Balu Forge Industries
- Market cap
- ₹ 5,144 Cr.
- P/E
- 19.1x
- P/B
- 3.37x
- 52-week range
- 341.05 – 667
- ROE
- 20%
- ROCE
- 23%
- Dividend yield
- 0%
- Debt / equity
- 0.1
- Sector
- Industrial Products
- Industry
- Castings & Forgings
- Listed on
- NSE, BSE
About
Balu Forge Industries Limited is an India-based manufacturer and supplier of precision-engineered products, crankshafts, and forging components. The Company provides products across industries. In engine applications, it offers camshafts, connecting rods, and rocker arms. Railway applications include railway wheels, axles, and wheel sets, while transmission & clutches feature drive shafts, input & output shafts, main shafts, and yokes. Chassis components cover front axle beams, steering knuckles, control arms, forks, and steering. Turbine blades include raw forged, semi finished, fully finished, or assembled. Oil, gas & flow control includes stainless steel flanges, valve components, stub ends, and forged hydraulic fittings. Hydraulic motors include rotor, track, and body & piston brakes. Brake parts include hub, brake flange, disc, and caliper. Hooks include sorting, snap, shank, and ramshorn lifting hooks. Towing accessories include swan necks, flange balls, and tow bar.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Castings & Forgings: 30 companies →Balu Forge Industries against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)19.1 against a typical 24.8: cheaper than most peers (1st = cheapest).11th of 30
- Sales growth+29.2% against a typical +8% from a year earlier.5th of 23
- Profit growth+15.8% against a typical +4.9% from a year earlier.10th of 22
- Share price, 3 months−0.1% against a typical −0.8%.14th of 28
- Size₹ 5,143.8 Cr. market value against a typical ₹ 208.1 Cr. (1st = largest).4th of 30
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A- by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Withdrawn | — | 27 Feb 2026 |
| ICRA | [ICRA]A- /[ICRA]A2+ | Stable | 9 Feb 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 27 Feb 2026 | Withdrawn | — | — | CRISIL | ₹ 76 Cr. | |
| 9 Feb 2026 | Reaffirmed | [ICRA]A- /[ICRA]A2+ | — | ICRA | ₹ 231 Cr. | |
| 3 Feb 2026 | New rating | [ICRA]A- /[ICRA]A2+ | — | ICRA | ₹ 25 Cr. | |
| 16 Jan 2026 | Reaffirmed | Crisil BBB+ | — | CRISIL | ₹ 76 Cr. | |
| 27 Nov 2025 | Rating action | Crisil BBB+ | — | CRISIL | ₹ 76 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 7 Sep 2026 | Dividend/Other business matters | To consider dividend and other business matters |
| 12 Aug 2026 | Financial Results/Fund Raising/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026, Fund Raising and other business matters |
| 30 May 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2026 and other business matters |
| 12 Feb 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended December 31, 2025 and other business matters |
| 14 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 7 Aug 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2025 and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 139 | 147 | 161 | 175 | 223 | 256 | 270 | 233 | 300 | 311 | 264 | 301 |
| Expenses | 109 | 114 | 127 | 132 | 158 | 188 | 195 | 161 | 217 | 227 | 204 | 216 |
| Operating Profit | 30 | 33 | 34 | 43 | 65 | 68 | 75 | 72 | 83 | 85 | 60 | 85 |
| OPM % | 22% | 22% | 21% | 25% | 29% | 26% | 28% | 31% | 28% | 27% | 23% | 28% |
| Other Income | 4 | 2 | 4 | 1 | 2 | 10 | 4 | 2 | 3 | 4 | 23 | 4 |
| Interest | 4 | 4 | 4 | 2 | 3 | 2 | 4 | 2 | 4 | 5 | 5 | 5 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 |
| Profit before tax | 30 | 30 | 35 | 42 | 64 | 74 | 74 | 70 | 80 | 81 | 75 | 81 |
| Tax % | 22% | 16% | 18% | 18% | 25% | 20% | 15% | 19% | 19% | 12% | 13% | 18% |
| Net Profit | 23 | 25 | 28 | 34 | 48 | 59 | 63 | 57 | 65 | 71 | 66 | 66 |
| EPS in Rs | 2.32 | 2.46 | 2.76 | 3.33 | 4.39 | 5.39 | 5.73 | 5 | 5.71 | 6.18 | 5.42 | 5.44 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 51%
- 3 Years
- 50%
- TTM
- 20%
- 10 Years
- —
- 5 Years
- 102%
- 3 Years
- 88%
- TTM
- 18%
- 10 Years
- 30%
- 5 Years
- 16%
- 3 Years
- 45%
- TTM
- —
- 10 Years
- —
- 5 Years
- 22%
- 3 Years
- 22%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Balu Forge Industries | ₹ 443.75 | ₹ 5,144 Cr. | 19.1x | 3.4x | 20% | — |
| Maruti Suzuki India | ₹ 11,258.95 | ₹ 3,53,984 Cr. | 29.6x | 4.1x | 14.4% | 8% |
| Eicher Motors | ₹ 7,050.00 | ₹ 1,93,538 Cr. | 37.4x | 8.3x | 23.8% | 23.6% |
| Hyundai Motor India | ₹ 1,850.00 | ₹ 1,50,320 Cr. | 29.8x | 8.1x | 29.9% | 7.7% |
| Tata Motors | ₹ 398.00 | ₹ 1,46,575 Cr. | 38.6x | 12x | — | 3.6% |
| Ashok Leyland | ₹ 145.95 | ₹ 85,729 Cr. | 19.7x | 6.4x | 26.2% | 6.6% |
Management
- Jaspalsingh Prehladsingh Chandock
- Chairman of the Board, Managing Director
- Sandeep Singh Chaddha
- Interim Chief Financial Officer
- Tabassum Begum
- Compliance Officer, Company Secretary
- Jaikaran Chandock
- Whole Time Director
- Trimaan Chandock
- Whole Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.