes in sand, gravity die, and centrifugal casting, serving sectors such as electrical equipment, power transmission, railways, and automotive. The company operates an integrated manufacturing facility in Karjan, Vadodara, which is currently running at approximately 57% capacity utilization.

The investor presentation outlines plans for capacity expansion by the end of FY27 to support future volume growth. During the earnings conference call, Managing Director Mr. Varun Sharda stated that the capital expenditure commissioned in March 2026 is now operational. The company expects benefits to become visible in the near term through improved capacity and business volumes, with a larger financial impact anticipated in the medium term.

Cash Flow and Strategic Inventory

Addressing queries on negative operating cash flow, management explained that the decline was intentional and strategic. Higher working capital was utilized to secure raw material availability and lock in pricing amidst global supply chain uncertainties and geopolitical disruptions. The company made advanced payments to vendors and maintained strategic inventory levels to ensure uninterrupted production and meet customer commitments. Additionally, delays in customer collections during March have since normalized in April and May.

Customer Engagement and Outlook

The company added two new export clients during the year: QAG, an Australian-based multinational, and Trench from Europe. Management noted that existing customers such as Hitachi, ABB, Siemens, GE, and Toshiba have strong order books booked for the next five years. To mitigate rising raw material costs, Swastika Castal has price variation clauses with most customers, allowing for monthly pass-throughs of material and fuel cost changes. The company remains optimistic about FY27, projecting stronger growth compared to FY26 driven by enhanced capacity and sector tailwinds.

Swastika Castal Ltd has announced its audited standalone financial results for the year ended March 31, 2026. The company reported a net profit of ₹328.18 lakh for the fiscal year, compared to ₹434.44 lakh in the previous year. Revenue from operations for FY26 stood at ₹3,535.41 lakh, an increase from ₹3,014.18 lakh in FY25. The board meeting to consider the results was held on May 20, 2026.

Financial Performance

The company's total income for the year ended March 31, 2026, reached ₹3,619.09 lakh. Total expenses for the period were reported at ₹3,163.21 lakh. The profit before tax for the year was ₹455.88 lakh, while the total tax expense amounted to ₹127.70 lakh. For the half-year ended March 31, 2026, the net profit was ₹196.25 lakh on a total income of ₹1,901.95 lakh.

The key financial metrics for the year are summarised below:

Operational Highlights and IPO Utilization

The board meeting also reviewed the utilization of proceeds from the company's Initial Public Offering (IPO). The IPO, consisting of 21,64,000 equity shares at an issue price of ₹65 per share, was listed on the BSE SME on July 28, 2025. The total net proceeds amounted to ₹1,209.68 lakh.

As of March 31, 2026, the company has fully utilized the IPO proceeds across three categories: ₹500.00 lakh for funding capital expenditure for a new project in its subsidiary, ₹550.00 lakh for repayment of borrowings, and ₹356.60 lakh for general corporate purposes.

Balance Sheet and Cash Flow

The company's total assets as of March 31, 2026, stood at ₹4,357.96 lakh, compared to ₹3,122.25 lakh in the previous year. Total equity increased to ₹2,588.30 lakh from ₹1,066.98 lakh, driven by the equity share capital of ₹816.40 lakh post-IPO. Cash and cash equivalents at the end of the year were ₹13.14 lakh. The auditors, O.P. Rathi & Co., issued an unmodified opinion on the financial results.