About
Balu Forge Industries Limited manufactures and sells crankshafts in India and internationally. The company also offers railway wheels, under carriages, transmission and clutches, chassis, hydraulic motors, brake parts, lifting hooks, towing accessories, turbine blades, empty shells, and forged components as well as oil and gas, and flow control products. It supplies crankshafts to original equipment manufacturers. The company serves the agriculture tractor and harvester; defense; oil and gas pump compressor; heavy duty truck, bus, and trailer automotive; generator industrial, standby home backup, and portable; refrigeration compressor industrial; railway; aerospace; marine; locomotive; off road and on road motorcycle, cart, and jet ski; racing; earth-moving equipment; and e-mobility industries. Balu Forge Industries Limited is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap6,969 Cr
P/E26.00
Div Yield0.03 %
Book Value₹131.00
52w High₹697.00
52w Low₹341.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 301.00 | 264.00 | 311.00 | 300.00 | 233.00 | 270.00 | 256.00 | 223.00 | 175.00 | 161.00 | 147.00 | 139.00 | 112.00 |
| Expenses | 216.00 | 204.00 | 227.00 | 217.00 | 161.00 | 195.00 | 188.00 | 158.00 | 132.00 | 127.00 | 114.00 | 109.00 | 90.00 |
| Operating Profit | 85.00 | 60.00 | 85.00 | 83.00 | 72.00 | 75.00 | 68.00 | 65.00 | 43.00 | 34.00 | 33.00 | 30.00 | 22.00 |
| OPM % | 28.00 | 23.00 | 27.00 | 28.00 | 31.00 | 28.00 | 26.00 | 29.00 | 25.00 | 21.00 | 22.00 | 22.00 | 19.00 |
| Other Income | 4.00 | 23.00 | 4.00 | 3.00 | 2.00 | 4.00 | 10.00 | 2.00 | 1.00 | 4.00 | 2.00 | 4.00 | 0.00 |
| Depreciation | 3.00 | 3.00 | 3.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 0.00 | 0.00 |
| Interest | 5.00 | 5.00 | 5.00 | 4.00 | 2.00 | 4.00 | 2.00 | 3.00 | 2.00 | 4.00 | 4.00 | 4.00 | 2.00 |
| Profit before tax | 81.00 | 75.00 | 81.00 | 80.00 | 70.00 | 74.00 | 74.00 | 64.00 | 42.00 | 35.00 | 30.00 | 30.00 | 19.00 |
| Tax % | 18.00 | 13.00 | 12.00 | 19.00 | 19.00 | 15.00 | 20.00 | 25.00 | 18.00 | 18.00 | 16.00 | 22.00 | 13.00 |
| Net Profit | 66.00 | 66.00 | 71.00 | 65.00 | 57.00 | 63.00 | 59.00 | 48.00 | 34.00 | 28.00 | 25.00 | 23.00 | 17.00 |
| EPS in Rs | 5.44 | 5.42 | 6.18 | 5.71 | 5.00 | 5.73 | 5.39 | 4.39 | 3.33 | 2.76 | 2.46 | 2.32 | 2.00 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Sales | 1,107.00 | 924.00 | 560.00 | 327.00 | 286.00 | 142.00 |
| Expenses | 808.00 | 673.00 | 441.00 | 277.00 | 249.00 | 130.00 |
| Operating Profit | 300.00 | 251.00 | 119.00 | 50.00 | 37.00 | 12.00 |
| OPM % | 27.00 | 27.00 | 21.00 | 15.00 | 13.00 | 9.00 |
| Other Income | 33.00 | 17.00 | 10.00 | 13.00 | 8.00 | 5.00 |
| Interest | 16.00 | 11.00 | 14.00 | 11.00 | 5.00 | 7.00 |
| Depreciation | 10.00 | 3.00 | 2.00 | 1.00 | 1.00 | 1.00 |
| Profit before tax | 306.00 | 254.00 | 114.00 | 51.00 | 39.00 | 10.00 |
| Tax % | 15.00 | 20.00 | 18.00 | 23.00 | 24.00 | 22.00 |
| Net Profit | 259.00 | 204.00 | 93.00 | 39.00 | 30.00 | 8.00 |
| EPS in Rs | 21.33 | 18.63 | 9.11 | 4.67 | 3.63 | 1.11 |
| Dividend Payout % | 0.00 | 1.00 | 2.00 | 0.00 | 3.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Equity Capital | 121.00 | 111.00 | 103.00 | 83.00 | 82.00 | 69.00 |
| Reserves | 1,473.00 | 942.00 | 450.00 | 114.00 | 76.00 | 9.00 |
| Borrowings | 152.00 | 40.00 | 49.00 | 52.00 | 47.00 | 26.00 |
| Other Liabilities | 104.00 | 159.00 | 111.00 | 121.00 | 78.00 | 68.00 |
| Total Liabilities | 1,851.00 | 1,252.00 | 712.00 | 371.00 | 284.00 | 171.00 |
| Fixed Assets | 547.00 | 183.00 | 57.00 | 48.00 | 42.00 | 42.00 |
| CWIP | 277.00 | 417.00 | 130.00 | 7.00 | 7.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 1,027.00 | 652.00 | 525.00 | 316.00 | 235.00 | 129.00 |
| Total Assets | 1,851.00 | 1,252.00 | 712.00 | 371.00 | 284.00 | 171.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 32.00 | 148.00 | -32.00 | 26.00 | -58.00 | 17.00 |
| Cash from Investing Activity | -354.00 | -417.00 | -134.00 | -21.00 | -8.00 | -3.00 |
| Cash from Financing Activity | 315.00 | 274.00 | 249.00 | -6.00 | 69.00 | -12.00 |
| Net Cash Flow | -7.00 | 5.00 | 83.00 | -1.00 | 4.00 | 2.00 |
| Free Cash Flow | -175.00 | -268.00 | -166.00 | 5.00 | -65.00 | 14.00 |
| CFO/OP % | 15.00 | 73.00 | -12.00 | 52.00 | -161.00 | 159.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Debtor Days | 140.00 | 129.00 | 142.00 | 235.00 | 165.00 | 156.00 |
| Inventory Days | 75.00 | 59.00 | 87.00 | 56.00 | 70.00 | 66.00 |
| Days Payable | 32.00 | 71.00 | 78.00 | 105.00 | 75.00 | 157.00 |
| Cash Conversion Cycle | 182.00 | 117.00 | 151.00 | 186.00 | 160.00 | 65.00 |
| Working Capital Days | 158.00 | 114.00 | 175.00 | 146.00 | 141.00 | 113.00 |
| ROCE % | 23.00 | 31.00 | 30.00 | 27.00 | 29.00 | — |
Corporate Actions
5 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 19 Sep 2025 | 19 Sep 2025 | — | 0.15 | |
| Dividend | 20 Sep 2024 | 20 Sep 2024 | — | 0.15 | |
| Other | 20 Sep 2024 | — | — | — | Annual General Meeting |
| Dividend | 17 Nov 2021 | 18 Nov 2021 | — | 0.10 | |
| Other | 05 Nov 2014 | 07 Nov 2014 | — | — | Reduction of Capital |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
-
Rating update27 Feb from crisil
-
Rating update9 Feb from icra
-
Rating update3 Feb from icra
-
Rating update16 Jan from crisil
-
Rating update12 Jan from crisil
-
Rating update27 Nov 2025 from crisil