Investment & Precision Castings Ltd

₹ 1,280 -1.39%

01 Sep 1:55 p.m.

About

Incorporated in 1975, Investment & Precision Castings Ltd is engaged in the production of investment castings^[1]

Key Points

Business Overview:^[1]^[2]^[3]
IPCL is an ISO 9002, ISO/TS 16949:2002, OHSAS 18001:2007 & EMS ISO 14001:2004 manufacturer of Lost-Wax in Ferrous, Non-Ferrous, Nickel and Cobalt based alloys, with weights upto 200 Kg. It
supplies fully machined, treated and ready-for-use components. IPCL is an original equipment manufacturer for domestic automobile manufacturers and does manufacturing of vacuum castings which find application across aerospace, defense and medical implants.
Company is also into wind power generation business through its 2 Wind Turbine Generators in Bhavnagar

Website BSE NSE - BE

Market Cap ₹ 1,280 Cr.
Current Price ₹ 1,280
High / Low ₹ 1,369 / 397
Stock P/E 85.7
Book Value ₹ 103
Dividend Yield 0.08 %
ROCE 14.4 %
ROE 12.5 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 96.0% CAGR over last 5 years

Cons

Stock is trading at 12.5 times its book value
Company has a low return on equity of 9.67% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Castings & Forgings

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	46.22	44.86	40.12	39.76	41.05	41.90	39.60	42.51	44.09	45.03	47.36	50.73	53.38
	38.58	37.86	34.66	34.55	34.20	36.35	35.55	36.46	37.69	37.70	39.39	41.52	42.32
Operating Profit	7.64	7.00	5.46	5.21	6.85	5.55	4.05	6.05	6.40	7.33	7.97	9.21	11.06
OPM %	16.53%	15.60%	13.61%	13.10%	16.69%	13.25%	10.23%	14.23%	14.52%	16.28%	16.83%	18.15%	20.72%
	0.56	0.13	0.23	0.19	0.08	0.30	0.19	0.17	0.22	0.44	-0.24	0.28	0.15
Interest	1.79	1.69	1.57	2.07	1.71	1.73	1.66	1.63	1.59	1.44	1.48	1.67	1.72
Depreciation	1.86	1.96	2.00	2.00	2.00	2.04	2.06	2.03	2.02	2.07	2.11	2.32	2.39
Profit before tax	4.55	3.48	2.12	1.33	3.22	2.08	0.52	2.56	3.01	4.26	4.14	5.50	7.10
Tax %	28.35%	27.30%	38.21%	48.12%	29.81%	25.48%	30.77%	26.17%	27.91%	28.87%	32.61%	31.64%	29.86%
	3.26	2.53	1.31	0.70	2.26	1.54	0.37	1.90	2.18	3.03	2.79	3.77	4.99
EPS in Rs	3.26	2.53	1.31	0.70	2.26	1.54	0.37	1.90	2.18	3.03	2.79	3.77	4.99
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	77	85	92	108	119	95	105	132	170	171	165	188	196
	66	72	77	87	99	84	92	119	148	145	142	157	161
Operating Profit	11	13	15	21	20	11	13	13	22	25	23	31	36
OPM %	14%	15%	16%	19%	17%	12%	12%	10%	13%	15%	14%	16%	18%
	1	0	0	0	1	1	0	1	0	1	1	1	1
Interest	4	4	4	4	5	7	6	6	7	7	7	6	6
Depreciation	4	5	5	5	6	7	7	7	7	8	8	9	9
Profit before tax	3	4	6	12	10	-1	1	0	8	11	8	17	21
Tax %	30%	36%	33%	34%	-4%	-35%	25%	25%	28%	32%	28%	30%
	2	3	4	8	10	-1	0	0	6	8	6	12	15
EPS in Rs	2.15	2.86	4.21	7.98	9.98	-0.67	0.48	0.18	5.56	7.80	6.07	11.77	14.58
Dividend Payout %	12%	12%	15%	16%	10%	-7%	130%	69%	9%	6%	4%	4%

Compounded Sales Growth
10 Years:	8%
5 Years:	12%
3 Years:	3%
TTM:	17%

Compounded Profit Growth
10 Years:	16%
5 Years:	96%
3 Years:	30%
TTM:	149%

Stock Price CAGR
10 Years:	30%
5 Years:	51%
3 Years:	81%
1 Year:	177%

Return on Equity
10 Years:	7%
5 Years:	7%
3 Years:	10%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5	5	5	5	5	5	5	5	5	5	5	10
Reserves	44	46	54	62	70	68	68	68	74	81	86	93
	31	32	31	40	57	58	67	65	65	74	64	72
	13	18	16	24	31	30	38	45	58	42	39	42
Total Liabilities	93	101	106	130	164	162	179	182	201	202	195	217
	41	44	51	63	79	82	90	90	89	89	85	101
CWIP	5	5	2	5	6	3	3	0	0	0	1	1
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	46	52	53	62	78	77	86	92	111	113	109	114
Total Assets	93	101	106	130	164	162	179	182	201	202	195	217

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9	9	10	15	12	10	17	13	12	6	19	26
	-6	-7	-5	-20	-22	-6	-14	-4	-6	-7	-4	-24
	-3	-3	-5	5	10	-5	-2	-9	-6	2	-16	-0
Net Cash Flow	-0	-1	0	0	-0	0	1	-0	-1	1	-1	2
Free Cash Flow	3	3	5	-5	-11	4	3	8	5	-2	15	2
CFO/OP	89%	82%	80%	87%	67%	96%	130%	106%	65%	28%	91%	95%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	85	87	70	76	63	68	98	79	77	78	92	76
Inventory Days	575	974	830	993		1,276	874	387	381	364	379	370
Days Payable	298	652	458	665		708	637	280	302	169	213	202
Cash Conversion Cycle	361	409	442	405	63	635	335	186	155	272	258	244
Working Capital Days	28	26	42	29	8	-19	1	-5	-4	4	20	26
ROCE %	9%	11%	12%	16%	12%	4%	5%	5%	10%	12%	10%	14%

Insights

In beta

Mar 2016

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Mar 2021

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Installed Casting Capacity
MTPA

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xxx	x,xxx	x,xxx	x,xxx	xxx	x,xxx	x,xxx	x,xxx
									x.xx	x.xx

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Dispatch Volume
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Renewable Energy Capacity
MW

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Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.91%	51.91%	51.91%	51.97%	51.97%	51.97%	51.97%	51.97%	51.97%	51.97%	51.97%	51.97%
	0.00%	0.00%	0.00%	0.14%	0.24%	0.24%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.37%	0.37%	0.39%	0.39%	0.39%	0.39%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%
	47.72%	47.73%	47.71%	47.51%	47.40%	47.40%	47.42%	48.04%	48.03%	48.03%	48.03%	48.04%
No. of Shareholders	3,317	3,548	3,672	3,700	3,984	4,121	4,058	4,903	4,920	4,701	4,558	4,819

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	50.01%	50.01%	50.07%	50.27%	50.79%	51.50%	51.91%	51.91%	51.97%	51.97%	51.97%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.22%	0.00%	0.00%
	0.00%	0.19%	0.19%	0.20%	0.36%	0.37%	0.37%	0.39%	0.39%	0.00%	0.00%
	49.99%	49.81%	49.75%	49.54%	48.85%	48.13%	47.72%	47.71%	47.42%	48.03%	48.04%
No. of Shareholders	3,568	3,594	4,081	3,797	3,506	3,520	3,385	3,672	4,058	4,558	4,819

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Investment & Precision Castings Ltd

Investment & Precision Castings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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