Balu Forge Industries Ltd (IN:BALUFORGE)
:BALUFORGE
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Balu Forge Industries Ltd
(BALUFORGE)
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Rating:66Neutral
Price Target:
₹586.00
▲(0.42% Upside)
Action:ReiteratedDate:01/31/26
The score is driven primarily by strong financial performance (rapid revenue and margin improvement supported by a solid, low-leverage balance sheet), offset by weak technical conditions (price below all key moving averages with negative MACD). Valuation is moderate with a supportive dividend yield, but volatile/negative free cash flow reduces overall confidence.
Positive Factors
Revenue Growth
Sustained multi-year revenue expansion indicates durable demand for forged components and successful commercial execution in B2B markets. Higher scale supports bargaining power with suppliers, spreads fixed costs, and creates a structural base for continued margin and cash generation improvement.
Negative Factors
Volatile Free Cash Flow
Negative and volatile free cash flow driven by heavy capex limits the company's ability to self-finance growth or return cash to shareholders. Persistent FCF volatility raises reliance on external financing and increases execution risk if revenue or margin momentum softens.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained multi-year revenue expansion indicates durable demand for forged components and successful commercial execution in B2B markets. Higher scale supports bargaining power with suppliers, spreads fixed costs, and creates a structural base for continued margin and cash generation improvement.
Read all positive factors
Balu Forge Industries Ltd (BALUFORGE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹61.80B
Dividend Yield0.02%
Average Volume (3M)25.83K
Price to Earnings (P/E)23.6
Beta (1Y)1.88
Revenue Growth26.39%
EPS Growth28.11%
CountryIN
Employees700
SectorIndustrials
Sector Strength72
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)6.18
Shares Outstanding113,991,900
10 Day Avg. Volume35,627
30 Day Avg. Volume25,826
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)6.29
Price to Sales (P/S)7.17
P/FCF Ratio-24.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)31.5
Revenue Forecast (FY)₹16.31B
Balu Forge Industries Ltd Business Overview & Revenue Model
Company Description
Balu Forge Industries Limited manufactures and sells crankshafts in India and internationally. The company also offers railway wheels, under carriages, transmission and clutches, chassis, hydraulic motors, brake parts, hooks, towing accessories, t...
How the Company Makes Money
Balu Forge Industries Ltd primarily makes money by manufacturing and selling forged components to business customers (B2B). Revenue is generated from (1) sale of forged parts produced to customer specifications, where pricing is typically driven b...
Balu Forge Industries Ltd Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.58B | 9.24B | 5.53B | 3.27B | 2.76B | 1.38B |
| Gross Profit | 3.62B | 3.21B | 1.62B | 904.77M | 556.63M | 292.45M |
| EBITDA | 3.16B | 2.68B | 1.25B | 624.24M | 453.73M | 174.68M |
| Net Income | 2.44B | 2.04B | 936.73M | 389.13M | 298.44M | 76.19M |
Balance Sheet | ||||||
| Total Assets | 15.24B | 12.52B | 7.12B | 3.71B | 2.84B | 1.71B |
| Cash, Cash Equivalents and Short-Term Investments | 378.19M | 1.03B | 908.64M | 78.89M | 71.10M | 30.62M |
| Total Debt | 815.35M | 397.84M | 487.91M | 518.72M | 473.93M | 259.96M |
| Total Liabilities | 2.75B | 1.99B | 1.59B | 1.73B | 1.26B | 938.50M |
| Stockholders Equity | 12.49B | 10.53B | 5.53B | 1.98B | 1.59B | 775.12M |
Cash Flow | ||||||
| Free Cash Flow | -1.50B | -2.68B | -1.66B | 49.09M | -654.07M | 140.96M |
| Operating Cash Flow | 403.60M | 1.48B | -179.74M | 261.57M | -577.37M | 173.28M |
| Investing Cash Flow | -1.91B | -4.17B | -1.48B | -212.48M | -76.70M | -32.31M |
| Financing Cash Flow | 919.94M | 2.74B | 2.49B | -56.81M | 689.57M | -118.56M |
Balu Forge Industries Ltd Technical Analysis
Neutral
583.55
Price Trends
459.77
Positive
509.94
Negative
576.08
Negative
Market Momentum
6.17
Negative
58.79
Neutral
92.16
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BALUFORGE, the sentiment is Neutral. The current price of 583.55 is above the 20-day moving average (MA) of 445.62, above the 50-day MA of 459.77, and above the 200-day MA of 576.08, indicating a neutral trend. The MACD of 6.17 indicates Negative momentum. The RSI at 58.79 is Neutral, neither overbought nor oversold. The STOCH value of 92.16 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:BALUFORGE.
Balu Forge Industries Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ₹39.76B | 1.84 | ― | ― | -5.52% | 337.59% | |
72 Outperform | ₹23.84B | 24.91 | ― | 1.07% | -1.36% | -30.57% | |
66 Neutral | ₹61.80B | 23.59 | ― | 0.02% | 26.39% | 28.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ₹5.62B | 52.14 | ― | ― | 22.79% | -38.88% | |
60 Neutral | ₹1.18B | 13.74 | ― | ― | 47.79% | 247.18% | |
57 Neutral | ₹390.93M | 307.92 | ― | ― | -13.12% | -563.06% |
* Industrials Sector Average
IN:BALUFORGE
Balu Forge Industries Ltd
542.15
-11.47
-2.07%
IN:GANGAFORGE
Ganga Forging Ltd.
2.90
-2.14
-42.46%
IN:HILTON
Hilton Metal Forging Limited
22.93
-30.11
-56.77%
IN:MMFL
MM Forgings Limited
493.75
150.80
43.97%
IN:ROLEXRINGS
Rolex Rings Limited
146.00
16.08
12.38%
IN:TIRUPATIFL
Tirupati Forge Ltd.
44.36
13.22
42.45%
Balu Forge Industries Ltd Corporate Events
Balu Forge Schedules Karnataka Plant Visit for Analysts and Institutional Investors
Apr 12, 2026
Balu Forge Industries Limited has scheduled a plant visit to its Hattargi and Belgaum facilities in Karnataka on April 16, 2026 for analysts and institutional investors, including representatives from Kitara Capital and Taurus Mutual Fund. The vis...
Balu Forge Files SEBI Dematerialisation Compliance Certificate for March Quarter
Apr 9, 2026
Balu Forge Industries Ltd has submitted a confirmation certificate from its registrar and share transfer agent, Skyline Financial Services, for the quarter ended 31 March 2026 under Regulation 74(5) of the SEBI (Depositories and Participants) Regu...
Balu Forge Raises Rs 46 Crore via Conversion of Preferential Warrants
Mar 9, 2026
Balu Forge Industries Ltd, an engineering and forging specialist listed on BSE and NSE, manufactures high-precision components for automotive and industrial customers. Its capital-market access enables the company to support growth initiatives and...
Balu Forge Raises Rs 55.62 Crore via Conversion of Preferential Warrants
Mar 6, 2026
Balu Forge Industries Limited has allotted 2,060,000 equity shares of Rs. 10 each at an issue price of Rs. 360 per share following the conversion of an equivalent number of convertible warrants on March 6, 2026. The shares were allotted on a 1:1 b...
Balu Forge’s Bank Facilities Upgraded by ICRA, Strengthening Credit Profile
Feb 10, 2026
Balu Forge Industries Limited has received upgraded credit ratings from ICRA for its bank facilities totaling Rs. 231 crore, including term loans, working capital lines and non-fund-based limits. The long-term facilities are now rated [ICRA]A-(Sta...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.