KVS Castings Limited IPO

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KVS Castings Limited, originally established as a partnership firm “Kashi Enterprises” in 2005. It is part of the KVS Premier Group and specializes in manufacturing high-quality ferrous castings, including cast iron and ductile iron products, serving diverse industrial sectors.

Business Operations

The company offers comprehensive casting solutions under one roof with a portfolio of over 150 products, ranging from automotive components to railway parts, agricultural machinery castings, and heavy machinery. It caters to industries including automobiles, railways, heavy machinery, energy, infrastructure, and agricultural machinery.

Product Portfolio

1. Automobile Products: Precision-engineered castings for engine components, transmission systems, chassis parts, and brake systems for two-wheelers, passenger cars, commercial vehicles, and electric buses. Key products include gear shifters, oil filters, brake drums, alternator brackets, PTO housings, steering housings, suspension brackets, and water pump components.

2. Railway Products: Castings for critical railway components such as air brake system assemblies, bogie frames, buffers, control chambers, and shock-absorbing system components.

3. Agricultural/Farm Machinery Products: Castings for tractor braking systems, PTO housings, engine manifolds, transmission bearing housings, and water pump components, enhancing efficiency in farm operations.

4. Heavy Engineering & Energy Products: Robust castings for construction machinery, rolling mills, turbines, generators, and power plant components, ensuring durability in demanding environments.

Competitive Strengths

i) Diversified Customer Base: Long-standing relationships with OEMs and Tier-1 clients across automotive, railways, tractors, and off-highway vehicles.
ii) Comprehensive Product Portfolio: Capability to produce over 150 casting products across various grades and sizes, with production flexibility from 50 to 90,000 parts per month.
iii) Strategic Location: Manufacturing plant in Kashipur, near key automotive hubs, ensuring reliable raw material supply and easy distribution.
iv) In-House Tooling and Machining: Advanced CAD/CAM/CAE facilities, CNC and VMC machines for rapid tooling, high-quality production, and cost efficiency.
v) Experienced Workforce: Skilled management and technical team with deep expertise in foundry and casting processes, supporting consistent growth and product quality.

KVS Castings Limited combines a strong technical foundation, diversified product offerings, strategic operational capabilities, and a robust customer base to maintain a leadership position in the casting industry across multiple sectors in India.

Objects of the KVS Castings Limited IPO:

Company intends to utilize the net proceeds of the Issue to meet the following objects: - 1. To meet out the Capital Expenditures (₹21.5 cr) 2. To meet out the General Corporate Purposes

KVS Castings Limited IPO Details:

Open Date: Sep 26 2025
Close Date: Sep 30 2025
Total Shares: 49,70,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 27.83 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 53-56 Per Equity Share
Listing At: BSE SME
Listing Date: Oct 06 2025

Promoters And Management:

1. Mr. Arpan Jindal – Promoter & Managing Director: Aged 41, Arpan Jindal has been a Director of the company since its incorporation and was appointed Managing Director on August 10, 2024. He holds an MBA from Amity University and has over 16 years of experience in management and the castings industry. Prior to this role, he was a partner at Kashi Enterprises, established in 2005. He oversees the overall management and operations of company. 2. Mr. Devendra Kumar Agarwal – Promoter & Non-Executive Director: Aged 68, Devendra Kumar Agarwal was appointed Non-Executive Director on July 10, 2019. He holds a degree in Chemical Engineering from Kanpur University and brings 33 years of experience in the castings industry, including auto components and other castings. He has been instrumental in leading the KVS Premier Group to significant growth and progress. 3. Ms. Rekha Agarwal – Promoter & Non-Executive Director: Aged 63, Rekha Agarwal was appointed Director on June 17, 2024. She holds a Master of Arts in English Literature from Rohilkhand University, Bareilly. She has over six years of experience managing the company’s CSR activities and currently serves as the Chairperson of KVS Premier Foundation

Financials of KVS Castings Limited IPO:

Particulars FY2024-2025 FY 2023-2024 FY 2022-2023
Revenue from Operations 50.10 54.15 57.26
EBITDA 9.84 9 7.51
EBITDA Margins 19.65% 16.62% 13.12%
PAT 6.62 5.95 4.85
PAT Margins 13.21% 10.99% 8.47%
ROCE 23.78% 31.64% 30.66%
Debt to Equity Ratio(In Times) 0.11 0.02 0.25
Operating Cash Flows 10.53 5.11 3.23

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
KVS Castings Limited 50.10 19.65% 13.21% 23.78% 0.11 105.01 15.86
Universal Auto Foundry Limited 193 9% 1.04% 5.69% 0.7 85 43.2
Thaai Casting Limited 122 24% 9.84% 15.60% 1.12 273 24.7

Lead Manager of KVS Castings Limited IPO:

  1. Narnolia Financial Services Ltd

Registrar of KVS Castings Limited IPO:

  1. Skyline Financial Services Private Ltd

Discussion on KVS Castings Limited IPO:

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