Ganga Forging Ltd. (GANGAFORGE) AI Stock Analysis

• Market Cap: ₹478.55M
• Dividend Yield: N/A
• Average Volume (3M): 467.83K
• Price to Earnings (P/E): 78.7
• Beta (1Y): 0.96
• Revenue Growth: 16.14%
• EPS Growth: -10.87%
• Country: IN
• Employees: 43
• Sector: Industrials
• Sector Strength: 84
• Industry: Manufacturing - Metal Fabrication
• EPS (TTM): -0.01
• Shares Outstanding: 134,802,230
• 10 Day Avg. Volume: 167,531
• 30 Day Avg. Volume: 467,831
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹4.00
• Price Target Upside: 16.62% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 51 Neutral
• Price Target: ₹4.00 ▲(16.62% Upside)

The overall stock score is primarily driven by financial performance, where strong revenue growth and a stable equity position are overshadowed by weak profitability and cash flow challenges. Technical analysis and valuation scores reflect bearish momentum and high valuation concerns, further impacting the stock's attractiveness.

Ganga Forging Ltd. Business Overview & Revenue Model

Company Description

Ganga Forging Ltd. (GANGAFORGE) is a leading manufacturing company specializing in the production of high-quality forged components for various industries. The company operates primarily in the automotive, agriculture, and industrial sectors, providing a diverse range of products such as crankshafts, connecting rods, and other precision-engineered components. With a focus on innovation and quality, Ganga Forging Ltd. has established itself as a trusted supplier in both domestic and international markets.

How the Company Makes Money

Ganga Forging Ltd. generates revenue through the manufacturing and sale of forged components to various industries, primarily focusing on the automotive, agriculture, and industrial sectors. The company makes money by producing and supplying high-demand components such as crankshafts and connecting rods, which are essential for the operation of machinery and vehicles. Revenue streams include direct sales to original equipment manufacturers (OEMs) and aftermarket suppliers. Additionally, Ganga Forging Ltd. may also engage in strategic partnerships and collaborations to enhance its market reach and product offerings, contributing to its earnings.

Ganga Forging Ltd. Financial Statement Overview

Summary

Ganga Forging Ltd. shows strong revenue growth and a stable equity position. However, it faces challenges in profitability margins and cash flow management. The balance sheet is stable with a healthy equity ratio, but improvements in operational efficiency and cash flow strategies are needed.

Income Statement

Ganga Forging Ltd. has shown a consistent increase in total revenue over the years, with a notable revenue growth rate of 16.12% from 2024 to 2025. The gross profit margin improved significantly in 2025, reaching 26.45%, indicating efficient production processes. However, the EBIT margin has declined from previous years, and the net profit margin is modest at 1.42%, suggesting opportunities for improving operational efficiency and cost management.

Balance Sheet

The company maintains a reasonable debt-to-equity ratio of 0.51, reflecting a balanced approach to leveraging debt. The equity ratio stands at 54.86%, indicating a strong equity position relative to total assets. Return on equity (ROE) is relatively low at 1.91% in 2025, highlighting room for enhancing shareholder returns. Overall, the balance sheet reflects stability, with a solid equity base and manageable debt levels.

Cash Flow

Ganga Forging faces challenges in cash flow management, with negative operating cash flow and free cash flow in 2025. The free cash flow to net income ratio is negative, indicating that net income is not translating into free cash flow. This suggests potential liquidity issues and the need for improved cash flow management strategies. Despite these challenges, the company has managed to secure financing to support its operations.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2021	Mar 2022
Income Statement
Total Revenue	432.19M	372.12M	334.10M	225.81M	279.37M
Gross Profit	114.31M	34.50M	110.40M	48.12M	64.75M
EBITDA	29.02M	26.02M	19.92M	17.90M	25.48M
Net Income	6.13M	4.43M	16.57M	1.07M	10.34M
Balance Sheet
Total Assets	586.83M	463.08M	347.29M	312.01M	310.45M
Cash, Cash Equivalents and Short-Term Investments	3.24M	8.57M	1.80M	1.86M	158.34K
Total Debt	165.82M	99.88M	142.97M	105.36M	116.74M
Total Liabilities	264.94M	148.95M	213.95M	190.96M	193.95M
Stockholders Equity	321.89M	314.13M	133.34M	121.05M	116.50M
Cash Flow
Free Cash Flow	-77.10M	-118.16M	-23.60M	20.39M	-11.75M
Operating Cash Flow	-50.64M	-106.35M	-10.89M	30.12M	13.24M
Investing Cash Flow	-22.27M	-11.59M	-5.60M	-588.58K	-16.87M
Financing Cash Flow	67.57M	124.72M	18.15M	-28.34M	1.91M

Ganga Forging Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.43
• 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 3.43 is below the 20-day moving average (MA) of 3.67, below the 50-day MA of 3.88, and below the 200-day MA of 5.47, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 32.50 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 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
Sector *	71 Outperform	¥268.19B	15.08	8.32%	2.78%	6.19%	11.06%
SONACOMS	70 Outperform	₹273.50B	46.31		0.71%	5.20%	1.76%
KALYANIFRG	68 Neutral	₹2.66B	31.98		0.42%	-0.06%	82.74%
MMFL	67 Neutral	₹14.68B	13.24		1.34%	-4.47%	-17.62%
GANGAFORGE	51 Neutral	₹478.55M	78.71		―	16.14%	-10.87%
RKFORGE	51 Neutral	₹105.62B	25.09		0.35%	0.55%	17.27%