Kalyani Cast-TechShare price, financial results, shareholding and management
- Market cap
- ₹747 cr
- Stock P/E
- 43.6peers 28.9
- Book value
- ₹113
- Price to book
- 9.22
- EV / operating profit
- -
- Market cap to sales
- 4.98
- ROCE · FY26
- 30.1%
- ROE · FY26
- 23.6%
- ROE, 3-year average
- 26.2%
- Operating margin · FY26
- 15.0%peers 17.5%
- Sales growth, 3 years
- 33.5%
- Profit growth, 3 years
- 28.8%
- Debt to equity
- 0.01peers 0.34
- Borrowings
- ₹1 cr
- Interest cover
- No interest
- Cash from business / op. profit
- 82%
- Debtor days
- 80
- Pledged
- 0.00%
- Promoter holding
- 59.48%
- Change in promoter holding
- +0.01 pts
- Shareholders
- 2,209
- 52-week high / low
- ₹1,404 / ₹439
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Kalyani Cast-Tech share price chart
Close on 6 Nov 2026 · -0.65% on the day · Vol 3,250
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -10.7%
- 3 months
- +35.8%
- 6 months
- +55.4%
- 1 year
- +102.2%
- Traded a day, 20 days
- ₹1.34 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +8% | +20% |
| 3 years, a year | +34% | +29% |
| Latest half, H2 FY26 | -17% | +24% |
About Kalyani Cast-Tech: business, products and customers
Kalyani Cast-Tech makes steel cargo containers, many of them designed around one customer's load, for logistics and container train companies, and also makes steel castings. It is building a wagon factory and runs a rail cargo terminal in Gujarat. Its shares trade on BSE SME.
Kalyani Cast-Tech began in 2014 as a small steel foundry whose main customer was Indian Railways, and moved into container making in 2021. At its plant in Rewari, Haryana, it builds cargo containers, including dwarf containers and special boxes for steel coils, slabs and sheets, and in the latest year added stainless steel, foldable, corrosion-resistant and Super High Cube containers for carmakers. Buyers named by the company include DP World, CJDARCL, Navkar Corporation, Western Carrier, Mazagon Dock, NTPC and NPCIL.
The business model shapes the numbers. Every container is made to order from steel the company purchases, and the price is quoted ex factory, so revenue rises and falls with steel prices as well as volumes, and the managing director has said that cheaper steel meant lower container prices. Margins are kept in a band rather than set by the market, and with almost no debt most of the operating profit reaches net profit; the cash tied up is mainly money owed by customers.
Read more about the business
The company names no rivals in its own filings and says it avoids the race in standard containers by designing boxes that carry more per trip. On the November 2025 call an analyst raised Braithwaite, a public sector maker of containers and wagons, and the managing director answered that a private company would be more efficient. The annual report calls the industry competitive and open to new entrants.
What is new: a 144-acre campus at Shivlakha in Kutch, Gujarat, where container making began after March 2026, a Gati Shakti cargo terminal run by its subsidiary KMT Engineering that received its first trial train in August 2026, and a wagon factory under construction with a wagon design that RDSO has cleared in principle under a joint development agreement.
From the FY26 annual report, the June 2025 investor presentation, the June 2025 and November 2025 earnings calls and the company's announcement of 23 September 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 34% a year over three years.
- It earns a high return on the money it uses: ROCE 30% in FY26.
- It brings in more cash than it shows as profit: ₹18 cr against ₹17.1 cr in FY26.
- It has little debt for its size: debt to equity 0.01.
To watch
- Wagon factory: railway approval and commercial work in the second half of FY27 (Earnings call transcript, November 2025, p.8 and p.16).
- Ramp-up of container making at the Kutch campus, which began after March 2026 (Annual report FY26, p.59).
- Commercial use of the Gati Shakti terminal run by KMT Engineering after the first trial train on 20 August 2026 (Annual report FY26, p.59).
- Conversion of the promoter group warrants within eighteen months of 23 September 2026 (Announcement, 23 Sep 2026, p.4).
- The promoters' share has come down: 59.48%, from 69.87%.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Kalyani Cast-Tech revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew faster than sales.
Kalyani Cast-Tech half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 49 | 45 | 70.19 | 69.03 | 92.40 | 57.55 |
| Expenses | 41 | 40 | 58.91 | 60.59 | 80.87 | 47.55 |
| Operating profit | 8 | 5 | 11.29 | 8.44 | 11.52 | 10 |
| OPM | 17.0% | 12.0% | 16.1% | 12.2% | 12.5% | 18.0% |
| Interest | 0 | 0 | 0.16 | 0.02 | 0.09 | 0 |
| Depreciation | 0 | 0 | 0.49 | 0.59 | 0.55 | 1 |
| Profit before tax | 8 | 5 | 11.05 | 8.08 | 12.74 | 9.98 |
| Net profit | 6 | 4 | 8.24 | 6.03 | 9.64 | 7.47 |
Kalyani Cast-Tech profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 13 | 11 | 49 | 63 | 94.48 | 139.22 | 149.94 |
| Expenses | 12 | 10 | 47 | 52 | 80.99 | 119.50 | 127.94 |
| Operating profit | 1 | 1 | 2 | 12 | 13.49 | 19.73 | 22 |
| OPM | 7.0% | 8.0% | 4.5% | 19.0% | 14.3% | 14.2% | 15.0% |
| Other income | 0 | 0 | 0 | 0 | 0.64 | 0.66 | 2.14 |
| Interest | 0 | 0 | 0 | 0 | 0.17 | 0.18 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 0.80 | 1.09 | 1 |
| Profit before tax | 0 | 0 | 1 | 11 | 13.15 | 19.12 | 22.72 |
| Tax rate | -25.0% | -44.0% | 0.0% | 27.3% | 27.1% | 25.4% | 24.7% |
| Net profit | 0 | 0 | 1 | 8 | 9.59 | 14.27 | 17.11 |
| EPS ₹ | 0.13 | 0.52 | 2.33 | 16.05 | 16.41 | 19.85 | 23.79 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY23 come rounded to the nearest crore in the source.
A tax rate above 60% or below zero (FY20, FY21) comes from tax charged on a small or negative profit, as reported.
Kalyani Cast-Tech profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 7.0% | 8.0% | 4.5% | 19.0% | 14.3% | 14.2% | 15.0% |
| Tax rate | -25.0% | -44.0% | 0.0% | 27.3% | 27.1% | 25.4% | 24.7% |
| ROCE | · | 0.0% | 10.5% | 84.6% | 35.5% | 30.4% | 30.1% |
| ROE | · | 0.0% | 18.2% | 80.0% | 30.0% | 25.0% | 23.6% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Kalyani Cast-Tech debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. It spent more on assets and investments than the business brought in, and drew on its cash. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Kalyani Cast-Tech balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 5 | 5 | 5 | 5 | 7 | 7 | 7 |
| Reserves | 0 | 0 | 1 | 9 | 43 | 57 | 74 |
| Net worth | 5 | 5 | 6 | 14 | 50 | 64 | 81 |
| Borrowings | 5 | 5 | 3 | 3 | 8 | 5 | 1 |
| Other liabilities | 5 | 4 | 7 | 7 | 7 | 6 | 17 |
| Total liabilities | 15 | 14 | 16 | 24 | 65 | 75 | 99 |
| Fixed assets | 4 | 4 | 6 | 5 | 7 | 8 | 23 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 21 |
| Investments | 0 | 0 | 0 | 0 | 15 | 15 | 2 |
| Other assets | 11 | 10 | 10 | 19 | 43 | 52 | 53 |
Kalyani Cast-Tech cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 1 | 0 | 6 | 4 | -10 | 8 | 18 |
| Cash from investing | -1 | 0 | -2 | -1 | -17 | -4 | -20 |
| Cash from financing | 0 | 0 | -3 | 1 | 31 | -3 | -5 |
| Net cash flow | 0 | 0 | 1 | 4 | 4 | 1 | -7 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 89 | 76 | 45 | 9 | 62 | 69 | 80 |
| Inventory days | 231 | 265 | 20 | 75 | 71 | 33 | 17 |
| Days payable | 184 | 138 | 36 | 22 | 17 | 13 | 13 |
| Cash conversion cycle | 135 | 203 | 29 | 63 | 117 | 89 | 85 |
| Working capital days | 80 | 100 | 10 | 28 | 71 | 72 | 74 |
Kalyani Cast-Tech peers and competitors
Listed SME companies in the same industryBy sales, Kalyani Cast-Tech is number 15 of the 55 listed SME companies in industrial manufacturing.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Patil Automation | 810 | 42.6 | 167 | 19 | 15.0% | 0.15 |
| Adisoft Technologies | 493 | 21.5 | 166 | 22.9 | 18.0% | 0.30 |
| Energy Mission Machineries (India) | 135 | 11.3 | 161 | 11.9 | 14.0% | 0.31 |
| Merritronix | 796 | 49.8 | 156 | 16 | 17.0% | 0.81 |
| Prizor Viztech | 1,421 | 67.7 | 153 | 21 | 22.0% | 0.57 |
| Kalyani Cast-Tech | 747 | 43.6 | 150 | 17.1 | 15.0% | 0.01 |
| Purple Wave Infocom | 421 | 32.4 | 146 | 13 | 14.0% | 0.30 |
| Tipco Engineering India | 638 | 25.5 | 145 | 25 | 26.0% | 0.41 |
| Emkay Tools | 1,232 | 21.0 | 144 | 58.7 | 55.7% | 0.00 |
| IC Electricals Company | 203 | 14.5 | 143 | 14 | 19.0% | 1.19 |
| Captain Technocast | 546 | 42.0 | 130 | 13 | 13.0% | 0.38 |
| Median of the 10 others | 592 | 29 | 150 | 17.5 | 17.5% | 0.34 |
Kalyani Cast-Tech shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Kalyani Cast-Tech shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 24 | Dec 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 69.87% | 65.77% | 63.32% | 63.31% | 59.47% | 59.47% | 59.47% | 59.48% |
| Foreign investors (FIIs) | 0.01% | 0.03% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | - |
| Indian institutions (DIIs) | 0.00% | 0.68% | 0.68% | 0.81% | 0.43% | 0.47% | 0.16% | - |
| Number of shareholders | 1,685 | 2,031 | 2,065 | 1,981 | 2,094 | 2,070 | 1,971 | 2,209 |
Kalyani Cast-Tech study: the business from its own documents
Read from 7 of the company's own documentsKalyani Cast-Tech key facts from the filings
Each figure with the document it comes from
- Containers made
- About 15,000
- Containers made since the company started building them in 2021.Earnings call transcript, November 2025, p.3
- Rewari capacity
- 6,000 a year
- Container capacity at the existing plant; the Kutch plant is to add 10,000 a year on top.Earnings call transcript, June 2025, p.16; Earnings call transcript, November 2025, p.13
- Orders won for FY26
- ₹140 cr
- Orders received for the year by mid-November 2025, of which ₹92.6 cr had been delivered by September.Earnings call transcript, November 2025, p.4 and p.5
- Service income
- ₹8.7 cr
- Revenue from services in FY26, up from ₹0.16 cr; sales of goods were all in India, with no exports.Annual report FY26, p.97
- Unbilled revenue
- ₹5.0 cr
- Revenue booked in FY26 but not yet invoiced, carried inside trade receivables of ₹33.0 cr.Annual report FY26, p.97
Show 5 more facts
- Kutch campus
- 144 acres
- Site at Shivlakha, Gujarat; container making there began after the FY26 year end.Annual report FY26, p.59
- First trial train
- 20 Aug 2026
- Containers made at Rewari reached the new Gati Shakti terminal in Kachchh, run by subsidiary KMT Engineering.Annual report FY26, p.59
- Money in the subsidiary
- ₹22.9 cr
- Shares of ₹10.5 cr plus a loan of ₹12.4 cr given to KMT Engineering by March 2026, against ₹0.51 cr a year earlier.Annual report FY26, p.95 and p.96; our arithmetic
- Bank borrowings
- ₹0.58 cr
- Cash credit at March 2026, down from ₹5.3 cr a year earlier; there are no term loans.Annual report FY26, p.94
- Warrants to promoter group
- ₹18.8 cr
- Warrants allotted in September 2026 at ₹582 each, almost all to the promoter group; a quarter of the money is paid, the rest due on conversion within eighteen months.Announcement, 23 Sep 2026, p.1, p.4 and p.5
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company has not given figures for FY27; on the November 2025 call the managing director declined, saying the outlook would be discussed later. Its dated plans: the wagon factory at Kutch, with a first phase under construction and about seventy to eighty machines to install before applying for the railway approval it needs, is to start commercial work in the second half of FY27, and the managing director put the wagon investment at ₹170 cr to ₹200 cr, funded by debt and internal money. The company says it aims to keep net margin in a band of about ten to twelve per cent.
| What management said | When | What happened |
|---|---|---|
| Revenue growth of 30% to 40% in FY26 | June 2025 call | 8.7%, to ₹150.0 cr |
| Net margin of 9% to 12% | June 2025 call | 11.4% in FY26 |
| New container capacity ready by 31 March 2026 | November 2025 call | Container making at Kutch began after the year end |
| Gati Shakti terminal commissioned by 31 March 2026 | November 2025 call | First trial train arrived on 20 August 2026 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company earns its money building steel containers to order, many of them designed around a customer's cargo, and keeps a steady margin with almost no debt.
Its weak spots are that sales depend on winning fresh orders each year, and that a large wagon and terminal project is now taking money before it earns any.
AverageCan it set its own prices?Prices follow steel, so the company passes costs on but cannot widen its margin much; it has held its stated margin band.
AverageHow strong is it against rivals?Its own container designs and railway know-how set it apart, but container making is open to many players.
AverageWho are its customers?Logistics firms, container train and port operators and public sector buyers, with new names added each year; the company does not disclose how much the largest ones take.
WatchDoes it need a lot of money?Making containers needs little money, but the wagon factory, terminal and new plant need far more than the company has spent before.
AverageCan it keep finding new work?It keeps adding new container types and customers, but work comes order by order with no long contracts, and wagons are not yet approved for production.
AverageDo good and bad years swing a lot?Yearly profit has risen steadily since the container business began, but sales from one half year to the next move with the orders in hand.
Who runs Kalyani Cast-Tech?
Promoters, directors and officers; tap a name for the background
NKNaresh KumarPromoter, Chairman and Managing Director · holds 27.47%
M.Tech in mechanical engineering from IIT Madras; served Indian Railways for 17 years as a Class A officer and worked on running double-stack and dwarf container trains; the annual report gives over 35 years in manufacturing and industry. Leads design and development of the containers.
Investor presentation, June 2025, p.4; Annual report FY26, p.56JAJaved AslamPromoter · holds 12.88%
Civil engineer with a real estate business in India and abroad; advises the company on strategic issues.
Investor presentation, June 2025, p.4; Annual report FY26, p.104JPJai Prakash BanganiPromoter group, as named in the investor presentation
Runs an NBFC based in Kolkata and advises the company on strategy and financial matters.
Investor presentation, June 2025, p.4NBNathmal BanganiPromoter · holds 1.74%
Listed among the promoter shareholders; the annual report gives no background.
Annual report FY26, p.104KKKamala Kumari JainPromoter · holds 1.29%
Listed among the promoter shareholders; the annual report gives no background.
Annual report FY26, p.104MBMuskan BanganiPromoter · holds 0.87%
Listed among the promoter shareholders; the annual report gives no background.
Annual report FY26, p.104JKJayashree KumarWhole-Time Director, promoter group · holds 3.84%
Business graduate with expertise in management and administration, on the board since April 2022 and in charge of day-to-day operations; the annual report records Jayashree Kumar as the wife of the managing director. Up for reappointment for five years from April 2027.
Annual report FY26, p.22 and p.57; Announcement, 23 Sep 2026, p.5DKDevender KumarNon-Executive Director, promoter group
Non-executive director who, the annual report says, advises the board on strategy and risk.
Annual report FY26, p.4 and p.57; Announcement, 23 Sep 2026, p.5SNSanjeev NegiIndependent Director
Independent director active on board committees.
Annual report FY26, p.4 and p.57AKAmit KumarChief Financial Officer
Named as chief financial officer.
Annual report FY26, p.4Kalyani Cast-Tech latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹57.6 cr (-17%), net profit ₹7.5 cr (+24%) on H2 FY25.
- Shareholding, 30 June 2026: promoters unchanged at 59.48%.
Kalyani Cast-Tech announcements
5 on record, latest first; each opens the filing on the exchange
Kalyani Cast-Tech annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- 30 Nov 2025 ↗read
- 30 June 2025 ↗read
- 30 June 2024 ↗read
- 30 June 2025 ↗read
Kalyani Cast-Tech share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Kalyani Cast-Tech's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (71,80,500 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Kalyani Cast-Tech
What does Kalyani Cast-Tech do?
Kalyani Cast-Tech makes steel cargo containers, many of them designed around one customer's load, for logistics and container train companies, and also makes steel castings. It is building a wagon factory and runs a rail cargo terminal in Gujarat. Its shares trade on BSE SME.
What is the share price of Kalyani Cast-Tech?
₹1,040 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Kalyani Cast-Tech?
₹747 cr at the close on 6 Nov 2026, on 71,80,500 shares.
What is the P/E of Kalyani Cast-Tech?
43.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Kalyani Cast-Tech's revenue and profit?
Revenue ₹150 cr and profit after tax ₹17 cr in FY26.
Who are the promoters of Kalyani Cast-Tech?
Naresh Kumar, Javed Aslam, Jai Prakash Bangani, Nathmal Bangani, Kamala Kumari Jain, Muskan Bangani, Jayashree Kumar, Devender Kumar; promoters held 59.48% at 30 June 2026.
What is Kalyani Cast-Tech's website?
kalyanicasttech.com
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Other listed SME companies in industrial manufacturing, the closest in size first, each read from its own documents.
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Built from 3 earnings call transcripts, 3 annual reports, 1 investor presentation, 5 exchange announcements, 8 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.