Ganga Forging Ltd. (GANGAFORGE) AI Stock Analysis

• Market Cap: ₹354.53M
• Dividend Yield: N/A
• Average Volume (3M): 342.05K
• Price to Earnings (P/E): 307.9
• Beta (1Y): 1.16
• Revenue Growth: 1.05%
• EPS Growth: -531.16%
• Country: IN
• Employees: 43
• Sector: Industrials
• Sector Strength: 72
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): <0.01
• Shares Outstanding: 134,802,230
• 10 Day Avg. Volume: 688,212
• 30 Day Avg. Volume: 342,046
• PEG Ratio: 7.17
• Price to Book (P/B): 1.88
• Price to Sales (P/S): 1.40
• P/FCF Ratio: -7.84
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: ₹2.50 ▼(-28.16% Downside)
• Action: Reiterated Date: 01/24/26
• Date: Action: Reiterated 01/24/26

The score is driven mainly by solid revenue growth and a stable balance sheet, offset by weak cash-flow conversion (negative operating/free cash flow) and modest profitability. Technicals are mixed with slightly negative momentum, and valuation signals are constrained by a negative P/E and no dividend yield.

Positive Factors

Revenue Growth

A reported 16.12% revenue increase signals expanding demand or market share in the forging segment. Durable top-line growth supports capacity utilization, scale benefits and longer-term customer relationships, underpinning sustainable operational investment decisions.

Negative Factors

Negative Cash Flow

Negative operating and free cash flows indicate the business is not converting accounting profits into usable cash. This erodes liquidity, may force external financing or delay capex, and raises risk for sustaining operations and supplier/customer commitments over coming quarters.

Ganga Forging Ltd. Business Overview & Revenue Model

Company Description

Ganga Forging Limited engages in the manufacture and sale of steel forging parts in India. It offers forged crankshafts, crankshaft single and double cylinders, straight and incline connecting rods, forged and big yokes, pins and shafts, spiders/c...

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Ganga Forging Limited engages in the manufacture and sale of steel forging parts in India. It offers forged crankshafts, crankshaft single and double cylinders, straight and incline connecting rods, forged and big yokes, pins and shafts, spiders/c...

How the Company Makes Money

The company makes money by manufacturing and selling forged components to customers (primarily B2B). Revenue is generated from the sale of these products, typically under customer purchase orders or supply arrangements, with pricing driven by fact...

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The company makes money by manufacturing and selling forged components to customers (primarily B2B). Revenue is generated from the sale of these products, typically under customer purchase orders or supply arrangements, with pricing driven by fact...

Ganga Forging Ltd. Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	392.12M	432.19M	372.12M	334.10M	288.32M	225.81M
Gross Profit	89.29M	114.31M	34.50M	110.40M	104.04M	48.12M
EBITDA	-10.25M	29.02M	26.02M	25.66M	38.03M	17.54M
Net Income	-31.15M	6.13M	4.43M	16.57M	10.34M	1.07M
Balance Sheet
Total Assets	592.02M	586.83M	463.08M	347.29M	310.45M	312.01M
Cash, Cash Equivalents and Short-Term Investments	1.72M	3.24M	8.57M	1.80M	158.34K	1.86M
Total Debt	168.52M	165.82M	99.88M	142.97M	116.74M	105.36M
Total Liabilities	302.43M	264.94M	148.95M	213.95M	193.95M	190.96M
Stockholders Equity	289.59M	321.89M	314.13M	133.34M	116.50M	121.05M
Cash Flow
Free Cash Flow	-3.29M	-77.10M	-118.16M	-23.60M	-11.75M	20.39M
Operating Cash Flow	4.61M	-50.64M	-106.35M	-10.89M	13.24M	30.12M
Investing Cash Flow	-4.25M	-22.14M	-11.59M	-5.60M	-16.87M	-588.58K
Financing Cash Flow	-1.88M	57.94M	124.72M	18.15M	1.91M	-10.39M

Ganga Forging Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GANGAFORGE, the sentiment is Negative. The current price of 3.48 is above the 20-day moving average (MA) of 2.76, above the 50-day MA of 3.03, and above the 200-day MA of 3.44, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 41.74 is Neutral, neither overbought nor oversold. The STOCH value of 50.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GANGAFORGE.

Ganga Forging Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SONACOMS	74 Outperform	₹316.74B	49.42	―	0.65%	7.34%	2.27%
MMFL	72 Outperform	₹20.06B	24.91	―	1.07%	-4.47%	-17.62%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
KALYANIFRG	62 Neutral	₹2.16B	-483.49	―	0.62%	0.76%	17.16%
GANGAFORGE	57 Neutral	₹354.53M	307.92	―	―	1.05%	-531.16%
RKFORGE	54 Neutral	₹91.99B	174.30	―	0.38%	-4.73%	-19.52%

Ganga Forging Ltd. Corporate Events