Balu Forge Industries Ltd
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]
- Market Cap ₹ 6,950 Cr.
- Current Price ₹ 635
- High / Low ₹ 890 / 223
- Stock P/E 51.8
- Book Value ₹ 86.7
- Dividend Yield 0.02 %
- ROCE 25.1 %
- ROE 18.3 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 407% CAGR over last 5 years
- Promoter holding has increased by 1.07% over last quarter.
- Company's working capital requirements have reduced from 201 days to 149 days
Cons
- Stock is trading at 7.32 times its book value
- Company has high debtors of 163 days.
- Promoter holding has decreased over last 3 years: -10.5%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Castings, Forgings & Fastners Industry: Castings & Forgings
Part of BSE SmallCap BSE Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 142 | 285 | 269 | 388 | 598 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 130 | 247 | 227 | 296 | 418 | |
| Operating Profit | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 12 | 38 | 43 | 92 | 181 |
| OPM % | -180% | -33% | 45% | 39% | 30% | 9% | 13% | 16% | 24% | 30% | ||
| 0 | 0 | 0 | 0 | 0 | -0 | 0 | 5 | 8 | 13 | 11 | 17 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 5 | 10 | 14 | 11 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 3 |
| Profit before tax | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 10 | 40 | 44 | 87 | 184 |
| Tax % | 0% | 0% | 0% | 22% | -280% | 43% | 22% | 23% | 27% | 23% | 27% | |
| 0 | 0 | -0 | 0 | 0 | 0 | 0 | 8 | 30 | 32 | 67 | 134 | |
| EPS in Rs | 0.00 | 0.29 | -0.57 | 0.86 | 2.00 | 5.43 | 1.14 | 1.11 | 3.70 | 3.84 | 6.55 | 12.26 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 3% | 0% | 2% | 1% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 396% |
| 3 Years: | 28% |
| TTM: | 54% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 159% |
| 5 Years: | 407% |
| 3 Years: | 64% |
| TTM: | 100% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 25% |
| 5 Years: | 79% |
| 3 Years: | 88% |
| 1 Year: | 115% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 19% |
| 3 Years: | 18% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 69 | 82 | 83 | 103 | 111 |
| Reserves | -3 | -0 | -0 | -0 | -0 | -0 | 0 | 9 | 77 | 108 | 418 | 838 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26 | 47 | 52 | 49 | 40 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 68 | 78 | 108 | 106 | 152 | |
| Total Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 171 | 285 | 351 | 675 | 1,141 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42 | 42 | 43 | 52 | 178 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 7 | 130 | 417 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 129 | 236 | 301 | 493 | 545 | |
| Total Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 171 | 285 | 351 | 675 | 1,141 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | -0 | 0 | -0 | -0 | 0 | 0 | 17 | -57 | 20 | 8 | 148 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3 | -8 | -16 | -174 | -416 | |
| -0 | 0 | 0 | 0 | 0 | -0 | -0 | -12 | 69 | -6 | 249 | 274 | |
| Net Cash Flow | -0 | -0 | 0 | -0 | -0 | 0 | -0 | 2 | 4 | -1 | 83 | 5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 122 | 274 | 0 | 73 | 156 | 167 | 266 | 179 | 163 | ||
| Inventory Days | 0 | 66 | 68 | 67 | 120 | 73 | ||||||
| Days Payable | 157 | 75 | 114 | 118 | 112 | |||||||
| Cash Conversion Cycle | 0 | 122 | 274 | 0 | 73 | 65 | 160 | 219 | 182 | 124 | ||
| Working Capital Days | -73 | 122 | 237 | -20 | -18 | 149 | 192 | 230 | 224 | 149 | ||
| ROCE % | 0% | 33% | -20% | 47% | 69% | 30% | 22% | 31% | 29% | 24% | 25% | 25% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment
22h - Allotment of 19 lakh shares at Rs.360 each to Ebisu Global, raising Rs.51.3 crore.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
1d - Annual Secretarial Compliance Report confirming full regulatory compliance for FY ended March 2025.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
21 May - Of Schedule of Investor/Analyst Meet under Regulation 30 of SEBI (LODR) Regulations, 2015 to be held on Friday, May 23, 2025.
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Corporate Presentation
20 May - Balu Forge submits updated corporate presentation detailing capabilities, history, and defence expansion plans.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
17 May - Extract of Newspaper Publications relating to the Financial Results for the quarter and year ended March 31, 2025.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Apr 2025TranscriptNotesPPT
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Mar 2025TranscriptNotesPPT
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Dec 2024TranscriptNotesPPT
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Dec 2024TranscriptNotesPPT
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Dec 2024TranscriptNotesPPT
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Dec 2024TranscriptNotesPPT
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Nov 2024TranscriptNotesPPT
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Oct 2024TranscriptNotesPPT
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Oct 2024TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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Jul 2024TranscriptNotesPPT
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May 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
Product Offerings
The company manufactures fully finished and semi-finished forged components like crankshafts, railway wheels, transmission clutches, hydraulic motors, hooks, brake parts, etc. [1] [2]