Balu Forge Industries Limited

NSE: BALUFORGE · Castings & Forgings

52W Range₹341 ₹697

Snapshot

Unlock Balu Forge Industries Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Balu Forge Industries Limited is a manufacturer of precision forged components, specialising in crankshafts and a wide array of industrial parts. The company serves a diverse range of sectors including automotive, defence, aerospace, oil and gas, and e-mobility.

Business Model

The company operates as an original equipment manufacturer (OEM) supplier, generating revenue through the production and sale of high-specification forged components for heavy-duty and industrial applications.

Growth Outlook

Growth is driven by the expansion into new-generation vehicle components and e-mobility solutions, alongside sustained demand from global industrial and defence sectors.

Key Risks

  • Cyclicality of End-User Industries. The company's performance is highly sensitive to demand fluctuations in the automotive, agriculture, and heavy machinery sectors.
  • Raw Material Price Volatility. Fluctuations in the cost of steel and other raw materials can significantly impact manufacturing margins.
  • Geopolitical and Export Risks. As an international supplier, the company is exposed to trade barriers, currency fluctuations, and geopolitical instability in its export markets.
  • Technological Obsolescence. The rapid shift towards e-mobility requires continuous investment in new manufacturing capabilities to remain relevant to evolving automotive standards.

Price

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Key Metrics

REVENUE

₹1,107 Cr

TTM · consolidated

+19.9%YoY

NET PROFIT

₹259 Cr

TTM · consolidated

+26.9%YoY

EPS

₹23.88

TTM · consolidated

+24.8%YoY

RETURN ON EQUITY

21.8%

TTM · consolidated

-8.3 ppYoY

RETURN ON CAPITAL EMPLOYED

26.6%

TTM · consolidated

-11.1 ppYoY

P/E

18.7x

Q4 FY26 · consolidated

18.7 vs 71.6x5Y avg

EV/EBITDA

15.6x

Q4 FY26 · consolidated

15.6 vs 66.6x5Y avg

EBITDA MARGIN

30.0%

TTM · consolidated

+0.9 ppYoY

NET PROFIT MARGIN

24.9%

Q4 FY26 · consolidated

+1.7 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

+0.05xYoY

Peers · Castings & Forgings

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Balu Forge Industries LimitedBALUFORGE
5,18218.7415.6019.9%30.0%21.8%26.6%-34.8%
SteelcastSTEELCAS
2,20618.4523.6512.5%30.6%25.3%32.9%-74.9%
NelcastNELCAST
1,03823.8010.676.1%9.4%8.6%14.4%-7.5%
Synergy GreenSGIL
767199.9023.901.1%13.5%4.3%14.7%+10.4%
Inv.& Prec.Cast.INVPRECQ
52569.6327.5615.1%17.0%12.5%20.7%+51.4%
Magna ElectrocasMAGNAELQ
39928.1315.1811.3%17.8%13.9%17.9%-6.7%

As of Q4 FY26

Financials