Foseco India nine-month profit rises to Rs 110 crore in 2026

Foseco India Limited reported consolidated net profit of Rs 110.0748 crore for the nine months ended 30 September 2026, up from Rs 59.6874 crore a year earlier, as Foseco Crucible (India) Limited contributed Rs 139.2053 crore of revenue and Rs 23.1198 crore of profit after tax during the period.

What did Foseco India report for the nine months ended September 2026?

Foseco India reported revenue from operations of Rs 685.3821 crore and consolidated net profit of Rs 110.0748 crore for the nine months ended 30 September 2026. Total income, including Rs 19.5790 crore of other income, was Rs 704.9611 crore, while total expenses were Rs 560.3484 crore and profit before tax was Rs 146.7764 crore.

Net profit rose from Rs 59.6874 crore in the nine months ended 30 September 2025, while revenue from operations increased from Rs 456.4825 crore. The filing says, however, that the 2025 comparative nine-month figures represent standalone results of the parent company, while the 2026 figures include the subsidiary acquired in the previous year. The increase is therefore not a like-for-like consolidated comparison.

Foseco India’s September 2026 quarter generated revenue from operations of Rs 252.0958 crore and net profit of Rs 40.1881 crore. This compared with Rs 231.4065 crore of revenue and Rs 36.3998 crore of profit in the June 2026 quarter, while the September 2025 quarter had revenue of Rs 150.7157 crore and profit of Rs 16.4851 crore. Basic and diluted earnings per share were Rs 49.30 in the September 2026 quarter, against Rs 44.74 in June 2026.

How much did FCIL add to Foseco India’s results?

Foseco Crucible (India) Limited, referred to as FCIL, reported revenue of Rs 139.2053 crore and profit after tax of Rs 23.1198 crore for the period from 1 January 2026 to 30 September 2026. Its total comprehensive income was Rs 23.6360 crore over those nine months, according to financial results reviewed by its other auditors.

FCIL’s nine-month revenue equalled about one-fifth of Foseco India’s Rs 685.3821 crore consolidated revenue from operations. Its profit after tax was included in the group’s Rs 110.0748 crore net profit, although the consolidated statement allocated Rs 102.1566 crore of nine-month profit to owners of the parent and Rs 7.9182 crore to non-controlling interests.

For the quarter ended 30 September 2026, FCIL recorded revenue of Rs 53.1754 crore, profit after tax of Rs 14.2236 crore and total comprehensive income of Rs 14.1753 crore. The consolidated auditor’s report identifies FCIL as Foseco India’s subsidiary and states that the subsidiary’s interim results were reviewed by other auditors, whose conclusion was unmodified.

Why are the year-on-year figures not directly comparable?

The year-on-year consolidated comparison is limited because the nine months ended 30 September 2025 contain only Foseco India’s standalone parent-company figures. The 2026 period includes FCIL after the acquisition completed in the previous year, which also means the group’s cost base now includes the subsidiary’s operations.

This change appears in several expense lines. Employee benefit expense was Rs 82.3671 crore in the nine months ended September 2026, compared with Rs 41.4500 crore a year earlier; depreciation and amortisation rose to Rs 25.1552 crore from Rs 7.2793 crore. Other expenses increased to Rs 130.4710 crore from Rs 84.7575 crore, alongside the increase in reported revenue.

Foseco India recorded exceptional income of Rs 2.1637 crore in the nine-month period. Management said it reassessed FCIL’s liability for gratuity and compensated absences after additional clarifications issued by the Ministry of Labour and Employment, reversing a provision of that amount during the March 2026 quarter. In the year ended 31 December 2025, the group had recognised an additional Rs 2.7773 crore provision related to the labour codes at its subsidiary.

What changed in FCIL acquisition accounting?

Foseco India increased goodwill arising from the FCIL acquisition to Rs 409.5675 crore from the provisional Rs 394.7142 crore following a reassessment of assets and liabilities. The group said the adjustment was made retrospectively under Indian Accounting Standard 103, Business Combinations, and that the permissible measurement period ends on 11 November 2026.

Purchase consideration remained Rs 638.0035 crore, while the fair value of non-controlling interest was restated to Rs 76.1452 crore from Rs 81.0964 crore. The restated fair value of acquired assets was Rs 233.6907 crore, down from Rs 258.9265 crore, and deferred tax on fair-value adjustments was Rs 56.0458 crore, compared with Rs 62.7066 crore provisionally.

The retrospective adjustments to the 31 December 2025 consolidated results included a Rs 22.8014 crore decrease in property, plant and equipment, a Rs 1.5555 crore decrease in other current assets and a Rs 0.8789 crore decrease in inventories. Trade payables increased by Rs 0.1909 crore and other current liabilities increased by Rs 1.0386 crore. These adjustments relate to the purchase-price allocation, rather than being separately disclosed as current-period operating expenses.

What is Foseco India planning after the FCIL acquisition?

Foseco India’s board approved the acquisition of Vesuvius India Limited’s Mehsana, Gujarat business undertaking for a lump-sum consideration of Rs 43.25 crore on 13 August 2026. The undertaking comprises a manufacturing facility primarily producing crucibles, stoppers and sleeves for the non-ferrous industrial sector.

The proposed consideration is subject to adjustments set out in the Business Transfer Agreement. Completion remains subject to approval from the Gujarat Industrial Development Corporation and other preconditions in that agreement. The filing provides no completion date or financial target for the Mehsana undertaking.

Foseco India reports one segment, metallurgical products and services, under Indian Accounting Standard 108, Operating Segments. Consequently, the filing does not separate revenue, margins or profit for products that may be added through the Rs 43.25 crore Mehsana transaction.

Conclusion

Foseco India’s nine-month results show a larger reported group following the inclusion of FCIL: revenue from operations reached Rs 685.3821 crore and net profit reached Rs 110.0748 crore, with FCIL contributing Rs 139.2053 crore of revenue and Rs 23.1198 crore of profit after tax. The prior-year comparison needs caution because the 2025 period was the parent’s standalone result rather than that of the current group.

The next disclosed milestones are the 11 November 2026 end of the FCIL acquisition-accounting measurement period and the pending approvals and contractual conditions for the Rs 43.25 crore Mehsana business transfer. The filing does not disclose a completion timetable for the Mehsana transaction.