Steelcast Approves ₹120 Crore Greenfield Foundry Expansion, Declares Interim Dividend
Steelcast Limited approved a ₹120 Crore expansion to add 8,500 Tons capacity to its Greenfield Foundry, to be completed by March 31, 2028. The company also declared a First Interim Dividend of ₹0.45 per share for FY 2026-27, payable by August 28, 2026. Unaudited standalone results for Q1 FY27 show Net Sales of ₹12,481.97 Lakhs.
The capacity addition of 8,500 Tons represents a substantial increase (approximately 30%) of the existing installed capacity and involves a significant investment of ₹120 Crores, which is expected to drive future growth. The declaration of an interim dividend also positively impacts shareholders.
The company is undertaking a significant capacity expansion and has declared an interim dividend, both of which are positive indicators for growth and shareholder returns.
Steelcast Limited's Board of Directors, in their 296th meeting held on July 29, 2026, approved a significant capacity addition by establishing a Greenfield Foundry. This new facility will add 8,500 Tons to the existing installed capacity of 29,000 Tons, with an investment of ₹120 Crores (approximately Rs. 1,200,000,000). The expansion is planned to be completed within two years, by March 31, 2028, and will be financed through internal accruals. The company aims to cater to increasing customer demand, projecting a rise in capacity utilization from the current 63% (based on FY27 projections) to 90% by March 31, 2029.
In addition to the expansion, the Board declared a First Interim Dividend for FY 2026-27 at the rate of ₹0.45 per equity share of ₹1 each (45% of face value). This dividend will be paid on or before August 28, 2026. The Record Date for this dividend has been fixed as August 7, 2026. The Board also considered and approved the Unaudited Standalone Financial Results for the quarter ended June 30, 2026. The financial results indicate a Net Sales/Income from Operations of ₹12,481.97 Lakhs for the quarter ended June 30, 2026, compared to ₹10,668.55 Lakhs for the same period in the previous year. Profit Before Tax stood at ₹3,177.51 Lakhs for the quarter ended June 30, 2026. The meeting commenced at 15:00 Hours and concluded at 16:00 Hours at Efcee Sarovar Premiere, Bhavnagar, Gujarat.
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Steelcast Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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