M M Forgings Ltd

M M Forgings Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

M M Forgings Ltd

₹ 368 2.04%
19 Jun - close price
mmforgings.com BSE: 522241 NSE: MMFL
About

M M Forgings Limited is engaged in the business of manufacturing Steel Forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy and Stainless Steels. [1]

Key Points

History[1]
The Co. was established in 1946 and dealt in the retail business of imported Royal Enfield bikes. In 1974 it diversified to establish its first steel forging plant in Tamil Nadu. In 1990 it wound up its business of dealing in Royal Enfield Bikes & promoter's stake in Enfield India Limited was diluted to focus on the forging vertical.

Website BSE NSE
  • Market Cap ₹ 1,784 Cr.
  • Current Price ₹ 368
  • High / Low ₹ 730 / 303
  • Stock P/E 13.1
  • Book Value ₹ 193
  • Dividend Yield 1.09 %
  • ROCE 14.4 %
  • ROE 15.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.

Cons

  • Company might be capitalizing the interest cost
  • Debtor days have increased from 78.5 to 101 days.

* 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

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
315 333 342 361 373 366 384 388 389 369 389 364 355
260 273 280 295 309 303 312 313 313 297 313 291 282
Operating Profit 55 60 62 66 64 63 72 75 75 72 77 73 72
OPM % 17% 18% 18% 18% 17% 17% 19% 19% 19% 19% 20% 20% 20%
5 1 5 6 5 6 5 7 7 7 8 6 8
Interest 6 6 7 8 7 10 9 11 13 15 16 15 15
Depreciation 15 15 17 17 18 18 18 19 18 19 20 20 23
Profit before tax 39 39 42 47 44 41 51 53 52 44 49 44 43
Tax % 76% 24% 25% 28% 36% 27% 28% 29% 26% 27% 27% 27% 16%
9 30 32 34 28 30 37 37 38 32 36 32 36
EPS in Rs 1.90 6.12 6.60 7.01 5.87 6.21 7.58 7.71 7.88 6.71 7.44 6.56 7.50
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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
411 503 502 478 621 904 727 726 1,105 1,413 1,527 1,477
332 392 394 386 496 731 602 604 903 1,154 1,239 1,183
Operating Profit 79 111 108 93 124 173 125 121 202 258 288 294
OPM % 19% 22% 22% 19% 20% 19% 17% 17% 18% 18% 19% 20%
3 2 5 11 12 16 19 22 19 16 26 30
Interest 8 9 8 10 13 26 33 31 27 30 43 61
Depreciation 36 35 36 39 42 54 53 57 60 69 72 82
Profit before tax 38 69 69 55 82 109 57 55 133 176 199 180
Tax % 24% 26% 28% 21% 17% 25% 19% 15% 31% 28% 27% 24%
29 51 50 43 69 81 46 47 92 126 145 136
EPS in Rs 6.08 10.49 10.39 9.01 14.21 16.84 9.57 9.65 19.00 26.17 30.12 28.22
Dividend Payout % 16% 14% 14% 17% 18% 15% 26% 26% 16% 11% 13% 14%
Compounded Sales Growth
10 Years: 11%
5 Years: 15%
3 Years: 10%
TTM: -3%
Compounded Profit Growth
10 Years: 10%
5 Years: 24%
3 Years: 14%
TTM: -6%
Stock Price CAGR
10 Years: 9%
5 Years: 33%
3 Years: -2%
1 Year: -40%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 18%
Last Year: 16%

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 12 12 12 12 12 24 24 24 24 24 24 48
Reserves 184 226 268 303 357 412 444 476 554 666 792 886
151 190 214 224 381 688 566 532 680 756 925 670
31 45 45 51 86 93 105 230 181 227 254 800
Total Liabilities 378 473 538 589 836 1,217 1,140 1,263 1,439 1,673 1,996 2,404
200 225 262 320 365 588 653 618 650 719 818 861
CWIP 7 11 30 14 27 39 9 17 36 61 112 361
Investments 0 0 0 0 4 5 5 5 33 41 41 22
171 237 245 255 440 585 473 623 720 853 1,025 1,160
Total Assets 378 473 538 589 836 1,217 1,140 1,263 1,439 1,673 1,996 2,404

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
35 106 123 107 -14 33 273 10 147 116 145 191
-40 -63 -86 -69 -93 -275 -71 -12 -126 -160 -201 -330
6 21 -5 -25 137 249 -199 14 17 21 63 147
Net Cash Flow 1 64 32 13 30 8 2 13 38 -23 6 8

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 26 21 11 13 33 32 6 61 55 59 76 101
Inventory Days 158 139 128 119 177 167 143 177 139 157 165 192
Days Payable 32 48 52 52 87 43 78 103 83 87 83 115
Cash Conversion Cycle 151 111 87 80 123 157 71 135 112 129 157 177
Working Capital Days 83 59 45 25 60 78 10 62 83 88 109 101
ROCE % 13% 20% 17% 13% 15% 14% 8% 8% 14% 15% 15% 14%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
56.34% 56.33% 56.33% 56.33% 56.33% 56.33% 56.33% 56.33% 56.33% 56.33% 56.33% 56.33%
0.82% 0.91% 1.16% 1.65% 1.64% 1.72% 1.93% 2.28% 2.85% 3.41% 3.75% 3.09%
17.99% 16.32% 16.65% 17.02% 16.59% 15.66% 14.47% 11.83% 10.72% 10.50% 9.85% 8.92%
24.86% 26.44% 25.85% 25.00% 25.44% 26.29% 27.27% 29.56% 30.10% 29.75% 30.06% 31.65%
No. of Shareholders 12,41915,39815,53014,77515,84416,57018,42922,52927,47834,49433,87834,349

* 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.

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