Advance Technoforge Ltd
Incorporated in 2013, Advance Technoforge Limited is engaged in the manufacturing and supplying of the forged and precision machined parts.[1]
- Market Cap ₹ 67.7 Cr.
- Current Price ₹ 75.0
- High / Low ₹ 94.0 / 51.0
- Stock P/E 12.8
- Book Value ₹ 41.6
- Dividend Yield 0.00 %
- ROCE 24.6 %
- ROE 35.4 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 49.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.0%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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
Industrials Capital Goods Industrial Products Castings & Forgings
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 24.41 | 31.44 | 37.79 | 47.92 | 50.68 | 50.01 | 64.94 | |
| Sales growth | +28.80% | +20.20% | +26.81% | +5.76% | -1.32% | ||
| 22.22 | 29.57 | 35.44 | 44.24 | 45.58 | 42.24 | 55.50 | |
| Operating Profit | 2.19 | 1.87 | 2.35 | 3.68 | 5.10 | 7.77 | 9.44 |
| OPM % | 8.97% | 5.95% | 6.22% | 7.68% | 10.06% | 15.54% | 14.54% |
| 0.01 | 0.00 | 0.00 | 0.18 | 0.45 | 0.59 | 1.02 | |
| Interest | 0.97 | 0.81 | 0.83 | 1.00 | 1.32 | 1.54 | 1.73 |
| Depreciation | 0.48 | 0.48 | 0.54 | 0.59 | 0.70 | 1.29 | 1.74 |
| Profit before tax | 0.75 | 0.58 | 0.98 | 2.27 | 3.53 | 5.53 | 6.99 |
| Tax % | 25.33% | 32.76% | 23.47% | 25.11% | 23.51% | 26.58% | |
| 0.55 | 0.40 | 0.75 | 1.70 | 2.70 | 4.06 | 5.29 | |
| EPS in Rs | 0.85 | 0.62 | 1.15 | 2.62 | 4.15 | 6.25 | 6.84 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 10% |
| TTM: | -1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 50% |
| 3 Years: | 70% |
| TTM: | 53% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 33% |
| Last Year: | 35% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.50 | 0.50 | 0.50 | 0.50 | 6.50 | 6.50 | 9.03 |
| Reserves | 3.58 | 3.98 | 4.73 | 6.44 | 3.13 | 7.19 | 28.50 |
| 7.84 | 7.46 | 8.51 | 11.19 | 17.51 | 17.30 | 13.14 | |
| 7.43 | 10.06 | 8.43 | 10.52 | 12.37 | 15.93 | 19.88 | |
| Total Liabilities | 19.35 | 22.00 | 22.17 | 28.65 | 39.51 | 46.92 | 70.55 |
| 5.57 | 5.82 | 6.38 | 7.25 | 13.65 | 17.24 | 19.51 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.31 | 2.10 | 0.00 | 0.00 |
| Investments | 0.00 | 0.10 | 0.54 | 0.00 | 0.00 | 0.00 | 0.00 |
| 13.78 | 16.08 | 15.25 | 21.09 | 23.76 | 29.68 | 51.04 | |
| Total Assets | 19.35 | 22.00 | 22.17 | 28.65 | 39.51 | 46.92 | 70.55 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -0.52 | 1.69 | 1.41 | 0.19 | 3.79 | 4.45 | |
| 0.38 | -0.49 | -1.64 | -1.82 | -8.80 | -2.71 | |
| 0.10 | -1.23 | 0.23 | 1.67 | 5.03 | -1.75 | |
| Net Cash Flow | -0.04 | -0.03 | 0.00 | 0.04 | 0.01 | -0.01 |
| Free Cash Flow | -0.15 | 0.85 | 0.20 | -1.67 | -5.10 | 1.58 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -16% | 99% | 68% | 20% | 91% | 69% |
Ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 117.38 | 103.79 | 90.31 | 89.04 | 87.43 | 96.05 |
| Inventory Days | 141.13 | 121.49 | 82.55 | 110.90 | 107.09 | 190.96 |
| Days Payable | 177.01 | 163.83 | 105.75 | 119.53 | 147.51 | 204.98 |
| Cash Conversion Cycle | 81.50 | 61.45 | 67.10 | 80.41 | 47.01 | 82.03 |
| Working Capital Days | 43.66 | 21.83 | 23.66 | 20.79 | -3.24 | 8.25 |
| ROCE % | 12.66% | 15.03% | 21.09% | 21.43% | 24.63% |
Documents
Announcements
-
Disclosure As per Regulation 32 Of SEBI (LODR) Regulations, 2015- Statement Indicating Utilization Of Issue Proceeds And/Or Material Deviation Or Variation For The Half Year Ended September 30, 2026
- IPO proceeds ₹20.43 crore used ₹7.43 crore by Sept 30, 2026; no deviation.
-
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE HALF YEAR ENDED ON SEPTEMBER 30, 2026
- Board approved H1 FY27 standalone results: revenue ₹3,733.74 lakh, PAT ₹299.84 lakh on November 5, 2026.
-
Board Meeting Outcome for OUTCOME OF BOARD MEETING - STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED ON SEPTEMBER 30, 2026
- Board approved unaudited standalone results for half year ended 30 September 2026; PAT rose to Rs 299.84 lakh.
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Board Meeting Intimation for CONSIDER AND APPROVE STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED ON SEPTEMBER 30, 2026
- Board meets November 5, 2026 to approve half-year standalone unaudited results; trading window closed from October 1.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Pursuant to Regulation 74(5) of SEBI (DP) Regulations,2018, we enclose herewith confirmation certificate received from KFin Technologies Limited, RTA of the company for the quarter …
Business Profile:[1]
Advance Technoforge Ltd. is a precision forging company engaged in manufacturing forged steel and precision machined components made from carbon steel, alloy steel and stainless steel. The company specializes in Closed Die Forging, Upset Forging and Ring Rolling Forging, supplying both rough and fully machined components to OEMs across automotive, oil & gas, railways, earthmoving, agriculture, power transmission and industrial engineering sectors.