Balu Forge Industries Ltd
Balu Forge Industries Ltd (BALUFORGE) last reported results for the quarter ended Jun 2026, with sales of ₹301 crore and net profit of ₹66 crore. The stock last traded at ₹513, a market capitalisation of ₹6,229 crore, on a P/E of 23.2. Over the past 52 weeks the stock has ranged between ₹341 and ₹678. Figures are as of 6 Oct 2026 and are not real time.
Balu Forge Industries Ltd share price and key metrics
- Current price
- ₹513
- Market cap
- ₹6,229 cr
- Stock P/E
- 23.2
- Book value
- ₹131
- ROE
- 19.6%
- ROCE
- 22.7%
- Dividend yield
- 0.03%
- 52w high / low
- 678/341
Metrics as of 6 Oct 2026. Not real time.
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Balu Forge Industries Ltd growth and returns
- 10 Years
- %
- 5 Years
- 51%
- 3 Years
- 50%
- TTM
- 20%
- 10 Years
- %
- 5 Years
- 102%
- 3 Years
- 88%
- TTM
- 18%
- 10 Years
- 26%
- 5 Years
- 14%
- 3 Years
- 32%
- 1 Year
- -22%
- 10 Years
- %
- 5 Years
- 22%
- 3 Years
- 22%
- Last Year
- 20%
Balu Forge Industries Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹301 cr, up 29.2% from ₹233 cr a year earlier. Net profit was ₹66 cr, up 15.8% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 223 | 256 | 270 | 233 | 300 | 311 | 264 | 301 |
| Expenses | 158 | 188 | 195 | 161 | 217 | 227 | 204 | 216 |
| Operating profit | 65 | 68 | 75 | 72 | 83 | 85 | 60 | 85 |
| OPM % | 29% | 26% | 28% | 31% | 28% | 27% | 23% | 28% |
| Other income | 2 | 10 | 4 | 2 | 3 | 4 | 23 | 4 |
| Interest | 3 | 2 | 4 | 2 | 4 | 5 | 5 | 5 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 |
| Profit before tax | 64 | 74 | 74 | 70 | 80 | 81 | 75 | 81 |
| Tax % | 25% | 20% | 15% | 19% | 19% | 12% | 13% | 18% |
| Net profit | 48 | 59 | 63 | 57 | 65 | 71 | 66 | 66 |
| EPS (₹) | 4.39 | 5.39 | 5.73 | 5.00 | 5.71 | 6.18 | 5.42 | 5.44 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Balu Forge Industries Ltd annual results
| ₹ crore | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 142 | 286 | 327 | 560 | 924 | 1,107 | 1,175 |
| Operating profit | 12 | 37 | 50 | 119 | 251 | 300 | 312 |
| OPM % | 9% | 13% | 15% | 21% | 27% | 27% | 27% |
| Net profit | 8 | 30 | 39 | 93 | 204 | 259 | 268 |
| EPS (₹) | 1.11 | 3.63 | 4.67 | 9.11 | 18.63 | 21.33 | 22.75 |
TTM is the trailing twelve months to the most recent quarter.
Balu Forge Industries Ltd balance sheet
| ₹ crore | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 69 | 82 | 83 | 103 | 111 | 121 |
| Reserves | 9 | 76 | 114 | 450 | 942 | 1,473 |
| Borrowings | 26 | 47 | 52 | 49 | 40 | 152 |
| Other liabilities | 68 | 78 | 121 | 111 | 159 | 104 |
| Total liabilities | 171 | 284 | 371 | 712 | 1,252 | 1,851 |
| Fixed assets | 42 | 42 | 48 | 57 | 183 | 547 |
| CWIP | 0 | 7 | 7 | 130 | 417 | 277 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 129 | 235 | 316 | 525 | 652 | 1,027 |
| Total assets | 171 | 284 | 371 | 712 | 1,252 | 1,851 |
As reported by the company. Total assets equal total liabilities by construction.
Balu Forge Industries Ltd cash flow
| ₹ crore | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 17 | -58 | 26 | -32 | 148 | 32 |
| Cash from investing | -3 | -8 | -21 | -134 | -416 | -354 |
| Cash from financing | -12 | 69 | -6 | 249 | 273 | 315 |
| Net cash flow | 2 | 4 | -1 | 83 | 5 | -7 |
| Free cash flow | 14 | -65 | 5 | -166 | -268 | -322 |
| CFO / operating profit | 159% | -161% | 52% | -12% | 73% | 15% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Balu Forge Industries Ltd operating ratios
| Per year | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| ROCE % | — | 29% | 27% | 30% | 31% | 23% |
| Debtor days | 156 | 165 | 235 | 142 | 129 | 140 |
| Inventory days | 66 | 70 | 56 | 87 | 59 | 75 |
| Days payable | 157 | 75 | 105 | 78 | 71 | 32 |
| Cash conversion cycle | 65 | 160 | 186 | 151 | 117 | 182 |
| Working capital days | 113 | 141 | 146 | 175 | 116 | 158 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Balu Forge Industries Ltd shareholding pattern
Promoters held 53.51% at Jun 2026, down from 54.85% at Jun 2025. FIIs 5.04% and DIIs 0.95%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 54.71% | 54.71% | 55.25% | 54.85% | 54.85% | 54.87% | 54.39% | 53.51% |
| FIIs | 10.43% | 6.93% | 7.07% | 8.20% | 8.33% | 7.94% | 6.03% | 5.04% |
| DIIs | 0.93% | 0.97% | 1.07% | 0.86% | 0.83% | 0.80% | 0.89% | 0.95% |
| Government | 0.00% | 4.23% | 4.17% | 4.06% | 4.06% | 4.06% | 4.02% | 3.86% |
| Public | 33.93% | 33.16% | 32.43% | 32.03% | 31.93% | 32.34% | 34.68% | 36.64% |
| No. of shareholders | 50,955 | 66,310 | 73,283 | 77,243 | 72,351 | 70,445 | 79,711 | 83,997 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Cruxal coverage of Balu Forge Industries Ltd
Balu Forge Industries Ltd corporate filings
- Corporate Voting Results Confirm Approval of Financials and Dividends at Balu Forge Industries Limited (AGM held on 30th September 2026)AGM/EGMlow impact
Cruxal's analysis: Balu Forge Industries Limited has successfully concluded its 37th AGM with all…
Read the full analysis - Balu Forge Industries Limited holds AGM; no new financial disclosures or strategic updates announcedAGM/EGMlow impact
Cruxal's analysis: Balu Forge Industries Limited conducted its 37th AGM on 30th September 2026 via VC/OAVM…
Read the full analysis - Closure of Trading WindowInsider Trading / SASTlow impact
- Balu Forge Industries Limited announces change in Company Secretary and Compliance OfficerCompany Updatelow impact
Cruxal's analysis: Balu Forge Industries Limited has informed the exchanges of the resignation of Ms…
Read the full analysis - Balu Forge Industries Limited announces resignation of Company Secretary and Compliance OfficerCompany Updatelow impact
Cruxal's analysis: Balu Forge Industries Limited has formally notified the stock exchanges regarding the…
Read the full analysis - Balu Forge Industries Ltd publishes routine newspaper advertisement regarding corporate disclosuresCompany Updatelow impact
Cruxal's analysis: Balu Forge Industries Ltd has released a newspaper publication in compliance with…
Read the full analysis - Balu Forge Industries schedules Analyst/Institutional Investor meeting for September 11, 2026Company Updatelow impact
Cruxal's analysis: Balu Forge Industries has announced a scheduled meeting with analysts and institutional…
Read the full analysis - Balu Forge Industries Ltd dispatches annual report web-links for FY 2025-26Company Updatelow impact
Cruxal's analysis: Balu Forge Industries Ltd has complied with SEBI (LODR) Regulations 2015 by dispatching…
Read the full analysis - Balu Forge Industries Ltd files Business Responsibility and Sustainability Reporting (BRSR) for FY 2025-26Otherslow impact
Cruxal's analysis: Balu Forge Industries Ltd has submitted its Business Responsibility and Sustainability…
Read the full analysis - Balu Forge Industries Ltd announces 37th AGM scheduled for September 30, 2026Otherslow impact
Cruxal's analysis: Balu Forge Industries Ltd has filed its Annual Report for the financial year 2025-26…
Read the full analysis - Balu Forge Industries Limited Announces 37th Annual General Meeting for September 30, 2026AGM/EGMlow impact
Cruxal's analysis: Balu Forge Industries Limited has issued a notice for its 37th Annual General Meeting…
Read the full analysis - Balu Forge Industries schedules analyst and institutional investor meeting for September 10, 2026Company Updatelow impact
Cruxal's analysis: Balu Forge Industries has announced a scheduled meeting with analysts and institutional…
Read the full analysis - Balu Forge Industries Limited announces book closure dates for 37th Annual General MeetingCompany Updatelow impact
Cruxal's analysis: Balu Forge Industries Limited has formally notified the stock exchanges that its Register…
Read the full analysis - Balu Forge Industries Limited Announces Final Dividend of INR 0.15 per Share and Schedules 37th AGM for September 30, 2026Board Meetinglow impact
Cruxal's analysis: Balu Forge Industries Limited has declared a final dividend of INR 0.15 per fully paid-up…
Read the full analysis - Balu Forge Industries Limited Seeks Shareholder Approval for Foreign Currency Convertible Bonds (FCCB) IssuanceAGM/EGMmedium impact
Cruxal's analysis: Balu Forge Industries Limited has conducted an Extra Ordinary General Meeting (EOGM) to…
Read the full analysis - Balu Forge Industries Ltd schedules Analyst/Institutional Investor meeting for September 8, 2026Company Updatelow impact
Cruxal's analysis: Balu Forge Industries Ltd has announced a scheduled meeting with analysts and…
Read the full analysis - Balu Forge Industries Expands Manufacturing Capabilities with Acquisition of Large-Scale Ring Rolling Production LineCompany Updatehigh impact
Cruxal's analysis: Balu Forge Industries Ltd has announced the acquisition of a state-of-the-art ring…
Read the full analysis - Balu Forge Industries appoints GoIndia Advisors LLP for Investor Relations Management ServicesCompany Updatelow impact
Cruxal's analysis: Balu Forge Industries Limited has announced the engagement of GoIndia Advisors LLP to…
Read the full analysis - Balu Forge Industries Limited schedules Board Meeting for 07th September 2026 to consider final dividendBoard Meetinglow impact
Cruxal's analysis: Balu Forge Industries Limited has issued a formal intimation regarding a Board Meeting…
Read the full analysis - Balu Forge Industries Secures Multi-Month Contract for 155mm ERFB BB/BT Ammunition ShellsCompany Updatehigh impact
Cruxal's analysis: Balu Forge Industries Ltd has successfully commercialized and received its first purchase…
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