Balu Forge Industries Limited

Capital Goods · Industrial Products

NSE: BALUFORGE BSE: 531112

₹496.35

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Industrial Products

The largest companies in the same industry by market cap. This company ranks #50 of 335. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Cummins India Limited	131,947	57.8	27.9%	23.7%	1.39%	84	0	27
Polycab India Limited	120,900	43.0	22.3%	9.2%	0.59%	83	27	61
Welspun Corp Limited	71,672	81.9	17.2%	217.6%	0.18%	71	0	53
APL Apollo Tubes Limited	60,810	105.9	22.7%	26.5%	—	68	0	51
Supreme Industries Limited	43,837	46.5	15.5%	-17.6%	—	76	0	49
KEI Industries Limited	42,590	42.7	13.8%	10.4%	0.10%	70	29	61
Astral Limited	36,816	56.6	13.2%	-0.4%	—	76	12	12
AIA Engineering Limited	36,106	27.9	15.8%	19.1%	0.41%	71	29	61
Balu Forge Industries Limited (this stock)	5,708	36.9	16.2%	-21.9%	0.03%	78	16	31

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹5,750 Cr

EV / EBITDA

24.4x

EV / Sales

8.55x

Market cap / Sales

8.49x

Earnings yield

2.71%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 178 Cr, up 16.9% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 38 Cr, up 11.0% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	175	52	38	₹3.1100
March 31, 2026	159	55	45	₹3.8500
Dec. 31, 2025	171	48	39	₹3.3700
Sept. 30, 2025	167	50	36	₹3.1200
June 30, 2025	150	47	34	₹3.0100
March 31, 2025	157	50	38	₹3.5100
Dec. 31, 2024	161	55	40	₹3.6300
Sept. 30, 2024	157	48	32	₹3.0200
June 30, 2024	123	32	24	₹2.3400
March 31, 2024	113	27	21	₹2.0200
Dec. 31, 2023	104	23	19	₹1.9000
Sept. 30, 2023	102	24	17	₹1.8500
June 30, 2023	70	13	10	₹1.2400

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	178	183	176	170	152	162	170	160	124	117	106	106	70
Operating revenue	175	159	171	167	150	157	161	157	123	113	104	102	70
Other income	3	24	4	3	2	4	9	2	1	4	2	4	0
Operating expenses	118	120	119	114	101	107	112	109	90	86	78	78	54
Operating profit	57	39	52	53	49	51	48	49	33	27	26	24	15
Operating profit margin	32.8%	24.5%	30.3%	31.9%	32.5%	32.1%	30.2%	31.0%	26.7%	23.6%	24.8%	23.6%	22.1%
Depreciation	3	3	3	2	2	1	1	1	1	0	0	0	0
Interest	5	5	5	4	2	4	2	3	2	4	4	4	2
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit before tax	52	55	48	50	47	50	55	48	32	27	23	24	13
Tax	15	10	10	15	13	11	15	16	8	6	5	7	2
Net profit	38	45	39	36	34	—	40	32	24	21	19	17	10
EPS	3.11	3.85	3.37	3.12	3.01	3.51	3.63	3.02	2.34	2.02	1.90	1.85	1.24
Net profit (TTM)	157	153	—	—	—	—	116	95	81	67	58	48	35
EPS (TTM)	13.45	13.35	13.01	13.27	13.17	12.50	11.01	9.28	8.11	7.01	6.38	5.48	4.16

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	647	200	153
March 31, 2025	598	184	134
March 31, 2024	388	87	67

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	34.2%	49.4%	681^†	616^†	399^†	282^†	294^†	91^†	—	—	—	—
Operating revenue	34.0%	49.7%	647	598	388	269^†	285^†	86^†	—	—	—	—
Other income	—	—	33^†	17^†	11^†	13^†	9^†	5^†	—	—	—	—
Operating expenses	—	—	455^†	418^†	296^†	227^†	247^†	—	—	—	—	—
Operating profit	65.8%	—	193^†	181^†	92^†	42^†	38^†	—	—	—	—	—
Operating profit margin	—	—	29.8%^†	30.2%^†	23.7%^†	15.7%^†	13.2%^†	—	—	—	—	—
Depreciation	—	—	9^†	3^†	1^†	1^†	1^†	—	—	—	0^†	0^†
Interest	—	—	16^†	11^†	14^†	10^†	5^†	—	—	—	—	—
Exceptional items, gain / (loss)	—	—	0^†	0^†	0^†	0^†	-0^†	0^†	0^†	0^†	0^†	0^†
Profit before tax	66.2%	96.8%	200	184	87	44^†	40^†	7^†	0^†	0^†	0^†	—
Tax	—	—	47^†	50^†	20^†	12^†	9^†	—	—	—	—	—
Net profit	68.6%	95.1%	153	134	67	32^†	30^†	5^†	0^†	0^†	0^†	—
EPS	51.4%	—	13.35^†	12.50^†	7.01^†	3.85^†	4.10^†	-16.40^†	1.16^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	29.8%^†	30.2%^†	23.7%^†	15.7%^†	13.2%^†	—	—	—	—	—
EBIT margin	33.5%^†	32.6%^†	26.0%^†	20.1%^†	15.8%^†	—	—	—	—	—
PBT margin	30.9%	30.8%	22.5%	16.2%^†	13.9%^†	7.9%^†	—	—	—	—
Net margin	23.7%	22.4%	17.3%	11.9%^†	10.7%^†	6.3%^†	—	—	—	—
Interest coverage	13.23x^†	17.80x^†	7.42x^†	5.17x^†	8.59x^†	—	—	—	—	—
Dividend payout	1.1%^†	1.2%^†	0.0%^†	0.0%^†	0.0%^†	—	0.0%^†	—	—	—
Earnings retention	98.9%^†	98.8%^†	100.0%^†	100.0%^†	100.0%^†	—	100.0%^†	—	—	—
Current ratio	2.93x	2.81x	—	—	—	—	—	—	—	—
Quick ratio	2.39x	2.39x	—	—	—	—	—	—	—	—
Debt to equity	0.09x	0.04x	—	—	—	—	—	—	—	—
Return on equity	11.2%	14.1%	—	—	—	—	—	—	—	—
Return on assets	9.5%	11.8%	—	—	—	—	—	—	—	—
Return on capital employed	15.5%^†	20.2%^†	—	—	—	—	—	—	—	—
Asset turnover	0.40x	0.52x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	-16	-333	341	203	-219
March 31, 2025	148	-416	274	416	-268
March 31, 2024	8	-174	249	174	-166

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	1,613	1,370	1,248	116	11	618	211	84	509	113
March 31, 2025	1,141	949	838	20	16	491	175	93	146	73
March 31, 2024	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.