MMFL

MM Forgings Limited

MM Forgings Limited (MMFL) financial statements and selected valuation metrics through 30 June 2026.

Consumer Discretionary›Automobile and Auto Components›Auto Components›Auto Components & Equipments

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

Price as of 2026-10-16

Stock price
₹528.25
Market cap
2,550 Cr
Stock P/E
15.1
P/B
2.61
Dividend yield
0.8%
ROE (FY26)
10.1%
ROCE (FY26)
9.4%
Operating margin (FY26)
11.1%
Debt / equity (FY26)
1.10
OCF / EBITDA (FY26)
82.0%
OCF / EBITDA (3Y)
62.7%

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

MM Forgings (MMFL) makes forged and machined steel components, selling mainly to commercial vehicle makers, with passenger vehicle and agri and off-highway customers as smaller segments, and about a third of sales going to export markets.

Company snapshot

52ndBy market cap

Ranked among 94 companies in Auto Components & Equipments.

Statement tables · Consolidated

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

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
Sales397 Cr399 Cr397 Cr382 Cr398 Cr374 Cr371 Cr362 Cr385 Cr414 Cr430 Cr410 Cr
Operating expenses (approx.)322 Cr323 Cr320 Cr309 Cr321 Cr301 Cr298 Cr298 Cr318 Cr344 Cr349 Cr346 Cr
EBITDA75 Cr75 Cr78 Cr73 Cr77 Cr73 Cr73 Cr63 Cr67 Cr69 Cr81 Cr64 Cr
OPM %18.8%18.9%19.5%19.1%19.3%19.5%19.7%17.5%17.3%16.8%18.8%15.7%
Other income4 Cr5 Cr6 Cr6 Cr7 Cr4 Cr6 Cr8 Cr4 Cr3 Cr0.67 Cr17 Cr
Interest9 Cr11 Cr13 Cr15 Cr16 Cr15 Cr14 Cr18 Cr21 Cr20 Cr18 Cr16 Cr
Depreciation21 Cr21 Cr20 Cr22 Cr23 Cr23 Cr26 Cr25 Cr24 Cr26 Cr28 Cr30 Cr
Profit before tax50 Cr49 Cr50 Cr42 Cr45 Cr39 Cr40 Cr28 Cr25 Cr26 Cr35 Cr91 Cr
Tax %28.7%31.4%27.0%28.5%28.9%31.1%17.1%30.7%33.9%32.6%-26.4%1.0%
Net profit35 Cr34 Cr37 Cr30 Cr32 Cr27 Cr33 Cr19 Cr17 Cr18 Cr45 Cr90 Cr
EPS (₹)₹14.69₹13.90₹15.24₹12.47₹6.61₹5.50₹6.90₹3.97₹3.43₹3.64₹9.27₹18.73

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales492 Cr639 Cr934 Cr769 Cr744 Cr1,123 Cr1,462 Cr1,563 Cr1,525 Cr1,590 CrSign in free for the trailing twelve months
Operating expenses (approx.)399 Cr509 Cr754 Cr637 Cr617 Cr931 Cr1,189 Cr1,270 Cr1,229 Cr1,310 CrSign in free for the trailing twelve months
EBITDA92 Cr130 Cr180 Cr132 Cr127 Cr192 Cr273 Cr293 Cr296 Cr280 CrSign in free for the trailing twelve months
OPM %18.8%20.4%19.2%17.2%17.1%17.1%18.7%18.7%19.4%17.6%Sign in free for the trailing twelve months
Other income11 Cr12 Cr16 Cr19 Cr18 Cr31 Cr12 Cr20 Cr23 Cr16 CrSign in free for the trailing twelve months
Interest13 Cr13 Cr32 Cr38 Cr31 Cr28 Cr30 Cr43 Cr60 Cr78 CrSign in free for the trailing twelve months
Depreciation44 Cr46 Cr58 Cr60 Cr63 Cr68 Cr79 Cr83 Cr93 Cr103 CrSign in free for the trailing twelve months
Profit before tax47 Cr74 Cr106 Cr53 Cr52 Cr129 Cr177 Cr189 Cr166 Cr115 CrSign in free for the trailing twelve months
Tax %25.1%18.3%25.7%21.1%10.5%13.9%27.7%28.8%26.5%14.1%Sign in free for the trailing twelve months
Net profit35 Cr61 Cr79 Cr42 Cr47 Cr111 Cr128 Cr135 Cr122 Cr99 CrSign in free for the trailing twelve months
EPS (₹)₹28.94₹50.20₹32.66₹17.37₹19.35₹45.98₹53.00₹55.84₹25.24₹20.44Sign in free for the trailing twelve months
Dividend payout %————4.5%13.1%11.3%10.7%15.8%19.6%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 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital14 Cr12 Cr24 Cr24 Cr24 Cr24 Cr24 Cr24 Cr48 Cr48 Cr
Reserves304 Cr351 Cr403 Cr433 Cr463 Cr535 Cr649 Cr765 Cr844 Cr929 Cr
Borrowings211 Cr345 Cr634 Cr492 Cr532 Cr596 Cr654 Cr804 Cr1,051 Cr1,074 Cr
Other liabilities125 Cr130 Cr160 Cr185 Cr248 Cr274 Cr336 Cr368 Cr426 Cr472 Cr
Total liabilities653 Cr838 Cr1,221 Cr1,134 Cr1,267 Cr1,430 Cr1,664 Cr1,961 Cr2,370 Cr2,524 Cr
Fixed assets (net)372 Cr406 Cr691 Cr725 Cr693 Cr745 Cr804 Cr914 Cr964 Cr1,101 Cr
CWIP14 Cr27 Cr————63 Cr124 Cr383 Cr337 Cr
Investments0.17 Cr3 Cr3 Cr3 Cr3 Cr22 Cr22 Cr23 Cr4 Cr10 Cr
Loans & advances——42 Cr26 Cr29 Cr31 Cr10 Cr36 Cr33 Cr42 Cr
Inventories73 Cr130 Cr195 Cr134 Cr179 Cr204 Cr316 Cr345 Cr342 Cr334 Cr
Trade receivables21 Cr63 Cr90 Cr21 Cr133 Cr172 Cr202 Cr275 Cr373 Cr457 Cr
Cash & bank134 Cr164 Cr172 Cr176 Cr187 Cr226 Cr218 Cr209 Cr217 Cr225 Cr
Other assets40 Cr45 Cr28 Cr50 Cr43 Cr29 Cr28 Cr35 Cr53 Cr20 Cr
Total assets653 Cr838 Cr1,221 Cr1,134 Cr1,267 Cr1,430 Cr1,664 Cr1,961 Cr2,370 Cr2,524 Cr

Cash flows

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity118 Cr4 Cr65 Cr—20 Cr151 Cr167 Cr131 Cr183 Cr230 Cr
Cash from investing-75 Cr-86 Cr-301 Cr—-11 Cr-126 Cr-185 Cr-232 Cr-358 Cr-181 Cr
Cash from financing-30 Cr112 Cr244 Cr—4 Cr13 Cr11 Cr94 Cr183 Cr-41 Cr
Net cash flow13 Cr30 Cr8 Cr—12 Cr39 Cr-8 Cr-6 Cr8 Cr8 Cr
Free cash flow (OCF − Capex)32 Cr-98 Cr-250 Cr—20 Cr151 Cr167 Cr131 Cr183 Cr230 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.2%12.4%13.0%9.6%8.2%13.6%15.6%14.6%11.6%9.4%
ROE %11.0%16.7%18.5%9.2%9.6%19.8%19.0%17.1%13.7%10.1%
Debtor days153635106556506489105
Inventory days138165156145199141154162188191
Days payable6587468313289837598129
Cash conversion cycle8811314471133108121151179166
OCF / EBITDA %128.0%3.3%36.0%—15.5%78.8%61.1%44.8%62.0%82.0%
OCF / EBITDA % (3 years)——46.6%———57.0%59.3%55.9%62.7%
Debt / equity0.660.951.481.081.091.060.971.021.181.10
Current ratio1.301.421.401.151.171.301.201.171.221.18
Net debt / EBITDA0.831.392.572.392.711.931.602.032.823.03