Munish Forge Ltd
Incorporated in July 1986, Munish Forge Limited manufactures components, including flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories.[1]
- Market Cap ₹ 270 Cr.
- Current Price ₹ 112
- High / Low ₹ 143 / 101
- Stock P/E 18.9
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 22.4 %
- ROE 26.5 %
- Face Value ₹ 10.0
Pros
Cons
* 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
Consolidated Figures in Rs. Crores / View Standalone
| Operating Profit |
| OPM % |
| Interest |
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| EPS in Rs |
| Raw PDF |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| 159 | 175 | |
| 148 | 151 | |
| Operating Profit | 11 | 24 |
| OPM % | 7% | 14% |
| 2 | 3 | |
| Interest | 5 | 5 |
| Depreciation | 3 | 3 |
| Profit before tax | 6 | 19 |
| Tax % | 24% | 26% |
| 4 | 14 | |
| EPS in Rs | 45.56 | 8.07 |
| Dividend Payout % | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 10% |
| Compounded Profit Growth | |
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| TTM: | 238% |
| Stock Price CAGR | |
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| Return on Equity | |
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| Last Year: | 27% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Equity Capital | 10 | 18 |
| Reserves | 31 | 50 |
| 47 | 61 | |
| 25 | 33 | |
| Total Liabilities | 113 | 162 |
| 22 | 37 | |
| CWIP | 5 | 0 |
| Investments | 0 | 12 |
| 87 | 113 | |
| Total Assets | 113 | 162 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| 4 | 6 | |
| -5 | -10 | |
| -8 | 8 | |
| Net Cash Flow | -8 | 3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Debtor Days | 46 | 53 |
| Inventory Days | 148 | 192 |
| Days Payable | 38 | 50 |
| Cash Conversion Cycle | 156 | 195 |
| Working Capital Days | 50 | 42 |
| ROCE % | 22% |
Documents
Announcements
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Disclosure of material issue
31 October 2025 - Sukhdeep Kaur resigned as Munish Forge Company Secretary & Compliance Officer, effective October 31, 2025 (immediate).
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General Updates
24 October 2025 - Approved Oct 13, 2025 by Ordnance Factory Chanda for 120mm HE bomb body; samples serviceable after Oct 10 PXE trials.
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Structural Digital Database
21 October 2025 - SDD compliance certificate for quarter and half year ended 30 Sep 2025; no UPSI captured. checklist:["Confirm document type and regulatory context","Assess materiality and investor impact","Classify …
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
15 October 2025 - Registrar's certificate confirming compliance with Regulation 74(5) for period ended 30 September 2025.
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Analysts/Institutional Investor Meet/Con. Call Updates
14 October 2025 - Plant visit and one-on-one investor meetings on 17-Oct-2025 at Ludhiana plant (Sagun Capital, Value Educator, Lorvet Family Office).
Business Profile[1]
The company manufactures forged and cast components with 40+ years of experience, supplying to Defence, Oil & Gas, Automobiles, Construction, and Infrastructure sectors, while also expanding into Railways.