Investment & Precision Casting

What Investment & Precision Casting does

Investment & Precision Castings Limited (IPCL) is a Bhavnagar, Gujarat-based publicly listed (BSE: invprecq/504786) precision investment casting foundry established in 1975. It operates three manufacturing plants in Bhavnagar with combined capacity of 3,060 tonnes per annum, ~33,000 sq. meters of land, more than 46 CNC machines, and capabilities spanning lost-wax investment casting, vacuum induction melting (Nickel, Cobalt, and Stainless-steel superalloys), robotic shelling, Hot Isostatic Pressing (HIP), 3D printing (Voxeljet VX500), in-house NDT (450 KV digital radiography, NADCAP-certified), heat treatment, CNC machining, and bar-stock component manufacturing. The company pours over 150 alloy grades (with claimed capability for 560+) and has developed in-house processes including injected ceramic core technology and a Block Mould process for large castings up to 330 Kg piece weight.

IPCL serves industrial OEM customers across eight verticals: aerospace and defense (with CEMILAC/DRDO Type Approval), automotive (Bajaj Auto, Mahindra & Mahindra, Maruti Udyog, BEHR India), power generation, pumps and valves, medical implants, electrical and instrumentation, general engineering, pneumatics and automation, and artisan castings. Its go-to-market combines direct enterprise sales via website RFQs and vendor registration, a network of trained agents and distributors across India, and international trade-show participation (Hannover Fair, Midest Paris, Automotive Engineering Exposition Japan). Pricing is quote-based on custom specifications and volumes.

Revenue crossed INR 100 Crores in FY 2017-18 and INR 150 Crores in FY 2022-23. The company holds ISO 9001:2015, IATF 16949:2016, ISO 14001:2015, OHSAS 45001:2018, EN 9100, NADCAP (NDT), NABL ISO/IEC 17025:2017, PED 97/23/EC, AD 2000-Merkblatt W0, and Export House certifications. Ancillary operations include two wind turbines at Lamba, Jamnagar, established 2006, for in-house power generation. Strategic technology collaborations were established with Arwood International (USA, 1975), Zollern Group (Germany, 1983), and Associated Foundries Engineering Co. (Japan, 1987).

Name

Investment & Precision Casting

Legal name

Investment & Precision Castings Limited

Website

https://ipcl.in

Company type

Public

Founded year

1975

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Investment & Precision Castings Limited (IPCL) is a Bhavnagar-based, publicly listed precision investment casting foundry manufacturing lost-wax, vacuum, and aluminum castings, plus machined components, for aerospace, defense, automotive, power, medical, and industrial OEMs across India and export markets.

Ownership category

akta.pro rank

Product category

Precision Castings

NAICS

Steel Investment Foundries (331512), Aluminum Foundries (except Die-Casting) (331524), Other Nonferrous Metal Foundries (except Die-Casting) (331529)

SIC

Nonferrous Foundries (Castings) (3360)

akta.pro primary industry

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

Keywords

• Precision castings
• Investment castings
• Lost wax castings
• Aerospace castings
• Automotive castings

Headquarters

HQ city

Bhavnagar

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Precision Investment Castings Manufacturing: IPCL generates revenue through the manufacturing and sale of precision investment castings, lost wax castings, vacuum castings, and machined components. They serve diverse industries including aerospace, automotive, defense, power plants, medical, and general engineering with custom components ranging from 10 grams to 200 kg piece weights.
2. Precision Machined Components: CNC machining services for bar stock components in various materials including Steels, Aluminium, Nickel, Copper and Cobalt based alloys, delivered through a fully air-conditioned shop of 420 sq. meters with 21 CNC machines.
3. Wind Power Generation: IPCL operates wind power plants as ancillary business, established at Lamba, Dist. Jamnagar with two wind mills for power generation.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Investment & Precision Castings Limited (IPCL) is a custom manufacturer of investment (lost-wax) precision cast components in ferrous and non-ferrous alloys. The company operates three production plants in Bhavnagar, Gujarat, India, with a combined installed capacity of 3,060 tonnes per annum, supplying near-net-shape cast parts to OEMs in aerospace, automotive, defense, power generation, medical and general engineering sectors.

Product overview

IPCL is a precision casting manufacturing company offering a comprehensive portfolio of investment casting solutions. The core offerings include Lost Wax (Feinguss) investment castings, vacuum castings, and aluminium castings, complemented by value-added services such as CNC machining, 3D printing, hot isostatic pressing (HIP), and heat treatment. The company serves diverse industry verticals including aerospace & defense, automotive, power plants, pumps & valves, medical implants, and general engineering. IPCL operates as a one-stop-shop, capable of supplying fully machined, ready-to-assemble components from design through finished parts, with in-house capabilities spanning wax pattern production, shelling, melting, heat treatment, CNC machining, and comprehensive quality control including NABL and NADCAP certified testing facilities.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Thin-walled castings as low as 2mm achievable
• +5 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Five partnerships are on record, tiered minor and core.

• European Foundry AllianceminorStrategic or Co-development Partner · 1 January 2000Strategic alliance with a European foundry established in 2000 for technology sharing and market expansion in European markets.
• Associated Foundries Engineering Co. Ltd., JapancoreTechnology or Integration · 1 January 1987Technical License Agreement signed in 1987 with Associated Foundries Engineering Co. Ltd., Japan for producing very large piece weight investment castings. This collaboration enabled IPCL to develop capabilities for casting heavier components up to 330 kg piece weight.
• Furstlich Hohenzollernsche Huttenverwaltung (Zollern Group), GermanycoreTechnology or Integration · 1 January 1983Technical Collaboration Agreement signed in 1983 with FHH (Zollern Group), Germany. This partnership enhanced IPCL's metallurgical expertise and process capabilities, contributing to their development of high-quality investment castings for demanding applications.
• Arwood International, USAcoreTechnology or Integration · 1 January 1975Technical collaboration established in 1975 with Arwood International, USA for investment casting technology, marking IPCL's foundation as a pioneer in India's investment casting industry. This collaboration provided the initial technical expertise and knowledge transfer that enabled IPCL to establish its manufacturing capabilities.
• BSE IndiaminorOthersPublicly listed company (Stock Code: invprecq/504786) on BSE India for investor access and market transparency.

Scale indicators5 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• Mahindra CIE Automotive: Mahindra CIE Automotive (BSE: MAHINDCIE) is a major Indian-listed auto component manufacturer with precision casting and machining operations. Comparability: Indian-listed precision component supplier with overlapping automotive customer base and similar tier-1 supplier profile.
• Howmet Aerospace: Howmet Aerospace (NYSE: HWM) is a global leader in investment castings for aerospace and industrial markets, with significantly larger scale than IPCL. Comparability: same core investment casting process, but operates across multiple product categories (fasteners, engine components, structures) at multi-billion-dollar scale.
• Bharat Forge: Bharat Forge (NSE/BSE: BHARATFORG) is India's largest listed precision engineering and auto component company with significant casting and machining capabilities. Comparability: Indian-listed precision component manufacturer serving automotive, aerospace, and industrial end markets, though predominantly forging-based.
• Precision Castparts Corp (Berkshire Hathaway): PCC is a Berkshire Hathaway subsidiary and historically the dominant global investment casting supplier for aerospace and industrial gas turbines. Comparability: same investment casting core, but vastly larger scale and broader product portfolio.

Direct peers

• Metaltek International: Metaltek International is a US-based specialty metal foundry group that includes investment casting capabilities. Direct comparability: overlap in aerospace, defense, and industrial casting production using investment casting and related processes.
• CIREX Castings: CIREX (Netherlands) is a dedicated investment casting foundry producing precision castings in ferrous and non-ferrous alloys for industrial and aerospace customers. Direct comparability: same lost-wax process, similar scale, similar alloy breadth.
• Doncasters Group: Doncasters (UK, owned by Carlyle Group) is a global precision castings manufacturer with deep investment casting expertise serving aerospace, industrial gas turbine, and automotive markets. Direct comparability: shared aerospace-focused investment casting heritage, similar alloy portfolio, and overlapping Indian OEM customer base.
• Signicast (Form Technologies): Signicast is a leading lost-wax investment casting foundry in North America, part of Form Technologies. Direct comparability: same lost-wax process, similar mix of aerospace/defense and industrial customers, and quantitative CNC machining capabilities.
• Impro Industries: Impro Industries (China/Hong Kong listed) is one of the largest independent investment casting foundries globally, producing precision castings in similar alloy ranges (stainless, carbon, nickel, cobalt) for aerospace, automotive, and industrial customers. Direct comparability: same lost-wax process, overlapping end markets, and similar multi-alloy capability.

Regional players

• Hindusthan Engineering & Industries: Hindusthan Engineering & Industries is an Indian precision components manufacturer with foundry operations serving industrial and automotive customers. Comparability: Indian regional player in related precision metal components, though broader portfolio than IPCL's investment casting focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

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 Investment & Precision Casting