Investment & Precision Castings Limited – Summary Report

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1. Company snapshot

- Name: Investment & Precision Castings Limited (IPCL)

- Incorporation: 1975

- Headquarters: Bhavnagar, Gujarat, India (stockanalysis.com)

- Business: Precision investment castings (lost‑wax process) in ferrous and non‑ferrous alloys; small wind power generation portfolio (stockanalysis.com)

- Listed on:

- NSE: INVPRECQ (EQ segment) (nsearchives.nseindia.com)

- BSE: 504786 (Auto Ancillaries – Castings/Forgings) (moneycontrol.com)

- Face value: ₹10 per share (nsearchives.nseindia.com)

- Scale: ~₹1,880 crore revenue (FY26, consolidated), ~₹118 crore net profit (FY26) (stockanalysis.com)

> Note: Share price and market cap move daily; for live data please refer to NSE/BSE or your broker. Figures below are based on latest published/compiled information as of late June–early July 2026.

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2. Business overview

Core segment – Investment castings (stockanalysis.com)

- Manufactures complex, high‑precision investment castings using lost‑wax process in:

- Carbon and alloy steels

- Stainless and duplex steels

- Nickel, cobalt and other special alloys

- Supplies fully machined, heat‑treated, ready‑to‑assemble components.

- Key end‑use industries:

- Automotive & auto ancillaries: transmission and engine parts, clutch components, turbocharger parts.

- Aerospace & defence: gimbal boxes, structural castings, components for aircraft and satellite launch vehicles, defence‑grade superalloy turbine parts.

- Power, pumps & valves, general engineering, medical implants, railways, process industry equipment, etc.

Power generation segment

- Operates two wind turbine generators in Gujarat; a small but recurring revenue stream within overall business. (indiainfoline.com)

Strategic direction

- Positioning as a high‑end, technology‑driven casting supplier with capabilities in vacuum castings and defence/aerospace alloys. (ipcl.in)

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3. Recent financial performance

3.1 Full‑year financials (Standalone – from Board’s Report)

(All figures approx., standalone, ₹ in crore) (indiainfoline.com)

| Metric | FY24 | FY25 | Comment |

|---------------------------|--------------:|--------------:|---------|

| Total Income | ~172.1 | ~165.8 | Revenue dipped ~3.6% YoY in FY25. |

| Profit After Tax (PAT) | ~7.79 | ~6.06 | PAT down due to lower revenue and higher costs. |

| PBT (derived from report) | ~11.47 | ~8.38 | Margin compression vs FY24. |

Management commentary (FY25 report) highlights: muted topline, but continued R&D/product development; no change in core business; wind turbines operating satisfactorily. (indiainfoline.com)

3.2 Latest full‑year / TTM snapshot (Consolidated)

Based on S&P Global data compiled for FY26 (likely consolidated, latest available): (stockanalysis.com)

- Revenue FY26: ~₹1,880 crore (up ~14% vs previous year).

- Net profit FY26: ~₹118 crore (up ~94% YoY).

This indicates a strong earnings recovery after a softer FY25 standalone performance, driven by both volume/mix improvements and operating leverage.

3.3 Recent quarterly trends

From recent quarterly results (consolidated; all figures approx., ₹ in crore): (livemint.com)

- Q3 FY26 (quarter ended Dec 2025):

- Revenue: ₹47.36 cr (QoQ +5.2%; YoY +19.6%)

- Net profit: ₹2.79 cr (YoY sharply higher from low base; QoQ –8.0%)

- Q4 FY26 (quarter ended Mar 2026 – INDmoney compilation):

- Revenue: ₹51.45 cr (YoY +20.6%; QoQ +8.0%)

- Net profit: ₹3.77 cr (YoY +98.4%; QoQ +35.1%)

Overall, revenue growth has resumed with improving profitability over the last few quarters.

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4. Valuation & return metrics (illustrative snapshot)

Based on public data around early July 2026 (Screener & other sources): (screener.in)

- Market capitalisation: ~₹800–820 crore (varies with price).

- Trailing P/E: ~65–70x.

- Book value per share: ~₹103.

- P/BV: roughly 7–8x at recent prices.

- ROE: ~12–13%.

- ROCE: ~14–15%.

- Dividend: modest; FY25 Board recommended 5% (₹0.50 per share post‑bonus) (indiainfoline.com)

> These are indicative metrics for illustration only (not live). For actual decision‑making, updated ratios from NSE/BSE or a data provider should be checked on the same day.

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5. Capital structure & corporate actions

- Equity capital: Authorised ₹10.5 cr; paid‑up ₹10.0 cr (pre‑bonus; 1:1 bonus approved and issued in June 2025). (thecompanycheck.com)

- Bonus issue (1:1):

- Approved by Board on 22 May 2025 and by shareholders on 13 June 2025.

- Record date: 27 June 2025.

- 50 lakh equity shares of ₹10 each issued as bonus; shares rank pari‑passu with existing equity. (indiainfoline.com)

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6. Key strengths (analytical points – for information only)

1. Niche capabilities in complex investment castings

- Long operating history since 1975 with technical collaborations.

- Ability to produce thin‑walled, pressure‑tight, high‑precision castings in special alloys and vacuum castings – an entry barrier for new players. (ipcl.in)

2. Diversified end‑markets

- Presence across automotive, power, aerospace, defence, medical implants, and industrial equipment reduces dependence on any single customer/segment. (stockanalysis.com)

3. Defence/aerospace opportunity

- Recently secured a significant order from DRDO/GTRE for critical superalloy turbine castings, validating its capability in defence‑grade alloys and potentially opening more opportunities in defence indigenisation. (indiandefensenews.in)

4. Improving earnings trajectory

- After a soft FY25, latest FY26/TTM numbers show strong growth in both revenue and profitability. (stockanalysis.com)

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7. Key risks & monitorables (for information only)

1. Cyclicality and customer concentration

- Demand from auto, capital goods, and industrial customers can be cyclical; large OEM concentration, if any, could impact earnings in downturns.

2. High valuation multiples

- Stock trades at a relatively high P/E and P/BV compared to many traditional manufacturing peers; any earnings disappointment or sector derating can impact share price disproportionately. (screener.in)

3. Raw material and energy cost volatility

- Steel/special alloy and power costs significantly influence margins; volatility or supply constraints can affect profitability.

4. Execution and technology risk in defence/aerospace

- High technical requirements, long qualification cycles, and strict quality norms mean that delays or quality issues in high‑end orders (e.g., DRDO) could impact reputation and margins. (indiandefensenews.in)

5. Small‑cap liquidity & governance

- As a smaller listed company, trading volumes and free‑float liquidity are lower than large caps; also requires continuous monitoring of disclosures, related‑party transactions, and capital allocation (including further expansion capex, incentives to subsidiary IPCL Vacuum Castings, etc.). (indiainfoline.com)

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8. Recent notable developments

- Major DRDO/GTRE defence order – positions IPCL as a credible domestic supplier of superalloy turbine castings. (indiandefensenews.in)

- Bonus issue 1:1 in 2025 – expanded equity base while signalling management confidence. (indiainfoline.com)

- NSE listing (symbol INVPRECQ) – provides better visibility and liquidity versus earlier BSE‑only trading. (nsearchives.nseindia.com)

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9. Important note

The above is a factual, high‑level summary based on publicly available information and is not investment advice or a recommendation to buy/sell/hold the stock. Any investment decision should be based on your risk profile, investment horizon, and detailed independent analysis (including latest financials, valuations, and disclosures on NSE/BSE).

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