Universal Autofoundry Ltd is a foundry that pours molten iron into sand moulds to make the metal skeletons inside tractors, trucks, and bulldozers - and then machines those rough castings into finished parts ready for the assembly line. It began as a two-man partnership in Jaipur in 1972 and has spent five decades adding one capability at a time: switching from coke-fired to electric furnaces in 1995, learning to make the tougher ductile iron in 1999, starting direct exports to Europe in 2003, and installing a succession of automated high-pressure moulding lines that have taken capacity from 10,000 to 42,000 tonnes a year. The recurring approach is to buy the best moulding equipment from Japan and Europe, integrate machining under the same roof so customers receive a component they can bolt straight on, and then use the cash flows from one expansion to fund the next - most recently adding aluminium casting to serve the same OEM customers with lighter-weight parts. # Business segments A single integrated foundry business - making iron castings, machining them, and now adding aluminium - sold to the same set of tractor, truck, and construction-equipment manufacturers, with every expansion built on the customer relationships and cash flows of the core operation. ## 1. Ferrous casting and machining: the company's entire operating engine **It pours grey and ductile iron into three automated moulding lines, then machines the resulting castings in-house into ready-to-fit components - selling each one by weight and piece to OEMs who put them into tractors, trucks, and earth-movers.** - **Three moulding lines, three weight ranges** - Unit I (SINTO, Japan) handles 5-25 kg parts, Unit II (DISA FLEX, 40-150 kg) makes the heaviest castings, and Unit III (RHINO, 20-50 kg) fills the middle, together giving the company a rated capacity of 42,000 tonnes per year across roughly 22,000 square metres of built-up plant. - **Cast, then machined under one roof** - with 48 in-house machine tools including horizontal and vertical machining centres and CNC lathes, the company delivers components that are bored, faced, and threaded to the customer's specification, so the OEM skips a separate machining step and lead times shrink. - **Paid per component, tracked per kilogram** - revenue is recognised when the part is delivered, and management watches profitability through an EBITDA-per-kg lens, which means the business lives or dies on how efficiently it converts pig iron, scrap, and power into finished castings. - **The customer list reads like a who's-who of heavy vehicles** - in tractors it supplies Escorts Kubota Limited (formerly Escorts Limited), Sonalika, AGCO, New Holland Agriculture, Mahindra, and Kubota; in commercial vehicles Ashok Leyland, Volvo, Renault Trucks, CNH Industrial, and VE Commercial Vehicles; in construction equipment JCB and Dana, with more than two-thirds of revenue historically coming from the domestic tractor and truck industries. - **A railway licence opens a new door** - two of the three units hold A-class foundry approval from RDSO, the Indian Railways' standards body, which qualifies the company to bid for railway component supply and diversifies it beyond the cyclical auto sector. ## 2. Non-ferrous aluminium casting: the lightweight bolt-on **A newly installed aluminium foundry sits inside the same Unit III building, making lighter components for the same OEM customers who already buy iron castings - a margin-accretive add-on rather than a separate business.** - **Same customers, lighter metal** - the aluminium line was built specifically to serve the company's existing base of tractor, truck, earth-moving, and construction-equipment manufacturers who are increasingly looking for weight reduction without changing suppliers. - **Two processes, one shed** - a 400-tonne high-pressure die-casting (HPDC) line and a gravity die-casting (GDC) setup have been installed at Unit III in Reengus, with machine installation complete and customer samples now under validation. - **No revenue yet, no separate factory** - the aluminium capability is a line within an existing plant, not a standalone unit, and it is still in the sample-approval stage, meaning it is a bet on future demand rather than a current contributor. # Group structure and partners **A family-led, single-entity public company with no subsidiaries - but a web of related-party foundries run by relatives and a new outsourcing deal that hands the machine shop keys to an outside specialist.** - **No subsidiaries, one listed entity** - Universal Autofoundry Ltd stands alone on the BSE Main Board with no joint ventures or associate companies; it previously held a 20% stake in Indian Metalfoundry Institute Private Limited but sold it in FY21. - **Management is the founding family** - Chairman and Managing Director Vimal Chand Jain (an electrical engineer with over 50 years in foundries) runs the company alongside three whole-time directors handling finance, marketing, and operations. - **Related-party foundries operate in parallel** - enterprises with common key management - Precision Autocastings, KVG High Tech Auto Components, Jain Autocastings, and Unicast - buy from, sell to, and do job work for the company, and one of them (Precision Autocastings) filed an insolvency petition over alleged unpaid dues of about ₹2 crore, which the NCLT dismissed in the company's favour in January 2026. - **A competitor was once an insider** - a former promoter-group member now runs an independent foundry targeting the same customers and products, creating pricing pressure and retention risk that the company flags as a material threat. - **Machine shop handed to Kranti Industries** - from January 2026, both existing machine shops are being consolidated at the Unit III plant and leased to Kranti Industries, which will operate them exclusively to machine UAL's castings under a seven-year contract with a three-year lock-in, freeing the company from running its own machining operations day-to-day.