Munish Forge
- Market cap
- ₹ 193 Cr.
- P/E
- 19.1x
- P/B
- 1.58x
- 52-week range
- 50.2 – 134.95
- ROE
- 11%
- ROCE
- 12%
- Dividend yield
- 0%
- Debt / equity
- 0.45
- Sector
- Industrial Products
- Industry
- Castings & Forgings
- Listed on
- NSE SME
About
Munish Forge Limited is an India-based company, which specializes in manufacturing forged and cast components. The Company manufactures components like flanges, scaffolding, auto parts, tank tracks chains, bomb shells, fence post and steel accessories as per customer specifications and International Standard catering to the requirements of Indian Army and various industries such as defense, oil and gas, automobile, construction and infrastructure. It produces and distributes flanges under Munish & Arjun brands. Its flanges include lap joint, reducing flange, socket weld, blind, threaded, slip on and weld neck. The Company's scaffolding products include scaffolding fittings, scaffolding systems, staircase towers, formwork accessories, steel planks/boards, and props and jacks. Its auto parts include ground engaging tools (GET), chassis parts, jack and tractor parts. Its auto - under chassis suspension parts include U-bolts, center bolts, shackle pins, and cotter pins.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Castings & Forgings: 30 companies →Munish Forge 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
- Share price, 3 months+1.5% against a typical −0.5%.13th of 28
- Size₹ 192.6 Cr. market value against a typical ₹ 208.1 Cr. (1st = largest).16th 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
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Withdrawn | — | 29 Sep 2026 |
Every agency has withdrawn its rating.
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 29 Sep 2026 | Withdrawn | — | — | CRISIL | ₹ 54.4 Cr. | |
| 24 Dec 2025 | Reaffirmed | Crisil D(Issuer Not Cooperating) | — | CRISIL | ₹ 54.4 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 29 Aug 2026 | Other business matters | To consider other business matters |
| 29 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 |
| 20 Nov 2025 | Financial Results | MUNISH : 20-Nov-2025 : The Company has informed the Exchange that a Board meeting to be held on November 14, 2025 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on November 20, 2025, To consider and approve the financial results for the period ended September 30, 2025 |
| 14 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 90 | 83 | 100 |
| Expenses | 77 | 70 | 91 |
| Operating Profit | 13 | 13 | 9 |
| OPM % | 15% | 15% | 9% |
| Other Income | 2 | 1 | 1 |
| Interest | 3 | 3 | 3 |
| Depreciation | 2 | 2 | 2 |
| Profit before tax | 11 | 8 | 5 |
| Tax % | 27% | 13% | 27% |
| Net Profit | 8 | 7 | 3 |
| EPS in Rs | 4.48 | 4.02 | 1.42 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 20%
- 3 Years
- 4%
- TTM
- 4%
- 10 Years
- —
- 5 Years
- 128%
- 3 Years
- 75%
- TTM
- −27%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- 13%
- 3 Years
- 16%
- 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.
| Munish Forge | ₹ 82.20 | ₹ 193 Cr. | 19.1x | 1.6x | 11% | — |
| Bharat Forge | ₹ 1,709.60 | ₹ 81,734 Cr. | 73.6x | 9x | — | 4.2% |
| Havells India | ₹ 1,032.00 | ₹ 64,764 Cr. | 40.9x | 7.3x | — | 6.9% |
| Schaeffler India | ₹ 3,468.00 | ₹ 54,379 Cr. | 49.1x | 9.4x | 21.6% | 11.9% |
| Sterlite Technologies | ₹ 829.00 | ₹ 42,603 Cr. | 816.6x | 19.1x | — | 4.3% |
| R R Kabel | ₹ 2,150.60 | ₹ 26,329 Cr. | 53.4x | 10.5x | — | 5.6% |
Management
- Dev Arjun Bhasin
- Chief Executive Officer, Executive Director
- Manoj Pandey
- Chief Financial Officer
- Sukhdeep Kaur
- Compliance Officer, Company Secretary
- Davinder Kumar Bhasin
- Managing Director, Executive Director
- Vishal Anand
- Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.