Foseco India Ltd
🚀 Foseco India FY2025: Revenue Hits ₹60,402 Lakh, Net Profit Rises to ₹7,522 Lakh
- Foseco India Limited is holding its 69th Annual General Meeting (AGM) on June 10, 2026, via Video Conferencing (VC) or Other Audio Visual Means (OAVM).
- The record date for determining entitlement to the final dividend is June 3, 2026, with the dividend to be paid by July 9, 2026, if approved.
- Final dividend proposed is Rs. 25 per share (250%) for the financial year ended December 31, 2025.
- Remote e-voting for AGM resolutions will be available from June 6, 2026, to June 9, 2026.
- Foseco India reported standalone revenue of Rs. 60,402 lakhs and profit after tax of Rs. 7,522 lakhs for FY2025, with an EPS of Rs. 114.94.
- The company completed the acquisition of a 75% stake in formerly Morganite Crucible India Limited, now Foseco Crucible (India) Limited, enhancing its capabilities in high-performance materials.
- R&D expenditure for the year was Rs. 198 lakhs, focusing on innovation in foundry consumables and technologies.
- Corporate Social Responsibility (CSR) spend was Rs. 161 lakhs, with initiatives in education, healthcare, and community development.
- Proposals for re-appointment of directors including Amitabha Mukhopadhyay as Non-Executive Independent Director and Prasad Chavare as Managing Director & CEO for another term.
- The company emphasizes sustainability, with initiatives reducing environmental impact including a solar power project contributing to emission reductions.
- Board of Directors authorized to handle remuneration approvals and related matters without further member approval.
- Ratification of remuneration of Rs. 4,50,000 plus GST and expenses for Joshi Apte & Associates, Cost Accountants, for auditing cost records for FY ending 31 December 2026.
- Record date for final dividend entitlement set for 3 June 2026, with payment deadline by 9 July 2026.
- Special window opened until 4 February 2027 for transferring and dematerializing physical shares sold/purchased before 1 April 2019.
- Amitabha Mukhopadhyay recommended for re-appointment as Non-Executive Independent Director for a second term from 27 July 2026 to 26 July 2031.
- Prasad Chavare's reappointment as Managing Director and CEO is proposed, along with approval for his remuneration terms.
- Remote e-voting available from 6 June 2026 to 9 June 2026, with AGM conducted via VC/OAVM facility facilitated by NSDL.
- Members must submit queries by 8 June 2026 to participate in AGM discussions.
- Unclaimed dividends and shares after seven years transferred to IEPF; shareholders must update details to claim.
- Annual Report and AGM Notice accessible on company and stock exchange websites for member review.
- Prasad is eligible and has consented to be appointed as a Director of the company, meeting all necessary qualifications and regulatory requirements.
- Foseco India Limited operates in the manufacturing sector, serving industries like automobile, foundries, and aluminium, with 68 years of operations since incorporation in 1958.
- Financial performance shows growth over the last three years with total revenue increasing from Rs. 47,740.90 lakh in 2023 to Rs. 60,401.65 lakh in 2025, and net profit after tax reaching Rs. 7,521.74 lakh in 2025.
- Foreign investors hold 89.08% of the company's paid-up capital as of 31 December 2025, with foreign promoters being the largest stakeholders at 63.54%.
- Prasad, with over two decades of experience across various industries, has been leading Foseco India Limited effectively, overseeing manufacturing plants and business strategies since his appointment in 2021.
- The company maintains robust financial controls and governance standards, with no reported frauds or cyber security incidents during the year.
- Dividend of 250% per share is proposed for the financial year ended 31 December 2025, consistent with the previous year's payout.
- Significant corporate actions include the acquisition of Foseco Crucible (India) Limited, becoming a subsidiary, and the subsequent open offer to public shareholders.
- The board has recommended the re-appointment of several directors, including Prasad as Managing Director for another term, highlighting his contributions to the company's growth.
- Environmental, social, and governance (ESG) initiatives are emphasized, with a dedicated Business Responsibility and Sustainability Report, showcasing the company's commitment to sustainable practices.
- Foseco India Limited has updated its corporate policies on its website, including Code of Conduct, Familiarisation Programme for Independent Directors, Archival Policy, Policy for Determination of Material Events, Policy for Preservation of Documents, and Dividend Distribution Policy.
- No significant transactions or changes in business nature reported for the year under review, including no insolvency proceedings, one-time settlements, or regulatory impacts affecting operations.
- Foseco India Limited acquired Foseco Crucible (India) Limited (formerly Morganite Crucible (India) Limited) as a subsidiary effective November 12, 2025, holding 75% shareholding.
- Financial highlights for Foseco Crucible (India) Limited show a total asset value of Rs. 16,930.24 lakhs, turnover of Rs. 4,073.00 lakhs, and a post-tax profit of Rs. 1,032.32 lakhs for the period from October 27, 2025, to December 31, 2025.
- The company conducted an Open Offer for remaining public shareholders of Foseco Crucible (India) Limited from December 31, 2025, to January 13, 2026.
- Corporate Social Responsibility (CSR) activities focused on healthcare, education, and community development, with Rs. 161.69 lakhs spent, slightly exceeding the mandated 2% of average net profit.
- Energy conservation measures included solar power installation and equipment upgrades. R&D efforts led to sustainable product innovations and cost reductions, with Rs. 198.34 lakhs spent on R&D.
- Foreign exchange earnings were Rs. 1,928.05 lakhs, while outgo stood at Rs. 7,958.83 lakhs.
- Remuneration details for directors and KMPs disclosed, with the median employee remuneration at Rs. 12.14 lakhs, showing a 4.39% increase from the previous year.
- Corporate Governance practices affirmed with compliance to SEBI Listing Regulations, and the Board composition reflects diversity and expertise.
- Foseco India emphasizes a solutions partnering and value selling approach, enhancing foundry processes and casting quality.
- The company operates on proprietary technology, excelling in foundry processes, product application, quality, and customer service.
- Core values (Courage, Ownership, Respect, Energy) guide employee behavior and decision-making to support growth and profitability.
- Financial reporting integrity is ensured through strict controls, audits supervised by the Audit Committee, and independent chartered accountants.
- Shareholder rights are protected with timely disclosures, equitable treatment, and mechanisms for grievance redressal.
- Stakeholders' rights are recognized, with mechanisms for information access and whistleblower protections.
- A framework on insider trading is in place to prevent abusive practices, with updates available on the company's website.
- Performance measurement mechanisms are established for employees, linking remuneration to individual and company performance.
- As of December 31, 2025, the Board consists of seven directors, including three independent directors and one woman director.
- Key Board members include Ravi Moti Kirpalani (Chairperson), Anita Belani, and Prasad Madhukar Chavare (MD & CEO).
- Directors bring diverse expertise in strategic thinking, general management, finance, HR, and regulatory compliance.
- Six Board and six Audit Committee meetings were held in 2025, all virtually, ensuring compliance with regulatory requirements.
- The company maintains a Code of Conduct and Ethics for directors and senior management, affirming compliance annually.
- Committees include Audit, Stakeholders' Relationship, Nomination and Remuneration, CSR, and Risk Management, each with defined roles.
- Audit Committee responsibilities include reviewing the Auditor's management letter, discussing audit scope with Statutory Auditors, and reviewing Whistle-blower Policy reports.
- Risk Management Committee focuses on identifying and managing internal and external risks, including financial, operational, and cybersecurity risks.
- Nomination and Remuneration Committee comprises Ms. Anita Belani (Chairperson), Mr. Ravi Moti Kirpalani, Mr. Amitabha Mukhopadhyay, and Mr. Patrick Andre as of December 31, 2025.
- Three Nomination and Remuneration Committee meetings were held in 2025 with full attendance from most members.
- Performance evaluation criteria for Independent Directors include independence of judgment, shareholder value creation, and governance standards.
- Remuneration for the Managing Director in 2025 totaled Rs. 335.11 lakhs (Salary: Rs. 322.43 lakhs, Perquisites: Rs. 12.68 lakhs).
- Non-Executive Independent Directors received sitting fees and commission, with Ravi Moti Kirpalani receiving Rs. 11.2 lakhs in sitting fees and Rs. 18 lakhs in commission.
- CSR Committee, chaired by Ms. Anita Belani, held three meetings in 2025 with full attendance from members.
- Stakeholders' Relationship Committee addressed shareholder grievances, with only 2 complaints received and resolved in 2025.
- Risk Management Committee, chaired by Mr. Amitabha Mukhopadhyay, held two meetings in 2025.
- Senior management includes Daljit Banga (Operations Director), Mohit Mangal (CFO), and Amit Kumar (Commercial Director).
- Annual General Meetings for the last three years were held virtually, with special resolutions passed on director appointments and remuneration.
- Shareholding distribution as of December 31, 2025: 74.98% held by Foreign Promoters, 25% by Foreign Companies, and 9.29% by Indian Public.
- 99.68% of the Company's shares were dematerialized as of December 31, 2025.
- The Company acquired 75% equity in Foseco Crucible (India) Limited for Rs. 63,800.35 lakhs via a share swap arrangement.
- No complaints of sexual harassment were reported in 2025 under the Workplace Sexual Harassment Act.
- The Company has complied with SEBI Listing Regulations and corporate governance requirements, including mandatory and non-mandatory provisions.
- Dividend payment dates and unclaimed dividend details were disclosed, with dividends declared in 2018-2024 due for IEPF transfer between 2026-2032.
- The Board received affirmations of compliance with the Code of Conduct from all members and senior management for 2025.
- Foseco India, established in 1958, is a leader in the Indian foundry industry, serving diverse markets with high-quality consumable products.
- The company offers a comprehensive range of foundry consumables and equipment, including feeding systems, filtration products, metal treatment solutions, coatings, refractory products, binders, and software solutions.
- Foseco India's value proposition focuses on enhancing casting quality and operational efficiency through innovative solutions and strong R&D capabilities.
- The Indian foundry industry is valued at USD 26.28 billion in 2025, with India being the second-largest casting producer globally, outputting approximately 12 million metric tonnes annually.
- Key growth drivers for the Indian foundry sector include policy-led import substitution, strategic sectoral demand (notably from EVs), sustainability initiatives, and technological advancements like Industry 4.0.
- Foseco India reported robust financial performance in 2025, with total revenue from operations at Rs. 60,402 lakh, a 15.1% increase from the previous year, and a Profit After Tax (PAT) of Rs. 7,522 lakh.
- The company continues to focus on innovation, with new product developments like INSTA Coatings and AIRLESS SPRAY Coating Systems, aimed at improving efficiency and reducing costs.
- Foseco India has a strong commitment to sustainability, with initiatives such as solar power projects and green energy contracts to reduce CO2 emissions.
- Employee engagement remains high, with a score of 91 out of 100 in the I-Engage survey, and the company being recertified as a 'Great Place to Work' in 2025.
- Corporate Social Responsibility (CSR) activities focus on education, healthcare, and infrastructure development for marginalized communities.
- Foseco India Limited has policies covering all National Guidelines on Responsible Business Conduct (NGRBC) Principles, approved by the Board.
- The company has ISO certifications for Quality Management (ISO 9001:2015), Environmental Management (ISO 14001:2015), and Occupational Health and Safety (ISO 45001:2018).
- Sustainability targets include achieving Net Zero Carbon by 2050, reducing CO2 emissions by 20% by 2025, and reducing solid waste by 25% by 2025.
- Significant achievements include a 55% reduction in CO2 emissions (against a 20% target) and a 60% reduction in solid waste over 2019 levels by 2025.
- The company has invested in a 565 KWP solar power project at its Pune site to enhance green energy usage.
- Employee well-being measures include 100% coverage under health and accident insurance, maternity and paternity benefits, and superannuation for eligible employees.
- Training programs covered 99% of employees on health and safety measures and 100% on skill upgradation in FY2025.
- The company has a grievances redressal mechanism, including a Speak Up Helpline and POSH committee for addressing employee concerns.
- No fines, penalties, or legal actions were reported against the company, directors, or KMPs during the financial year.
- The company reports 11.89% of total raw materials used were recycled, exceeding its 7% target by 2025.
- Foseco India Limited is certified for ISO 14001:2015 and ISO 45001:2018 standards, ensuring a safe and healthy workplace.
- Regular safety audits and risk assessments are conducted to prevent incidents, injuries, and hazards.
- Employees can report work-related hazards via a dedicated LOTUS database, with corrective actions taken post-incident.
- All employees are covered under health insurance, including spouse and dependent kids, with additional accident insurance.
- No safety-related incidents (Lost Time Injury Frequency Rate, fatalities, etc.) were reported in FY 2025 and FY 2024.
- Measures for a safe workplace include safe machines, hazard identification, risk mitigation, and annual health checks.
- No complaints on working conditions or health & safety were reported in FY 2025 and FY 2024.
- Pune and Puducherry sites undergo periodic assessments by authorities and internal audits.
- Zero liquid discharge mechanism in place, recycling wastewater and reducing contaminants to solid waste.
- Energy consumption details: Renewable sources (2189.48 GJ in FY 2025), non-renewable sources (59694 GJ in FY 2025).
- Greenhouse gas emissions: Scope 1 (2893 MT CO2), Scope 2 (3648 MT CO2 in FY 2025).
- Waste management practices prioritize 3 R principles (Reduce, Recycle, Reuse); total waste generated in FY 2025: 384.667 MT.
- No operations in ecologically sensitive areas; compliance with environmental laws confirmed.
- Innovative initiatives for energy efficiency and emissions reduction, such as splitting oven conveyers and eliminating external heating processes.
- Business continuity and disaster management plan in place, with an emergency response team.
- Affiliations with three trade and industry chambers: MCCIA, Deccan Chamber, and CII.
- No issues related to anti-competitive conduct reported.
- No corrective action was taken regarding anti-competitive conduct by the entity, with no issues identified by regulatory authorities.
- The Company did not advocate any public policy positions in the current financial year.
- No Social Impact Assessments (SIA) were required for any projects during the year.
- No projects required Rehabilitation and Resettlement (R&R) under applicable laws.
- The Company sourced 0.33% of input material from MSMEs/small producers in FY 2025, up from 0.32% in FY 2024.
- Wage distribution by location for FY 2025: Rural (2%), Semi-urban (51%), Urban (16%), Metropolitan (31%).
- CSR spending in FY 2025 included Rs. 161.12 lakhs in Pune, Maharashtra.
- The Company has no preferential procurement policy for marginalized/vulnerable groups.
- No benefits were derived from intellectual properties based on traditional knowledge in FY 2025.
- CSR projects benefitted 100% vulnerable and marginalized groups, with projects including educational scholarships, health camps, and village development.
- No consumer complaints were recorded in FY 2025 across categories like data privacy, advertising, and cybersecurity.
- The Company follows Vesuvius's cybersecurity framework, based on ISO 27001 and NIST standards.
- No instances of data breaches occurred in FY 2025.
- All products include Material Safety Data Sheets (MSDS) for safe usage information.
- The Company's standalone financial statements received an unqualified audit opinion, confirming compliance with accounting standards.
- Internal financial controls were found adequate and effective as of December 31, 2025.
- No material fraud was reported or detected during the audit.
- The Company complied with related party transaction regulations under the Companies Act, 2013.
- No cash losses incurred in the current or preceding financial year.
- No resignation of statutory auditors during the year.
- Company judged capable of meeting liabilities within one year, though no future viability assurance.
- No unspent amount under Section 135(5) of the Act at balance sheet date.
- Revenue from operations increased to INR 60,401.65 lakhs in 2025 from INR 52,478.39 lakhs in 2024.
- Profit before tax stood at INR 10,365.58 lakhs in 2025.
- Total assets increased significantly to INR 1,20,231.46 lakhs in 2025 from INR 48,445.54 lakhs in 2024, largely due to investments and other financial assets.
- Equity share capital increased to INR 753.73 lakhs in 2025 from INR 638.65 lakhs in 2024.
- Investments in quoted equity shares of Foseco Crucible (India) Limited amounted to INR 64,758.10 lakhs in 2025.
- Basic and diluted earnings per share remained stable at approximately INR 114.94 in 2025 compared to INR 114.35 in 2024.
- Cash generated from operations was INR 12,227.08 lakhs in 2025, up from INR 6,873.78 lakhs in 2024.
- Audit conducted by Price Waterhouse Chartered Accountants LLP, with Ali Akbar as the Partner.
- Revenue from operations increased to INR 60,401.65 lakhs in 2025 from INR 52,478.39 lakhs in 2024.
- Profit before tax rose to INR 10,365.58 lakhs in 2025 from INR 9,833.41 lakhs in 2024.
- Current tax expense for the year stood at INR 2,854.31 lakhs in 2025 compared to INR 2,574.55 lakhs in 2024.
- Net profit attributable to equity shareholders was INR 7,521.74 lakhs in 2025, up from INR 7,302.74 lakhs in 2024.
- Basic and diluted earnings per share (EPS) were INR 114.94 in 2025, slightly higher than INR 114.35 in 2024.
- The company issued 11,50,800 new equity shares during the year, increasing the total issued capital.
- Securities premium surged to INR 65,597.87 lakhs in 2025 from INR 1,912.60 lakhs in 2024, primarily due to share issuance.
- Exceptional expenses of INR 930.77 lakhs were incurred in 2025 related to the acquisition of Foseco Crucible (India) Limited.
- Corporate social responsibility (CSR) expenditure was INR 161.65 lakhs in 2025, up from INR 124.86 lakhs in 2024.
- Gratuity obligations increased to INR 1,278.62 lakhs in 2025 from INR 1,269.04 lakhs in 2024, with a deficit of INR 146.90 lakhs.
- Rising salaries can increase future defined benefit payments, leading to higher present value of liabilities. Unexpected salary hikes may create estimation uncertainties.
- Asset-Liability mismatch risk is mitigated by matching asset duration with liabilities using an asset-liability management approach.
- Vesuvius Plc grants Restricted Stock Units (RSUs) under its stock incentive plan, vesting over two years with no consideration or voting rights until fully vested.
- Share grants summary for December 31, 2025: Opening balance 73,170 shares, granted 16,050, vested (45,305), forfeited (7,925), closing balance 41,540 shares.
- Fair value of awards granted in 2025 was GBP 3.90 per share (2024: GBP 4.87), with Rs. equivalent at Rs. 431.66 per share (2024: Rs. 512.48).
- Total share-based payment expenses for 2025 were Rs. 88.96 lakhs vs. Rs. 139.67 lakhs in 2024.
- Related party transactions include dividends paid to Vesuvius Plc (Rs. 926.05 lakhs), Foseco (U.K.) Limited (Rs. 135.14 lakhs), and Vesuvius Holdings Limited (Rs. 136.02 lakhs).
- Key Management Personnel compensation totaled Rs. 593.06 lakhs for 2025, down from Rs. 611.67 lakhs in 2024.
- Segment reporting shows revenue from India at Rs. 58,364.59 lakhs (2025) and international sales at Rs. 1,978.01 lakhs (2025).
- Debt to Equity ratio improved to 0.14% in 2025 from 0.53% in 2024, with net debt at (Rs. 6,752.38 lakhs) in 2025.
- Proposed final dividend for 2025 is Rs. 25 per share, subject to shareholder approval (same as 2024).
- Foreign exchange sensitivity: A 5% INR/USD fluctuation impacts 2025 profit before tax by ±Rs. 45.19 lakhs.
- Deferred income tax assets are recognized based on probable future taxable profits.
- Employee benefits include short-term obligations recognized within 12 months and long-term benefits like gratuity and post-employment plans.
- Trade and other payables are recognized at fair value and presented as current liabilities unless due beyond 12 months.
- Provisions are recognized based on present obligations, reliable estimates, and best estimates at the reporting date.
- Taxation expense considers current tax laws and deferred tax adjustments.
- Revenue expenditure on in-house R&D: ₹169.50 lakhs (2025), ₹108.77 lakhs (2024).
- Capital expenditure on R&D PPE: ₹28.84 lakhs (2025), ₹9.33 lakhs (2024).
- Acquisition of 75% stake in Foseco Crucible (India) Limited for ₹63,800.35 lakhs via share swap.
- Open Offer deposit: ₹21,810 lakhs for MCIL public shareholders.
- Current Ratio: 2.91 (2025), 3.09 (2024).
- Debt-Equity Ratio: 0.0014 (2025), 0.0053 (2024).
- Return on Equity: 11% (2025), 23% (2024).
- Inventory Turnover: 9.08 (2025), 8.23 (2024).
- No wilful defaulter status or undisclosed income reported.
- Audit trail feature was operational, except at the database level.
- Final dividend proposed is subject to shareholder approval.
- Internal financial controls were adequate and effective per audit.
- Auditor's responsibility includes expressing an opinion on the Holding Company's internal financial controls with reference to consolidated financial statements.
- Audit procedures involve assessing the adequacy and operating effectiveness of internal financial controls.
- Internal financial controls are designed to provide reasonable assurance regarding financial reporting reliability and compliance with accounting principles.
- Inherent limitations of internal financial controls include potential material misstatements due to error or fraud not being detected.
- Auditor's opinion states that the Holding Company and its subsidiary have adequate internal financial controls operating effectively as of December 31, 2025.
- Consolidated Balance Sheet shows total assets of INR 1,36,821.11 lakhs as of December 31, 2025, compared to INR 48,445.54 lakhs in the previous year.
- Non-current assets increased significantly to INR 81,777.68 lakhs from INR 5,309.78 lakhs, driven by goodwill (INR 39,471.42 lakhs) and other intangible assets (INR 15,512.52 lakhs).
- Current assets stood at INR 55,043.43 lakhs, with trade receivables at INR 15,339.67 lakhs and cash and cash equivalents at INR 9,679.25 lakhs.
- Total equity attributable to owners of the parent was INR 1,03,625.42 lakhs, with non-controlling interests at INR 8,363.76 lakhs.
- Consolidated Statement of Profit and Loss reports revenue from operations at INR 64,341.85 lakhs, with total income at INR 66,024.45 lakhs for the year ended December 31, 2025.
- Profit before tax was INR 10,560.81 lakhs, with a total tax expense of INR 3,073.99 lakhs, resulting in a profit for the year of INR 7,486.82 lakhs.
- Earnings per share (basic and diluted) was INR 110.46, compared to INR 114.35 in the previous year.
- Consolidated Statement of Cash Flows shows net cash flows from operating activities at INR 9,762.43 lakhs, with net cash used in investing activities at INR 8,888.94 lakhs.
- Cash and cash equivalents at the end of the year were INR 9,679.25 lakhs.
- Notes to the financial statements highlight critical judgments and estimates, including useful lives of assets, impairment of trade receivables, and fair value measurements in business combinations.
- The Group's accounting policies comply with Indian Accounting Standards (Ind AS), with revenue recognized when control of goods or services is transferred to the customer.
- Significant changes in the Group's financial position include the acquisition of a subsidiary, Foseco Crucible (India) Limited, with a 75% ownership interest.
- The financial statements were prepared under the historical cost convention, except for certain financial assets and liabilities measured at fair value.
- The Group's operating cycle is 12 months, used for classifying assets and liabilities as current or non-current.
- New and amended accounting standards adopted by the Group did not have a material impact on the financial statements.
- The Group's income tax expense includes current tax payable on taxable income and adjustments for deferred tax assets and liabilities.
- Deferred tax is measured using enacted tax rates and laws expected to apply when the deferred tax is realized or settled.
- Trade and other payables amount to INR 15,559.96 lakhs as of December 31, 2025, with dues to micro and small enterprises at INR 752.20 lakhs.
- Provisions for employee benefits (gratuity and compensated absences) totaled INR 946.16 lakhs, with an additional INR 168.60 lakhs provision for warranties.
- The Group acquired Foseco Crucible (India) Limited, resulting in goodwill of INR 39,471.42 lakhs as of December 31, 2025.
- Property, plant, and equipment saw significant additions, with gross carrying value increasing to INR 17,367.80 lakhs.
- Capital work-in-progress amounted to INR 356.92 lakhs as of December 31, 2025, primarily for plant and machinery.
- Goodwill and other intangible assets, including customer relationships and brands, totaled INR 15,728.35 lakhs.
- Cash and cash equivalents stood at INR 9,679.25 lakhs, with no restrictions on repatriation.
- Bank balances other than cash equivalents amounted to INR 23,025.63 lakhs, including an escrow account deposit of INR 21,810.00 lakhs.
- Trade receivables were INR 15,339.67 lakhs, with a loss allowance of INR 179.79 lakhs.
- Inventory was valued at INR 5,350.15 lakhs, with a provision for obsolete inventory of INR 13.97 lakhs recognized in the year.
- Equity share capital increased to INR 753.73 lakhs with the issuance of 1,150,800 shares for business combination.
- Retained earnings grew to INR 33,512.09 lakhs, with a profit for the year of INR 7,228.74 lakhs.
- Non-controlling interests were recognized at INR 8,363.76 lakhs due to the acquisition of a subsidiary.
- Lease liabilities totaled INR 277.76 lakhs, with right-of-use assets recorded at INR 8,841.57 lakhs.
- The Group's total debt and obligations include lease liabilities, trade payables, and other financial liabilities amounting to significant figures as detailed in the notes.
- Unpaid/unclaimed dividends worth Rs. 3.33 lakhs (1st Interim dividend 2017) and Rs. 3.80 lakhs (2nd Interim dividend 2017) were transferred to IEPF due to regulatory requirements.
- Revenue from operations increased to Rs. 64,341.85 lakhs in 2025 from Rs. 52,478.39 lakhs in 2024, with domestic sales contributing Rs. 59,875.76 lakhs and exports Rs. 4,347.32 lakhs.
- Employee benefits expenses rose to Rs. 5,812.48 lakhs in 2025, compared to Rs. 4,895.71 lakhs in 2024, including salaries, bonuses, and welfare expenses.
- Depreciation and amortization expenses totaled Rs. 1,332.12 lakhs in 2025, up from Rs. 1,000.87 lakhs in 2024.
- Exceptional items for 2025 included Rs. 2,166.25 lakhs, mainly pre-acquisition expenses related to the acquisition of Foseco Crucible (India) Limited.
- Income tax expense for 2025 was Rs. 3,073.99 lakhs, with deferred tax adjustments impacting the overall tax liability.
- The Company acquired a 75% stake in Foseco Crucible (India) Limited (FCIL) for Rs. 63,800.35 lakhs via a share swap, leading to significant goodwill and integration expenses.
- Gratuity obligations for employees were managed through a fund with LIC, with net obligations at Rs. 516.83 lakhs as of December 31, 2025.
- Related party transactions included substantial royalty payments, dividends, and reimbursements, with Vesuvius Plc and Foseco Overseas Limited prominently involved.
- Contingent liabilities amounted to Rs. 366.57 lakhs as of December 31, 2025, covering excise duties, legal cases, and bank guarantees.