Steelcast Expands Capacity, Strong Q1 FY27 Earnings for MTAR, MOIL

Steelcast has announced board approval for a new greenfield foundry, adding 8,500 tons to its existing 29,000 tons capacity. This strategic expansion coincides with robust Q1 FY27 results, where the company saw significant growth.

The June 2026 quarter also delivered exceptional financial performance across several companies, with MTAR Technologies, MOIL, and Karnataka Bank leading the surge in profits.

Key Earnings Highlights

Multiple companies posted strong revenue and profit after tax figures for the first quarter of fiscal year 2027, demonstrating considerable market strength.

• MTAR Technologies recorded a 130.37% surge in revenue to Rs 3,607.21 million, with profit after tax skyrocketing 349.76% to Rs 505.04 million.
• MOIL registered a 70.11% surge in profit after tax to Rs 876.17 million on a 6.56% revenue increase to Rs 3,708.83 million.
• Steelcast itself reported revenue zooming 17% to Rs 1,248.20 million and profit after tax rising 19.27% to Rs 237.12 million.
• Arex Industries nearly doubled its profit after tax to Rs 88.08 million, with sales growing 26.78% to Rs 142.84 million.
• Gokul Agro Resources posted a 59.77% rise in profit after tax to Rs 1,025.77 million, as revenue increased 9.71% to Rs 50,741.09 million.
• Karnataka Bank achieved a 43.28% growth in profit after tax to Rs 4,189.50 million, with revenue up 5.37% to Rs 23,826.50 million.

Further Positive Outcomes

Beyond the top performers, several other firms also reported positive financial results for Q1 FY27, contributing to a generally optimistic market sentiment.

• Jagsonpal Pharma saw profit after tax rise 22.18% to Rs 131.89 million on an 8.76% revenue increase to Rs 822.32 million.
• BMW Ventures reported a 31.78% rise in profit after tax to Rs 105.77 million, with sales up 25.65% to Rs 6,088.96 million.
• Force Motors recorded a modest 14.50% increase in profit after tax to Rs 2,120.70 million, with revenue up 6.22% to Rs 24,398.90 million.
• Ivalue Infosolutions’ profit after tax increased 47.39% to Rs 149.90 million, despite a decrease in sales to Rs 1,516.20 million.
• Indo Rama Synthetic achieved a 4.46% profit after tax growth to Rs 337.50 million, even as sales declined 30.97% to Rs 8,179.10 million.

Companies Facing Headwinds

While many companies thrived, some encountered financial challenges during the June 2026 quarter, reporting profit declines or increased losses.

• Vedanta Iron & Steel reported a marginal decline in net profit to Rs 1,850.00 million, against a 15.86% revenue growth to Rs 15,120.00 million.
• Vedanta Power swung to a net loss of Rs 4,490.00 million in Q1 FY27 from a profit of Rs 750.00 million in the year-ago period, though revenue grew 6.43% to Rs 18,360.00 million.
• Odyssey Technologies experienced a significant 59.85% decline in net profit to Rs 2.16 million, with revenue slightly down 4.59% to Rs 57.36 million.
• Hariyana Ventures reduced its net loss to Rs -0.42 million from Rs -0.52 million year-on-year.
• Arcotech also narrowed its net loss to Rs -81.56 million compared to Rs -82.40 million.
• GSL Securities reported an increased net loss of Rs -0.85 million for the quarter.

The June 2026 quarter presented a mixed financial landscape, characterized by significant growth in key sectors alongside notable challenges for other companies.