GANGAFORGE

Ganga Forging Limited

Ganga Forging Limited (GANGAFORGE) financial statements and selected valuation metrics through 30 June 2026.

Industrials›Capital Goods›Industrial Products›Castings & Forgings

gangaforging.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1.45
Market cap
49 Cr
Stock P/E
Loss (TTM EPS ₹-0.17)
P/B
0.69
ROE (FY26)
-12.8%
ROCE (FY26)
-5.7%
Operating margin (FY26)
-9.3%
Debt / equity (FY26)
0.71

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Ganga Forging Limited makes closed-die forged products at its works near Rajkot in Gujarat, and reports them as a single business segment.

Company snapshot

10thBy market cap

Ranked among 10 companies in Castings & Forgings.

What we see

Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales9 Cr9 Cr10 Cr9 Cr12 Cr12 Cr12 Cr8 Cr8 Cr9 Cr11 Cr7 Cr
Operating expenses (approx.)8 Cr8 Cr9 Cr8 Cr11 Cr11 Cr11 Cr8 Cr11 Cr8 Cr11 Cr7 Cr
EBITDA0.54 Cr0.64 Cr0.79 Cr0.60 Cr0.58 Cr0.49 Cr0.58 Cr-0.06 Cr-2 Cr0.40 Cr-0.10 Cr0.67 Cr
OPM %6.3%7.5%7.7%7.0%5.1%4.2%5.1%-0.8%-28.4%4.5%-0.9%9.3%
Other income0.03 Cr0.0099 Cr0.06 Cr0.19 Cr0.15 Cr0.31 Cr-0.43 Cr0.01 Cr0.01 Cr0.12 Cr0.03 Cr0.14 Cr
Interest0.18 Cr0.22 Cr0.29 Cr0.29 Cr0.23 Cr0.22 Cr0.22 Cr0.23 Cr0.23 Cr0.19 Cr0.28 Cr0.21 Cr
Depreciation0.22 Cr0.22 Cr0.34 Cr0.25 Cr0.27 Cr0.27 Cr0.29 Cr0.27 Cr0.28 Cr0.28 Cr0.35 Cr0.29 Cr
Profit before tax0.17 Cr0.21 Cr0.24 Cr0.25 Cr0.24 Cr0.31 Cr0.06 Cr-0.20 Cr-3 Cr0.05 Cr-0.69 Cr0.96 Cr
Tax %-32.3%-6.9%108.9%19.4%-13.0%13.3%338.3%-47.2%-3.5%13.2%32.9%-10.1%
Net profit0.22 Cr0.23 Cr-0.02 Cr0.20 Cr0.28 Cr0.27 Cr-0.15 Cr-0.29 Cr-3 Cr0.04 Cr-0.46 Cr1 Cr
EPS (₹)₹0.02₹0.02₹0.00₹0.01₹0.02₹0.02₹-0.01₹-0.02₹-0.22₹0.00₹-0.03₹0.08

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales18 Cr23 Cr29 Cr33 Cr37 Cr43 Cr36 CrSign in free for the trailing twelve months
Operating expenses (approx.)16 Cr21 Cr26 Cr31 Cr35 Cr41 Cr38 CrSign in free for the trailing twelve months
EBITDA2 Cr2 Cr3 Cr2 Cr2 Cr2 Cr-2 CrSign in free for the trailing twelve months
OPM %9.3%7.4%8.9%6.0%6.7%5.2%-5.9%Sign in free for the trailing twelve months
Other income0.01 Cr0.14 Cr0.52 Cr0.08 Cr0.09 Cr0.23 Cr0.17 CrSign in free for the trailing twelve months
Interest0.60 Cr0.79 Cr0.95 Cr0.81 Cr0.85 Cr0.96 Cr0.93 CrSign in free for the trailing twelve months
Depreciation0.50 Cr0.87 Cr0.88 Cr0.88 Cr1.00 Cr1 Cr1 CrSign in free for the trailing twelve months
Profit before tax0.57 Cr0.13 Cr2 Cr0.88 Cr0.75 Cr0.87 Cr-4 CrSign in free for the trailing twelve months
Tax %14.3%-88.2%47.6%-88.0%41.2%29.2%0.8%Sign in free for the trailing twelve months
Net profit0.48 Cr0.25 Cr1 Cr2 Cr0.44 Cr0.61 Cr-4 CrSign in free for the trailing twelve months
EPS (₹)—₹0.02₹0.10₹0.16₹0.04₹0.05₹-0.27Sign in free for the trailing twelve months
Dividend payout %——0.0%0.0%0.0%0.0%—Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital0.35 Cr11 Cr11 Cr11 Cr13 Cr13 Cr13 Cr
Reserves4 Cr0.12 Cr1 Cr3 Cr18 Cr19 Cr15 Cr
Borrowings6 Cr11 Cr12 Cr14 Cr10 Cr17 Cr20 Cr
Other liabilities5 Cr10 Cr8 Cr7 Cr5 Cr10 Cr12 Cr
Total liabilities15 Cr31 Cr31 Cr35 Cr46 Cr59 Cr60 Cr
Fixed assets (net)6 Cr15 Cr14 Cr16 Cr16 Cr18 Cr17 Cr
CWIP—0 Cr2 Cr0.75 Cr0 Cr0.39 Cr0.02 Cr
Investments———0 Cr0 Cr0 Cr0 Cr
Loans & advances———0.03 Cr0.03 Cr0.02 Cr0.03 Cr
Inventories3 Cr8 Cr9 Cr11 Cr16 Cr19 Cr19 Cr
Trade receivables5 Cr7 Cr5 Cr6 Cr8 Cr8 Cr6 Cr
Cash & bank0.18 Cr0.19 Cr0.01 Cr0.18 Cr0.86 Cr0.32 Cr0.12 Cr
Other assets0.27 Cr1 Cr1 Cr1 Cr4 Cr13 Cr18 Cr
Total assets15 Cr31 Cr31 Cr35 Cr46 Cr59 Cr60 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity0.50 Cr2 Cr1 Cr-1 Cr-11 Cr-4 Cr0.36 Cr
Cash from investing-2 Cr-0.03 Cr-2 Cr-0.56 Cr-1 Cr-2 Cr-3 Cr
Cash from financing1 Cr-2 Cr0.19 Cr2 Cr12 Cr6 Cr3 Cr
Net cash flow0.10 Cr0.12 Cr-0.17 Cr0.17 Cr0.68 Cr-0.53 Cr-0.20 Cr
Free cash flow (OCF − Capex)-1 Cr1 Cr-1 Cr-2 Cr-12 Cr-7 Cr-3 Cr

Ratios

MetricMar 2017Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.3%4.4%12.5%6.1%3.9%3.7%-5.7%
ROE %12.3%2.4%8.9%12.4%1.4%1.9%-12.8%
Debtor days1101146162836758
Inventory days81195163174221213262
Days payable9217679722770114
Cash conversion cycle99134145164278210206
OCF / EBITDA %30.3%116.7%52.1%-54.7%-425.9%-182.2%—
OCF / EBITDA % (3 years)———35.6%-148.0%-234.8%n.m.
Debt / equity1.630.981.001.070.320.520.71
Current ratio1.081.071.191.162.411.601.38
Net debt / EBITDA3.776.09—7.093.667.20—