BALU FORGE INDUSTRIES LTD·HEAVY MACHINERY 63.44·Industrial Products Companies

2026-08-21 NSE BSE Web 20% Result 13 Aug

Price

555.4

+1.58%
O:552.4
H:563
L:543.7
C:555.4

52W Range

341.05697
+63%/-20%

Market Cap

₹6,647.13 Cr

Traded: ₹124.11 Cr (1.87%) 0.0x

Free Float: ₹2,168.29 Cr (5.72% of FF traded)

Volume · 60D trend

22.36 L 0.0x

Delivery: % 0.0x

View Delivery Data

Returns

1W:+0% 1M:+26% 3M:+24% 6M:+14% 12M:-13%

Valuation

P/E24.4
P/B4.2
P/S5.7
EV/EBIT26.1

Business Strength

ROE25.4%
ROCE31.3%
OPM27.1%
NPM23.4%

Growth (3Y CAGR)

EPS+14.5%
Sales+50.0%
Profit+88.0%
3Y Return+36.0%

Balance Sheet

Debt/Equity0.1
Debt127 Cr
Pledge1.4%
CWIP/Fixed Asset50.6%

Cash Position

CFO/NP12.4%
FCF-175 Cr
FCF 3Y Avg-609 Cr
Cash/MCap2.0%

Others

Div Yield0.0%
Div Payout0.0%
Cash Conv. Cycle182 days
Tradeable Free Float32.6%

MTF Exposure Trend

60 sessions · funded amount, % of FF, daily delta

Current
₹ 94.02 Cr
4.34% FF
60d high
₹ 97.30 Cr
60d low
₹ 62.03 Cr
60d mean
₹ 82.59 Cr
vs mean
▲ 13.84%

Growth Trends

Metric10Y5Y3Y1YTTMTrend
Profit
--
+102.0%
+88.0%
--
+18.0%
Decelerating
Sales
--
+51.0%
+50.0%
--
+20.0%
Decelerating
ROE
--
+22.0%
+22.0%
--
--
Stable
Return
+27.0%
+13.0%
+36.0%
-23.0%
--
Stable

Quarterly Results

Jun 2026

13 Aug
Rev
301 Cr
+29% YoY+14% QoQ
OPM28.0%
NPM21.9%
PAT
--66 Cr
EPS
+9% YoY5.4

Mar 2026

1 Jun
Rev
264 Cr
-2% YoY-15% QoQ
OPM23.0%
NPM25.0%
PAT
+5% YoY66 Cr
EPS
-5% YoY5.4

Dec 2025

13 Feb
Rev
311 Cr
+21% YoY+4% QoQ
OPM27.0%
NPM22.8%
PAT
+20% YoY71 Cr
EPS
+15% YoY6.2

Sep 2025

PDF
Rev
300 Cr
+35% YoY+29% QoQ
OPM28.0%
NPM21.7%
PAT
+36% YoY65 Cr
EPS
+30% YoY5.7

Jun 2025

PDF
Rev
233 Cr
+33% YoY-14% QoQ
OPM31.0%
NPM24.5%
PAT
+67% YoY57 Cr
EPS
+50% YoY5.0

Mar 2025

PDF
Rev
270 Cr
+68% YoY+5% QoQ
OPM28.0%
NPM23.3%
PAT
+122% YoY63 Cr
EPS
+108% YoY5.7

Dec 2024

PDF
Rev
256 Cr
+74% YoY+15% QoQ
OPM26.0%
NPM23.1%
PAT
+134% YoY59 Cr
EPS
+119% YoY5.4

Sep 2024

PDF
Rev
223 Cr
+60% YoY+27% QoQ
OPM29.0%
NPM21.5%
PAT
+106% YoY48 Cr
EPS
+89% YoY4.4

Jun 2024

PDF
Rev
175 Cr
+56% YoY+9% QoQ
OPM25.0%
NPM19.4%
PAT
+105% YoY34 Cr
EPS
+67% YoY3.3

Mar 2024

PDF
Rev
161 Cr
+30% YoY+10% QoQ
OPM21.0%
NPM17.4%
PAT
+86% YoY28 Cr
EPS
+51% YoY2.8

Dec 2023

PDF
Rev
147 Cr
+65% YoY+6% QoQ
OPM22.0%
NPM17.0%
PAT
+120% YoY25 Cr
EPS
+80% YoY2.5

Sep 2023

PDF
Rev
139 Cr
+124% YoY+24% QoQ
OPM22.0%
NPM16.6%
PAT
+382% YoY23 Cr
EPS
+300% YoY2.3

Jun 2023

PDF
Rev
112 Cr
---10% QoQ
OPM19.0%
NPM15.2%
PAT
+125% YoY17 Cr
EPS
--2.0

Mar 2023

PDF
Rev
124 Cr
--+39% QoQ
OPM17.0%
NPM12.1%
PAT
+41% YoY15 Cr
EPS
--1.8

Dec 2022

Rev
89 Cr
--+44% QoQ
OPM20.0%
NPM12.4%
PAT
+38% YoY11 Cr
EPS
--1.4

Sep 2022

Rev
62 Cr
----
OPM8.0%
NPM8.1%
PAT
-31% YoY5 Cr
EPS
--0.6

Revenue & Margin Trends

Annual

Quarterly

Balance Sheet Health

Leverage

Debt / Equity0.10
Interest Coverage0.3x
Promoter Pledge1.4%
Borrowings152 Cr

Efficiency

Receivable Days140 days
Inventory Days75 days
Payable Days32 days
Cash Conversion cycle182 days

Cash Position

Operating Cash Flow32 Cr
Investing Cash Flow-354 Cr
Financing Cash Flow315 Cr
Free Cash Flow-175 Cr

Detailed Financials

Jun 2026PDF ↗
Mar 2026PDF ↗
Dec 2025PDF ↗
Sep 2025PDF ↗
Jun 2025PDF ↗
Mar 2025PDF ↗
Dec 2024PDF ↗
Sep 2024PDF ↗
Jun 2024PDF ↗
Mar 2024PDF ↗
Dec 2023PDF ↗
Sep 2023PDF ↗
Jun 2023PDF ↗
Mar 2023PDF ↗
Dec 2022
Sep 2022
Sales3012643113002332702562231751611471391121248962
Expenses216204227217161195188158132127114109901037257
Operating Profit8560858372756865433433302221185
OPM %28.0%23.0%27.0%28.0%31.0%28.0%26.0%29.0%25.0%21.0%22.0%22.0%19.0%17.0%20.0%8.0%
Other Income423432410214240135
Interest5554242324442433
Depreciation3332211111100000
Profit Before Tax8175818070747464423530301917177
Tax %18.0%13.0%12.0%19.0%19.0%15.0%20.0%25.0%18.0%18.0%16.0%22.0%13.0%12.0%33.0%34.0%
Net Profit6666716557635948342825231715115
Exceptional Items--------------------------------
EPS (Rs)5.45.46.25.75.05.75.44.43.32.82.52.32.01.81.40.6
Sales Growth (YoY)29.2%-2.2%21.5%34.5%33.1%67.7%74.2%60.4%56.3%29.8%65.2%124.2%--------
Sales Growth (QoQ)14.0%-15.1%3.7%28.8%-13.7%5.5%14.8%27.4%8.7%9.5%5.8%24.1%-9.7%39.3%43.5%--
OP Growth (YoY)18.1%-20.0%25.0%27.7%67.4%120.6%106.1%116.7%95.5%61.9%83.3%500.0%--------
OP Growth (QoQ)41.7%-29.4%2.4%15.3%-4.0%10.3%4.6%51.2%26.5%3.0%10.0%36.4%4.8%16.7%260.0%--
Profit Growth (YoY)--5.0%20.0%36.0%67.0%122.0%134.0%106.0%105.0%86.0%120.0%382.0%125.0%41.0%38.0%-31.0%
EPS Growth (YoY)8.8%-5.4%14.7%30.1%50.1%107.6%119.1%89.2%66.5%50.8%79.6%300.0%--------
EPS Growth (QoQ)0.4%-12.3%8.2%14.2%-12.7%6.3%22.8%31.8%20.6%12.2%6.0%16.0%9.3%33.6%136.2%--
OP Margin28.2%22.7%27.3%27.7%30.9%27.8%26.6%29.1%24.6%21.1%22.4%21.6%19.6%16.9%20.2%8.1%
Net Margin21.9%25.0%22.8%21.7%24.5%23.3%23.1%21.5%19.4%17.4%17.0%16.6%15.2%12.1%12.4%8.1%
Material Cost %64.0%64.0%64.0%66.0%62.0%65.0%66.0%64.0%66.0%66.0%66.0%67.0%71.0%68.0%69.0%68.0%
Employee Cost %4.0%4.0%3.0%3.0%3.0%2.0%2.0%3.0%3.0%2.0%3.0%3.0%2.0%3.0%2.0%3.0%
P/S5.655.004.915.23------------------------
P/E24.4120.7521.0422.25------------------------
P/B4.173.484.384.43------------------------

Shareholding Pattern

Shareholders:84.0K (+976.1%)
Current MixJun 2026

Exchange Filings

50
Company Update17 Aug 2026

Please find enclosed the Press Release regaring receipt of multi month contract for 155mm ERFB BB/BT Shells.

Company Update14 Aug 2026

Please find enclosed Monitoring Agency Report for the quarter ended June 30, 2026.

Company Update14 Aug 2026

Please find enclosed Statement pursuant to Regulation 32 of the SEBI (LODR) Regulations, 2015, for the Quarter ended June 30, 2026.

Company Update14 Aug 2026

Intimation of submission of newspaper publication of post-dispatch of Notice of (01/2026-27) EGM.

Company Update14 Aug 2026

Newspaper Publication regarding Un-audited Financial Results for the Quarter ended June 30, 2026.

Company Update14 Aug 2026

Intimation of Schedule of Investors Meeting/ Analysts Meeting pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on Thursday, August 20, 2026.

AGM/EGM13 Aug 2026

Submission of Notice of the (01/2026-27) Extra-Ordinary General Meeting under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Company Update12 Aug 2026

Intimation of raising of funds by way of issuance of Foreign Currency Convertible Bonds ("FCCBs").

Result12 Aug 2026

Pursuant to Regulation 33 of the SEBI (LODR) Regulations, 2015, please find enclosed Un-audited Financial Results for the quarter ended June 30, 2026.

Company Update12 Aug 2026

Pursuant to regulation 30 of the SEBI (LODR) Regulations, 2015, please find enclosed Press Release regarding Financial Results for the quarter ended June 30, 2026.

Company Update12 Aug 2026

Earnings Release for the quarter ended June 30, 2026.

Board Meeting12 Aug 2026

Outcome of Board Meeting

Board Meeting07 Aug 2026

Balu Forge Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/08/2026 ,inter alia, to consider and approve 1. To consider raising ....

Company Update08 Jul 2026

Pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, we are enclosing herewith Confirmation Certificate for the Quarter ended June 30, 2026.

Company Update29 Jun 2026

Intimation of the schedule of Plant visit of Investors and Analysts community pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, to be held on Thursday, July 02, 2026.

AGM/EGM29 Jun 2026

Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015: Proceedings of the Postal Ballot.

AGM/EGM29 Jun 2026

Disclosure of Voting Results of the Postal Ballot in accordance with Regulation 44(3) of the SEBI (LODR) Regulations, 2015, along with the Scrutinizer''s Report.

Insider Trading / SAST25 Jun 2026

Intimation of Closure of Trading Window

Company Update24 Jun 2026

Submission of Investor Presentation pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.

Company Update19 Jun 2026

Intimation of the schedule of Non-Deal Roadshow with Investors and Analysts community pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, to be held on Wednesday, June 24, 2026.

Company Update01 Jun 2026

Newspaper Publication regarding Audited Results (Standalone and Consolidated) for the quarter and year ended March 31, 2026

Company Update01 Jun 2026

Please find enclosed Press Release regarding securing of major Order for 152mm Artillery Shells in the Defence Sector.

Company Update30 May 2026

Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, please find enclosed Press Release regarding Financial Results for the quarter and year ended March 31, 2026.

Company Update30 May 2026

Earnings Release for the Quarter and year ended March 31, 2026.

Result30 May 2026

Pursuant to Regulation 33 of the SEBI (LODR) Regulations, 2015, submission of Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2026.

Board Meeting30 May 2026

Outcome of Board Meeting dated May 30, 2026 - Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2026

Company Update30 May 2026

Annual Secretarial Compliance Report for the year ended March 31, 2026.

Company Update28 May 2026

Submission of Postal Ballot Notice pursuant to Regulation 30 and 47 of the SEBI (LODR) Regulations, 2015, published in newspapers.

AGM/EGM27 May 2026

Submission of Noitce of the 01/2026-27 Postal Ballot under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Company Update26 May 2026

Please find enclosed the Press Release regarding securing of Maiden Order in the Aerospace Sector from US-Based company. The details of the same are furnished in the attached Press Release.

Company Update26 May 2026

Please find enclosed Press Release in continuation to earlier Intimation of resignation of Mr. Amit Ashok Todkari, Chief Financial Officer (CFO) of the Company dated May 25, 2026. The details ....

Board Meeting25 May 2026

Balu Forge Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2026 ,inter alia, to consider and approve to consider and approve ....

Company Update25 May 2026

Change in name and Object Clause of "Naya Energy Works Private Limited" to "Quantum Energetics Private Limited", Subsidiary of the Company.

Company Update25 May 2026

Resignation of Mr. Amit Ashok Todkari as Chief Financial Officer (CFO) w.e.f. 25.05.2026 due to personal issues and Appointment of Mr. Sandeep Singh Chadha as Chief Financial Officer (CFO) ....

Company Update25 May 2026

Resignation of Mr. Amit Ashok Todkari as Chief Financial Officer (CFO) w.e.f 25.05.2026 due to personal issues and Appointment of Mr. Sandeep Singh Chadha as Interim Chief Financial Officer ....

Company Update21 May 2026

Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, please note that Mr. Raghvendra Raj Mehta vacated his office of Independent Director on attaining the age of 75 years in accordance ....

Company Update12 Apr 2026

Intimation of Schedule of Plant Visit at Hattargi and Belgaum, Karnataka, followed by Analyst / Institutional Investor Meeting under Regulation 30 of SEBI (Listing Obligations and Disclosure ....

Company Update09 Apr 2026

Pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, we are enclosing herewith Confirmation Certificate for the Quarter ended 31st March, 2026.

Insider Trading / SAST26 Mar 2026

Closure of Trading Window

Insider Trading / SAST16 Mar 2026

The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jaspalsingh P Chandock & PACs

Insider Trading / SAST16 Mar 2026

The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 14, 2026 for Jaspalsingh Prehladsingh Chandock

Insider Trading / SAST16 Mar 2026

The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 14, 2026 for Jaspalsingh Prehladsingh Chandock

Insider Trading / SAST16 Mar 2026

The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 16, 2026 for Jaspalsingh ....

Insider Trading / SAST16 Mar 2026

The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on March ....

Insider Trading / SAST16 Mar 2026

The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on March 16, 2026 for Jaspalsingh ....

Insider Trading / SAST16 Mar 2026

The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on March ....

Insider Trading / SAST13 Mar 2026

The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jaspalsingh P Chandock & PACs

Insider Trading / SAST13 Mar 2026

The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Jaspalsingh P Chandock & PACs

Company Update09 Mar 2026

Allotment of 17,10,000 Equity Shares fully paid up upon exercising the option available with the Share Warrant Holder (Person belonging to Non-Promoter and Promoter Group) to convert the ....

Company Update06 Mar 2026

Allotment of 20,60,000 Equity Shares fully paid up upon exercising the option available with the Share Warrant Holder (person belonging to Non-Promoter and Promoter Group) to convert the ....

Annual Reports

15

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

Credit Ratings

6
crisilRating update
27 Nov 2025Report
crisilRating update
icraRating update
icraRating update
crisilRating update
crisilRating update

Concalls

16

Feb 2026

28 Feb 2026

Nov 2025

30 Nov 2025

Aug 2025

31 Aug 2025

Apr 2025

30 Apr 2025

Mar 2025

31 Mar 2025

Dec 2024

31 Dec 2024

Dec 2024

31 Dec 2024

Dec 2024

31 Dec 2024

Dec 2024

31 Dec 2024

Nov 2024

30 Nov 2024

Oct 2024

31 Oct 2024

Oct 2024

31 Oct 2024

Aug 2024

31 Aug 2024

Jul 2024

31 Jul 2024

May 2023

31 May 2023

Feb 2023

28 Feb 2023

Held by ETFs

1 ETFs hold baluforge · sorted by weight

#ETFWeight %
1

AONETOTAL

AONEAMC - AONETOTAL

0.01%

Held by Mutual Funds

4 schemes hold baluforge · sorted by weight

#SchemeWeight %
1

Bandhan Nifty Total Market Index Fund

Bandhan Mutual Fund

0.01%
2

Motilal Oswal Nifty Microcap 250 Index Fund

Motilal Oswal Mutual Fund

0.24%
3

Motilal Oswal BSE 1000 Index Fund

Motilal Oswal Mutual Fund

0.01%
4

Groww Nifty Total Market Index Fund

Groww Mutual Fund

0.01%