Alicon Cast. Q1 FY27 Earnings Call — Analysis (NSE: ALICON)
Alicon crossed ₹500 Cr in quarterly sales for the first time, with total income of ₹579 Cr (+37% YoY), but input-cost pressure kept Q1FY27 EBITDA margin at 9.5%; management raised FY27 underlying growth guidance to 12–15% and detailed a new Shikrapur capacity plan.
Result quality: stable — Steady quarter. Management sentiment: neutral.
The take
Q1FY27 Total income ₹579 Cr ( +37% YoY ) .
Results
Q1FY27 total income was ₹579 Cr (+37% YoY, +17% QoQ); EBITDA was ₹55 Cr at a 9.5% margin; PBT was ₹18 Cr (+45% YoY) and PAT was ₹12 Cr (+23% YoY).
Financial highlights
| Metric | Value | Change | Basis |
|---|---|---|---|
| Total income | ₹579 Cr | +37% | yoy · Q1FY27 · also +17% qoq |
| EBITDA | ₹55 Cr | +na | none · Q1FY27 · quarterly EBITDA |
| EBITDA margin | 9.5% | −vs 11.4% prior year | yoy · Q1FY27 · adjusted for aluminium impact about 11.4% in Q1FY27 |
| Profit before tax | ₹18 Cr | +45% | yoy · Q1FY27 |
| Profit after tax | ₹12 Cr | +23% | yoy · Q1FY27 |
| Consolidated material-neutralised volume growth | 17.5% | +na | none · Q1FY27 · standalone material-neutralised growth 22% |
| Commercial vehicle segment growth | 26% | +na | yoy · Q1FY27 · yoy CV growth stated by management |
| Executable order book | ₹8,450 Cr | +na | point_in_time · FY2026-FY2031 · as on 30 Jun 2026; excludes pre-FY26 ongoing programs |
| Q1FY27 capital expenditure | ₹40 Cr | +na | none · Q1FY27 · quarterly capex |
| FY27 capital expenditure plan | ₹150 Cr | +na | none · FY27 · includes about ₹70 Cr for new Shikrapur facility |
Guidance
Management guided FY27 material-neutralised consolidated top-line growth of 12–15% and at least 1% EBITDA margin improvement, while the new Shikrapur facility is expected to generate about ₹500 Cr of annual revenue over four to five years.
Key themes
Reset, Refocus, Rebuild; capacity-led profitable growth
Operational commentary
- New Shikrapur leased facility announced: 1.36 lakh sq ft, about ₹125 Cr investment, GDC/LPDC/machining, possession on 1 Sep 2026, SOP targeted by March 2027, and an expected ₹500 Cr annual revenue potential over four to five years; every business planned for this facility already has committed orders.
- Order book strengthened: Q1 acquired automotive and non-automotive businesses with more than ₹450 Cr potential over five years; entry into two large Indian PV/CV OEMs adds about ₹850 Cr visibility over five years with orders already booked.
- Capacity utilisation is above 90% and close to 100%; management is reallocating capacity from lower-value 2W work to higher-value PV/CV and industrial products.
Research and educational content only. Not investment advice.