AIA Engineering subsidiary Welcast Steels to close Bangalore plant

Welcast Steels Limited (WSL), a subsidiary of AIA Engineering Limited, will permanently close its manufacturing facility in Bengaluru, effective December 15, 2025. The decision, made at a board meeting on October 15, 2025, stems from the plant's aged technology, high production costs, and consistent decrease in capacity utilization, rendering operations economically unviable.

The closure impacts a unit that contributed ₹84.50 crores (1.97%) to the listed entity's turnover and ₹39.72 crores (0.57%) to its net worth in the last financial year. AIA Engineering stated there would be no adverse effect on the company due to the closure, as it possesses sufficient surplus capacity to meet requirements. The facility, established in 1972, manufactured hi-chrome grinding media for cement, mining, and thermal power plants.