Castings/Forgings · Founded 1985 · www.creative-cast.com · BSE 539527 · · ISIN INE146E01015
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Business
Creative Castings Ltd. is an Indian manufacturing company operating in the Castings/Forgings sector. The company's core business involves the production of metal components through casting and/or forging processes. These precision-engineered components likely serve as critical inputs for various industrial applications, such as automotive, heavy machinery, infrastructure, railways, and other engineering sectors. Its business model is B2B, supplying directly to original equipment manufacturers (OEMs) or tier-1 suppliers. The company generates revenue by selling its manufactured casting and forging products.
Revenue Mix
Specific key segments or a detailed revenue mix are not provided. Given its industry, Creative Castings Ltd. likely caters to multiple end-user industries. Potential major segments could include automotive components, industrial machinery parts, agricultural equipment components, railway components, or general engineering castings/forgings. The contribution from each end-user industry would depend on its production capabilities and client base.
Industry
The Castings/Forgings industry in India is mature, capital-intensive, and cyclical, closely tied to the health of the automotive, infrastructure, and general manufacturing sectors. It is characterized by a mix of organized and unorganized players, with competition often driven by cost efficiency, quality, adherence to specifications, and delivery timelines. Without specific market share or capacity data, Creative Castings Ltd.'s positioning within this competitive landscape is assumed to be either a specialized niche player focusing on certain types of castings/forgings or a more diversified supplier to multiple industries, competing on technology, quality, and customer relationships.
MOAT
Based on the information provided, specific durable competitive advantages (moats) are not evident. However, potential sources of competitive advantage in this industry could include:
Specialized Manufacturing Capabilities: Unique processes, material expertise, or high-precision capabilities for complex components.
Strong Client Relationships: Long-standing approvals and deep integration with key OEM customers, leading to high switching costs.
Cost Leadership: Achieving superior operational efficiency and economies of scale.
Geographic Proximity: Strategic location near major customer hubs or raw material sources.
The presence and strength of these advantages for Creative Castings Ltd. would require further analysis.
Growth Drivers
Key factors that could drive growth for Creative Castings Ltd. over the next 3-5 years include:
Growth in End-User Industries: Robust growth in India's automotive sector (domestic sales and exports), infrastructure development, capital goods, and general manufacturing.
"Make in India" Initiative: Government thrust on local manufacturing and import substitution driving demand for domestic components.
Technology Upgrades & Higher Value Products: Increasing demand for lightweight, high-strength, and precision components requiring advanced casting/forging techniques.
Export Opportunities: Leveraging India's competitive manufacturing costs to cater to global demand.
Capacity Expansion: Strategic investments to meet rising demand and diversify product offerings.
Risks
Key business risks for Creative Castings Ltd. include:
Cyclicality of End-User Industries: Downturns in the automotive, construction, or manufacturing sectors can significantly impact demand.
Raw Material Price Volatility: Fluctuations in prices of key raw materials (e.g., steel, iron, aluminum, alloys) and energy costs can impact profitability.
Intense Competition: Pressure from domestic and international players on pricing and margins.
Technological Obsolescence: Failure to invest in new manufacturing technologies or processes can lead to loss of competitiveness.
Regulatory & Environmental Compliance: Increasingly stringent environmental norms and labor laws can increase operational costs.
Capital Intensity: The need for continuous capital expenditure for upgrades and expansion.
Management & Ownership
Details on specific management individuals or ownership structure are not provided. In India, companies like Creative Castings Ltd. are often promoter-led, meaning the founding family or individuals maintain significant ownership and control, often holding key management positions. Management quality would depend on their experience, strategic vision, and operational efficiency. The ownership structure likely involves a significant promoter holding, with potentially institutional and public shareholding if listed on an exchange.
Outlook
Creative Castings Ltd. operates in a foundational manufacturing sector crucial to India's industrial growth. The company stands to benefit from the overall expansion of the Indian economy, particularly the automotive and infrastructure sectors, driven by government initiatives and rising domestic consumption. However, the industry's inherent cyclicality, high capital intensity, and vulnerability to raw material and energy price fluctuations present significant challenges. Success will depend on the company's ability to maintain cost efficiency, innovate in product development, manage customer relationships effectively, and navigate the competitive landscape while adapting to technological advancements and economic cycles.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 15 | 14 | 11 | 8 | 11 | 9 | 13 | 15 | 11 | 14 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Income | 15 | 14 | 11 | 9 | 11 | 9 | 13 | 15 | 12 | 15 |
| Total Expenditure | 13 | 12 | 9 | 7 | 9 | 8 | 11 | 13 | 10 | 12 |
| Operating Profit | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
| Provision for Tax | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit After Tax | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 |
| Adjustments | 0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 |
| Adjusted Earnings Per Share | 14.1 | 7.3 | 8 | 4.5 | 8 | 5.7 | 8 | 12.1 | 7.8 | 12.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 21 | 25 | 26 | 33 | 30 | 31 | 30 | 42 | 51 | 52 | 44 | 53 |
| Other Income | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| Total Income | 21 | 26 | 26 | 34 | 31 | 33 | 31 | 43 | 53 | 53 | 45 | 55 |
| Total Expenditure | 19 | 22 | 23 | 30 | 26 | 28 | 27 | 38 | 46 | 46 | 39 | 46 |
| Operating Profit | 3 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 7 | 7 | 6 | 8 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 6 | 7 | 5 | 8 |
| Provision for Tax | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 4 |
| Profit After Tax | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 4 | 6 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 4 | 6 |
| Adjusted Earnings Per Share | 0 | 19.7 | 20.4 | 23.7 | 26.7 | 23.2 | 21.8 | 25.2 | 36.8 | 39 | 27.9 | 40.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -15% | 2% | 7% | 8% |
| Operating Profit CAGR | -14% | 6% | 4% | 7% |
| PAT CAGR | -20% | 10% | 6% | 7% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -2% | -8% | 9% | 32% |
| ROE Average | 9% | 12% | 12% | 12% |
| ROCE Average | 13% | 17% | 16% | 16% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 17 | 19 | 20 | 23 | 25 | 27 | 29 | 31 | 35 | 39 | 42 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total Current Liabilities | 3 | 3 | 3 | 5 | 5 | 5 | 3 | 4 | 6 | 6 | 5 |
| Total Liabilities | 21 | 23 | 24 | 29 | 31 | 33 | 33 | 37 | 42 | 45 | 48 |
| Fixed Assets | 7 | 7 | 8 | 8 | 7 | 7 | 6 | 6 | 6 | 8 | 9 |
| Other Non-Current Assets | 1 | 1 | 1 | 1 | 3 | 3 | 2 | 2 | 3 | 2 | 2 |
| Total Current Assets | 13 | 15 | 16 | 20 | 21 | 23 | 25 | 28 | 33 | 35 | 37 |
| Total Assets | 21 | 23 | 24 | 29 | 31 | 33 | 33 | 37 | 42 | 45 | 48 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 3 | 1 | 1 |
| Cash Flow from Operating Activities | 2 | 2 | 4 | 1 | 5 | 2 | 2 | 0 | -0 | 4 | 5 |
| Cash Flow from Investing Activities | -0 | -2 | -2 | -1 | -3 | 0 | -1 | 3 | 0 | -3 | -4 |
| Cash Flow from Financing Activities | -2 | 0 | -2 | -0 | -2 | -2 | -1 | -1 | -1 | -1 | -1 |
| Net Cash Inflow / Outflow | -0 | -0 | 0 | 0 | -0 | 1 | -1 | 2 | -1 | -1 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 3 | 1 | 1 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0 | 19.68 | 20.41 | 23.73 | 26.66 | 23.18 | 21.79 | 25.24 | 36.83 | 38.97 | 27.92 |
| CEPS(Rs) | 16.13 | 24.01 | 24.6 | 28.42 | 31.28 | 27.72 | 26.84 | 29.8 | 42.61 | 43.84 | 32.55 |
| DPS(Rs) | 1 | 3 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Book NAV/Share(Rs) | 0 | 147.01 | 154.9 | 179.45 | 194.56 | 204.87 | 220.83 | 238.98 | 267.74 | 299.9 | 322.85 |
| Core EBITDA Margin(%) | 11.07 | 12.27 | 11.73 | 11.05 | 12.97 | 10.11 | 10.88 | 9.09 | 10.31 | 12.14 | 11.17 |
| EBIT Margin(%) | 9.35 | 12.49 | 12.24 | 12.14 | 14.51 | 12.54 | 13.01 | 10.13 | 12.77 | 12.69 | 12.46 |
| Pre Tax Margin(%) | 9.21 | 12.49 | 12.22 | 12.1 | 14.49 | 12.52 | 12.99 | 10.12 | 12.75 | 12.48 | 12.2 |
| PAT Margin (%) | 7.03 | 9.62 | 9.81 | 9.14 | 11.42 | 9.62 | 9.46 | 7.87 | 9.43 | 9.68 | 8.33 |
| Cash Profit Margin (%) | 9.35 | 11.74 | 11.83 | 10.95 | 13.4 | 11.51 | 11.66 | 9.29 | 10.91 | 10.89 | 9.71 |
| ROA(%) | 7.5 | 11.66 | 11.26 | 11.71 | 11.6 | 9.46 | 8.59 | 9.4 | 12.18 | 11.57 | 7.79 |
| ROE(%) | 9.66 | 14.16 | 13.52 | 14.19 | 14.25 | 11.6 | 10.24 | 10.98 | 14.54 | 13.73 | 8.97 |
| ROCE(%) | 12.03 | 18.29 | 16.8 | 18.85 | 18.12 | 15.13 | 14.08 | 14.13 | 19.65 | 17.96 | 13.38 |
| Receivable days | 85.87 | 80.55 | 76.97 | 75.27 | 97.91 | 81.31 | 78.5 | 64.29 | 82.1 | 97.58 | 92.74 |
| Inventory Days | 51.99 | 40.26 | 38.58 | 32.59 | 39.98 | 51.4 | 64.29 | 53.98 | 52.54 | 59.3 | 90.77 |
| Payable days | 88.44 | 82.47 | 93.66 | 85.88 | 113.25 | 99.4 | 76.04 | 36 | 42.82 | 55.37 | 56.65 |
| PER(x) | 0 | 1.31 | 2.71 | 8.3 | 13.13 | 15.97 | 16.29 | 15.1 | 12.22 | 17.39 | 18.68 |
| Price/Book(x) | 0 | 0.18 | 0.36 | 1.1 | 1.8 | 1.81 | 1.61 | 1.59 | 1.68 | 2.26 | 1.62 |
| Dividend Yield(%) | 0 | 11.65 | 18.12 | 5.08 | 2.86 | 2.7 | 2.82 | 2.62 | 2.22 | 1.48 | 1.92 |
| EV/Net Sales(x) | 0.04 | 0.13 | 0.26 | 0.74 | 1.49 | 1.49 | 1.52 | 1.12 | 1.13 | 1.67 | 1.55 |
| EV/Core EBITDA(x) | 0.33 | 0.84 | 1.74 | 5.29 | 9.01 | 10.35 | 10.02 | 9.73 | 7.92 | 12.02 | 11.2 |
| Net Sales Growth(%) | -22.79 | 18.79 | 2.02 | 29.97 | -9.28 | 3.21 | -4.42 | 39.34 | 21.75 | 2.93 | -16.74 |
| EBIT Growth(%) | -37.65 | 58.32 | -0.27 | 23.73 | 7.53 | -10.85 | -0.82 | 8.44 | 53.55 | 2.48 | -18.28 |
| PAT Growth(%) | -39 | 62.37 | 3.68 | 16.29 | 12.33 | -13.06 | -5.99 | 15.84 | 45.93 | 5.82 | -28.37 |
| EPS Growth(%) | 0 | 0 | 3.68 | 16.29 | 12.33 | -13.06 | -5.99 | 15.84 | 45.93 | 5.82 | -28.37 |
| Debt/Equity(x) | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 4.18 | 4.8 | 5.19 | 4.29 | 4.44 | 4.54 | 7.18 | 6.34 | 5.12 | 6.13 | 7.92 |
| Quick Ratio(x) | 3.21 | 3.89 | 4.27 | 3.58 | 3.73 | 3.49 | 5.69 | 4.71 | 3.97 | 4.45 | 5.33 |
| Interest Cover(x) | 66.68 | 0 | 493.94 | 372.31 | 509.68 | 586.95 | 572.78 | 861.96 | 589.56 | 58.76 | 48.45 |
| Total Debt/Mcap(x) | 0 | 0.05 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -15% | +2% | +7% | +8% |
| Operating Profit CAGR | -14% | +6% | +4% | +7% |
| PAT CAGR | -20% | +10% | +6% | +7% |
| Share Price CAGR | -2% | -8% | +9% | +32% |
| ROE Average | +9% | +12% | +12% | +12% |
| ROCE Average | +13% | +17% | +16% | +16% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 | 74.96 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
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