Balu Forge Industries Limited

NSE: BALUFORGE · Castings & Forgings

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52W Range₹341 – ₹667

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.

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Key Metrics

REVENUE

₹1,175 Cr

TTM · consolidated

+19.7%YoY

NET PROFIT

₹268 Cr

TTM · consolidated

+18.1%YoY

EPS

₹24.33

TTM · consolidated

+16.7%YoY

RETURN ON EQUITY

20.2%

TTM · consolidated

-1.3 ppYoY

RETURN ON CAPITAL EMPLOYED

24.8%

TTM · consolidated

-2.6 ppYoY

P/E

20.1×

Q1 FY27 · consolidated

20.1 vs 78.5x5Y avg

EV/EBITDA

17.6x

Q1 FY27 · consolidated

17.6 vs 67.3x5Y avg

EBITDA MARGIN

29.5%

TTM · consolidated

-0.9 ppYoY

NET PROFIT MARGIN

22.0%

Q1 FY27 · consolidated

-2.5 ppYoY

DEBT TO EQUITY

0.1x

Q1 FY27 · consolidated

+0.05xYoY

Peers · Castings & Forgings

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Balu Forge Industries LimitedBALUFORGE
₹6,059 Cr20.1×17.5719.7%29.5%20.2%24.8%-23.1%
SteelcastSTEELCAS
₹3,640 Cr39.8×26.988.9%30.6%25.2%32.7%+66.4%
Amic ForgingAMIC
₹2,641 Cr———30.0%——+72.8%
Investment & Precision Castings LimitedINVPRECQ
₹1,423 Cr109.4×40.6216.6%18.6%15.0%23.3%+278.8%
Synergy Green Industries LimitedSGIL
₹1,039 Cr-107.9×31.09-2.5%11.6%-8.1%6.9%+13.9%
Tirupati ForgeTIRUPATIFL
₹1,012 Cr153.4×52.71—11.7%5.1%8.1%+110.2%

As of Q1 FY27

Financials