Ganga Forging Ltd
Incorporated in 1988, Ganga Forging Ltd is in the business of production and job work of forging items
- Market Cap ₹ 51.4 Cr.
- Current Price ₹ 3.81
- High / Low ₹ 9.27 / 2.98
- Stock P/E
- Book Value ₹ 2.39
- Dividend Yield 0.00 %
- ROCE 3.13 %
- ROE 1.01 %
- Face Value ₹ 1.00
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding is low: 39.2%
- Company has a low return on equity of 2.86% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.0.82 Cr.
- Promoter holding has decreased over last 3 years: -28.4%
* 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
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|
8.98 | 17.36 | 24.87 | 27.88 | 23.64 | 22.98 | 28.83 | 33.41 | 37.21 | 43.22 | 42.46 | |
8.15 | 16.22 | 22.90 | 25.53 | 24.39 | 21.28 | 26.28 | 31.41 | 34.71 | 40.96 | 40.86 | |
Operating Profit | 0.83 | 1.14 | 1.97 | 2.35 | -0.75 | 1.70 | 2.55 | 2.00 | 2.50 | 2.26 | 1.60 |
OPM % | 9.24% | 6.57% | 7.92% | 8.43% | -3.17% | 7.40% | 8.84% | 5.99% | 6.72% | 5.23% | 3.77% |
0.01 | 0.02 | 0.03 | 0.17 | 0.10 | 0.10 | 1.26 | 0.57 | 0.10 | 0.64 | 0.82 | |
Interest | 0.33 | 0.46 | 0.79 | 1.12 | 1.27 | 0.79 | 0.95 | 0.81 | 0.85 | 0.96 | 0.90 |
Depreciation | 0.30 | 0.41 | 0.50 | 0.74 | 0.88 | 0.87 | 0.88 | 0.88 | 1.00 | 1.07 | 1.10 |
Profit before tax | 0.21 | 0.29 | 0.71 | 0.66 | -2.80 | 0.14 | 1.98 | 0.88 | 0.75 | 0.87 | 0.42 |
Tax % | 42.86% | 72.41% | 35.21% | 21.21% | -24.64% | -85.71% | 47.47% | -88.64% | 41.33% | 28.74% | |
0.11 | 0.09 | 0.46 | 0.52 | -2.12 | 0.25 | 1.03 | 1.66 | 0.44 | 0.61 | 0.11 | |
EPS in Rs | 2.20 | 1.80 | 0.06 | 0.05 | -0.20 | 0.02 | 0.10 | 0.16 | 0.03 | 0.05 | 0.01 |
Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 13% |
3 Years: | 14% |
TTM: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 17% |
3 Years: | -21% |
TTM: | -149% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 23% |
3 Years: | -15% |
1 Year: | -57% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 3% |
3 Years: | 3% |
Last Year: | 1% |
Balance Sheet
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.35 | 0.35 | 5.57 | 7.95 | 7.95 | 10.60 | 10.60 | 10.60 | 13.42 | 13.48 |
Reserves | 0.87 | 0.96 | 3.02 | 6.17 | 4.05 | 0.12 | 1.05 | 2.74 | 17.99 | 18.71 |
4.37 | 2.84 | 7.83 | 12.67 | 11.57 | 10.54 | 11.67 | 14.30 | 9.98 | 16.58 | |
2.70 | 5.42 | 8.75 | 8.47 | 9.48 | 9.69 | 7.73 | 7.08 | 4.92 | 9.92 | |
Total Liabilities | 8.29 | 9.57 | 25.17 | 35.26 | 33.05 | 30.95 | 31.05 | 34.72 | 46.31 | 58.69 |
1.95 | 1.89 | 9.34 | 15.68 | 15.05 | 14.55 | 13.90 | 15.55 | 16.48 | 17.79 | |
CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.36 | 0.00 | 2.21 | 0.75 | 0.00 | 0.39 |
Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
6.34 | 7.68 | 15.83 | 19.58 | 17.64 | 16.40 | 14.94 | 18.42 | 29.83 | 40.51 | |
Total Assets | 8.29 | 9.57 | 25.17 | 35.26 | 33.05 | 30.95 | 31.05 | 34.72 | 46.31 | 58.69 |
Cash Flows
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00 | -1.83 | 2.35 | 1.98 | 1.33 | -1.09 | -10.64 | -4.11 | ||
0.00 | 0.00 | -6.91 | -0.60 | -0.03 | -1.69 | -0.56 | -1.16 | -2.21 | ||
0.00 | 0.00 | 8.81 | -1.76 | -1.83 | 0.19 | 1.81 | 12.47 | 5.79 | ||
Net Cash Flow | 0.00 | 0.00 | 0.07 | -0.02 | 0.12 | -0.17 | 0.17 | 0.68 | -0.53 |
Ratios
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 144.29 | 97.14 | 119.32 | 119.79 | 135.56 | 114.84 | 61.02 | 62.38 | 83.08 | 67.65 |
Inventory Days | 155.46 | 87.56 | 132.52 | 204.65 | 181.30 | 182.42 | 244.86 | 244.26 | ||
Days Payable | 151.16 | 159.41 | 162.53 | 183.92 | 82.43 | 75.71 | 29.39 | 80.58 | ||
Cash Conversion Cycle | 148.59 | 25.29 | 89.31 | 119.79 | 135.56 | 135.56 | 159.89 | 169.09 | 298.55 | 231.33 |
Working Capital Days | 56.50 | 0.84 | -0.59 | 38.23 | -5.40 | 12.39 | 29.88 | 25.78 | 161.85 | 95.94 |
ROCE % | 15.40% | 7.50% | -6.08% | 4.33% | 9.78% | 4.67% | 4.61% | 3.13% |
Documents
Announcements
-
Copy of Newspaper Publication
5 September 2025 - AGM notice published in Financial Express (English 04 Sep 2025; Gujarati 05 Sep 2025).
-
Shareholders meeting
3 September 2025 - Annual Report and AGM notice: AGM 27 Sep 2025; e-voting 24–26 Sep; FY2024-25 revenue Rs43.45 Cr.
-
Copy of Newspaper Publication
15 August 2025 - Intimation of newspaper publication of Q1 FY2026 standalone unaudited financial results.
-
Outcome of Board Meeting
14 August 2025 - Q1 FY2025 standalone results approved; insider trading and disclosure policies amended.
-
Outcome of Board Meeting
14 August 2025 - Ganga Forging approved Q1 FY2026 unaudited results; revenue Rs.774.55L, minor loss reported, audit review clean.
Business Overview:[1][2]
Company manufactures closed die forged products for both automotive and non automotive segment. Company's forging unit caters to needs of OEM customers and also part manufacturing units by offering them products. Company also exports forged components in raw, semi finished or finished stage depending upon requirements of its buyers