Simplex Castings Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Simplex Castings Ltd filed with BSE on 06 Jun 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Simplex Castings reported consolidated revenue growth of around 18% to Rs 202 crore in FY26, with EBITDA up 20% to Rs 37.39 crore and PAT up 40.5% to Rs 21.26 crore. Management discussed restarting wagon bogie manufacturing after receiving RDSO approval, along with developments in coke oven doors, power sector equipment, and defence-related castings. The company outlined revenue targets of Rs 300 crore for FY27 and Rs 500 crore for FY28, contingent on execution, potential acquisitions, and EPC orders.
Numbers mentioned
Consolidated revenue: 202 crores (FY26)
p. 3
“Consolidated revenue grew around 18% to 202 crores”
Anvinash Hariharno, page 3 of the filed PDF · View the filing
EBITDA: 37.39 crores (FY26)
p. 3
“EBITDA increased by 20% to 37.39 crores with margin expansion”
Anvinash Hariharno, page 3 of the filed PDF · View the filing
PAT: 21.26 crores (FY26)
p. 3
“the PAT rose strong 40.5% to 21.26 crores”
Anvinash Hariharno, page 3 of the filed PDF · View the filing
Bogie production capacity: 200 to 250 numbers a month
p. 4
“The capacity with the new CAPEX what we have built is to the tune of 200 to 250 numbers a month.”
Ketan Shah, page 4 of the filed PDF · View the filing
Casted bogie realization: 3.5 lakhs per bogie
p. 5
“the present realization for a casted bogie including all the assemblies that we give is 3.5 lakhs.”
Ketan Shah, page 5 of the filed PDF · View the filing
SMS order value for one battery of coke oven doors: 23 crores
p. 12
“See when I took an order from SMS for 23 crores, that is for one battery.”
Ketan Shah, page 12 of the filed PDF · View the filing
Coke oven door segment revenue: 50 to 60 crores
p. 13
“In 200-220 crores, it should be anything like 50 to 60.”
Ketan Shah, page 13 of the filed PDF · View the filing
Pending order book from BHEL: 35-40 crores
p. 13
“I would not be wrong if I say about the present 150 crores pending on the book. Say about 35-40 crores is from BHEL.”
Ketan Shah, page 13 of the filed PDF · View the filing
FY26 CAPEX: roughly around 15 crores (FY26)
p. 8
“‘26, we did roughly around 15 crores.”
Avinash Hariharno, page 8 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue — 300 crores · FY27
stated firmly by Avinash Hariharno
p. 8
“we are targeting 300 crores in FY27, 200 from the existing business and 50 from the casted railway business.”
Avinash Hariharno, page 8 of the filed PDF · View the filing
Revenue — 500 crore · FY28
stated conditionally by Ketan Shah
p. 15
“500 would be possible if the 300 we are able to do this year.”
Ketan Shah, page 15 of the filed PDF · View the filing
EBITDA margin — 8-10%
stated as an aspiration by Ketan Shah
p. 5
“our goal is to be in the same range of 8-10%. Minimum, minimum.”
Ketan Shah, page 5 of the filed PDF · View the filing
CAPEX — 25 · FY27
stated firmly by Avinash Hariharno
p. 8
“Originally, it was 25 and we stick to 25 only.”
Avinash Hariharno, page 8 of the filed PDF · View the filing
Bogie production ramp-up — 200 bogies consistently · from September onwards
stated as an aspiration by Ketan Shah
p. 7
“I am expecting that from September onwards, we should be consistently making this 200 bogies, the capacity that we have generated.”
Ketan Shah, page 7 of the filed PDF · View the filing
Coke oven door segment revenue — 100 crore · next 2-3 years
stated conditionally by Ketan Shah
p. 13
“At least for the next 3-4 years, I am expecting every integrated steel plant, if they are not buying from China, if they are buying from India, the coke oven doors will go from some place.”
Ketan Shah, page 13 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Capacity is 200-250 bogies a month, split between wagon manufacturers and direct railway replacement orders.
Answered by Ketan Shah
Asked by Rupesh: What is the current bogie production capacity and who are the customers?
p. 4
“The capacity with the new CAPEX what we have built is to the tune of 200 to 250 numbers a month.”
Ketan Shah, page 4 of the filed PDF · View the filing
Site conditions at customers delayed dispatches and gas availability issues affected fabrication plants.
Answered by Ketan Shah
Asked by Vishal: Why did Q4 revenue de-grow YoY despite better margins?
p. 6
“Those have been realized in April, May, in the first quarter of this year. But that inventories, we could not liquidate because the site condition of the customer.”
Ketan Shah, page 6 of the filed PDF · View the filing
Management expects orders within about a month and consistent production from September.
Answered by Ketan Shah
Asked by Dhaval Pandya: From when are orders expected from railways following RDSO approval?
p. 7
“We are already in discussion with a couple of customers for giving us orders of about 100 to 200 bogie.”
Ketan Shah, page 7 of the filed PDF · View the filing
Management guided to Rs 300 crore, split between existing business, railways, and power.
Answered by Avinash Hariharno
Asked by Diya Jain: What are the revenue targets for FY27?
p. 8
“we are targeting 300 crores in FY27, 200 from the existing business and 50 from the casted railway business.”
Avinash Hariharno, page 8 of the filed PDF · View the filing
One deal fell through and two others remain open, within the same line of business.
Answered by Avinash Hariharno
Asked by Diya Jain: Are there any acquisitions in discussion?
p. 8
“We were in discussions. One has failed and the other two are currently open.”
Avinash Hariharno, page 8 of the filed PDF · View the filing
Management estimated 150-180 batteries in India with Simplex supplying about 70% of coke oven doors.
Answered by Ketan Shah
Asked by Rupesh Tatiya: What is the market size and Simplex's share in coke oven doors?
p. 12
“we at the moment are controlling, I would be, I am very modestly saying that at least 70% of coke oven doors are being made at Simplex Castings.”
Ketan Shah, page 12 of the filed PDF · View the filing
Management cited execution risk, dependence on acquisitions/EPC orders, and railway order volumes.
Answered by Ketan Shah
Asked by Rupesh Tatiya: What are the risk factors for achieving the FY28 target of Rs 500 crore?
p. 15
“if you fail in an execution, 500 crores booking will also be a problem.”
Ketan Shah, page 15 of the filed PDF · View the filing
Risks flagged
Execution risk in fulfilling order growth
p. 15
“if you fail in an execution, 500 crores booking will also be a problem.”
Ketan Shah, page 15 of the filed PDF · View the filing
Gas supply disruptions affecting fabrication operations
p. 6
“Some part was hit by these availability of gases also, sir. All the fabrication plants have been affected for this because there was no gases or supplies were affected.”
Avinash Hariharno, page 6 of the filed PDF · View the filing
Dependence on customer site conditions delaying dispatches
p. 6
“the site activities also being undertaken by customer also play a role in as far as the dispatches are concerned.”
Ketan Shah, page 6 of the filed PDF · View the filing
High acquisition valuations in India constraining M&A plans
p. 15
“the multiples that people are looking at in India are very very high and it was not possible for us to think on that, so we closed that.”
Ketan Shah, page 15 of the filed PDF · View the filing
Steel sector volatility and skilled labour availability
p. 10
“execution is full of challenges, steel being volatile, gas not being available, everywhere we will be getting the workers from whether it is UP, Bihar, Bengal, Orissa.”
Ketan Shah, page 10 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.