Maiden Forgings Ltd
Maiden Forgings Ltd (MAIDEN) last reported results for the quarter ended Mar 2026, with sales of ₹122 crore and net profit of ₹3 crore. The stock last traded at ₹96.5, a market capitalisation of ₹137 crore, on a P/E of 27.2. Over the past 52 weeks the stock has ranged between ₹63.5 and ₹125. Figures are as of 6 Oct 2026 and are not real time.
Maiden Forgings Ltd share price and key metrics
- Current price
- ₹96.5
- Market cap
- ₹137 cr
- Stock P/E
- 27.2
- Book value
- ₹57.1
- ROE
- 6.41%
- ROCE
- 9.30%
- Dividend yield
- 0.00%
- 52w high / low
- 125/63.5
Metrics as of 6 Oct 2026. Not real time.
Track Maiden Forgings Ltd
Cruxal reads every Maiden Forgings Ltd filing as it lands, scores what it means for the stock, and emails you the ones that matter. Free to start.
Maiden Forgings Ltd growth and returns
- 10 Years
- %
- 5 Years
- 3%
- 3 Years
- 2%
- TTM
- 9%
- 10 Years
- %
- 5 Years
- 24%
- 3 Years
- -19%
- TTM
- -17%
- 10 Years
- %
- 5 Years
- %
- 3 Years
- -3%
- 1 Year
- 25%
- 10 Years
- %
- 5 Years
- 12%
- 3 Years
- 10%
- Last Year
- 6%
Maiden Forgings Ltd quarterly results
In the quarter ended Mar 2026, sales were ₹122 cr, up 17.3% from ₹104 cr a year earlier. Net profit was ₹3 cr, up 50.0% year on year.
| ₹ crore | Sep 2022 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 108 | 116 | 121 | 109 | 104 | 109 | 122 |
| Expenses | 99 | 105 | 108 | 99 | 94 | 105 | 112 |
| Operating profit | 10 | 10 | 12 | 10 | 10 | 5 | 10 |
| OPM % | 9% | 9% | 10% | 9% | 9% | 4.4% | 8% |
| Other income | 0 | 1 | 0 | 0 | 1 | 2 | 0 |
| Interest | 3 | 3 | 3 | 3 | 4 | 3 | 4 |
| Depreciation | 2 | 2 | 2 | 1 | 3 | 2 | 2 |
| Profit before tax | 6 | 6 | 7 | 6 | 3 | 2 | 4 |
| Tax % | 28% | 33% | 26% | 32% | 24% | 16% | 34% |
| Net profit | 4 | 4 | 6 | 4 | 2 | 2 | 3 |
| EPS (₹) | 7.92 | 2.94 | 3.90 | 2.85 | 1.41 | 1.48 | 2.06 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Maiden Forgings Ltd annual results
| ₹ crore | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 204 | 199 | 210 | 221 | 236 | 213 | 232 |
| Operating profit | 13 | 13 | 12 | 22 | 23 | 19 | 15 |
| OPM % | 6% | 7% | 6% | 10% | 10% | 9% | 6% |
| Net profit | 2 | 2 | 2 | 10 | 10 | 6 | 5 |
| EPS (₹) | 3.57 | 3.24 | 4.20 | 9.22 | 6.84 | 4.26 | 3.53 |
TTM is the trailing twelve months to the most recent quarter.
Maiden Forgings Ltd balance sheet
| ₹ crore | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity capital | 5 | 5 | 5 | 10 | 14 | 14 | 14 |
| Reserves | 17 | 24 | 26 | 30 | 57 | 62 | 67 |
| Borrowings | 63 | 61 | 62 | 68 | 63 | 69 | 69 |
| Other liabilities | 14 | 15 | 17 | 19 | 15 | 18 | 30 |
| Total liabilities | 99 | 105 | 110 | 127 | 149 | 164 | 181 |
| Fixed assets | 29 | 26 | 24 | 29 | 29 | 37 | 34 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 70 | 79 | 86 | 98 | 119 | 127 | 143 |
| Total assets | 99 | 105 | 110 | 127 | 149 | 164 | 181 |
As reported by the company. Total assets equal total liabilities by construction.
Maiden Forgings Ltd cash flow
| ₹ crore | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Cash from operations | 3 | -0 | 3 | 11 | -12 | 5 | 6 |
| Cash from investing | -3 | -0 | -2 | -9 | -7 | -9 | -4 |
| Cash from financing | -1 | 2 | -1 | -2 | 19 | 5 | -3 |
| Net cash flow | -1 | 2 | -1 | 0 | -1 | 0 | -0 |
| Free cash flow | -0 | -1 | 0 | 3 | -17 | -5 | 2 |
| CFO / operating profit | 24% | -0% | 21% | 52% | -52% | 23% | 42% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Maiden Forgings Ltd operating ratios
| Per year | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| ROCE % | — | 11% | 10% | 19% | 16% | 11% | 9% |
| Debtor days | 55 | 61 | 47 | 41 | 34 | 51 | 62 |
| Inventory days | 48 | 75 | 81 | 99 | 124 | 153 | 150 |
| Days payable | 26 | 26 | 14 | 25 | 17 | 26 | 33 |
| Cash conversion cycle | 77 | 110 | 114 | 116 | 141 | 178 | 179 |
| Working capital days | 20 | 30 | 33 | 34 | 74 | 90 | 86 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Maiden Forgings Ltd shareholding pattern
Promoters held 71.97% at Mar 2026, down from 73.37% at Mar 2024. DIIs 0.15%.
| % held | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 73.37% | 73.37% | 73.37% | 73.37% | 71.97% | 71.97% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.15% |
| Public | 26.64% | 26.63% | 26.62% | 26.63% | 28.04% | 27.88% |
| No. of shareholders | 841 | 1,256 | 1,488 | 1,490 | 1,288 | 1,071 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Maiden Forgings Ltd corporate filings
- The Company is hereby submitting the confirmation certificate received from M/S Maashilta Securities Private Limited, Registrar and Transfer Agent of the Company, confirming compliance ....Company Updatelow impact
- Maiden Forgings Reports 16% YoY Revenue Growth to 127 Cr in H1 FY27; Sales Volume Up 14.2%Company Updatelow impact
Cruxal's analysis: Maiden Forgings Ltd announced that its revenue from operations for H1 FY27 increased by…
Read the full analysis - Maiden Forgings Limited passes AGM with all resolutions approved; no immediate financial or strategic disclosuresAGM/EGMlow impact
Cruxal's analysis: Maiden Forgings Limited held its 21st AGM on September 28, 2026, with all resolutions…
Read the full analysis - Maiden Forgings Limited Concludes 21st Annual General MeetingAGM/EGMlow impact
Cruxal's analysis: Maiden Forgings Limited has successfully concluded its 21st Annual General Meeting held…
Read the full analysis - Pursuant to SEBI(PIT) Regulations, 2015, read with the Company''s code for prevention of Insider Trading, we would like to inform you that the Trading Window for trading/dealing in securities ....Insider Trading / SASTlow impact
- Maiden Forgings Ltd announces book closure for 21st Annual General Meeting on September 28, 2026Corp. Actionlow impact
Cruxal's analysis: Maiden Forgings Ltd has scheduled its 21st Annual General Meeting for Monday, September…
Read the full analysis - Maiden Forgings Ltd schedules 21st Annual General Meeting for September 28, 2026Company Updatelow impact
Cruxal's analysis: Maiden Forgings Ltd has published newspaper advertisements regarding its 21st Annual…
Read the full analysis - Maiden Forgings Ltd schedules Annual General Meeting for September 28, 2026Company Updatelow impact
Cruxal's analysis: Maiden Forgings Ltd has issued a notice regarding its upcoming Annual General Meeting…
Read the full analysis - Maiden Forgings Limited Appoints Cost Auditor for Financial Year 2026-2027Company Updatelow impact
Cruxal's analysis: Maiden Forgings Limited has formally announced the appointment of M/s Vivek Agrawal & Co…
Read the full analysis - Maiden Forgings Limited Appoints M/s M Lal & Co as Internal Auditor for FY 2026-2027Company Updatelow impact
Cruxal's analysis: Maiden Forgings Limited has formally announced the appointment of M/s M Lal & Co as its…
Read the full analysis - Maiden Forgings Limited appoints M/s Mohit Singhal & Associates as Secretarial Auditor for FY 2026-27Company Updatelow impact
Cruxal's analysis: Maiden Forgings Limited has formally announced the appointment of M/s Mohit Singhal &…
Read the full analysis - Maiden Forgings Limited Announces Routine Auditor Appointments and 21st AGM PreparationsOtherslow impact
Cruxal's analysis: Maiden Forgings Limited has formally approved the appointment of new auditors for the…
Read the full analysis - Maiden Forgings Ltd confirms participation in virtual analyst/investor meeting on August 20, 2026Company Updatelow impact
Cruxal's analysis: Maiden Forgings Ltd held a virtual meeting with analysts and investors on August 20…
Read the full analysis - Maiden Forgings Ltd schedules analyst and investor meeting for August 20, 2026Company Updatelow impact
Cruxal's analysis: Maiden Forgings Ltd has announced a scheduled meeting with analysts and investors to be…
Read the full analysis - Maiden Forgings Ltd sells vacant land in Ghaziabad for Rs 12.90 CroreCompany Updatemedium impact
Cruxal's analysis: Maiden Forgings Ltd has completed the sale of a vacant land parcel located at C-10…
Read the full analysis
This page shows filings on a one-hour delay. Sign in to see them as they land, with Cruxal's analysis of what each one means.
Cruxal publishes market data and coverage for information only. Nothing here is investment advice.