Arthneeti

Balu Forge Industries Q4 FY26 Share Price & Earnings Call Analysis

₹486.70+3.63% today
Market cap
₹5,908 Cr
P/E
22.04
ROE
19.56%
PEG
0.25
Price to sales
5.03
Debt to equity
0.10
52W high / low
₹653 / ₹356
Sales growth (5Y)
50.78%
EBITDA margin
26.56%
Net profit margin
23.38%
Promoter holding
53.99%
Sales (last year)
₹1,175 Cr

Balu Forge Industries Ltd is engaged in the manufacturing of fully finished and semi-finished forged crankshafts and Forged Components. It has the capability to manufacture components conforming to the New Emission Regulations & the New Energy Vehicles [1]

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Balu Forge rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹448 Cr17.9
240%+Up 2%+₹413 Cr12.0
340%+Up 2%+₹324 Cr22.7
440%+Up 0–2%₹1,496 Cr32.8
540%+Up 0–2%₹1,079 Cr12.7
640%+Flat₹827 Cr21.4

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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of Balu Forge

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Balu Forge

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +89124112139147161175223256270233300311
Expenses +7210390109114127132158188195161217227
Operating Profit18212230333443656875728385
OPM %20%17%19%22%22%21%25%29%26%28%31%28%27%
Other Income +31042412104234
Interest3424442324245
Depreciation0000111111223
Profit before tax17171930303542647474708081
Tax %33%12%13%22%16%18%18%25%20%15%19%19%12%
Net Profit +11151723252834485963576571
EPS in Rs1.371.832.002.322.462.763.334.395.395.735.005.716.18

Financials of Balu Forge

Profit & Loss

Annual income statement trend

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +1422863275609241,113
Expenses +130249277441673799
Operating Profit123750119251315
OPM %9%13%15%21%27%28%
Other Income +5813101714
Interest7511141116
Depreciation111238
Profit before tax103951114254305
Tax %22%24%23%18%20%
Net Profit +8303993204256
EPS in Rs1.113.634.679.1118.6322.62
Dividend Payout %0%3%0%2%1%

Financials of Balu Forge

Balance Sheet

Capital structure and asset base

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital698283103111114
Reserves9761144509421,135
Borrowings +264752494082
Other Liabilities +6878121111159194
Total Liabilities1712843717121,2521,524
Fixed Assets +42424857183436
CWIP077130417351
Investments000000
Other Assets +129235316525652737
Total Assets1712843717121,2521,524

Financials of Balu Forge

Cash Flows

Operating, investing and financing cash movement

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +17-5826-32148
Cash from Investing Activity +-3-8-21-134-417
Cash from Financing Activity +-1269-6249274
Net Cash Flow24-1835
Free Cash Flow14-655-166-268
CFO/OP159%-161%52%-12%73%

Financials of Balu Forge

Ratios

Working capital efficiency and return ratios

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days156165235142129
Inventory Days6670568759
Days Payable157751057871
Cash Conversion Cycle65160186151117
Working Capital Days113141146175114
ROCE %29%27%30%31%
18out of 100

Momentum score · price trend

18 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−27.3%26%
Last 6 months−16.3%26%
Last 3 months+5.6%77%

The price is 44.3% below its all-time high of ₹842.55 (18 Oct 2024). Stocks more than 20% below their peak have their score halved, so 36 became 18.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Balu Forge: 0.4 × 26 + 0.4 × 26 + 0.2 × 77 = 36, halved to 18 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Balu Forge's management said in earlier quarters

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