Foseco India to acquire 75% stake in Morganite Crucible

25 Aug 2025 , 09:39 AM

Foseco India Ltd has signed a share purchase agreement to buy out its promoters’ stake in Morganite Crucible (India) Ltd (MCIL). The deal covers 42 lakh shares, representing 75% of MCIL’s voting share capital on a fully diluted basis. The shares are being acquired at ₹1,557 each, taking the total value of the transaction to about ₹653.94 crore.

MCIL, set up in 1986, makes crucibles and other consumables used in metal melting and handling. Its product line caters to foundries and other industries where high-quality melting solutions are required.

The company has reported steady revenue growth in recent years. According to its audited accounts, MCIL posted revenue of ₹182.15 crore in FY25. This is up from ₹174.03 crore in FY24 and ₹159.42 crore in FY23.

The acquisition will give Foseco India control of a business that is closely aligned with its own operations in the foundry consumables space, strengthening its product portfolio and market reach.

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