Investment & Precision Castings Limited H1 profit at Rs 10.79 crore

Investment & Precision Castings Limited reported unaudited standalone net profit of Rs 10.79 crore for the six months ended 30 September 2026, compared with Rs 5.21 crore a year earlier, while revenue from operations increased to Rs 111.29 crore from Rs 87.97 crore. Profit before tax rose to Rs 15.42 crore from Rs 7.28 crore.

What drove Investment & Precision Castings’ H1 profit increase?

Investment & Precision Castings’ profit increase was accompanied by higher revenue and profit before tax in the six months ended 30 September 2026. Revenue from operations rose by Rs 23.32 crore year on year to Rs 111.29 crore, while profit before tax increased by Rs 8.14 crore to Rs 15.42 crore. Net profit after tax rose by Rs 5.58 crore to Rs 10.79 crore.

Investment & Precision Castings reported income-tax expense of Rs 4.64 crore for the first half, compared with Rs 2.07 crore in the corresponding period of 2025. Basic and diluted earnings per share were both Rs 10.79 for the six months ended 30 September 2026, against Rs 5.21 a year earlier, based on equity share capital of Rs 10 crore.

The September 2026 quarter accounted for Rs 5.80 crore of the first-half standalone net profit, compared with Rs 4.99 crore in the June 2026 quarter. Revenue from operations was Rs 57.95 crore in the September quarter, above Rs 53.34 crore in the preceding quarter. The quarterly comparison shows both sales and reported profit increased in the second quarter of the financial year.

How did Investment & Precision Castings convert profit into operating cash?

Investment & Precision Castings generated Rs 3.49 crore of net cash from operating activities in the six months ended 30 September 2026, compared with Rs 58.03 lakh in the prior-year period. Operating profit before working-capital changes rose to Rs 23.22 crore from Rs 14.53 crore, but working-capital movements absorbed Rs 16.24 crore and income-tax payments were Rs 3.50 crore.

Inventory was the largest specified working-capital use of cash, at Rs 11.46 crore, compared with Rs 1.93 crore in the six months ended 30 September 2025. Trade and other receivables used Rs 7.02 crore, against Rs 1.02 crore a year earlier, while other assets used Rs 6.52 crore, lower than the prior-year outflow of Rs 12.28 crore. Trade and other payables provided Rs 8.82 crore, compared with Rs 3.28 crore.

Investment & Precision Castings used Rs 7.92 crore in investing activities, compared with Rs 3.97 crore in the prior-year half. Payments for property, plant and equipment were Rs 7.68 crore, up from Rs 4.00 crore, while fixed-deposit investment or redemption resulted in an outflow of Rs 17.18 lakh. The cash-flow statement also records Rs 26.53 lakh of loans given or repaid on a net basis.

Financing activities produced Rs 6.18 crore of cash in the first half, below Rs 8.23 crore in the corresponding 2025 period. Net borrowings were Rs 10.09 crore, partly offset by Rs 2.84 crore of interest paid, Rs 99.28 lakh of dividends paid and Rs 6.77 lakh of lease-liability repayments. Cash and cash equivalents consequently increased to Rs 3.94 crore at 30 September 2026 from Rs 2.20 crore at 31 March 2026.

What changed on Investment & Precision Castings’ balance sheet?

Investment & Precision Castings’ standalone total assets rose to Rs 246.26 crore at 30 September 2026 from Rs 216.49 crore at 31 March 2026. Current assets increased to Rs 127.81 crore from Rs 103.90 crore, while non-current assets rose to Rs 118.45 crore from Rs 112.59 crore. The change in current assets included higher inventories, investments and other current assets.

Investment & Precision Castings’ inventory balance increased by Rs 11.46 crore to Rs 63.16 crore, matching the inventory cash outflow shown in the half-year cash-flow statement. Capital work-in-progress rose to Rs 3.84 crore from Rs 1.42 crore, while property, plant and equipment increased to Rs 99.08 crore from Rs 98.66 crore. Other current assets rose to Rs 9.30 crore from Rs 5.86 crore.

Investment & Precision Castings’ total equity increased to Rs 112.61 crore from Rs 102.78 crore, including other equity of Rs 102.61 crore at 30 September 2026. Non-current borrowings increased to Rs 19.75 crore from Rs 16.99 crore, and current borrowings rose to Rs 60.44 crore from Rs 53.11 crore. Total current liabilities were Rs 102.26 crore, compared with Rs 86.72 crore at the March year-end.

How did Investment & Precision Castings’ consolidated figures compare?

Investment & Precision Castings’ consolidated net profit for the six months ended 30 September 2026 was Rs 10.79 crore, almost the same as its standalone profit of Rs 10.79 crore. Consolidated revenue from operations was Rs 111.29 crore, matching the standalone revenue figure, while consolidated profit before tax was Rs 15.42 crore against standalone profit before tax of Rs 15.42 crore.

Consolidated total assets were Rs 246.03 crore at 30 September 2026, compared with standalone total assets of Rs 246.26 crore. Consolidated equity was Rs 112.44 crore, versus standalone equity of Rs 112.61 crore. The limited-review report identifies a wholly owned subsidiary whose figures account for the small difference between the two presentations.

Investment & Precision Castings’ wholly owned subsidiary, I&PCL Vacuum Cast Limited, had total assets of Rs 8.30 lakh at 30 September 2026. The subsidiary reported nil revenue for both the September 2026 quarter and the six-month period, along with a net loss of Rs 45,000 for the half year. Its total comprehensive income was Rs 46,000 for the half year, according to the consolidated review report.

What did the auditor say about Investment & Precision Castings’ results?

Investment & Precision Castings’ statutory auditor said on 14 November 2026 that nothing had come to its attention to indicate the unaudited standalone financial statement contained a material misstatement. The review covered the quarter ended 30 September 2026 and the year-to-date period from 1 April 2026 to 30 September 2026 under Regulation 33 of the Securities and Exchange Board of India listing regulations.

The auditor conducted a limited review under Standard on Review Engagements 2410, rather than an audit under Standards on Auditing. It stated that a review is substantially narrower in scope than an audit and does not provide assurance that all significant matters that an audit might identify would be found. The board approved the unaudited results on 14 November 2026 after audit-committee review.

For the consolidated statement, the auditor said it had performed procedures required under the applicable Securities and Exchange Board of India circular for consolidated results. It did not review the interim information of I&PCL Vacuum Cast Limited itself, but said the subsidiary’s figures had been reviewed by its auditors. The auditor said its consolidated review report was not modified in respect of that matter.

Conclusion

Investment & Precision Castings reported higher standalone revenue, profit before tax and net profit in the first half ended 30 September 2026, with net profit reaching Rs 10.79 crore. The balance-sheet and cash-flow statements show that inventory, receivables and other assets absorbed cash during the period, while borrowings increased and property, plant and equipment payments reached Rs 7.68 crore.

The filing does not disclose a production target, capital-expenditure plan or next reporting date. The next results will clarify whether the September-quarter revenue of Rs 57.95 crore and net profit of Rs 5.80 crore continue, and whether the Rs 3.84 crore capital work-in-progress, Rs 63.16 crore inventory balance and Rs 60.44 crore of current borrowings change further.