About Steelcast Limited

Steelcast Limited, incorporated on February 11, 1972, is an Indian manufacturer specialising in steel and alloy-steel castings. Operating from its integrated facility at Ruvapari Road, Bhavnagar, Gujarat, the company produces high-quality castings using advanced No-Bake and Shell Moulding processes, complemented by an in-house machine shop for precision machining. Its product range covers Carbon Steel and Low Alloy Steel castings that cater to a broad set of industrial applications, including earthmoving, mining, construction, cement, steel, railways, locomotives, and defence.

The company supplies to both domestic and international markets, exporting to 16 countries, with exports contributing 54% of total turnover. Steelcast serves customers in 10 Indian states and key global destinations such as Germany, USA, Thailand, Singapore, Mexico, Brazil, Denmark, Slovakia, Poland, South Korea, Japan, China, Australia, Israel, and Canada. Its installed capacity stands at 29,000 tonnes per annum, and it manufactures complex components ranging from 5 kg to 2,500 kg, with a current maximum casting weight capability of 2.5 tons.

Steelcast operates as a technically advanced, quality-driven enterprise with certifications including ISO 9001, ISO 14001, ISO 45001, EN 9100, NABL-accredited laboratory status, Association of American Railroads (AAR) approval, Tier 1 Authorised Economic Operator certification, and Two Star Export House recognition. As per the Annual Report 2024–25, the company has no subsidiaries.

Key Milestones of Steelcast Limited

• Over 60 years of domain expertise in specialised steel and alloy steel casting production.
• Expanded product portfolio covering over 5,000 distinct part designs with development lead time reduced from nine months to six months.
• Achieved approximately 75% output as fully machined castings to add greater value to products.
• Commissioned increased renewable power capabilities, now meeting 80% of power needs through captive hybrid and solar setups.
• Produced castings for India’s defence manufacturing ecosystem under the Make in India initiative.
• Advanced process automation across fettling and machining units to enhance throughput and quality consistency.

Steelcast Limited Business Verticals and Geographic Presence 

Industry-wise contribution (FY 2024–25):

• Earthmoving Equipment: 51%
• Mining: 21%
• Construction: 20%
• Locomotive: 5%
• Railways: 1%
• Others (Transport, Ground Engaging Tools, Cement, Steel, Defence): 2%

Segment-wise breakdown:

• OEMs: 100%
• Replacement/Aftermarket: 0%

Geographical revenue contribution:

• Domestic: 46%
• Exports: 54%

Steelcast operates as both a domestic and export-oriented supplier, with a heavy emphasis on OEM contracts. Its global footprint covers 16 countries, with growing demand from North America, Europe, and Asia-Pacific markets. The company’s expertise in alloy castings, combined with localised machining and power self-sufficiency, strengthens its competitiveness in precision and complex cast components.

Steelcast Limited Key Management

• Chetan M. Tamboli – Chairman & Managing Director
• Rushil C. Tamboli – Whole Time Director
• Ashutosh H. Shukla – Executive Director & Chief Operating Officer
• Subhash R. Sharma – Executive Director & Chief Financial Officer
• Umesh V. Bhatt – Company Secretary

Latest Updates on Steelcast Limited

• Exports and market diversification: Exports accounted for 54% of turnover, with new business traction achieved in Poland, Slovakia, Brazil, and Canada. The company is also diversifying into Ground Engaging Tools and defence castings beyond its established earthmoving and mining sectors.
• Capacity and utilisation: Reported 45% capacity utilisation during FY 2024–25, maintaining high-value, fully machined castings capability with the maximum casting weight of 2.5 tons.
• Financial and operational strength: The company ended FY 2024–25 debt-free, highlighting a robust balance sheet and prudent capital management.
• Energy efficiency: Continued cost savings of about Rs. 14 crore annually through its existing hybrid (4.5 MW) and solar (5 MW) power plants. Announced a new 2.4 MW hybrid power project under a group captive model, to be financed from internal accruals.
• Credit rating and certifications: CARE Ratings reaffirmed ratings at CARE A– (Stable)/CARE A2+. The company retained ISO, EN, AAR, and NABL certifications and maintained Two Star Export House status.
• R&D and process advances: Implemented cold box moulding for superior core quality, adopted centrifugal casting for small-precision parts, and upgraded lab infrastructure with a stereo microscope for fracture analysis.