Order Book (to be executed by FY29)
₹9,100 crore
N/A
Unexecuted order book for new parts; ~₹850 crore utilized so far.
ALICONCASTALLOY
Other
15 Feb 2026
Alicon Castalloy Limited — Q3 FY26
Alicon Castalloy reported Q3 FY26 revenue of ₹430 crore, up 10% YoY, but EBITDA margin contracted to 10.9% (down 200bps QoQ) due to product mix shift, higher employee costs, and one-time charges.
✓ Verified against BSE filing
2-Min Summary
Alicon Castalloy reported Q3 FY26 revenue of ₹430 crore, up 10% YoY, but EBITDA margin contracted to 10.9% (down 200bps QoQ) due to product mix shift, higher employee costs, and one-time charges. PAT was ₹3.3 crore, impacted by a ₹5 crore exceptional item for labor code implementation. Domestic auto demand remained strong (PV +12%, CV +13%, 2W +13%), but global operations were muted due to a UK OEM cyber incident and US CV headwinds. Management guided for Q4 EBITDA margin of 12.5-13% and reiterated an order book of ₹9,100 crore to be executed by FY29, implying an exit revenue run-rate of ~₹3,500 crore. Key risks include delayed ramp-up of the GLR EV project and potential tariff-related disruptions in US exports.
Key Numbers
Domestic PV Segment Growth
12% YoY
+12% YoY
Passenger vehicle business grew 12% YoY, driven by hybrid vehicle cylinder heads.
Domestic CV Segment Growth
13% YoY
+13% YoY
Commercial vehicle business grew 13% YoY, supported by new order wins.
Gross Margin
47.2%
+138bps YoY
Gross margin improved YoY due to favorable product mix and operating leverage.
Management Guidance
Q4 FY26 EBITDA margin target of 12.5-13%
Management expects EBITDA margin to recover to 12.5-13% in Q4 FY26, driven by improved product mix and cost control.
marginsFull-year FY26 EBITDA margin around 12-12.5%
For the full year, EBITDA margin is expected to be approximately 12-12.5%.
marginsFY29 exit revenue run-rate of ~₹3,500 crore
Based on the ₹9,100 crore order book, the company expects an exit revenue run-rate of ~₹3,500 crore by FY29.
revenueCapex of ₹125-130 crore for FY26
Capital expenditure for FY26 is expected to be in the range of ₹125-130 crore, focused on automation and capacity expansion.
capexKey Risks
Global demand weakness and tariff uncertainty
US and UK markets saw degrowth; tariff-related actions have dampened export inquiries. Recovery depends on trade deal outcomes.
high · management_commentaryGLR EV project ramp-up delays
The EXL housing project for a premium German OEM is delayed; full capacity utilization expected only by mid-2026, impacting margins.
medium · analyst_questionOne-time cost overruns and asset impairments
Higher employee costs, asset write-offs, and labor code implementation charges impacted Q3 profitability; full-year impact ~₹10 crore.
medium · analyst_questionDependence on domestic auto cycle
81% revenue from domestic market; any slowdown in Indian auto demand could affect growth, especially given limited non-auto diversification.
medium · data_observationNotable Quotes
The underlying topline performance would have been stronger and comfortably in the double-digit growth range reflecting the resilience of our business and improving momentum in other markets.
Our first target is to cross the 13% and to reach the level of 14%.
We have onboarded a team of German experts with deep technical experience. Their focus is on refining casting practices, improving the yields, enhancing throughput, optimizing capacity utilization and driving cost efficiencies.