Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 17.71 | 15.05 | 17.33 | 17.02 | 20.53 | 18.98 | 19.60 | 20.61 | 17.11 | 20.17 | 22.51 | 21.83 |
| Expenses | 16.52 | 14.05 | 16.13 | 16.01 | 19.51 | 17.94 | 18.64 | 19.75 | 16.36 | 19.32 | 20.74 | 20.14 |
| Operating Profit | 1.19 | 1.00 | 1.20 | 1.01 | 1.02 | 1.04 | 0.96 | 0.86 | 0.75 | 0.85 | 1.77 | 1.69 |
| OPM % | 6.72% | 6.64% | 6.92% | 5.93% | 4.97% | 5.48% | 4.90% | 4.17% | 4.38% | 4.21% | 7.86% | 7.74% |
| Other Income | -0.22 | -0.14 | 69.36 | 0.04 | 0.26 | 0.09 | 0.20 | 0.14 | 0.12 | 0.06 | 0.22 | 0.09 |
| Interest | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.14 | 0.12 | 0.12 | 0.12 | 0.12 |
| Depreciation | 0.46 | 0.46 | 0.47 | 0.47 | 0.43 | 0.46 | 0.48 | 0.46 | 0.45 | 0.28 | 0.63 | 0.49 |
| Profit before tax | 0.39 | 0.28 | 69.97 | 0.46 | 0.73 | 0.55 | 0.56 | 0.40 | 0.30 | 0.51 | 1.24 | 1.17 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit | 0.40 | 0.28 | 69.96 | 0.46 | 0.73 | 0.56 | 0.55 | 0.39 | 0.30 | 0.51 | 1.24 | 1.17 |
| EPS in Rs | 0.20 | 0.14 | 34.42 | 0.23 | 0.36 | 0.28 | 0.27 | 0.19 | 0.15 | 0.25 | 0.61 | 0.58 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 38.77 | 32.55 | 42.46 | 49.77 | 32.80 | 27.30 | 40.34 | 58.46 | 68.32 | 76.13 | 80.41 | 81.62 |
| Expenses | 42.71 | 35.37 | 45.04 | 48.99 | 34.95 | 38.00 | 39.31 | 54.60 | 63.32 | 72.10 | 76.18 | 76.56 |
| Operating Profit | -3.94 | -2.82 | -2.58 | 0.78 | -2.15 | -10.70 | 1.03 | 3.86 | 5.00 | 4.03 | 4.23 | 5.06 |
| OPM % | -10.16% | -8.66% | -6.08% | 1.57% | -6.55% | -39.19% | 2.55% | 6.60% | 7.32% | 5.29% | 5.26% | 6.20% |
| Other Income | -1.30 | -2.05 | 1.20 | 29.70 | 9.55 | 14.99 | 1.60 | -0.88 | 68.44 | 0.59 | 0.53 | 0.49 |
| Interest | 1.29 | 2.89 | 3.40 | 0.61 | 0.20 | 0.46 | 0.43 | 0.40 | 0.48 | 0.48 | 0.50 | 0.48 |
| Depreciation | 9.54 | 8.22 | 6.85 | 6.61 | 6.59 | 6.12 | 6.17 | 4.89 | 1.84 | 1.84 | 1.83 | 1.85 |
| Profit before tax | -16.07 | -15.98 | -11.63 | 23.26 | 0.61 | -2.29 | -3.97 | -2.31 | 71.12 | 2.30 | 2.43 | 3.22 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Net Profit | -16.07 | -15.98 | -11.63 | 23.26 | 0.61 | -2.28 | -3.97 | -2.31 | 71.12 | 2.30 | 2.44 | 3.22 |
| EPS in Rs | -7.91 | -7.86 | -5.72 | 11.44 | 0.30 | -1.12 | -1.95 | -1.14 | 34.99 | 1.13 | 1.20 | 1.59 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 8% | 24% | 11% | 2% | ||
| Compounded Profit Growth | 8% | 16% | 55% | 42% | ||
| Stock Price CAGR | % | % | 26% | 30% | ||
| Return on Equity | % | % | % | 9% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 | 20.32 |
| Reserves | -54.99 | -71.06 | -84.81 | -96.44 | -73.18 | -72.57 | -74.85 | -78.82 | -81.13 | 2.16 | 4.45 | 6.89 |
| Borrowings | 153.59 | 152.21 | 139.77 | 133.13 | 42.45 | 21.66 | 12.11 | 12.11 | 12.11 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 39.47 | 41.40 | 44.42 | 36.08 | 94.06 | 92.07 | 82.89 | 83.29 | 85.82 | 15.48 | 14.45 | 13.57 |
| Total Liabilities | 158.39 | 142.87 | 119.70 | 93.09 | 83.65 | 61.48 | 40.47 | 36.90 | 37.12 | 37.96 | 39.22 | 40.78 |
| Fixed Assets | 89.77 | 78.21 | 55.80 | 47.09 | 41.02 | 34.57 | 31.99 | 26.56 | 23.47 | 22.01 | 21.43 | 21.26 |
| CWIP | 3.04 | 3.02 | 3.02 | 3.02 | 3.02 | 3.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Investments | 3.93 | 3.85 | 3.85 | 3.74 | 3.74 | 3.74 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 |
| Other Assets | 61.65 | 57.79 | 57.03 | 39.24 | 35.87 | 20.10 | 8.48 | 10.34 | 13.65 | 15.95 | 17.79 | 19.47 |
| Total Assets | 158.39 | 142.87 | 119.70 | 93.09 | 83.65 | 61.48 | 40.47 | 36.90 | 37.12 | 37.96 | 39.22 | 40.78 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -21.15 | 6.11 | 15.25 | -11.32 | 36.31 | 21.03 | 6.24 | 0.02 | 3.34 | 1.22 | 2.40 | 3.14 |
| Cash from Investing Activity | 1.51 | 0.38 | 2.52 | 1.99 | -1.03 | -0.21 | -0.28 | 1.01 | -2.04 | -0.08 | -0.89 | -1.37 |
| Cash from Financing Activity | 19.23 | -6.56 | -17.78 | 9.51 | -35.14 | -21.00 | -5.32 | -0.43 | -0.40 | -0.48 | -0.48 | -0.50 |
| Net Cash Flow | -0.40 | -0.07 | 0.00 | 0.17 | 0.14 | -0.19 | 0.64 | 0.59 | 0.90 | 0.66 | 1.04 | 1.28 |
| Free Cash Flow | -21.36 | 6.48 | 17.44 | -9.42 | 35.77 | 20.84 | 5.78 | -0.79 | 1.56 | 1.00 | 1.28 | 1.48 |
| CFO/OP | 366% | -155% | -541% | 439% | 4,655% | -978% | -58% | 2% | 87% | 24% | 60% | 74% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 102.29 | 123.52 | 170.89 | 38.51 | 34.18 | 36.50 | 18.18 | 18.01 | 23.60 | 29.06 | 29.34 | 30.14 |
| Inventory Days | 276.54 | 304.07 | 356.86 | 213.58 | 190.35 | 277.38 | 90.87 | 71.73 | 48.28 | 35.97 | 27.63 | 30.63 |
| Days Payable | 311.47 | 392.42 | 584.53 | 355.13 | 1,049.62 | 1,647.01 | 79.99 | 40.70 | 86.51 | 80.08 | 70.32 | 59.05 |
| Cash Conversion Cycle | 67.36 | 35.16 | -56.78 | -103.04 | -825.10 | -1,333.13 | 29.07 | 49.03 | -14.63 | -15.05 | -13.35 | 1.72 |
| Working Capital Days | -389.52 | -617.97 | -520.87 | -776.85 | -556.34 | -920.18 | -12.70 | 1.81 | -0.69 | 2.83 | 11.12 | 18.52 |
| ROCE % | -12.13% | -8.51% | -12.49% | -14.23% | -24.68% | 11.17% | 11.08% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 40.71% | 40.81% | 40.81% | 40.81% | 40.81% | 40.81% | 40.81% | 40.81% | 40.81% | 40.77% | 40.77% | 40.77% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 59.28% | 59.18% | 59.17% | 59.16% | 59.17% | 59.18% | 59.16% | 59.17% | 59.18% | 59.21% | 59.21% | 59.21% |
| No. of Shareholders | 9,450 | 9,461 | 9,529 | 9,592 | 10,174 | 11,324 | 11,318 | 11,238 | 11,199 | 11,096 | 11,015 | 10,981 |
Fundamentals
Market Cap₹ 58.3 Cr.
Current Price₹ 28.7
Stock P/E18.4
Book Value₹ 14.0
ROCE11.1 %
ROE9.20 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)42%
Standalone figures.
Valuation
Market capRs 50 Cr
Enterprise valueRs 44 Cr
P/E (TTM)15.38x
Price to book1.82x
Price to sales0.61x
EV / EBITDA7.97x
EV / EBIT11.95x
EV / sales0.54x
Price to cash flow15.77x
Earnings yield6.50%
P/E, 3-year average9.48x
P/B, 3-year average1.27x
P/E, 5-year average9.48x
P/B, 5-year average0.69x
Profitability
Operating margin (excl. other income)5.26%
Operating margin (incl. other income)5.92%
EBITDA margin6.80%
Pre-tax margin3.95%
Net profit margin3.95%
Net margin, latest quarter5.36%
ROE9.39%
ROCE11.27%
ROA6.10%
ROE, 3-year average-117.32%
ROCE, 3-year average11.52%
ROA, 3-year average67.17%
ROE, 5-year average-68.21%
ROCE, 5-year average11.52%
ROA, 5-year average37.00%
ROIC (approx.)16.89%
Other income / net worth1.95%
Growth
Sales growth (latest year)5.62%
Profit growth (latest year)6.09%
Sales CAGR, 3 years11.21%
Sales CAGR, 5 years24.12%
Sales growth QoQ-3.02%
Profit growth QoQ-5.65%
Sales growth YoY (latest quarter)5.92%
Profit growth YoY (latest quarter)200.00%
Per share
EPS (TTM)Rs 1.58
EPS (latest year)Rs 1.20
EPS (latest quarter)Rs 0.58
EPS, 3-year averageRs 12.44
EPS, 5-year averageRs 6.85
Book value per shareRs 13.39
Sales per shareRs 40.16
Cash flow per shareRs 1.54
Free cash flow per shareRs 0.73
Efficiency
Asset turnover1.97x
Fixed asset turnover3.78x
Inventory turnover14.85x
Inventory days25 days
Debtor days30 days
Debtors turnover12.11x
Creditor days59 days
Cash conversion cycle2 days
Working capital days19 days
Leverage
Cash and bankRs 5 Cr
Net debtRs -5 Cr
Net debt / EBITDA-0.95x
Interest coverage7.71x
Owners' fund to total sources66.72%
Cash flow
Cash from Operating Activity (latest year)Rs 3 Cr
Cash from Investing Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs -0 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs 1 Cr
Cash from ops / profit, 5 years0.15x
Sales to cash flow25.61x
Statement figures
Net sales (TTM)Rs 82 Cr
Net sales (latest year)Rs 80 Cr
Sales (latest quarter)Rs 22 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 6 Cr
PBDT (TTM)Rs 5 Cr
Profit before tax (TTM)Rs 3 Cr
Net profit (TTM)Rs 3 Cr
Net profit (latest year)Rs 2 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 57 Cr
Total expenditure (latest year)Rs 76 Cr
Total income (latest year)Rs 81 Cr
Share capitalRs 20 Cr
ReservesRs 7 Cr
Shareholders' fundsRs 27 Cr
Total assetsRs 41 Cr
Net blockRs 21 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 0 Cr
ReceivablesRs 7 Cr
InventoryRs 4 Cr
Other liabilitiesRs 14 Cr
Shares outstanding (crore)2.03
Ownership
Promoter holding40.77% (-0.04 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 15.4 is at the 55th percentile of its own 2.4-year range
(median 15.0, low 0.6, high 19.6).
P/B 1.82 is at the 48th percentile (median 1.82).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 531144 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +19.5% | -2.8% | +22.3 pts |
| 1 month | +35.0% | -6.8% | +41.8 pts |
| 3 months | +27.4% | -7.6% | +35.0 pts |
| 3 years | +88.4% | +14.2% | +74.2 pts |
| 5 years | +466.5% | +27.9% | +438.6 pts |
Red flags
F-score 7 of 8| explain | Weak cash conversion Cash from operations was 9% of net profit over the last 3 years |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹22 Cr +5.9% vs Jun 2025.
Net profit ₹1 Cr +200.0%.
Activity
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|---|---|---|---|
| Samvardhana Motherson International Ltd | 167,351 | 36.6 | 13.4 % |
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| Tube Investments of India Ltd | 46,709 | 74.5 | 17.1 % |
| Endurance Technologies Ltd | 37,343 | 37.9 | 17.8 % |
| Exide Industries Ltd | 34,595 | 36.9 | 8.54 % |
| Dhoot Transmission Ltd | 30,776 | 68.7 | 24.4 % |
| Craftsman Automation Ltd | 27,475 | 58.7 | 13.9 % |
| Sansera Engineering Ltd | 27,228 | 78.1 | 13.7 % |
| ZF Commercial Vehicle Control System India Ltd | 26,150 | 53.2 | 19.1 % |
| Asahi India Glass Ltd | 24,421 | 54.7 | 11.5 % |
| Sundram Fasteners Ltd | 24,022 | 38.7 | 17.6 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of EL Forge Ltd?
EL Forge Ltd (531144) has a market capitalisation of Rs 58.3 Cr. at the 2026-10-01 close.
What is the P/E ratio of EL Forge Ltd?
EL Forge Ltd trades at a P/E of 18.4 on trailing twelve-month profit, at the 2026-10-01 close.
What were EL Forge Ltd's latest quarterly results?
In the Jun 2026 quarter, EL Forge Ltd sales was Rs 22 Cr (+5.9% vs Jun 2025) and net profit was Rs 1 Cr.