| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 410 | 362 | +13.3% |
| EBITDA | 64.4 | 63.3 | +1.7% |
| EBITDA margin | 15.7% | 17.5% | −1.8 pts |
| Profit before tax | 91.3 | 27.7 | +229.8% |
| Net profit | 90.4 | 19.2 | +371.3% |
| EPS | ₹18.73 | ₹3.97 | +371.8% |
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 | FY22 and earlierAlpha Plus |
|---|
| 2,385 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 225 | 225 | 217 | 209 | 218 | ||
| 0.4 | 0.4 | — | 0.4 | 0.4 | ||
| 1,074 | 1,074 | 1,051 | 804 | 654 | ||
| 3,235 | — | — | — | — | ||
| 1,638 | 1,590 | 1,525 | 1,563 | 1,462 | ||
| — | +4.2% | −2.4% | +6.9% | — | ||
| 281 | 280 | 296 | 293 | 273 | ||
| 17.2% | 17.6% | 19.4% | 18.7% | 18.7% | ||
| 173 | 177 | 203 | 210 | 194 | ||
| 169 | 98.7 | 122 | 135 | 128 | ||
| 10.3% | 6.2% | 8.0% | 8.6% | 8.8% | ||
| ₹35.07 | ₹20.44 | ₹25.24 | ₹27.92 | ₹26.50 | ||
| — | −19.0% | −9.6% | +5.4% | — | ||
| — | 230 | 183 | 131 | 167 | ||
| 230 | 230 | 183 | 131 | 167 | ||
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 | — | — | — | — | 2,385.4 | |
| - Cash, Equiv & ST Investments | 218.2 | 209.3 | 217.2 | 224.6 | 224.6 | |
| + Minority Interest | 0.4 | 0.4 | — | 0.4 | 0.4 | |
| + Total Debt | 654.5 | 803.7 | 1,051.4 | 1,073.8 | 1,073.8 | |
| Enterprise Value | — | — | — | — | 3,234.9 | |
| Revenue | 1,461.9 | 1,563.1 | 1,525.2 | 1,589.9 | 1,638.1 | |
| Growth %, YoY | — | +6.9 | -2.4 | +4.2 | — | |
| EBITDA | 272.9 | 292.8 | 296.1 | 280.0 | 281.0 | |
| Margin % | 18.66 | 18.73 | 19.41 | 17.61 | 17.16 | |
| EBIT | 194.0 | 210.0 | 202.8 | 176.9 | 173.1 | |
| Net Income | 128.0 | 134.8 | 121.9 | 98.7 | 169.3 | |
| Margin % | 8.75 | 8.62 | 7.99 | 6.21 | 10.34 | |
| EPS, Adj (current shares) | 26.50 | 27.92 | 25.24 | 20.44 | 35.07 | |
| Growth %, YoY | — | +5.4 | -9.6 | -19.0 | — | |
| Cash from Operations | 166.8 | 131.2 | 183.4 | 229.7 | — | |
| Free Cash Flow | 166.8 | 131.2 | 183.4 | 229.7 | 229.7 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
MM Forgings (NSE: MMFL) had a market capitalisation of ₹2,332 crore at the 29 October 2026 close (₹482.90 a share), a PE ratio of 13.8 on the last four quarters' profit and a price-to-book ratio of 2.38. In FY26 its consolidated net profit was ₹98.7 crore on revenue of ₹1,590 crore; in Q1 FY27 (April–June 2026) it was ₹90.4 crore, up 371.3% year on year. Its debt-to-equity ratio was 1.10 on 31 March 2026. Promoters held 56.34% of the shares on 30 September 2026.
MM Forgings' PE ratio is 13.8 at the 29 October 2026 close (₹482.90 a share): a market capitalisation of ₹2,332 crore divided by consolidated net profit of ₹169 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹98.7 crore) it is 23.6. These four quarters include net exceptional items of ₹56.2 crore (one-off gains reported separately), so the ratio on recurring profit would differ.
MM Forgings' price-to-book (PB) ratio is 2.38 at the 29 October 2026 close: a market capitalisation of ₹2,332 crore divided by shareholders' equity (book value) of ₹978 crore on 31 March 2026. That is a book value of ₹202.51 per share against a share price of ₹482.90.
In FY26, MM Forgings' return on equity (ROE) was 10.6% and its return on capital employed (ROCE) was 11.1%. 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 14.5% and ROCE 14.5%.
MM Forgings' market capitalisation was ₹2,332 crore at the 29 October 2026 close: 4.83 crore shares at ₹482.90 each.
MM Forgings' basic earnings per share (EPS) were ₹20.44 in FY26, against ₹25.24 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹35.07.
In 2026, MM Forgings has declared one dividend: ₹4 (interim) with record date 12 June 2026.
No. MM Forgings had borrowings of ₹1,074 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 1.10. Its cash and current investments were ₹225 crore, so its net debt was ₹848 crore.
MM Forgings' debt-to-equity ratio was 1.10 on 31 March 2026: borrowings of ₹1,074 crore against total equity of ₹978 crore. A year earlier, on 31 March 2025, it was 1.18.
Promoters held 56.34% of MM Forgings on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
MM Forgings' net worth — shareholders' equity in its consolidated balance sheet — was ₹978 crore on 31 March 2026, up 9.6% from ₹892 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹2,332 crore at the 29 October 2026 close.
MM Forgings' book value per share was ₹202.51 on 31 March 2026: shareholders' equity of ₹978 crore divided by the 4.83 crore shares in issue, up 9.6% from ₹184.84 a year earlier. The share price at the 29 October 2026 close was ₹482.90.
MM Forgings' dividend yield is 0.83% at the 29 October 2026 close: dividends of ₹4 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹482.90. They were ₹4 on 12 June 2026 (interim).
On 30 September 2026, MM Forgings' shares were held by promoters 56.34%, foreign portfolio investors (FII/FPI) 3.11%, domestic institutions (DII) 7.41% (including mutual funds at 7.05%) and retail and other non-institutional investors 33.15%. Over the year, FII holding was up 1.35 percentage points from 1.76% and DII holding was down 0.90 percentage points from 8.31%.
MM Forgings' latest results are for Q1 FY27 (April–June 2026), filed on 14 August 2026: consolidated net profit ₹90.4 crore, up 371.3% from ₹19.2 crore in Q1 FY26; revenue from operations ₹410 crore, up 13.3% year on year.
At the 29 October 2026 closing prices, on FY26 net profit, MM Forgings' PE ratio is 23.6, the highest of the four: Carraro India 20.8, Federal-Mogul Goetze Limited. 14.0 and Sundaram Clayton 8.9, a peer average of 14.6. Each is the company's market capitalisation at that price divided by its FY26 net profit.
In FY26, MM Forgings generated ₹230 crore of cash from operations and spent ₹0 lakh on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹230 crore. In FY25 it was ₹183 crore.
In FY26 (April 2025–March 2026), MM Forgings' consolidated net profit was ₹98.7 crore, down 19.0% from ₹122 crore in FY25, on revenue from operations of ₹1,590 crore (up 4.2%). Over three years, from FY23, net profit was down 22.9%.
MM Forgings will announce its Q2 FY27 results (July–September 2026) on Thursday, 5 November 2026, the date of the board meeting it has notified to the exchanges.
On FY26 consolidated figures, against Carraro India, Federal-Mogul Goetze Limited. and Sundaram Clayton: MM Forgings' operating margin of 11.1% is the highest of the four (Carraro India 7.7%, Federal-Mogul Goetze Limited. 11.0%, Sundaram Clayton −4.9%; peer average 4.6%); its return on equity of 10.6% is the lowest of the four (Carraro India 25.5%, Federal-Mogul Goetze Limited. 12.6%, Sundaram Clayton 22.3%; peer average 20.1%).
In FY26, MM Forgings earned net profit of ₹98.7 crore on revenue of ₹1,590 crore, against ₹131 crore on ₹2,255 crore for Carraro India. MM Forgings' operating margin was 11.1% (Carraro India 7.7%) and its return on equity 10.6% (Carraro India 25.5%). At the 29 October 2026 close, MM Forgings' market capitalisation was ₹2,332 crore against ₹2,721 crore for Carraro India, and its PE ratio on FY26 profit 23.6 against 20.8.
From MM Forgings' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 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.