Nifty

:

24085.70

Sensex

:

77155.62

96.55 (0.40%)
347.14 (0.45%)

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Nifty
Sensex

:
:

24085.70
77155.62

96.55 (0.40%)
347.14 (0.45%)

Balu Forge Industries Ltd.

Forgings

Rating :

65/99

BSE: 531112 | NSE: BALUFORGE

Watchlist

NSE BSE

451.45

16-Jun-2026

Open
High
Low
Previous Close

452
456
447.2
448.65

Volume
Traded Value (lacs)
52 Week High
52 Week Low

282545
127533696
719
341.05

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

5,483.88
21.18
10

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

5,521.60
N/A
3.44

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

155.75
45.41
41.41

EBITDA CAGR (%)

10 Years
5 Years
3 Years

-
82.25
37.68

PAT CAGR (%)

10 Years
5 Years
3 Years

-
92.96
73.68

P:E (Median)

8 Years
5 Years
3 Years

33.44
33.44
36.19

P:BV (Average)

8 Years
5 Years
3 Years

5.88
5.88
6.35

EV:EBITDA (Average)

8 Years
5 Years
3 Years

25.33
25.33
28.03

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var%
Net Sales 159.31 157.50 1.15% 171.20 160.61 6.59% 166.91 157.38 6.06% 150.00 122.99 21.96%
Expenses 120.32 106.96 12.49% 119.34 112.15 6.41% 113.73 108.54 4.78% 101.26 90.19 12.27%
EBITDA 38.99 50.54 -22.85% 51.86 48.45 7.04% 53.18 48.84 8.89% 48.75 32.81 48.58%
EBIDTM 24.47% 32.09% 30.29% 30.17% 31.86% 31.03% 32.50% 26.67%
Other Income 23.55 4.34 442.63% 4.38 9.41 -53.45% 3.30 2.50 32.00% 2.06 1.19 73.11%
Interest 4.78 4.25 12.47% 5.36 2.25 138.22% 4.02 2.93 37.20% 2.22 1.54 44.16%
Depreciation 3.03 0.76 298.68% 2.77 0.69 301.45% 1.99 0.68 192.65% 1.53 0.65 135.38%
PBT 54.73 49.87 9.75% 48.11 54.91 -12.38% 50.46 47.73 5.72% 47.06 31.80 47.99%
Tax 9.68 11.38 -14.94% 9.57 15.16 -36.87% 14.88 15.81 -5.88% 13.01 7.75 67.87%
PAT 45.05 38.50 17.01% 38.54 39.76 -3.07% 35.58 31.92 11.47% 34.04 24.06 41.48%
PATM 28.28% 24.44% 22.51% 24.75% 21.32% 20.28% 22.70% 19.56%
EPS 3.92 3.35 17.01% 3.35 3.46 -3.18% 3.09 2.78 11.15% 2.96 2.09 41.63%

Description Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var%
Net Sales 263.56 269.65 -2.26% 311.11 255.78 21.63% 299.51 222.88 34.38% 233.20 175.31 33.02%
Expenses 203.63 194.67 4.60% 226.57 188.08 20.46% 216.70 157.66 37.45% 160.92 132.10 21.82%
EBITDA 59.92 74.98 -20.09% 84.54 67.70 24.87% 82.81 65.22 26.97% 72.27 43.20 67.29%
EBIDTM 22.74% 27.81% 27.17% 26.47% 27.65% 29.26% 30.99% 24.64%
Other Income 23.47 4.17 462.83% 4.47 9.57 -53.29% 3.29 2.35 40.00% 1.68 1.06 58.49%
Interest 4.78 4.21 13.54% 5.41 2.26 139.38% 4.03 2.94 37.07% 2.23 1.55 43.87%
Depreciation 3.19 0.87 266.67% 2.93 0.85 244.71% 2.15 0.83 159.04% 1.69 0.80 111.25%
PBT 75.42 74.06 1.84% 80.67 74.16 8.78% 79.92 63.80 25.27% 70.04 41.91 67.12%
Tax 9.68 11.38 -14.94% 9.57 15.16 -36.87% 14.88 15.81 -5.88% 13.01 7.75 67.87%
PAT 65.74 62.69 4.87% 71.09 59.00 20.49% 65.04 47.99 35.53% 57.03 34.17 66.90%
PATM 24.94% 23.25% 22.85% 23.07% 21.71% 21.53% 24.45% 19.49%
EPS 5.42 5.66 -4.24% 6.18 5.39 14.66% 5.71 4.39 30.07% 5.00 3.33 50.15%

Annual Results

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Net Sales 647.42 598.48 388.08 269.06 285.06 142.09 0.20 0.18 0.20 0.12 0.05 Net Sales Growth 8.18% 54.22% 44.24% -5.61% 100.62% 70945.00% 11.11% -10.0% 66.67% 140.0% Cost Of Goods Sold 386.71 366.12 245.07 183.12 219.52 110.73 0.00 0.00 0.00 0.00 0.04 Gross Profit 260.71 232.37 143.01 85.94 65.54 31.36 0.20 0.18 0.20 0.12 0.01 GP Margin 40.27% 38.83% 36.85% 31.94% 22.99% 22.07% 100% 100% 100% 100% 20.0% Total Expenditure 454.65 423.60 296.30 226.55 247.42 129.84 0.14 0.13 0.11 0.16 0.14 Power & Fuel Cost - 0.06 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 % Of Sales - 0.01% 0.02% 0% 0% 0% 0% 0% 0% 0% 0% Employee Cost - 11.64 6.62 4.88 4.45 3.21 0.04 0.02 0.01 0.02 0.02 % Of Sales - 1.94% 1.71% 1.81% 1.56% 2.26% 20.0% 11.11% 5.00% 16.67% 40.0% Manufacturing Exp. - 2.40 2.90 1.21 0.38 2.29 0.00 0.00 0.00 0.01 0.00 % Of Sales - 0.40% 0.75% 0.45% 0.13% 1.61% 0% 0% 0% 8.33% 0% General & Admin Exp. - 15.52 10.49 9.15 8.96 7.60 0.08 0.09 0.09 0.12 0.08 % Of Sales - 2.59% 2.70% 3.40% 3.14% 5.35% 40.0% 50.0% 45.00% 100% 160.0% Selling & Distn. Exp. - 25.14 21.35 12.81 13.03 5.66 0.00 0.00 0.01 0.00 0.00 % Of Sales - 4.20% 5.50% 4.76% 4.57% 3.98% 0% 0% 5.00% 0% 0% Miscellaneous Exp. - 2.74 9.81 15.38 1.08 0.37 0.01 0.02 0.00 0.01 0.00 % Of Sales - 0.46% 2.53% 5.72% 0.38% 0.26% 5.00% 11.11% 0% 8.33% 0% EBITDA 192.78 174.88 91.78 42.51 37.64 12.25 0.06 0.05 0.09 -0.04 -0.09 EBITDA Margin 29.78% 29.22% 23.65% 15.80% 13.20% 8.62% 30.0% 27.78% 45.00% -33.33% -180.0% Other Income 33.29 23.20 10.63 12.81 8.53 5.25 0.01 0.00 0.00 0.08 0.08 Interest 16.38 10.97 13.61 10.48 5.23 6.61 0.00 0.00 0.00 0.00 0.00 Depreciation 9.32 2.79 1.48 1.19 1.05 1.14 0.00 0.00 0.00 0.00 0.00 PBT 200.36 184.32 87.32 43.65 39.88 9.74 0.07 0.05 0.09 0.03 -0.02 Tax 47.14 50.09 20.17 11.65 9.24 2.12 0.03 -0.14 0.02 0.00 0.00 Tax Rate 23.53% 27.18% 23.10% 26.69% 23.29% 21.77% 42.86% -280.00% 22.22% 0.00% 0.00% PAT 153.21 134.23 67.14 31.99 30.44 7.62 0.04 0.19 0.07 0.03 -0.02 PAT before Minority Interest 153.21 134.23 67.14 31.99 30.44 7.62 0.04 0.19 0.07 0.03 -0.02 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 23.66% 22.43% 17.30% 11.89% 10.68% 5.36% 20.0% 105.56% 35.00% 25.00% -40.0% PAT Growth 14.13% 99.93% 109.88% 5.09% 299.48% 18,950.00% -78.95% 171.43% 133.33% - EPS 13.32 11.67 5.84 2.78 2.65 0.66 0.00 0.02 0.01 0.00 0.00

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21
Net Sales 1,107.38 923.62 559.86 326.64 286.08 142.09 Net Sales Growth 19.90% 64.97% 71.40% 14.18% 101.34% Cost Of Goods Sold 709.57 602.64 376.32 226.80 220.28 110.73 Gross Profit 397.81 320.97 183.54 99.84 65.81 31.36 GP Margin 35.92% 34.75% 32.78% 30.57% 23.00% 22.07% Total Expenditure 807.82 677.31 440.74 276.86 249.03 129.84 Power & Fuel Cost - 0.20 0.24 0.00 0.00 0.00 % Of Sales - 0.02% 0.04% 0% 0% 0% Employee Cost - 21.33 12.31 6.83 4.45 3.21 % Of Sales - 2.31% 2.20% 2.09% 1.56% 2.26% Manufacturing Exp. - 2.40 2.90 1.21 0.38 2.29 % Of Sales - 0.26% 0.52% 0.37% 0.13% 1.61% General & Admin Exp. - 19.40 13.58 11.55 9.77 7.60 % Of Sales - 2.10% 2.43% 3.54% 3.42% 5.35% Selling & Distn. Exp. - 28.54 24.40 15.99 13.07 5.66 % Of Sales - 3.09% 4.36% 4.90% 4.57% 3.98% Miscellaneous Exp. - 2.80 11.00 14.48 1.08 0.37 % Of Sales - 0.30% 1.96% 4.43% 0.38% 0.26% EBITDA 299.54 246.31 119.12 49.78 37.05 12.25 EBITDA Margin 27.05% 26.67% 21.28% 15.24% 12.95% 8.62% Other Income 32.91 21.94 10.23 12.65 8.53 5.25 Interest 16.45 10.96 13.64 10.53 5.23 6.61 Depreciation 9.96 3.35 2.05 1.33 1.05 1.14 PBT 306.05 253.94 113.66 50.57 39.29 9.74 Tax 47.14 50.09 20.17 11.65 9.24 2.12 Tax Rate 15.40% 19.73% 17.75% 23.04% 23.64% 21.77% PAT 258.90 203.86 93.49 38.91 29.84 7.62 PAT before Minority Interest 258.90 203.86 93.49 38.91 29.84 7.62 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 23.38% 22.07% 16.70% 11.91% 10.43% 5.36% PAT Growth 27.01% 118.06% 140.27% 30.40% 291.60% EPS 22.51 17.73 8.13 3.38 2.59 0.66

Results Balance Sheet

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Shareholder's Funds 948.87 520.11 191.32 159.24 77.51 0.35 0.30 0.11 0.05 0.02 Share Capital 110.77 102.59 83.36 82.31 68.61 0.35 0.35 0.35 0.35 0.35 Total Reserves 748.32 394.57 107.96 75.87 6.60 0.00 -0.05 -0.24 -0.30 -0.33 Non-Current Liabilities 15.56 22.00 10.42 8.71 12.00 -0.12 -0.14 0.05 0.05 0.05 Secured Loans 16.06 24.84 11.69 7.43 10.35 0.00 0.00 0.00 0.00 0.00 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.05 0.05 Long Term Provisions 1.19 0.93 0.82 0.75 0.65 0.00 0.00 0.00 0.00 0.00 Current Liabilities 174.51 129.30 147.48 116.95 81.25 0.07 0.05 0.05 0.02 0.01 Trade Payables 112.06 79.06 57.36 45.08 47.56 0.00 0.00 0.00 0.00 0.00 Other Current Liabilities 19.17 17.93 45.03 25.36 26.55 0.07 0.03 0.03 0.02 0.00 Short Term Borrowings 11.20 15.53 33.43 37.75 7.00 0.00 0.00 0.00 0.00 0.00 Short Term Provisions 32.07 16.78 11.65 8.77 0.15 0.00 0.03 0.02 0.00 0.01 Total Liabilities 1,138.94 671.41 349.22 284.90 170.76 0.30 0.21 0.21 0.12 0.08 Net Block 178.17 51.54 42.93 42.36 42.41 0.00 0.00 0.03 0.03 0.03 Gross Block 184.08 55.06 44.97 43.61 43.56 0.00 0.00 0.06 0.06 0.06 Accumulated Depreciation 5.91 3.52 2.04 1.25 1.14 0.00 0.00 0.03 0.03 0.02 Non Current Assets 647.82 237.74 64.74 50.14 42.59 0.11 0.00 0.03 0.03 0.03 Capital Work in Progress 417.11 130.27 6.67 6.67 0.00 0.00 0.00 0.00 0.00 0.00 Non Current Investment 0.30 0.30 0.32 0.32 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Loans & Adv. 52.25 55.62 14.81 0.79 0.18 0.11 0.00 0.00 0.00 0.00 Other Non Current Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Current Assets 491.11 433.67 284.47 234.75 128.17 0.18 0.21 0.19 0.09 0.04 Current Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Inventories 73.22 80.82 33.71 40.80 19.94 0.00 0.00 0.00 0.00 0.00 Sundry Debtors 267.25 190.58 195.91 130.23 60.73 0.04 0.00 0.15 0.04 0.00 Cash & Bank 95.77 90.40 7.60 7.07 3.06 0.13 0.17 0.01 0.03 0.04 Other Current Assets 54.86 2.65 13.04 7.96 44.45 0.02 0.04 0.03 0.02 0.01 Short Term Loans & Adv. 51.11 69.21 34.21 48.70 36.95 0.01 0.04 0.03 0.02 0.01 Net Current Assets 316.60 304.36 137.00 117.80 46.92 0.12 0.16 0.14 0.07 0.04 Total Assets 1,138.93 671.41 349.21 284.89 170.76 0.29 0.21 0.22 0.12 0.07

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21
Shareholder's Funds 1,053.22 552.96 197.63 158.63 77.51 Share Capital 110.77 102.59 83.36 82.31 68.61 Total Reserves 852.67 427.42 114.27 75.26 6.60 Non-Current Liabilities 15.56 22.00 10.42 8.71 12.00 Secured Loans 16.06 24.84 11.69 7.43 10.35 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 Long Term Provisions 1.19 0.93 0.82 0.75 0.65 Current Liabilities 181.73 133.73 160.60 117.10 81.25 Trade Payables 118.01 80.58 65.50 45.22 47.56 Other Current Liabilities 20.44 20.84 50.01 25.37 26.55 Short Term Borrowings 11.20 15.53 33.43 37.75 7.00 Short Term Provisions 32.07 16.78 11.65 8.77 0.15 Total Liabilities 1,250.51 708.69 368.65 284.44 170.76 Net Block 182.99 56.75 48.30 42.36 42.41 Gross Block 190.16 60.98 50.47 43.61 43.56 Accumulated Depreciation 7.16 4.22 2.17 1.25 1.14 Non Current Assets 682.82 215.69 69.78 49.82 42.59 Capital Work in Progress 417.11 130.27 6.67 6.67 0.00 Non Current Investment 0.00 0.00 0.00 0.00 0.00 Long Term Loans & Adv. 82.72 28.66 14.81 0.79 0.18 Other Non Current Assets 0.00 0.00 0.00 0.00 0.00 Current Assets 567.68 493.00 298.86 234.62 128.17 Current Investments 0.00 0.00 0.00 0.00 0.00 Inventories 98.09 89.47 34.82 42.33 19.94 Sundry Debtors 327.27 218.50 210.52 128.96 60.73 Cash & Bank 96.21 90.87 7.90 7.12 3.06 Other Current Assets 46.11 3.20 13.27 8.88 44.45 Short Term Loans & Adv. 42.36 90.96 32.35 47.33 36.95 Net Current Assets 385.95 359.27 138.26 117.52 46.92 Total Assets 1,250.50 708.69 368.64 284.44 170.76

Cash Flow

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Cash From Operating Activity 148.11 8.37 20.37 -57.47 17.33 0.04 0.21 -0.02 -0.01 0.00 PBT 184.32 87.32 43.65 39.68 9.74 0.07 0.05 0.09 0.03 -0.02 Adjustment -44.72 -0.80 9.25 -2.43 7.68 -0.01 0.02 0.00 0.00 0.00 Changes in Working Capital 43.64 -61.30 -32.77 -96.80 2.03 -0.01 0.15 -0.10 -0.05 0.02 Cash after chg. in Working capital 183.23 25.22 20.12 -59.55 19.45 0.05 0.21 -0.01 -0.01 0.00 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -35.12 -16.85 0.25 2.09 -2.12 -0.01 -0.01 -0.02 0.00 0.00 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -416.45 -174.41 -15.76 -7.67 -3.23 0.00 0.01 0.00 0.00 0.00 Net Fixed Assets -415.86 -133.69 -1.36 -6.72 -43.56 0.00 0.06 0.00 0.00 0.00 Net Investments 0.00 0.02 0.00 -0.32 0.00 0.00 0.00 0.00 0.00 0.00 Others -0.59 -40.74 -14.40 -0.63 40.33 0.00 -0.05 0.00 0.00 0.00 Cash from Financing Activity 273.51 248.67 -5.63 68.64 -11.85 -0.09 -0.05 0.00 0.00 0.02 Net Cash Inflow / Outflow 5.17 82.62 -1.02 3.50 2.24 -0.05 0.17 -0.02 -0.01 0.02 Opening Cash & Equivalents 87.47 4.84 5.87 2.37 0.13 0.17 0.01 0.03 0.04 0.01 Closing Cash & Equivalent 92.64 87.47 4.84 5.87 2.37 0.13 0.17 0.01 0.03 0.04

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21
Cash From Operating Activity 148.24 -31.73 26.16 -57.74 17.33 PBT 253.94 113.84 50.57 39.09 9.74 Adjustment -38.41 -7.44 10.37 -2.44 7.68 Changes in Working Capital -32.17 -121.28 -35.03 -96.47 2.03 Cash after chg. in Working capital 183.36 -14.88 25.91 -59.82 19.45 Interest Paid 0.00 0.00 0.00 0.00 0.00 Tax Paid -35.12 -16.85 0.25 2.09 -2.12 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -416.63 -134.11 -21.25 -7.67 -3.23 Net Fixed Assets -415.86 -133.69 -1.36 -6.72 Net Investments 0.00 0.02 0.00 -0.32 Others -0.77 -0.44 -19.89 -0.63 Cash from Financing Activity 273.52 248.64 -5.68 68.96 -11.85 Net Cash Inflow / Outflow 5.14 82.79 -0.77 3.55 2.24 Opening Cash & Equivalents 87.94 5.15 5.92 2.37 0.13 Closing Cash & Equivalent 93.08 87.94 5.15 5.92 2.37

Financial Ratios

Standalone /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Book Value (Rs.) 77.56 48.46 22.95 19.22 10.96 9.93 8.70 3.28 1.45 0.45 ROA 14.83% 13.16% 10.09% 13.36% 8.91% 16.15% 88.43% 40.03% 34.49% -23.91% ROE 19.79% 19.51% 18.31% 26.08% 20.17% 12.45% 90.54% 82.24% 104.70% -70.86% ROCE 25.14% 24.87% 24.14% 29.24% 32.13% 21.47% 22.16% 65.28% 37.95% -26.42% Fixed Asset Turnover 5.01 7.76 6.08 6.54 3.35 0.00 0.00 3.44 2.07 0.78 Receivable days 139.61 181.75 221.22 122.25 75.90 72.25 0.00 176.21 135.35 0.00 Inventory Days 46.97 53.86 50.54 38.88 49.80 0.00 0.00 0.00 0.00 0.00 Payable days 95.27 101.59 102.10 77.02 156.78 0.00 0.00 6.12 5.05 0.50 Cash Conversion Cycle 91.32 134.02 169.66 84.12 -31.07 72.25 0.00 170.09 130.31 -0.50 Total Debt/Equity 0.04 0.10 0.27 0.29 0.32 0.00 0.00 0.44 0.99 3.22 Interest Cover 17.80 7.42 5.17 8.59 2.47 0.00 0.00 401.28 0.00 0.00

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21
Book Value (Rs.) 86.98 51.66 23.71 19.14 10.96 ROA 20.81% 17.36% 11.92% 13.11% 4.46% ROE 27.30% 25.70% 21.91% 25.64% 10.13% ROCE 31.33% 29.93% 26.91% 28.92% 16.12% Fixed Asset Turnover 7.36 10.05 6.94 6.56 3.35 Receivable days 107.84 139.85 189.67 121.01 151.71 Inventory Days 37.06 40.52 43.10 39.72 49.80 Payable days 60.14 70.85 89.10 76.87 156.78 Cash Conversion Cycle 84.76 109.52 143.68 83.85 44.73 Total Debt/Equity 0.04 0.09 0.26 0.30 0.32 Interest Cover 24.18 9.33 5.80 8.47 2.47

Top Investors:

enforcement directorate raipur

ebisu global opportunities fund limited

ashish kacholia

hitesh natwarlal kawa

bengal finance and investment pvt ltd

sixteenth street asian gems fund

nova global opportunities fund pcc - touchstone

Annual Reports:

News Update:

Balu Forge bags purchase order from Alpha Aircraft Systems
26th May 2026, 16:12 PM

This order marks the company’s official foray into the global aerospace industry
Read More

Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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