Balu Forge Industries Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Strong return on equity (ROE 19.6%)
- Efficient capital deployment (ROCE 22.7%)
- Attractively valued vs sector (P/E 26x vs industry 48.4x)
- Virtually debt-free
Concerns
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,856 | ₹3.2L Cr | 34.8 | 7.91 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹405 | ₹3.0L Cr | 48.2 | 12.36 | 27.4 | 36.4 | 0 |
| TMCV Tata Motors Limited | ₹475 −0.03% | ₹1.7L Cr | 22.7 | 10.71 | 34 | 35.9 | 0.44 |
| ABB ABB India Limited | ₹7,410 | ₹1.6L Cr | 102 | 16.8 | 22.4 | 29.9 | 0.02 |
| BHEL Bharat Heavy Electricals Limited | ₹431 | ₹1.5L Cr | 61.7 | 5.74 | 6.23 | 9.14 | 0.45 |
| SIEMENS Siemens Limited | ₹3,977 | ₹1.4L Cr | 94.2 | 10.22 | 19.2 | 21.4 | 0.01 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹891 | ₹1.4L Cr | 110 | 17.61 | 20.5 | 26.7 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
BALUFORGE · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 56.07% | 56.07% | 56.07% | 54.71% | 54.71% | 55.25% |
| FII | 8.77% | 9.71% | 8.51% | 10.43% | 6.93% | 7.07% |
| DII | 1.95% | 1.88% | 1.43% | 0.93% | 0.97% | 1.07% |
| Public | 33.21% | 32.34% | 33.99% | 33.93% | 33.16% | 32.43% |
| Govt | — | — | — | — | 4.23% | 4.17% |
Corporate Events
To consider dividend and other business matters
To consider and approve the financial results for the period ended March 31, 2026 and other business matters
Dividend - Re 0.15 Per Share
Dividend - Rs 0.15 Per Share
Annual General Meeting
Latest News
All newsBalu Forge acquires ring rolling production line
*Balu Forge acquires ring rolling production line* to expand manufacturing capacity. The move aims to strengthen its product offerings in the forging sector. This strategic acquisition could enhance operational efficiency and market competitiveness. 📊 *STOCKS:* BALUFORGE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Acquisition
Balu Forge calls extraordinary general meeting for 2026-27
*Balu Forge calls extraordinary general meeting for 2026-27.* The company has published a notice post-dispatch to shareholders. No details on agenda yet. **Meeting scheduled for fiscal 2026-27.** 📊 *STOCKS:* $BALUFORGE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #corporate_filing
Balu Forge to host analyst and investor meet
*Balu Forge to host analyst and investor meet.* The company has announced a scheduled meet for analysts and institutional investors. This event aims to provide updates on business performance and strategic direction. Such interactions often clarify future outlook but carry no immediate financial impact. 📊 *STOCKS:* BALUFORGE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #InvestorMeet
Balu Forge to host investor meet for updates.
*Balu Forge to host investor meet for updates.* The company will provide insights during an upcoming analyst and institutional investor call. Details on business performance and strategy may be shared. No financial figures or major announcements confirmed yet. 📊 *STOCKS:* $BALUFORGE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #InvestorMeet
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹311 Cr 3.7% | ₹300 Cr 28.8% | ₹233 Cr 13.7% | ₹270 Cr 5.5% | ₹256 Cr 14.8% | ₹223 Cr 27.4% | ₹175 Cr 8.7% | ₹161 Cr |
| Op. Profit | ₹85 Cr 2.4% | ₹83 Cr 15.3% | ₹72 Cr 4.0% | ₹75 Cr 10.3% | ₹68 Cr 4.6% | ₹65 Cr 51.2% | ₹43 Cr 26.5% | ₹34 Cr |
| OPM | 27.0% 3.6% | 28.0% 9.7% | 31.0% 10.7% | 28.0% 7.7% | 26.0% 10.3% | 29.0% 16.0% | 25.0% 19.0% | 21.0% |
| Net Profit | ₹71 Cr 9.2% | ₹65 Cr 14.0% | ₹57 Cr 9.5% | ₹63 Cr 6.8% | ₹59 Cr 22.9% | ₹48 Cr 41.2% | ₹34 Cr 21.4% | ₹28 Cr |
| EPS (₹) | 6.18 8.2% | 5.71 14.2% | 5 12.7% | 5.73 6.3% | 5.39 22.8% | 4.39 31.8% | 3.33 20.7% | 2.76 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Revenue | ₹1.1K Cr 19.8% | ₹924 Cr 65.0% | ₹560 Cr 71.3% | ₹327 Cr 14.3% | ₹286 Cr 101.4% | ₹142 Cr |
| Expenses | ₹808 Cr 20.1% | ₹673 Cr 52.6% | ₹441 Cr 59.2% | ₹277 Cr 11.2% | ₹249 Cr 91.5% | ₹130 Cr |
| Op. Profit | ₹300 Cr 19.5% | ₹251 Cr 110.9% | ₹119 Cr 138.0% | ₹50 Cr 35.1% | ₹37 Cr 208.3% | ₹12 Cr |
| OPM | 27.0% 0.0% | 27.0% 28.6% | 21.0% 40.0% | 15.0% 15.4% | 13.0% 44.4% | 9.0% |
| Other Income | ₹33 Cr 94.1% | ₹17 Cr 70.0% | ₹10 Cr 23.1% | ₹13 Cr 62.5% | ₹8 Cr 60.0% | ₹5 Cr |
| Interest | ₹16 Cr 45.5% | ₹11 Cr 21.4% | ₹14 Cr 27.3% | ₹11 Cr 120.0% | ₹5 Cr 28.6% | ₹7 Cr |
| Depreciation | ₹10 Cr 233.3% | ₹3 Cr 50.0% | ₹2 Cr 100.0% | ₹1 Cr 0.0% | ₹1 Cr 0.0% | ₹1 Cr |
| PBT | ₹306 Cr 20.5% | ₹254 Cr 122.8% | ₹114 Cr 123.5% | ₹51 Cr 30.8% | ₹39 Cr 290.0% | ₹10 Cr |
| Tax % | 15.0% 25.0% | 20.0% 11.1% | 18.0% 21.7% | 23.0% 4.2% | 24.0% 9.1% | 22.0% |
| Net Profit | ₹259 Cr 27.0% | ₹204 Cr 119.4% | ₹93 Cr 138.5% | ₹39 Cr 30.0% | ₹30 Cr 275.0% | ₹8 Cr |
| EPS (₹) | 21.33 14.5% | 18.63 104.5% | 9.11 95.1% | 4.67 28.7% | 3.63 227.0% | 1.11 |
| Div Payout | 0.0% 100.0% | 1.0% 50.0% | 2.0% | 0.0% 100.0% | 3.0% | 0.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|---|
Liabilities | |||||||
| Equity Capital | ₹121 Cr 6.1% | ₹114 Cr 2.7% | ₹111 Cr 7.8% | ₹103 Cr 24.1% | ₹83 Cr 1.2% | ₹82 Cr 18.8% | ₹69 Cr |
| Reserves | ₹1.5K Cr 29.8% | ₹1.1K Cr 20.5% | ₹942 Cr 109.3% | ₹450 Cr 294.7% | ₹114 Cr 50.0% | ₹76 Cr 744.4% | ₹9 Cr |
| Borrowings | ₹152 Cr 85.4% | ₹82 Cr 105.0% | ₹40 Cr 18.4% | ₹49 Cr 5.8% | ₹52 Cr 10.6% | ₹47 Cr 80.8% | ₹26 Cr |
| Other Liabilities | ₹104 Cr 46.4% | ₹194 Cr 22.0% | ₹159 Cr 43.2% | ₹111 Cr 8.3% | ₹121 Cr 55.1% | ₹78 Cr 14.7% | ₹68 Cr |
| Total Liabilities | ₹1.9K Cr 21.5% | ₹1.5K Cr 21.7% | ₹1.3K Cr 75.8% | ₹712 Cr 91.9% | ₹371 Cr 30.6% | ₹284 Cr 66.1% | ₹171 Cr |
Assets | |||||||
| Fixed Assets | ₹547 Cr 25.5% | ₹436 Cr 138.3% | ₹183 Cr 221.1% | ₹57 Cr 18.8% | ₹48 Cr 14.3% | ₹42 Cr 0.0% | ₹42 Cr |
| CWIP | ₹277 Cr 21.1% | ₹351 Cr 15.8% | ₹417 Cr 220.8% | ₹130 Cr 1757.1% | ₹7 Cr 0.0% | ₹7 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other Assets | ₹1.0K Cr 39.3% | ₹737 Cr 13.0% | ₹652 Cr 24.2% | ₹525 Cr 66.1% | ₹316 Cr 34.5% | ₹235 Cr 82.2% | ₹129 Cr |
| Total Assets | ₹1.9K Cr 21.5% | ₹1.5K Cr 21.7% | ₹1.3K Cr 75.8% | ₹712 Cr 91.9% | ₹371 Cr 30.6% | ₹284 Cr 66.1% | ₹171 Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Operating CF | ₹32 Cr 78.4% | ₹148 Cr 562.5% | ₹-32 Cr 223.1% | ₹26 Cr 144.8% | ₹-58 Cr 441.2% | ₹17 Cr |
| Investing CF | ₹-354 Cr 15.1% | ₹-417 Cr 211.2% | ₹-134 Cr 538.1% | ₹-21 Cr 162.5% | ₹-8 Cr 166.7% | ₹-3 Cr |
| Financing CF | ₹315 Cr 15.0% | ₹274 Cr 10.0% | ₹249 Cr 4250.0% | ₹-6 Cr 108.7% | ₹69 Cr 675.0% | ₹-12 Cr |
| Net Cash Flow | ₹-7 Cr 240.0% | ₹5 Cr 94.0% | ₹83 Cr 8400.0% | ₹-1 Cr 125.0% | ₹4 Cr 100.0% | ₹2 Cr |
| Free Cash Flow | ₹-175 Cr 34.7% | ₹-268 Cr 61.4% | ₹-166 Cr 3420.0% | ₹5 Cr 107.7% | ₹-65 Cr 564.3% | ₹14 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Debtor Days | 140d 8.5% | 129d 9.2% | 142d 39.6% | 235d 42.4% | 165d 5.8% | 156d |
| Inventory Days | 75d 27.1% | 59d 32.2% | 87d 55.4% | 56d 20.0% | 70d 6.1% | 66d |
| Days Payable | 32d 54.9% | 71d 9.0% | 78d 25.7% | 105d 40.0% | 75d 52.2% | 157d |
| Cash Conv. Cycle | 182d 55.6% | 117d 22.5% | 151d 18.8% | 186d 16.3% | 160d 146.2% | 65d |
| Working Capital Days | 158d 38.6% | 114d 34.9% | 175d 19.9% | 146d 3.5% | 141d 24.8% | 113d |
| ROCE | 23.0% 25.8% | 31.0% 3.3% | 30.0% 11.1% | 27.0% 6.9% | 29.0% | — |
Source: Screener.in · Lower days = better efficiency
About Balu Forge Industries Limited
Balu Forge Industries Ltd is engaged in the manufacturing of fully finished and semi-finished forged crankshafts and Forged Components. It has the capability to manufacture components conforming to the New Emission Regulations & the New Energy Vehicles [1]
Capital GoodsIndustrial Products