1. India Stocks

  2. •

    Producer manufacturing

  3. •

    Trucks/Construction/Farm machinery
Balu Forge Industries Ltd

Balu Forge Industries Ltd

442.55
INR
-7.85
(-1.74%)
23.95EPS
19.21P/E
56.58BMarket Cap
Nov 03Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
- -
- -
1.29
3.43
5.71
5.21
5.82
39.21
37.1
38.78
57.82
84.81
94.35
106.38
Basic EPS, GAAP
0.01
0.21
-0.5
1
1.95
5.42
1.16
2.13
4.01
4.67
9.77
19.07
22.61
24.26
Free Cash Flow per Basic Share
0.03
-0.16
0.12
-0.18
-0.66
5.95
1.27
3.95
-8.8
2.27
-3.32
13.85
2.77
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
0.1
- -
- -
0.15
0.15
- -
Book Value per Share
0.07
0.95
0.45
1.45
3.28
8.7
9.93
11.3
19.27
23.71
53.9
95.08
131.35
- -
Tangible Book Value per Share
0.07
0.95
0.45
1.45
3.28
8.7
9.93
6.55
15.31
19.8
50.72
92.14
128.67
- -
Basic Weighted Avg Shares
4
- -
- -
- -
- -
- -
- -
36
74
83
96
107
115
110
Sales/Revenue/Turnover
- -
- -
- -
1
2
2
2
1,400
2,759
3,229
5,531
9,064
10,804
11,749
Operating Margin (%)
- -
- -
-211.24
-36.64
43.28
36.36
30.6
7.93
13.05
16.43
21.34
27.36
28.58
25.57
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
11
11
13
21
34
100
116
Net Income, GAAP
- -
- -
- -
- -
1
2
- -
76
298
389
935
2,039
2,589
2,680
Effective Tax Rate (%)
22.52
3.22
- -
- -
21.26
- -
42
21.77
23.64
23.04
17.75
19.72
15.41
15.4
Profit Margin (%)
- -
- -
-38.53
29.03
34.1
104.03
19.94
5.44
10.82
12.05
16.9
22.49
23.96
22.81
Working Capital
- -
- -
- -
1
1
2
1
469
1,175
1,383
3,593
3,898
5,698
- -
LT Debt
- -
- -
1
1
1
- -
- -
119
79
117
248
199
310
- -
Total Equity
- -
- -
- -
1
1
3
3
775
1,586
1,976
5,530
10,532
15,945
- -
Return on Invested Capital (%)
-84.61
-130.91
- -
- -
51.25
- -
11.08
37.22
27
23.67
26.44
24.93
17.49
- -
Return on Capital (%)
5.73
11.97
- -
- -
51.27
- -
12.45
23.98
20.59
19.95
23.66
24.73
18.88
- -
Return on Common Equity (%)
16.73
24.52
-70.86
104.7
82.24
90.54
12.45
19.57
25.28
21.85
24.91
25.38
19.56
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
1,209
- -
LT Borrowings
- -
107
- -
LT Finance Leases
- -
202
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
115
121
121
Market Capitalization
69,507
46,888
56,581

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
7,938
- -
Cash, Cash Equivalents & STI
- -
961
- -
Accounts Receivable, Net
- -
4,251
- -
Inventories
- -
1,453
- -
Total Current Liabilities
- -
2,241
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,209
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2,317.56%
90.18%
51.4%
Free Cash Flow
2,889%
-321.17%
-78.58%
Net Income, GAAP
1,916.84%
121.48%
27%
Sales/Revenue/Turnover
6,915.05%
53.71%
19.2%
Total Cash Common Dividend
- -
- -
6.82%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
1,753
2,229
2,558
2,696
9,064
2026
2,332
2,995
3,111
2,636
10,804
2027
3,007
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
3.33
4.55
5.52
5.74
19.07
2026
5.04
6.08
6.41
6.35
22.61
2027
5.49
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
0.15
2026
- -
- -
- -
- -
0.15
2027
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Jaspalsingh P. Chandock
Full Time Employees
533
Sector
Producer manufacturing
Industry
Trucks/Construction/Farm machinery
Address
Imperial Palace Mumbai MA India 400069
IPO Date
May 1, 1994
Website
baluindustries.com
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Business
Balu Forge Industries Limited is an Indian precision engineering company specializing in the manufacture of forged and machined components primarily for the automotive, industrial, railway, defense, and aerospace sectors. Its main product portfolio includes automotive forgings such as crankshafts, connecting rods, steering knuckles, axle beams, and clutch and transmission components; industrial forgings for machinery, construction, and agricultural equipment; railway wheels and axles; undercarriage components including track shoes, rollers, and sprockets; turbine blades; and hydraulic motors with parts like rotors and pistons. The company also offers precision machining services including milling, turning, drilling, and grinding to refine its forged components. Headquartered in Pune, Maharashtra, Balu Forge operates manufacturing facilities including a new precision machining line in Belgaum, Karnataka. Founded in 1989, it serves primarily the Indian market with expanding activities globally through strategic acquisitions and partnerships. In recent years, Balu Forge has made significant operational expansions and strategic moves to strengthen its market position. In 2024, the company acquired the precision machining unit of the Mercedes Benz Truck Factory in Mannheim, Germany, enhancing its capabilities in automotive and commercial vehicle components. It also established a new manufacturing facility in Belgaum focused on defense production units and components for the new energy and mobility industries, including fuel agnostic systems. The company formed strategic alliances, notably partnering with Swan Energy to innovate in railway, defense, and aerospace solutions. Additionally, it has introduced advanced manufacturing technology, including the acquisition of 7-axis machining capability and automated forging lines with GERB technology. Balu Forge has also completed fundraises and preferential allotments to support its growth, reflecting its debt-free status and robust financial health. The company actively pursues diversification through acquisitions such as a 70% stake in Balu Technologies, widening its technology and product portfolio. These developments underscore Balu Forge’s strategic focus on innovation, defense sector commercialization, and expansion into high-growth industrial segments.