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 ₹ 6,284 Cr.
- Current Price ₹ 518
- High / Low ₹ 678 / 341
- Stock P/E 23.4
- Book Value ₹ 131
- Dividend Yield 0.03 %
- ROCE 22.7 %
- ROE 19.6 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 102% CAGR over last 5 years
Cons
- Promoter holding has decreased over last quarter: -0.88%
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 142 | 286 | 327 | 560 | 924 | 1,107 | 1,175 | |
| 130 | 249 | 277 | 441 | 673 | 808 | 863 | |
| Operating Profit | 12 | 37 | 50 | 119 | 251 | 300 | 312 |
| OPM % | 9% | 13% | 15% | 21% | 27% | 27% | 27% |
| 5 | 8 | 13 | 10 | 17 | 33 | 35 | |
| Interest | 7 | 5 | 11 | 14 | 11 | 16 | 19 |
| Depreciation | 1 | 1 | 1 | 2 | 3 | 10 | 12 |
| Profit before tax | 10 | 39 | 51 | 114 | 254 | 306 | 317 |
| Tax % | 22% | 24% | 23% | 18% | 20% | 15% | |
| 8 | 30 | 39 | 93 | 204 | 259 | 268 | |
| EPS in Rs | 1.11 | 3.63 | 4.67 | 9.11 | 18.63 | 21.33 | 22.75 |
| Dividend Payout % | 0% | 3% | 0% | 2% | 1% | 1% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 51% |
| 3 Years: | 50% |
| TTM: | 20% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 102% |
| 3 Years: | 88% |
| TTM: | 18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 30% |
| 5 Years: | 15% |
| 3 Years: | 37% |
| 1 Year: | -21% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 22% |
| Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 69 | 82 | 83 | 103 | 111 | 121 |
| Reserves | 9 | 76 | 114 | 450 | 942 | 1,473 |
| 26 | 47 | 52 | 49 | 40 | 152 | |
| 68 | 78 | 121 | 111 | 159 | 104 | |
| Total Liabilities | 171 | 284 | 371 | 712 | 1,252 | 1,851 |
| 42 | 42 | 48 | 57 | 183 | 547 | |
| CWIP | 0 | 7 | 7 | 130 | 417 | 277 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 129 | 235 | 316 | 525 | 652 | 1,027 | |
| Total Assets | 171 | 284 | 371 | 712 | 1,252 | 1,851 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 17 | -58 | 26 | -32 | 148 | 32 | |
| -3 | -8 | -21 | -134 | -416 | -354 | |
| -12 | 69 | -6 | 249 | 273 | 315 | |
| Net Cash Flow | 2 | 4 | -1 | 83 | 5 | -7 |
| Free Cash Flow | 14 | -65 | 5 | -166 | -268 | -322 |
| CFO/OP | 159% | -161% | 52% | -12% | 73% | 15% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 156 | 165 | 235 | 142 | 129 | 140 |
| Inventory Days | 66 | 70 | 56 | 87 | 59 | 75 |
| Days Payable | 157 | 75 | 105 | 78 | 71 | 32 |
| Cash Conversion Cycle | 65 | 160 | 186 | 151 | 117 | 182 |
| Working Capital Days | 113 | 141 | 146 | 175 | 116 | 158 |
| ROCE % | 29% | 27% | 30% | 31% | 23% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Defence/Aerospace/Railway Revenue Share % of revenue |
|
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| Machining Capacity MTPA |
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| R&D Team Size professionals |
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| Approved Products for Defence Sector products |
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| Number of Countries Served countries |
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| Number of OEM Customers OEMs |
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| Empty Shell Production Capacity shells per annum |
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| Forging Capacity MTPA |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Intimation of schedule of Analyst / Institutional Investor Meeting pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, to be held on Friday, September 11, …
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Dispatch Of Letter To Shareholders Providing Web-Link To Annual Report
- Annual Report 2025-26 and 37th AGM notice web links shared with shareholders.
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Business Responsibility and Sustainability Reporting (BRSR)
- Balu Forge submitted FY2025-26 BRSR under SEBI Regulation 34(2)(f).
- Reg. 34 (1) Annual Report.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Product Portfolio:[1]
a) Auto Components
- Crankshaft **
- Under Carriage Components **
- Chassis components: Front axle beams, Steering knuckles, Control arms, Forks, Steering components
- Transmission & Clutch Systems: Drive shafts, Input shafts, Output shafts, Main shafts, Yokes
- Brake Components:Hubs, Brake flanges, Brake discs, Calipers
- Towing Accessories: Swan necks, Flange balls, Tow bars