| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 301 | 233 | +29.0% |
| EBITDA | 84.8 | 72.3 | +17.3% |
| EBITDA margin | 28.2% | 31.0% | −2.8 pts |
| Profit before tax | 80.7 | 70.0 | +15.3% |
| Net profit | 66.1 | 57.0 | +15.9% |
| EPS | ₹5.49 | ₹5.04 | +8.9% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 |
|---|
| 5,497 | — | — | — | — | |
| 85.7 | 85.7 | 93.1 | 87.9 | — | |
| 127 | 127 | 35.9 | 48.8 | 51.3 | |
| 5,538 | — | — | — | — | |
| 1,175 | 1,107 | 924 | 560 | — | |
| — | +19.9% | +65.0% | — | — | |
| 312 | 300 | 251 | 119 | — | |
| 26.6% | 27.1% | 27.2% | 21.3% | — | |
| 300 | 290 | 248 | 117 | — | |
| 268 | 259 | 204 | 93.7 | — | |
| 22.8% | 23.4% | 22.1% | 16.7% | — | |
| ₹22.07 | ₹21.33 | ₹16.79 | ₹7.72 | — | |
| — | +27.0% | +117.6% | — | — | |
| — | 31.7 | 148 | −18.0 | 12.2 | |
| — | −207 | −416 | −148 | — | |
| −175 | −175 | −268 | −166 | 12.2 | |
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 5,497.2 | |
| - Cash, Equiv & ST Investments | — | 87.9 | 93.1 | 85.7 | 85.7 | |
| + Total Debt | 51.3 | 48.8 | 35.9 | 126.7 | 126.7 | |
| Enterprise Value | — | — | — | — | 5,538.3 | |
| Revenue | — | 559.9 | 923.6 | 1,107.4 | 1,174.9 | |
| Growth %, YoY | — | — | +65.0 | +19.9 | — | |
| EBITDA | — | 119.1 | 251.1 | 299.5 | 312.0 | |
| Margin % | — | 21.28 | 27.19 | 27.05 | 26.56 | |
| EBIT | — | 117.1 | 247.8 | 289.6 | 300.5 | |
| Net Income | — | 93.7 | 203.9 | 258.9 | 268.0 | |
| Margin % | — | 16.73 | 22.07 | 23.38 | 22.81 | |
| EPS, Adj (current shares) | — | 7.72 | 16.79 | 21.33 | 22.07 | |
| Growth %, YoY | — | — | +117.6 | +27.0 | — | |
| Cash from Operations | 12.2 | -18.0 | 148.2 | 31.7 | — | |
| Capital Expenditures | — | -147.9 | -416.4 | -207.0 | — | |
| Free Cash Flow | 12.2 | -165.8 | -268.2 | -175.3 | -175.3 | |
Prices at the 30 October 2026 close · figures from the company's filings with NSE
Balu Forge Industries (NSE: BALUFORGE) had a market capitalisation of ₹5,371 crore at the 30 October 2026 close (₹442.45 a share), a PE ratio of 20.0 on the last four quarters' profit and a price-to-book ratio of 3.37. In FY26 its consolidated net profit was ₹259 crore on revenue of ₹1,107 crore; in Q1 FY27 (April–June 2026) it was ₹66.1 crore, up 15.9% year on year. Its debt-to-equity ratio was 0.08 on 31 March 2026. Promoters held 53.99% of the shares on 30 September 2026.
Balu Forge Industries' PE ratio is 20.0 at the 30 October 2026 close (₹442.45 a share): a market capitalisation of ₹5,371 crore divided by consolidated net profit of ₹268 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹259 crore) it is 20.7.
Balu Forge Industries' net worth — shareholders' equity in its consolidated balance sheet — was ₹1,595 crore on 31 March 2026, up 51.4% from ₹1,053 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹5,371 crore at the 30 October 2026 close.
Balu Forge Industries' book value per share was ₹131.35 on 31 March 2026: shareholders' equity of ₹1,595 crore divided by the 12.14 crore shares in issue, up 38.1% from ₹95.08 a year earlier. The share price at the 30 October 2026 close was ₹442.45.
Balu Forge Industries' price-to-book (PB) ratio is 3.37 at the 30 October 2026 close: a market capitalisation of ₹5,371 crore divided by shareholders' equity (book value) of ₹1,595 crore on 31 March 2026. That is a book value of ₹131.35 per share against a share price of ₹442.45.
In FY26, Balu Forge Industries' return on equity (ROE) was 19.6% and its return on capital employed (ROCE) was 21.4%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 25.4% and ROCE 30.0%.
Balu Forge Industries' dividend yield is 0.03% at the 30 October 2026 close: dividends of ₹0.15 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹442.45. They were ₹0.15 on 18 September 2026.
Balu Forge Industries' market capitalisation was ₹5,371 crore at the 30 October 2026 close: 12.14 crore shares at ₹442.45 each.
No. Balu Forge Industries had borrowings of ₹127 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.08. Its cash and current investments were ₹89 crore, so its net debt was ₹37.7 crore.
In 2026, Balu Forge Industries has declared one dividend: ₹0.15 with record date 18 September 2026.
Balu Forge Industries' debt-to-equity ratio was 0.08 on 31 March 2026: borrowings of ₹127 crore against total equity of ₹1,595 crore. A year earlier, on 31 March 2025, it was 0.03.
In FY26 (April 2025–March 2026), Balu Forge Industries' consolidated net profit was ₹259 crore, up 27.0% from ₹204 crore in FY25, on revenue from operations of ₹1,107 crore (up 19.9%).
Balu Forge Industries has not yet announced the date of its Q2 FY27 results (July–September 2026); under SEBI's listing rules (Regulation 33) they are due by 14 November 2026.
Balu Forge Industries' basic earnings per share (EPS) were ₹23.90 in FY26, against ₹19.24 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹24.33.
Promoters held 53.99% of Balu Forge Industries on 30 September 2026, up 0.48 percentage points from 53.51% the previous quarter and down 0.86 percentage points from 54.85% a year earlier, according to the shareholding pattern filed with NSE.
In FY26, Balu Forge Industries generated ₹31.7 crore of cash from operations and spent ₹207 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹175 crore. In FY25 it was −₹268 crore.
On 30 September 2026, Balu Forge Industries' shares were held by promoters 53.99%, foreign portfolio investors (FII/FPI) 5.13%, domestic institutions (DII) 0.92% (including mutual funds at 0.11%) and retail and other non-institutional investors 36.15%. Over the year, FII holding was down 3.20 percentage points from 8.33% and DII holding was up 0.08 percentage points from 0.84%.
On FY26 consolidated figures, against Bharat Forge, Azad Engineering and AXISCADES Technologies: Balu Forge Industries' operating margin of 26.2% is the second highest of the four (Bharat Forge 11.6%, Azad Engineering 28.6%, AXISCADES Technologies 11.5%; peer average 17.2%); its return on equity of 19.6% is the highest of the four (Bharat Forge 11.5%, Azad Engineering 9.1%, AXISCADES Technologies 10.5%; peer average 10.3%).
At the 30 October 2026 closing prices, on FY26 net profit, Balu Forge Industries' PE ratio is 20.7, the lowest of the four: Bharat Forge 76.2, Azad Engineering 118.8 and AXISCADES Technologies 111.0, a peer average of 102.0. Each is the company's market capitalisation at that price divided by its FY26 net profit.
Balu Forge Industries' latest results are for Q1 FY27 (April–June 2026), filed on 12 August 2026: consolidated net profit ₹66.1 crore, up 15.9% from ₹57 crore in Q1 FY26; revenue from operations ₹301 crore, up 29.0% year on year.
In FY26, Balu Forge Industries earned net profit of ₹259 crore on revenue of ₹1,107 crore, against ₹1,080 crore on ₹16,812 crore for Bharat Forge. Balu Forge Industries' operating margin was 26.2% (Bharat Forge 11.6%) and its return on equity 19.6% (Bharat Forge 11.5%). At the 30 October 2026 close, Balu Forge Industries' market capitalisation was ₹5,371 crore against ₹82,239 crore for Bharat Forge, and its PE ratio on FY26 profit 20.7 against 76.2.
From Balu Forge Industries' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.