Gallard Steel Limited reported a strong operational and business performance for FY26 from Indore on 14 May, citing a 50 per cent increase in profit after tax compared with the previous year. The company attributed the performance to robust demand across railway, defence, power generation and industrial engineering sectors and high capacity utilisation. Management noted that consistent execution and product quality underpinned the fiscal year outcome and supported visibility for future growth.

The company's existing manufacturing facilities operated at approximately 98 per cent capacity utilisation, reflecting efficient production management and customer demand. Casting capacity is being expanded from 2,400 t per annum to 6,100 t per annum to support anticipated volumes, while machining capacity will increase from 7,500 units per annum to 10,000 units per annum to enhance throughput. These measures form part of a broader investment programme to strengthen manufacturing scalability and execution capabilities.

Management indicated the new expansion facility is expected to commence operations by June 2026 and that the enlarged capacities are expected to reach near 70 to 80 per cent utilisation by March 2027. The expansion targets critical segments including traction motor components, bogie assembly components, axle mounting tubes, turbine sub assemblies and industrial machinery components. The company said the initiatives will deepen its presence in high value engineering segments and broaden customer diversification.

Gallard Steel operates integrated manufacturing facilities with in house casting and machining capabilities and holds Class 'A' RDSO approval for its foundry, positioning it to serve demanding applications. Management reaffirmed commitment to capacity expansion, operational discipline and timely delivery as pillars of long term strategy while acknowledging that forward looking statements are subject to market and regulatory risks. The company plans to monitor utilisation and execution closely as it scales up production and pursues growth across key sectors.