NELCAST LTD. Q2 FY26 Results

FY26 began with strong momentum in Q1, driven by demand across key segments. In Q2, exports were impacted by a slowdown in the U.S. economy, because of imposition of additional tariffs leading to temporary production pauses by customers. However, domestic demand remained steady supported by tractor and M&HCV sales. We expect export volumes to recover by the end of the financial year as customer schedules normalize. I am pleased to share that our efforts are showing results. We have successfully developed high value-added castings for the export market and have initiated sampling. The feedback from customers has been very positive. These products are high-margin and strategically important for Nelcast as they will help expand margins, improve capacity utilization, and deliver economies of scale. We expect commercial sales to begin in the first half of FY27. Looking ahead, we anticipate market conditions to improve by the end of FY26. We believe the worst is behind us, and the coming years will mark a turnaround for Nelcast; driven by our focus on high-value products, operational efficiency and global opportunities.