M M Forgings Ltd
M M Forgings Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
MM Forgings expects a strong revenue outlook for FY '27 with growth driven by current capex and committed customer orders. Export revenue is expected to grow, particularly from the U.S.
From M M Forgings Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- MM Forgings expects a strong revenue outlook for FY '27 with growth driven by current capex and committed customer orders.
- Anticipated sales growth of INR 300 crores over FY '26, mainly from increased volumes in existing products and new product launches.
- Export revenue is expected to increase by INR 50-75 crores, particularly from the U.S. Class 8 truck market, starting Q4 FY '26 and fully realized in FY '27.
- The new 16,500-ton press will begin commissioning early next year but will add minimal revenue in FY '27; significant revenue from this press (INR 300 crores) is expected over 2-3 years, by FY '28 or FY '29.
- Domestic CV segment growth expected around 10%, with CV constituting about 75% and PV about 10% of sales mix in FY '27.
2 more points management made on revenue & sales performance
Profitability & Margins
See what M M Forgings Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Focus on capex already done and committed to customers; no aggressive pursuit of new opportunities currently.
- Capex for FY '27 planned around INR 125-175 crores (guidance of about INR 150 crores).
- Capex spent in FY '26 approximately INR 135-137 crores; about INR 50 crores still to be spent related to the 16,000-ton press.
- New 16,500-ton press to be commissioned early FY '27; expected future revenue potential of around INR 300 crores (over a few years).
- Capex spending aimed to match debt repayment to maintain or reduce gross debt levels; no additional debt increase planned.
2 more points management made on capital expenditure plans
Top-ranked in Auto Components
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what M M Forgings Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- MM Forgings is currently in inquiry mode for the new 16,500-ton press orders; no firm orders or financial commitments have been finalized yet.
- The company expects to generate around INR300 crores in additional revenue over the next 2-3 years from new orders excluding the 16,000-ton press.
- Around INR75 crores of this revenue increase is expected from exports (especially the U.S. market), with the balance coming from volume growth in domestic markets and new product launches.
2 more points management made on order book & pipeline
M M Forgings Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹430 Cr, net profit ₹45 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What M M Forgings's management said in earlier quarters
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Frequently Asked Questions
What were M M Forgings Ltd Q3 FY26 results?
MM Forgings expects a strong revenue outlook for FY '27 with growth driven by current capex and committed customer orders. Export revenue is expected to grow, particularly from the U.S.
What is M M Forgings Ltd share price analysis?
M M Forgings Ltd currently shows a neutral. The stock trades at a P/E of 25.3 with a market cap of ₹2,847 Cr. Investors should review the full earnings analysis for detailed insights.
Is M M Forgings Ltd planning capital expenditure?
Focus on capex already done and committed to customers; no aggressive pursuit of new opportunities currently.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.