Price
Financials
Consolidated, 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 | 139 | 147 | 161 | 175 | 223 | 256 | 270 | 233 | 300 | 311 | 264 | 301 |
| Expenses | 109 | 114 | 127 | 132 | 158 | 188 | 195 | 161 | 217 | 227 | 204 | 216 |
| Operating Profit | 30 | 33 | 34 | 43 | 65 | 68 | 75 | 72 | 83 | 85 | 60 | 85 |
| OPM % | 22% | 22% | 21% | 25% | 29% | 26% | 28% | 31% | 28% | 27% | 23% | 28% |
| Other Income | 4 | 2 | 4 | 1 | 2 | 10 | 4 | 2 | 3 | 4 | 23 | 4 |
| Interest | 4 | 4 | 4 | 2 | 3 | 2 | 4 | 2 | 4 | 5 | 5 | 5 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 |
| Profit before tax | 30 | 30 | 35 | 42 | 64 | 74 | 74 | 70 | 80 | 81 | 75 | 81 |
| Tax % | 22% | 16% | 18% | 18% | 25% | 20% | 15% | 19% | 19% | 12% | 13% | 18% |
| Net Profit | 23 | 25 | 28 | 34 | 48 | 59 | 63 | 57 | 65 | 71 | 66 | 66 |
| EPS in Rs | 2.32 | 2.46 | 2.76 | 3.33 | 4.39 | 5.39 | 5.73 | 5.00 | 5.71 | 6.18 | 5.42 | 5.44 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 142 | 286 | 327 | 560 | 924 | 1,107 | 1,175 |
| Expenses | 130 | 249 | 277 | 441 | 673 | 808 | 863 |
| Operating Profit | 12 | 37 | 50 | 119 | 251 | 300 | 312 |
| OPM % | 9% | 13% | 15% | 21% | 27% | 27% | 27% |
| Other Income | 5 | 8 | 13 | 10 | 17 | 33 | 35 |
| Interest | 7 | 5 | 11 | 14 | 11 | 16 | 19 |
| Depreciation | 1 | 1 | 1 | 2 | 3 | 10 | 12 |
| Profit before tax | 10 | 39 | 51 | 114 | 254 | 306 | 317 |
| Tax % | 22% | 24% | 23% | 18% | 20% | 15% | |
| Net Profit | 8 | 30 | 39 | 93 | 204 | 259 | 268 |
| EPS in Rs | 1.11 | 3.63 | 4.67 | 9.11 | 18.63 | 21.33 | 22.75 |
| Dividend Payout % | 0% | 3% | 0% | 2% | 1% | 1% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 51% | 50% | 20% | ||
| Compounded Profit Growth | % | 102% | 88% | 18% | ||
| Stock Price CAGR | 28% | 14% | 32% | -20% | ||
| Return on Equity | % | 22% | 22% | 20% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 69 | 82 | 83 | 103 | 111 | 121 |
| Reserves | 9 | 76 | 114 | 450 | 942 | 1,473 |
| Borrowings | 26 | 47 | 52 | 49 | 40 | 152 |
| Other Liabilities | 68 | 78 | 121 | 111 | 159 | 104 |
| Total Liabilities | 171 | 284 | 371 | 712 | 1,252 | 1,851 |
| Fixed Assets | 42 | 42 | 48 | 57 | 183 | 547 |
| CWIP | 0 | 7 | 7 | 130 | 417 | 277 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 129 | 235 | 316 | 525 | 652 | 1,027 |
| Total Assets | 171 | 284 | 371 | 712 | 1,252 | 1,851 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 17 | -58 | 26 | -32 | 148 | 32 |
| Cash from Investing Activity | -3 | -8 | -21 | -134 | -416 | -354 |
| Cash from Financing Activity | -12 | 69 | -6 | 249 | 273 | 315 |
| Net Cash Flow | 2 | 4 | -1 | 83 | 5 | -7 |
| Free Cash Flow | 14 | -65 | 5 | -166 | -268 | -322 |
| CFO/OP | 159% | -161% | 52% | -12% | 73% | 15% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 156 | 165 | 235 | 142 | 129 | 140 |
| Inventory Days | 66 | 70 | 56 | 87 | 59 | 75 |
| Days Payable | 157 | 75 | 105 | 78 | 71 | 32 |
| Cash Conversion Cycle | 65 | 160 | 186 | 151 | 117 | 182 |
| Working Capital Days | 113 | 141 | 146 | 175 | 116 | 158 |
| ROCE % | 29% | 27% | 30% | 31% | 23% |
| 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 | 57.47% | 56.07% | 56.07% | 56.07% | 54.71% | 54.71% | 55.25% | 54.85% | 54.85% | 54.87% | 54.39% | 53.51% |
| FIIs | 6.48% | 8.77% | 9.71% | 8.51% | 10.43% | 6.93% | 7.07% | 8.20% | 8.33% | 7.94% | 6.03% | 5.04% |
| DIIs | 2.00% | 1.95% | 1.88% | 1.43% | 0.93% | 0.97% | 1.07% | 0.86% | 0.83% | 0.80% | 0.89% | 0.95% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.23% | 4.17% | 4.06% | 4.06% | 4.06% | 4.02% | 3.86% |
| Public | 34.05% | 33.21% | 32.34% | 33.99% | 33.93% | 33.16% | 32.43% | 32.03% | 31.93% | 32.34% | 34.68% | 36.64% |
| No. of Shareholders | 13,798 | 18,054 | 23,723 | 29,419 | 50,955 | 66,310 | 73,283 | 77,243 | 72,351 | 70,445 | 79,711 | 83,997 |
Fundamentals
Market Cap₹ 6,084 Cr.
Current Price₹ 501
Stock P/E22.7
Book Value₹ 131
ROCE22.7 %
ROE19.6 %
Dividend Yield0.03 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)20%
Compounded Profit Growth (TTM)18%
Consolidated figures.
Valuation
Market capRs 4,025 Cr
Enterprise valueRs 4,065 Cr
P/E (TTM)15.02x
Price to book25.37x
Price to sales3.43x
EV / EBITDA11.71x
EV / EBIT12.11x
EV / sales3.46x
Earnings yield6.66%
Dividend yield0.02%
Profitability
Operating margin (excl. other income)12.95%
Operating margin (incl. other income)15.86%
EBITDA margin29.55%
Pre-tax margin26.96%
Net profit margin22.81%
Net margin, latest quarter21.98%
ROE25.27%
ROCE28.64%
ROA13.09%
ROIC (approx.)128.83%
Tax rate23.64%
Other income / net worth5.25%
Growth
Sales growth (latest year)101.34%
Profit growth (latest year)291.60%
Sales growth QoQ14.10%
Profit growth QoQ0.53%
Sales growth YoY (latest quarter)28.95%
Profit growth YoY (latest quarter)15.89%
Per share
EPS (TTM)Rs 32.55
EPS (latest year)Rs 3.63
EPS (latest quarter)Rs 8.03
Book value per shareRs 19.27
Sales per shareRs 142.73
Cash flow per shareRs -7.01
Free cash flow per shareRs -39.12
Dividend per share (latest year)Rs 0.10
Dividends
Dividend payout2.75%
Efficiency
Asset turnover1.01x
Fixed asset turnover6.75x
Inventory turnover5.21x
Inventory days70 days
Debtor days165 days
Debtors turnover2.22x
Creditor days32 days
Cash conversion cycle182 days
Working capital days158 days
Leverage
Total debtRs 47 Cr
Cash and bankRs 7 Cr
Net debtRs 40 Cr
Debt to equity0.30x
Net debt / EBITDA0.12x
Interest coverage17.83x
Current ratio (filing 2026-03-31)3.54x
Quick ratio (filing 2026-03-31)2.89x
Trade payables (filing 2026-03-31)Rs 63 Cr
Owners' fund to total sources55.77%
Debt to assets16.66%
Cash flow
Cash from Operating Activity (latest year)Rs -58 Cr
Cash from Investing Activity (latest year)Rs -8 Cr
Cash from Financing Activity (latest year)Rs 69 Cr
Net Cash Flow (latest year)Rs 4 Cr
Free cash flow (latest year)Rs -322 Cr
FCFE (approx.: FCF + change in debt)Rs -301 Cr
Cash from ops / profit, 5 years0.19x
Statement figures
Net sales (TTM)Rs 1,175 Cr
Net sales (latest year)Rs 286 Cr
Sales (latest quarter)Rs 301 Cr
Operating profit excl. other income (latest year)Rs 37 Cr
Operating profit (latest quarter)Rs 85 Cr
Other income (TTM)Rs 35 Cr
EBITDA (TTM)Rs 347 Cr
PBDT (TTM)Rs 328 Cr
Profit before tax (TTM)Rs 317 Cr
Tax (latest year)Rs 9 Cr
Net profit (TTM)Rs 268 Cr
Net profit (latest year)Rs 30 Cr
Net profit (latest quarter)Rs 66 Cr
Depreciation (TTM)Rs 12 Cr
Depreciation (latest quarter)Rs 3 Cr
Interest (TTM)Rs 19 Cr
Cost of goods sold (latest year)Rs 221 Cr
Total expenditure (latest year)Rs 249 Cr
Total income (latest year)Rs 294 Cr
Share capitalRs 82 Cr
ReservesRs 76 Cr
Shareholders' fundsRs 159 Cr
Total assetsRs 284 Cr
Net blockRs 42 Cr
Capital work in progressRs 7 Cr
ReceivablesRs 129 Cr
InventoryRs 42 Cr
Other liabilitiesRs 78 Cr
Shares outstanding (crore)8.23
Ownership
Promoter holding53.51% (-1.34 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | BALUFORGE | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -1.8% | -2.8% | +0.9 pts |
| 1 month | -21.4% | -6.8% | -14.6 pts |
| 3 months | +5.0% | -7.6% | +12.6 pts |
| 6 months | +26.6% | +0.4% | +26.2 pts |
| 1 year | -24.5% | -9.9% | -14.6 pts |
| 2 years | -38.9% | -13.6% | -25.3 pts |
| 3 years | +122.6% | +14.2% | +108.4 pts |
| 5 years | +85.1% | +27.9% | +57.2 pts |
6 mutual fund schemes hold about ₹8 Cr.
Over three months 6 bought more and 0 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.31% | 8 | +20% |
| Groww Nifty Total Market Index Fund | 0.01% | 0 | +21% |
| Angel One Nifty Total Market Index Fund | 0.01% | 0 | +21% |
| Mirae Asset Nifty Total Market Index Fund | 0.01% | 0 | +21% |
| Bandhan Nifty Total Market Index Fund | 0.01% | 0 | +21% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | +24% |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -108% of net profit over the last 2 years |
| explain | High accruals Profit exceeded operating cash by 31% of total assets in 2026 |
| look | Share dilution Share count up 20% in a year |
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 ₹301 Cr +29.2% vs Jun 2025.
Net profit ₹66 Cr +15.8%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| AIA Engineering Ltd | 35,795 | 28.2 | 21.1 % |
| PTC Industries Ltd | 33,786 | 269 | 8.59 % |
| Happy Forgings Ltd | 19,586 | 59.8 | 18.0 % |
| Steelcast Ltd | 3,779 | 41.7 | 32.3 % |
| Amic Forging Ltd | 2,764 | 90.7 | 25.2 % |
| Investment & Precision Castings Ltd | 1,516 | 102 | 14.4 % |
| Nelcast Ltd | 1,033 | 25.2 | 11.4 % |
| Synergy Green Industries Ltd | 1,012 | 9.24 % | |
| Tirupati Forge Ltd | 978 | 160 | 7.53 % |
| Neetu Yoshi Ltd | 963 | 38.5 | 31.8 % |
| Magna Electro Castings Ltd | 587 | 37.8 | 17.4 % |
| Kalyani Forge Ltd | 364 | 29.4 | 12.2 % |
| Nitin Castings Ltd | 235 | 28.9 | 15.5 % |
| Munish Forge Ltd | 217 | 20.6 | 12.0 % |
| KVS Castings Ltd | 156 | 22.1 | 15.8 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-18 | Dividend - Re 0.15 Per Share | |
| 2025-09-19 | Dividend - Re 0.15 Per Share | |
| 2024-09-20 | Dividend - Rs 0.15 Per Share | |
| 2024-09-20 | Annual General Meeting |
| Date | Type | What it says |
|---|---|---|
| 2026-09-30 | Shareholder meeting | Proceedings of Annual General Meeting held on September 30, 2026 |
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 Balu Forge Industries Ltd?
Balu Forge Industries Ltd (BALUFORGE) has a market capitalisation of Rs 6,084 Cr. at the 2026-10-01 close.
What is the P/E ratio of Balu Forge Industries Ltd?
Balu Forge Industries Ltd trades at a P/E of 22.7 on trailing twelve-month profit, at the 2026-10-01 close.
What were Balu Forge Industries Ltd's latest quarterly results?
In the Jun 2026 quarter, Balu Forge Industries Ltd sales was Rs 301 Cr (+29.2% vs Jun 2025) and net profit was Rs 66 Cr.
What is the 52-week high and low of Balu Forge Industries Ltd?
The 52-week high is Rs 678.00 and the 52-week low is Rs 341.05.