M M Forgings Limited share price
NSE: MMFL · ISIN INE227C01017
Key numbers
- Market cap
- ₹ 2,975 Cr
- Current price
- ₹ 616.15
- 52-week high / low
- ₹ 688 / 288
- Stock P/E
- 17.5
- Book value
- ₹ 202.0
- Dividend yield
- 1.30%
- ROCE
- 9.0%
- ROE
- 10.6%
- Debt to equity
- 1.27
- Sales growth (3 yrs)
- 2.8%
- Profit growth (3 yrs)
- -8.3%
- 1-year return
- 87.7%
About M M Forgings Limited
M M Forgings Limited, together with its subsidiaries, manufactures and sells steel forgings in India. It offers sprocket, flange housing, connecting rod, connecting rod integral, rail forging, hub, knuckle, front axle beam, universal joint cross, steering and pivot arm, planetary wheel carrier, upper arm shaft, shifter fork, and rear axle spindle. The company also provides yoke shaft, double yoke, crankshaft, link, yoke, fit yoke, lever, and high pressure valves, such as body and bonnet. Its products are used for passenger cars, commercial vehicles, off highway vehicles, value/oilfield, agriculture, and engineering components. The company offers its products to commercial vehicle, passenger vehicle, tractor OEs, and others customers. It exports its products. The company was formerly known as The Madras Motors Ltd and changed its name to M M Forgings Limited in 1993. M M Forgings Limited was founded in 1945 and is based in Chennai, India.
Quarterly results
Consolidated figures in ₹ crores
| Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|
| Sales | 351 | 378 | 412 | 429 | 410 |
| Operating profit | 63 | 67 | 69 | 81 | 75 |
| Net profit | 19 | 17 | 18 | 45 | 34 |
| EPS (₹) | 3.98 | 3.43 | 3.64 | 9.27 | 18.73 |
Concall summary (2026-08-21)
AI summary of the earnings call transcript · tone: Positive · source document
Guidance & outlook
- We can expect the same 18%-odd growth for this year also.
- Last year, FY26 opening, the debt was around INR750 crores net debt, term debt, at least.
Growth & demand
- We've seen growth in the U.S. market, and also the CV market, the CV tractor and past car market in India are all running pretty hot.
- Second question, sir, I remember seeing some interview of 2 months back on one of the media channels where you said, subject to any QIP, you might want to do a INR400 crores growth capex.
Margins & costs
- Our EBITDA stands at INR82 crores, and INR75 crores net of other income at 18% as against 19%-odd Considering other income.
- In last 2, 3 calls, you had consistently said that we have taken some cost-saving measures in terms of saving the power and fuel cost, in terms of interest cost as well as labor cost by putting robotics.
Capex & expansion
- And overall, in terms of, let's say, capex, we've done a huge capex taken already.
- Roughly about INR30 crores to INR50 crores would be up to INR50 crores will be replacement capex.
Balance sheet & cash
- So gross debt will remain at the approximately the same levels.
- INR750 crores to INR800 crores is gross debt levels will stand at this point of time.
Peers in Metal Fabrication
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