Balu Forge Industries Ltd

Balu Forge Industries Ltd

₹ 634 -0.60%
23 May 9:30 a.m.
About

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]

Key Points

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]

  • Market Cap 6,940 Cr.
  • Current Price 634
  • High / Low 890 / 223
  • Stock P/E 34.0
  • Book Value 96.2
  • Dividend Yield 0.02 %
  • ROCE 31.3 %
  • ROE 25.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 169 to 129 days.
  • Promoter holding has increased by 1.07% over last quarter.
  • Company's working capital requirements have reduced from 168 days to 124 days

Cons

  • 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
82 53 62 89 124 112 139 147 161 175 223 256 270
72 45 57 72 103 90 109 114 127 132 158 188 195
Operating Profit 10 8 5 18 21 22 30 33 34 43 65 68 75
OPM % 12% 15% 8% 20% 17% 19% 22% 22% 21% 25% 29% 26% 28%
5 3 5 3 1 0 4 2 4 1 2 10 4
Interest 2 2 3 3 4 2 4 4 4 2 3 2 4
Depreciation 0 0 0 0 0 0 0 1 1 1 1 1 1
Profit before tax 13 9 7 17 17 19 30 30 35 42 64 74 74
Tax % 20% 17% 34% 33% 12% 13% 22% 16% 18% 18% 25% 20% 15%
11 7 5 11 15 17 23 25 28 34 48 59 63
EPS in Rs 1.29 0.89 0.58 1.37 1.83 2.00 2.32 2.46 2.76 3.33 4.39 5.39 5.73
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
142 286 327 560 924
130 249 277 441 673
Operating Profit 12 37 50 119 251
OPM % 9% 13% 15% 21% 27%
5 8 13 10 17
Interest 7 5 11 14 11
Depreciation 1 1 1 2 3
Profit before tax 10 39 51 114 254
Tax % 22% 24% 23% 18% 20%
8 30 39 94 204
EPS in Rs 1.11 3.63 4.67 9.13 18.63
Dividend Payout % 0% 3% 0% 2% 1%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 48%
TTM: 65%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 89%
TTM: 118%
Stock Price CAGR
10 Years: 24%
5 Years: 79%
3 Years: 86%
1 Year: 115%
Return on Equity
10 Years: %
5 Years: %
3 Years: 25%
Last Year: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 69 82 83 103 111
Reserves 9 76 114 450 942
26 47 52 49 40
68 78 121 111 159
Total Liabilities 171 284 371 712 1,252
42 42 48 57 183
CWIP 0 7 7 130 417
Investments 0 0 0 0 0
129 235 316 525 652
Total Assets 171 284 371 712 1,252

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
17 -58 26 -18 148
-3 -8 -21 -148 -417
-12 69 -6 249 274
Net Cash Flow 2 4 -1 83 5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 156 165 235 142 129
Inventory Days 66 70 56 87 59
Days Payable 157 75 105 78 71
Cash Conversion Cycle 65 160 186 151 117
Working Capital Days 149 191 191 191 124
ROCE % 29% 27% 30% 31%

Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Apr 2025
65.41% 65.41% 65.41% 65.41% 57.47% 56.07% 56.07% 56.07% 54.71% 54.71% 55.25% 55.78%
11.59% 11.59% 7.67% 5.55% 6.48% 8.77% 9.71% 8.51% 10.43% 6.93% 7.07% 6.98%
0.00% 0.00% 0.00% 0.00% 2.00% 1.95% 1.88% 1.43% 0.93% 0.97% 1.07% 1.06%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 4.23% 4.17% 4.13%
23.00% 23.01% 26.92% 29.05% 34.05% 33.21% 32.34% 33.99% 33.93% 33.16% 32.43% 32.06%
No. of Shareholders 5,9866,4787,80612,12913,79818,05423,72329,41950,95566,31073,28373,283

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls