Balu Forge Industries Limited
NSE: BALUFORGEINE011E01029·Capital GoodsMicrocap 250·www.baluindustries.com ↗·Mcap ₹6,147 Cr·Listed 2024
₹506.80▲ ₹8.70  (1.75%)
52W: ₹341 – ₹678 · Vol: 6.2L shares · Close 25 Sept
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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY24
₹ croreQ1 FY27Q4 FY26Q3 FY26Q2 FY26Q1 FY26Q4 FY25Q3 FY25Q2 FY25Q1 FY25Q4 FY24
Revenue from operations301264311300233270256223175161
Other income3.923.54.53.31.74.29.62.51.14.4
Total expenses224212235223165200191161134131
EBITDA84.859.984.582.872.37567.765.243.234.4
EBITDA margin28.2%22.7%27.2%27.6%31.0%27.8%26.5%29.3%24.6%21.3%
Finance costs4.64.85.442.24.22.32.91.53.5
Depreciation3.33.22.92.11.70.90.80.80.80.6
Profit before tax80.775.480.779.97074.174.263.941.934.6
Tax14.69.79.614.91311.415.215.87.76.3
Net profit66.165.771.1655762.75948.134.228.3
Net margin22.0%24.9%22.9%21.7%24.5%23.2%23.1%21.6%19.5%17.5%
EPS (₹)5.496.356.416.085.045.745.524.553.332.76
Net profit YoY+15.9%+4.9%+20.5%+35.1%+66.9%+121.7%––––

Annual results

financial years ending March · from the fourth-quarter filings
₹ croreFY26FY25FY24
Revenue from operations1,107924560
Other income32.917.110.4
Total expenses834687456
EBITDA300251119
EBITDA margin27.0%27.2%21.3%
Finance costs16.51113.6
Depreciation103.42.1
Profit before tax306254114
Tax47.250.120.2
Net profit25920493.7
Net margin23.4%22.1%16.7%
EPS (₹)23.9019.249.80
Net profit YoY+27.0%+117.6%–
EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore
₹ croreFY26FY25FY24
Operating cash flow31.7148−18
Investing cash flow−354−417−148
Financing cash flow315274249
Capital expenditure207416148
Free cash flow (CFO − capex)−175−268−166

Net profit trend

annual, ₹ crore
FY24
₹93.7
FY25
₹204+118%
FY26
₹259+27%

Result filings

as filed with NSE · PDF and XBRL
PeriodBasisFiledDocuments
Q1 FY27Consolidated12 Aug 2026PDF on NSE XBRL
Q1 FY27Standalone–PDF on NSE XBRL
Q1 FY27Standalone12 Aug 2026PDF on NSE XBRL
Q4 FY26Consolidated · audited30 May 2026PDF on NSE XBRL
Q4 FY26Standalone · audited30 May 2026PDF on NSE XBRL
Q4 FY26Standalone · audited–PDF on NSE XBRL
Q3 FY26Consolidated12 Feb 2026PDF on NSE XBRL
Q3 FY26Standalone12 Feb 2026PDF on NSE XBRL
Q2 FY26Consolidated14 Nov 2025PDF on NSE XBRL
Q2 FY26Standalone14 Nov 2025PDF on NSE XBRL

Annual reports

NSE archive
Key ratios
P/E (TTM)5Y avg 28.1×23.0×
P/B5Y avg 6.72×3.86×
ROEFY26, on average equity19.6%
Net margin23.4%
Debt / equity0.08×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹22.07
Market cap₹6,152 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
3.86×
vs 4-point avg 6.72× (−43%)
2.94× low6.72× avg10.36× high
History points are balance-sheet dates (2024 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹1,851 Cr+48%
Net worth₹1,595 Cr+51%
Total borrowings₹127 Cr+253%
Cash & bank balances₹86 Cr−8%
Investments₹0 Cr
Inventories₹145 Cr+48%
Trade receivables₹425 Cr+30%
Trade payables₹63 Cr−47%
Change vs the same date a year earlier.
Shareholding 30 Jun 2026
%Jun 26Mar 26Mar 26Mar 26Feb 26Feb 26Dec 25Dec 25Sept 25Jun 25May 25Apr 25
Promoter53.5154.3953.9953.5153.1753.9254.8754.3754.8554.8554.8555.78
FII5.046.027.487.587.887.337.947.928.338.208.656.98
DII0.950.890.830.840.860.870.800.790.840.860.831.06
of which MF0.110.110.120.120.120.130.140.130.130.13––
Retail23.8922.6721.7321.9621.7821.7420.2219.9521.0421.6421.5021.85
Other public16.6116.0315.9716.1116.3116.1416.1716.9714.9414.4514.1714.33
83,997 shareholders · NSE shareholding pattern filings.