Cosmic Crf Ltd

BSE: 543928

₹ 891.1-5.16%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 847 crWebsite: www.cosmiccrf.comUpdated: 27 Oct 2026

About

Cosmic CRF Limited makes precision cold-rolled formed (CRF) steel sections and engineered products for railways, infrastructure and industrial uses. It also makes sheet piles, crash barriers, poles, springs and forgings, and offers galvanisation. As of FY26 the group has 133,600 MT of capacity across 4 manufacturing facilities in West Bengal, and it reported FY26 revenue of Rs 716.6 Cr.^[1][2]

Business units

Cosmic CRF (standalone): principal plant at Singur, West Bengal, making CRF products, fabricated products and engineered steel solutions; capacity 55,000 MT as of FY26.^[1]
Subsidiary N S Engineering Projects (NSEPPL): Howrah plant on 6.13 acres, 65,000 MTPA as of FY26, making CRF sections, sheet piles, high masts, octagonal poles and crash barriers.^[1]
Subsidiary Cosmic Springs & Engineers (CSEL): facilities at Jangalpur, West Bengal for helical springs, CASNUB springs, fabrication and forging; capacity 13,600 MT as of FY26.^[1]
In FY26 the company shifted towards the infrastructure segment, expecting railway demand to slow, and moved its production mix towards mild steel and sheet piles.^[3]

Products

Railway applications include wagon structures, underframe components, body and side structures, stanchions, reinforcements and door components.^[1]
Products include stainless and mild steel CRF sections for wagons, Cold Formed Z Sheet Piles (E250 grade), fabricated MS Beams, hollow MS Square Bar, and helical and Casnub railway springs.^[4]
Product mix moved from 80% stainless steel / 20% mild steel in FY24 to about 25-30% stainless / about 70% mild steel in FY25.^[4]
The company holds RDSO approvals and has R&D and testing capabilities; in FY25 it received RDSO approval for BOXN/BOXNR wagon components.^[1][5]
The RDSO licence for railway springs was expected by June 2026.^[3]

Capacity and operations

Group installed capacity was 1,33,600 MTPA in FY26 after the acquisitions of N S Engineering Projects and Cosmic Springs.^[1]
NSEPPL grew from 12,500 MT of installed capacity at its NCLT acquisition in June 2024 to 65,000 MTPA within 15 months. It produced 56,380 MT in FY26, compared with 15,000 MT in FY25.^[3]
The springs unit, acquired through a business transfer agreement, can make 14,400 spring sets per annum.^[4]
Products are made mainly from iron and steel, so steel price changes affect input costs.^[1]
The company (standalone) had 41 employees in FY26.^[1]

Key operating numbers

Consolidated production was 1,06,370 MT in FY26, compared with 55,941 MT in FY25.^[3]
Consolidated capacity utilisation was about 80% in FY26.^[3]
Standalone capacity utilisation was 86% in FY25, compared with 80% in FY24.^[4]
Order visibility rose from Rs 550 crore to Rs 760 crore as of FY26.^[1]

Customers and markets

Customers include railway wagon manufacturers, rolling stock producers, EPC contractors, infrastructure developers, defence suppliers and industrial OEMs.^[1]
A wheelset shortage cut wagon offtake from about 3,400-3,600 wagons a month to 950-970 wagons a month over Q3-Q4 FY25.^[4]
From FY25, the company targets a 15-16% share of cold-rolled form products, in an addressable market of about 2.25 Mn MT, over three years.^[4]
The FY26 annual report names export market development as a focus area.^[1]

Expansion and capex

Group capacity is planned to rise from 133,600 MT to 174,600 MT by FY28: Cosmic CRF to 65,000 MT, NSEPPL to 85,000 MT and CSEL to 24,600 MT.^[1]
The CSEL forging unit was scaled up from 6,800 MTPA to 11,000 MTPA, with capex of about Rs 45 Cr. Commercial production was expected about 9 months after Q4 FY26.^[4]
Planned acquisition of wagon maker Amzen Transportation through NCLT: project cost about Rs 400 Cr, including about Rs 200 Cr of term debt; initial capacity of 3,600 wagons a year.^[3]
The Amzen plant is also planned to make 7,500-10,000 sea freight containers and to pursue wagon products for the defence sector.^[3]
The company plans to raise its NSEPPL stake to 100% from 74%. It also plans to acquire a liquid metal unit after the Amzen acquisition is complete.^[3]
FY29 vision: 350,000 MTPA of capacity and Rs 3,500 Cr of revenue.^[3]

Recent developments

25 Sep 2026: received a Rs 1329.80 lakh order from a Kolkata infrastructure company for 1,650 MT of Cold Formed Z Sheet Pile (12m, E250 grade), to be delivered within 6 months.^[6]
25 Sep 2026: NSEPPL received four orders worth Rs 1302.45 lakh in total from a Kolkata infrastructure company for Cold Formed Z Sheet Piles.^[7]
22 Sep 2026: NSEPPL received a Rs 250.46 lakh order for 150 MT of fabricated MS Beams and 150 MT of hollow MS Square Bar, for delivery within 2 weeks.^[8]
December 2025: Infomerics assigned the company an IVR BBB+ rating with a Stable outlook.^[1]
FY26: received Rs 225.15 lakh on conversion of 18,600 warrants, and 18,600 shares were issued.^[1]
The Supreme Court declared the company eligible under Section 29A of the IBC and reinstated it as the H1 bidder for Amzen. As of Q4 FY26, it was awaiting a letter of intent from the creditors' committee.^[3]
The company planned to apply for a mainboard listing in July 2026. It may raise about Rs 200 Cr of equity in FY28 and has committed to no dilution until March 2028.^[3]

Market Cap

₹847 Cr

High / Low

₹1,520 / 550

Stock P/E

17.3

Price / Book

2.1

Book Value

₹486

EPS

₹54.9

No. of Shares

0.92 Cr

ROCE

13.6%

ROE

11.5%

OPM

10.2%

Debt / Equity

0.30

Sales

₹717 Cr

Net Profit

₹51 Cr

Promoter holding

56.5%

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