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Prices as of 9 Oct 2026 close · Not investment advice

MM Forgings Limited

NSE: MMFLAuto Components & Equipments

Share price

₹552.15

-0.28% close of 9 Oct 2026

Market cap ₹2,650 CrP/E 23.5

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

55

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹2,650 Cr

P/E ratio

23.5

P/B ratio

2.7

ROCE

9.0%

ROE

10.5%

Dividend yield

0.7%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹680.2052-week low ₹298.10

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 9.6% over the past year, and 13.3% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 18.2% to 17.7% over the last four years.

Whether it grew faster than its sector

It grew 13.3% a year against a sector median of 10.5% — 2.8 percentage points faster.

Room to re-rate, or risk of de-rating

At 23.5× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 52.1×, across 5 companies. It is against its own five-year median of 21.2×, the 71st percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
MM Forgings Limited — this one-8%/yr23.5×—
Samvardhana Motherson International Limited40%/yr35.3×₹0.88
Bosch Limited14%/yr55.3×₹3.9
Bharat Forge Limited33%/yr86.4×₹2.6
UNO Minda Limited23%/yr52.1×₹2.3
Schaeffler India Limited10%/yr45.4×₹4.5

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Auto Components & Equipments), it ranks 82 of 101 on returns, 32 of 99 on growth, 22 of 101 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 9.0% on capital, ahead of 19% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years it made ₹869 crore of cash from the business but spent ₹1152 crore on plant and equipment, ₹283 crore more than it made; the gap was mostly borrowed — borrowings rose from ₹685 crore to ₹1235 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 153 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 25 days before it paid its own suppliers to paid 18 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Revenue up 13%, with profit almost five times higher on a one-off land sale

Announced 14 Aug 2026 · Consolidated · Unaudited

Revenue

₹410 Cr

Revenue vs last year

+13.2%

Revenue vs last quarter

-4.7%

Net profit

₹90 Cr

Profit vs last year

+375.9%

Profit vs last quarter

+100.9%

Net margin

22.1%

EPS

₹18.73

Earnings call transcript · 17 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹2,650 Cr
Prev close
₹552.15
52w High
₹688
52w Low
₹288
Enterprise value
₹3,660 Cr
Beta
1.2
Price CAGR 1y
85.0%
Price CAGR 3y
9.0%
Price CAGR 5y
6.0%
Price CAGR 10y
17.0%

Ratios

Return on assets
4.0%
PEG ratio
-3.0
P/E ratio
23.5
P/B ratio
2.7
EV / EBITDA
12.5
Industry P/E
32.0
ROCE
9.0%
ROCE 5y average
13.0%
ROE
10.5%
Debt / Equity
1.3
Interest coverage
2.5
Dividend yield
0.7%
ROE 3y average
14.0%
ROE last year
10.0%

Annual P&L

Annual revenue
₹1,590 Cr
Annual profit
₹99 Cr
Operating margin
18.0%
Net profit margin
6.2%
EBITDA margin
17.6%
Sales growth 3y
2.8%
Sales growth 5y
16.2%
Profit growth 3y
-8.0%
Profit growth 5y
17.0%
EPS
₹20.4
Sales growth TTM
10.0%
Profit growth TTM
1.0%
Dividend payout
20.0%

Quarter P&L

Sales latest quarter
₹420 Cr
Profit latest quarter
₹90 Cr
YoY quarterly sales growth
16.3%
YoY quarterly profit growth
373.7%
OPM latest quarter
17.8%

Balance Sheet

Book Value
₹203
Face Value
₹10.0
Total debt
₹1,235 Cr
Total cash
₹225 Cr
Borrowings
₹1,235 Cr
Reserves / Equity
19.3

Cash Flow

Operating cash flow
₹228 Cr
Free cash flow
₹40 Cr
FCF yield
-1.4%
Net cash flow
₹8 Cr

Shareholding

Promoter holding
56.3%
FII holding
2.4%
DII holding
7.5%
Public holding
33.7%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Samvardh. Mothe.156.8036.21,65,4940.381,075.781.535,243.816.613.4
Bosch43,240.0054.01,27,5410.61706.15.25,841.922.021.5
Bharat Forge1,808.0087.588,3520.46-89.9-57.74,639.918.712.6
Uno Minda1,098.3051.963,4230.24315.51.85,556.923.819.6
Schaeffler India3,730.0045.158,3010.93336.713.72,681.417.527.9
Sona BLW Precis.798.0064.149,8090.42220.173.41,157.250.815.1
Tube Investments2,313.0071.544,7730.15294.0-15.36,215.317.117.1
M M Forgings563.8024.22,7220.6890.478.1420.516.39.0
Median452.9529.31,5800.3212.322.3265.521.016.4

Competes with: Bharat Forge Limited, Bosch Limited, Samvardhana Motherson International Limited, Schaeffler India Limited, Sona BLW Precision Forgings Limited, Tube Investments of India Limited, UNO Minda Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales370397399398382398374371362385414430420
Expenses305322323320309321301298298318344349346
Material Cost141162159164153171
Change in Inventories293.841.7530402.04
Purchases of Stock-in-Trade000000
Employee Cost404047474351
Other Expenses8892111104113121
Operating Profit65757578737773736367698175
OPM %18191920191920201817171918
Other Income55666746843163
Exceptional items (within Other Income)0.02000-0.0456
Interest1091113151615141821201816
Depreciation21212120222323262524262830
Profit before tax40504950424539402825263591
Tax %2829312729293117313433-261
Net Profit29353437303227331917184590
EPS in Rs67.346.947.626.236.615.506.893.973.433.649.2719
Diluted EPS in Rs6.903.973.433.649.2719

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2008Mar 2009Mar 2010Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1912071586399347697521,1401,4621,5631,5251,5901,649
Expenses1541751365097596376239311,1891,2701,2291,3101,357
Material Cost661638
Change in Inventories1.0375
Purchases of Stock-in-Trade00
Employee Cost162177
Other Expenses405421
Operating Profit373223130175132129209273293296280292
OPM %19151420191717181919191818
Other Income687481920161222231670
Exceptional items (within Other Income)0.060.55
Interest49613323832283042607876
Depreciation1816124658606568798393103108
Profit before tax20141274935352129177189166115178
Tax %292812182921112928292614
Net Profit141010616642469112813512399169
EPS in Rs2.982.112.1613148.689.54192628262035
Diluted EPS in Rs2520
Dividend Payout %211817201829261611141620

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
23%
5 years
16%
3 years
3%
TTM
10%

Compounded profit growth

10 years
—
5 years
17%
3 years
-8%
TTM
1%

Stock price CAGR

10 years
17%
5 years
6%
3 years
9%
1 year
85%

Return on equity

10 years
—
5 years
16%
3 years
14%
Last year
10%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2008Mar 2009Mar 2010Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital61212122424242424244848
Reserves818392351403431463535649765845927
Borrowings1041111143856885665326857569311,1851,235
Other Liabilities29182490103113230170232249271286
Minority Interest0.36
Total Liabilities2202242428381,2181,1341,2501,4141,6611,9692,3502,496
Fixed Assets1011131304066517126757088049149641,101
CWIP222522273913173663124383335
Investments0003333222223410
Other Assets9786904025244065536477729089981,051
Total Assets2202242428381,2181,1341,2501,4141,6611,9692,3502,496

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2008Mar 2009Mar 2010Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6232742728320150160149182228
Cash from Investing Activity-38-41-15-86-301-78-11-126-187-232-358-182
Cash from Financing Activity3218-7112281-2023141677185-38
Net Cash Flow0-0530831239-10-688
Free Cash Flow-41-92-89-288189-940-40-102-22140

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2008Mar 2009Mar 2010Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days352967363510565049648596
Inventory Days190149151178168140190147163176188171
Days Payable62196692508210879898295103
Cash Conversion Cycle16316015212115368139118123158178165
Working Capital Days142133155-40-11-6160-25-25-20-14-18
ROCE %151291498141515129

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters565656565656565656565656
FIIs1.721.932.282.853.413.753.091.791.761.741.852.44
DIIs16141211119.858.928.338.318.558.387.49
Public262730303030323434333334
No. of Shareholders16,57018,42922,52927,47834,49433,87834,34935,74235,81134,24430,82829,930

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +78.2% (₹309.90 → ₹552.15)Brick size ₹27.31 (fixed)Bricks 22
₹300₹400₹500₹600₹552Jan '26Apr '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹552.15 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

36.50pct

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

1,010inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-09-30

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-09-30

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-09-30

FY revenue / permanent employees + workers, same basis (calc)

66,40,152inr

2026-03-31

News

News and filings about MM Forgings Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • power and fuel (forging furnaces)
  • steel billets (carbon, alloy, micro-alloy and stainless grades)
  • stores and tools (dies, consumables)

Depends on the price of

  • fuel
  • steel

Sells to

  • Ashok Leyland · Steel forgings / automotive forged components for commercial vehicles. Seed edge RE-CONFIR…
  • Escorts Kubota Limited · Steel forgings / tractor and agricultural components. CARRIED SEED - not re-named this run…
  • Hero MotoCorp · Steel forgings / automotive forged components. CARRIED SEED, RETAINED BUT FLAGGED FOR REVI…
  • Mahindra & Mahindra · Steel forgings / automotive and agricultural components. CARRIED SEED - not re-named in so…
  • Maruti Suzuki India · Steel forgings / passenger car components. CARRIED SEED - not re-named this run, retained…
  • Tata Motors Limited · Steel forgings / automotive forged components (front axle beams, crankshafts, knuckles, co…

Buys from

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Automobile and Auto Components
Industry
Auto Components & Equipments
Classification
Automobile and Auto Components › Auto Components & Equipments
ISIN
INE227C01017

Plants

  • Abhinava Rizel Private Limited (EV powertrain unit)
  • Ambattur plant
  • Captive solar power site
  • Captive wind farm
  • DVS Industries Private Limited (crankshaft machining unit)
  • Padappai forging plant
  • Pulivalam plant
  • Ranipet plant
  • Singampunari forging plant
  • Viralimalai forging plant

News impact

Big market events that reach MM Forgings Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

12 Jun 2026interim₹4
30 Jul 2025unspecified₹4
16 Jul 2024bonus₹0
14 Jun 2024interim₹8
29 May 2023interim₹6
6 Jun 2022interim₹6
1 Jul 2021unspecified₹5
19 Mar 2020interim₹5

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.