Alicon Castalloy

What Alicon Castalloy does

Alicon Castalloy Limited (NSE: ALICON, BSE: 531147) is an Indian publicly listed aluminium casting manufacturer headquartered in Pune, Maharashtra, that traces its casting lineage to 1969 when Atlas Automotive Components collaborated with Karl Schmidt of Germany on India's first low pressure die casting (LPDC) technology transfer. The group today operates 13 manufacturing plants across four strategic locations — Shikrapur (Pune), Chinchwad (Pune), Binola (Gurgaon) in India, and Zarnovica/Vienna in Europe via Illichmann Castalloy — employing roughly 3,864 people, including a 200-person engineering team. Its manufacturing portfolio spans three casting technologies: Low Pressure Die Casting (85 machines), Gravity Die Casting (72 machines), and Sand Casting, supporting cylinder heads, aluminium wheels, transmission parts, structural components, defence castings, energy/locomotive parts, and EV battery housings. The group's vertically integrated value chain encompasses in-house design engineering through Silicon Meadows, dedicated tool rooms, product validation labs, and machine shops at each major facility.

The company's commercial model is B2B-only, supplying finished castings directly to automotive OEMs, tier-one component manufacturers, and government/industrial customers under long-term contracts, with pricing established per quote on volume, complexity, and contract terms. Customers include Maruti Suzuki, Honda Cars India, HMSI, Royal Enfield, KTM, Tata Motors, BEML, ZF, Ather Energy, European OEMs, the Indian Ministry of Defence, German Railway Ministry, and Siemens; this diversification spans 16 operational segments. Revenue mix is anchored by 42% share of India's cylinder-head market, where 1 in 2 Indian motorcycles is powered by Alicon heads. Group turnover crossed Rs 1,000 crore in FY18 and reached Rs 1,775.73 crore in FY26 (~3% YoY growth), while FY26 net profit compressed 25% to Rs 34.44 crore due to an exceptional provision. Strategic positioning is pivoting from ICE-only to e-mobility (battery housings, motor components) and defence/aerospace castings, leveraging the 8-step proprietary process, Enkei-imparted Japanese manufacturing methodology, and IATF 16949 / ISO 9001 / ISO 14001 / ISO 45001 certifications.

Name

Alicon Castalloy

Legal name

Alicon Castalloy Limited

Website

https://alicongroup.co.in

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Alicon Castalloy is a publicly listed Indian aluminium casting manufacturer serving automotive OEMs (2-wheelers, passenger cars, commercial vehicles), e-mobility, defence, energy and locomotive customers via Low Pressure, Gravity and Sand Die Casting across 13 plants in India and Europe.

Ownership category

akta.pro rank

Product category

Automotive Aluminium Castings

NAICS

Aluminum Foundries (except Die-Casting) (331524), Nonferrous Metal Die-Casting Foundries (331523)

SIC

Nonferrous Foundries (Castings) (3360)

akta.pro primary industry

Aluminum Casting & Ingot/Billet/Slab Production (IMAKACAE)

akta.pro secondary industries

Aluminum Value-Added Components (Automotive, Aerospace, Packaging, Building Systems) (IMAKACAM), Aluminum Fabrication & Finishing (Machining, Anodizing, Coating) (IMAKACAI)

Keywords

• Aluminium die casting
• Automotive castings
• Low pressure die casting
• Gravity die casting
• Sand casting

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Aluminium Casting Components Manufacturing: Manufacture and supply of aluminium alloy castings including cylinder heads, wheels, transmission components, and structural parts. Revenue is generated through long-term supply contracts with automotive OEMs and component manufacturers. The company offers full-system-solutions from prototype to serial production.
2. E-Mobility Components: Supply of aluminium casting components for electric vehicles including battery housings, motor components, and e-control systems for electric two-wheelers, passenger cars, and commercial vehicles.
3. Non-Automotive Components: Supply of castings for defence, energy, locomotive, aerospace, marine, and infrastructure sectors. Includes specialized components for railway braking systems, defence tanks, and power generation equipment.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Alicon Castalloy manufactures aluminium castings for automotive and industrial customers using processes such as Low Pressure Die Casting (LPDC), Gravity Die Casting (GDC), and sand casting. Its products include aluminium cylinder heads, transmission components, e-mobility parts, and defence castings, sold primarily to OEMs under engineering contracts.

Product overview

Alicon Castalloy is a consortium of aluminium casting companies offering full-system solutions across the entire value chain. The group operates through four main entities: Alicon Castalloy Ltd. (flagship listed company), Atlas Castalloy Ltd., Silicon Meadows Engineering Services Ltd., and Illichmann Castalloy (Austria/Slovakia). Their core products include aluminium cylinder heads (dominating 42% of India's market), aluminium wheels, and complex castings for automotive and non-automotive sectors. The company operates 13 manufacturing plants across 4 strategic locations (three in India, one in Slovakia) using Low Pressure Die Casting, Gravity Die Casting, and Sand Casting technologies. Their non-automotive portfolio spans defence, energy, locomotive, aerospace, marine, and medical sectors. The company has also strategically entered the e-mobility segment with battery housings and components for electric vehicles. Their proprietary Eight-Step Process and in-house Design Engineering Services enable them to deliver components from prototype to serial production with guaranteed quality and on-time delivery.

Differentiator

Problem solved

Functional benefit

Products and services

• Aluminium Cylinder Heads

Quantifiable outcome

• 42% market share in India's cylinder head market
• +5 more outcomes

Named customers25 records

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core, minor and foundational.

• Illichmann Castalloy (Austria)coreStrategic or Co-development Partner · 1 January 2010Illichmann Castalloy based in Austria merged into the Alicon group in 2010, followed by Illichmann SRO in Slovakia. This expanded Alicon's European footprint with manufacturing facilities in Vienna and Zarnovica.
• Atlas CastalloycoreStrategic or Co-development Partner · 1 January 2009Atlas Castalloy merged into the Alicon Group in 2017, previously established in 1967 by Mr. Charanjit Rai. The acquisition added 6,000 MTPA capacity at Chinchwad and customers including Greaves Cotton, Royal Enfield, Piaggio, and defence sector.
• Enkei CorporationcoreTechnology or Integration · 1 January 1998Technical collaboration with Enkei Corporation (Japan) started in 1998 for advanced manufacturing processes and continuous improvement methodology. This partnership strengthened Alicon's processes and practices using Japanese manufacturing acumen. In 2002, Enkei increased its stake in the company by buying Sifa SA shares and the name was changed to Enkei Castalloy.
• Silicon Meadows Engineering ServicescoreStrategic or Co-development Partner · 1 January 1996Silicon Meadows Engineering Services was established in 1996 to cater to tool design and manufacturing support. In 2009, it was reconstituted as Silicon Meadows Engineering Services Ltd to serve engineering and design needs of both internal and external clients.
• Sifa SA (France)minorStrategic or Co-development Partner · 1 January 1995Sifa SA France invested in Pegasus Castalloy in July 1995, taking a minority stake. In 2002, Sifa SA's shares were bought by Enkei Corporation, ending this partnership.
• Karl Schmidt (Germany)foundationalTechnology or Integration · 1 January 1969Collaborated with Karl Schmidt of Germany in 1969 for India's first low pressure die casting technology transfer. This established Alicon as pioneers in LPDC technology in India.

Scale indicators17 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Nemak: Mexico-headquartered global leader in aluminium powertrain and EV structural castings supplying major OEMs across the Americas and Europe. Useful comparable for Alicon's ambitions in EV battery housing and structural castings at global scale.
• Bharat Forge: India's largest forging-led auto component group with aluminium casting exposure. Overlaps with Alicon on supplying complex cast/forged structural aluminium components to global and Indian automotive OEMs.
• GF Casting Solutions (Georg Fischer): Swiss/global iron and aluminium casting business supplying automotive and industrial customers in Europe. Most relevant global comparable for Alicon's European footprint via Illichmann Castalloy in Austria/Slovakia.
• Enkei Corporation: Japanese global leader in aluminium wheels and a historical technical-collaboration partner of Alicon (1998 onwards). Comparable in aluminium casting/wheel manufacturing and global OEM footprint.
• Mahindra CIE Automotive: Large Indian-listed automotive component conglomerate spanning castings, forgings and machining across multiple substrates and geographies. Broader portfolio than Alicon, but overlapping Indian OEM-customer footprint and process technologies.

Direct peers

• Hi-Tech Gears: Indian-listed automotive drivetrain and precision component manufacturer with aluminium content for passenger-car and commercial-vehicle OEMs. Comparable Indian Tier-1 supplier exposure with machining and aluminium-component overlap.
• Endurance Technologies: Indian-listed aluminium die-casting and suspension manufacturer supplying two-wheelers and passenger vehicles to Hero, Bajaj, HMSI and other Alicon customers. Highly comparable on geography, product mix (aluminium castings for two/three/four-wheelers) and Indian automotive OEM orientation.
• Sundaram Fasteners (TVS Group): TVS-Group Indian-listed manufacturer of automotive fasteners and precision components with significant aluminium content for two-wheelers and passenger vehicles. Comparable Indian OEM orientation and machining/casting scope.
• Sandhar Technologies: Indian-listed automotive component manufacturer with aluminium die-casting and machined assemblies serving two-wheeler and four-wheeler OEMs. Comparable customer base and aluminium-casting process overlap with Alicon.
• Rico Auto Industries: Indian-listed aluminium die-casting and precision machined components supplier to automotive OEMs. Direct overlap with Alicon in LPDC/GDC aluminium components for two-wheelers, passenger cars, and commercial vehicles across India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/alicon-castalloy-ltd

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alicon Castalloy