---
title: "Techno Forge Ltd (522142) — Share Price, Financials & Analysis"
symbol: "522142"
company: "Techno Forge Ltd"
canonical: "https://tapetide.com/stocks/522142"
isin: "INE305I01018"
bse_code: "522142"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T18:26:44.072Z"
---

# Techno Forge Ltd (522142)

Canonical page: https://tapetide.com/stocks/522142

## Company

- **BSE Code:** 522142
- **ISIN:** INE305I01018
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2007-12-19
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** technoforgeindia.com

## About

Techno Forge Limited is a Canada-based company. The Company operates in forging segment.

## Latest Price

## Key Insights

### Strengths

- Debtor days have improved from 93.5 to 65.5 days.

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -27.5% over past five years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -18% | -70% | — |
| revenue growth | 67% | -22% | -27% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 3.52 | 2.16 | 2 | 2.57 | 0.69 | 0.77 | 1.6 | 1.23 | 1.39 | 1.58 | 1.93 | 2.28 |
| Expenses | 7.99 | 2.85 | 2.79 | 2.9 | 1.25 | 1.43 | 2.4 | 1.66 | 2.6 | 1.91 | 0.86 | 2.91 |
| Operating Profit | -4.47 | -0.69 | -0.79 | -0.33 | -0.56 | -0.66 | -0.8 | -0.43 | -1.21 | -0.33 | 1.07 | -0.63 |
| OPM % | -126.99 | -31.94 | -39.5 | -12.84 | -81.16 | -85.71 | -50 | -34.96 | -87.05 | -20.89 | 55.44 | -27.63 |
| Other Income | 0 | 0 | 0.12 | 0.13 | 0.08 | 0.01 | 0.06 | 0 | 1.2 | 0.01 | 0.01 | 0.08 |
| Interest | 0.88 | 0.71 | 0.73 | 0.66 | 0.66 | 0.65 | 0.65 | 0.67 | 0.67 | 0.64 | 0.57 | 0.72 |
| Depreciation | 0.32 | 0.33 | 0.33 | 0.33 | 0.3 | 0.32 | 0.32 | 0.32 | 0.31 | 0.32 | 0.32 | 0.31 |
| Profit before tax | -5.67 | -1.73 | -1.73 | -1.19 | -1.44 | -1.62 | -1.71 | -1.42 | -0.99 | -1.28 | 0.19 | -1.58 |
| Tax % | -17.99 | 30.64 | 26.01 | -46.22 | -178.47 | -32.72 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -4.66 | -2.25 | -2.18 | -0.64 | 1.13 | -1.09 | -1.71 | -1.43 | -0.99 | -1.28 | 0.2 | -1.58 |
| EPS in Rs | -10.81 | -5.22 | -5.06 | -1.48 | 2.62 | -2.53 | -3.97 | -3.32 | -2.3 | -2.97 | 0.46 | -3.67 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 20.95 | 21.62 | 26.78 | 25.26 | 22.94 | 10.64 | 6.43 | 7.44 | 5.07 | 7.18 |
| Expenses | 18.46 | 18.66 | 22.84 | 20.7 | 18.17 | 13.47 | 13.47 | 9.48 | 8.14 | 8.28 |
| Operating Profit | 2.49 | 2.96 | 3.94 | 4.56 | 4.77 | -2.83 | -7.04 | -2.04 | -3.07 | -1.1 |
| OPM % | 11.89 | 13.69 | 14.71 | 18.05 | 20.79 | -26.6 | -109.49 | -27.42 | -60.55 | -15.32 |
| Other Income | 0.44 | 0.61 | 0.04 | 0.14 | 0.28 | 0.35 | 2.61 | -0.11 | 1.44 | 1.3 |
| Interest | 1.7 | 1.56 | 1.67 | 2.23 | 2.66 | 3.29 | 3.45 | 2.77 | 2.65 | 2.6 |
| Depreciation | 0.65 | 0.77 | 0.79 | 0.94 | 1.17 | 1.37 | 1.35 | 1.29 | 1.26 | 1.26 |
| Profit before tax | 0.58 | 1.24 | 1.52 | 1.53 | 1.22 | -7.14 | -9.23 | -6.21 | -5.54 | -3.66 |
| Tax % | 56.9 | 12.1 | 32.24 | 41.83 | 55.74 | -30.67 | -26.65 | -67.15 | 76.35 | — |
| Net Profit | 0.25 | 1.09 | 1.03 | 0.9 | 0.55 | -4.95 | -6.77 | -2.04 | -9.77 | -3.65 |
| EPS in Rs | — | — | — | — | 1.28 | -11.48 | -15.71 | -4.73 | -22.67 | -8.48 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.04 | 4.04 | 4.11 | 4.11 | 4.11 | 4.31 | 4.31 | 4.31 | 4.31 | 4.31 |
| Reserves | 2.48 | 2.92 | 4.09 | 5.12 | 6.41 | 6.76 | 2.25 | -5.08 | -7.12 | -16.9 |
| Borrowings | 9.25 | 10.47 | 10.8 | 12.6 | 19.19 | 26.82 | 27.35 | 24.57 | 24.54 | 23.77 |
| Other Liabilities | 6.23 | 8.97 | 9.71 | 11.89 | 18.06 | 10.1 | 7.49 | 9.83 | 10.76 | 12.45 |
| Total Liabilities | 22 | 26.4 | 28.71 | 33.72 | 47.77 | 47.99 | 41.4 | 33.63 | 32.49 | 23.63 |
| Fixed Assets | 10.55 | 13.8 | 13.56 | 13.69 | 19.07 | 23.74 | 22.42 | 19.46 | 17.72 | 16.45 |
| CWIP | 0.27 | 0 | 0.05 | 1.97 | 0.17 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 11.18 | 12.6 | 15.1 | 18.06 | 28.53 | 24.25 | 18.98 | 14.17 | 14.77 | 7.18 |
| Total Assets | 22 | 26.4 | 28.71 | 33.72 | 47.77 | 47.99 | 41.4 | 33.63 | 32.49 | 23.63 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1.12 | — | 1.55 | 0 | -0.51 | -1.7 | — | 0 | 0 | 0 |
| Cash from Investing Activity | -3.8 | — | -0.49 | 0 | -4.44 | -5.67 | — | 0 | 0 | 0 |
| Cash from Financing Activity | 4.92 | — | -1.09 | 0 | 4.77 | 7.16 | — | 0 | 0 | 0 |
| Net Cash Flow | 0 | — | -0.03 | 0 | -0.18 | -0.21 | — | 0 | 0 | 0 |
| Free Cash Flow | -4.96 | — | 0.96 | 0 | -5.04 | -7.37 | — | 0 | 0 | 0 |
| CFO/OP | -42 | — | 52 | 0 | -11 | -36 | — | 0 | 0 | 0 |

### Ratios

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 38.95 | 31.71 | 54.36 | 53.56 | 148.83 | 61.26 | 74.1 | 110.12 | 104.99 | 65.51 |
| Inventory Days | 358.48 | 248.35 | 299.58 | 281.01 | 458.82 | 642.01 | 967.99 | 310.12 | 258.36 | 224.43 |
| Days Payable | 184 | 196.77 | 235.13 | 147.95 | 322.93 | 87.99 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 213.42 | 83.28 | 118.81 | 186.62 | 284.72 | 615.28 | 1042.09 | 420.24 | 363.34 | 289.94 |
| Working Capital Days | 141.3 | 73.17 | 100.62 | 101.4 | 180.04 | 266.03 | 533.78 | 351.94 | 70.15 | -316.05 |
| ROCE % | 18.07 | 13.73 | 15.43 | 15.63 | 14.71 | 11.48 | -10.72 | -23.25 | -13.75 | -17.56 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Dec 2017 |
| --- | --- | --- |
| Promoters | 40.46% | 40.46% |
| Public | 59.54% | 59.54% |
| No. of Shareholders | 7310 | 7310 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 41.1% | 41.1% | 41.1% | 40.46% | 40.46% | 40.46% | 40.46% |
| Public | 58.9% | 58.9% | 58.9% | 59.54% | 59.54% | 59.54% | 59.54% |
| No. of Shareholders | 7312 | 7312 | 7312 | 7310 | 7310 | 7310 | 7310 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 3 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 684.58 | Sell |
| EMA (10) | 675.11 | Sell |
| SMA (20) | 715.81 | Sell |
| EMA (20) | 709.04 | Sell |
| SMA (50) | 795.2 | Sell |
| EMA (50) | 771.52 | Sell |
| SMA (100) | 854.27 | Sell |
| EMA (100) | 831.98 | Sell |
| SMA (200) | 939.71 | Sell |
| EMA (200) | 892.31 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 27.6 | Buy |
| MACD (12,26,9) | -41.81 | Sell |
| Stochastic (14,3,3) | 12.32 | Buy |
| ADX (14) | 19.24 | Neutral |
| Williams %R (14) | -91.55 | Buy |
| ATR (14) | 36.66 | High Volatility |
| ROC (12) | -13.17 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 38.09 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Launched 'Zaroorat Mein Aapke Saath' campaign featuring Pankaj Tripathi on Feb 9, 2026. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 9 Feb - Launched 'Zaroorat Mein Aapke Saath' campaign featuring Pankaj Tripathi on Feb 9, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f3ce644a-832b-48a7-8a42-c0596a57251b.pdf) |
| 7h - Board approved public issue of up to ₹2,000 crore secured, rated, listed NCDs on March 10, 2026. | [Board Meeting Outcome for Outcome Of Board Meeting 7h - Board approved public issue of up to ₹2,000 crore secured, rated, listed NCDs on March 10, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/98f23ca5-653b-4e01-bfff-1971dc5b324e.pdf) |
| 6h - Board approved public issue of up to ₹2,000 crore secured, listed NCDs (face ₹1,000) on March 10, 2026. | [Announcement under Regulation 30 (LODR)-Raising of Funds 6h - Board approved public issue of up to ₹2,000 crore secured, listed NCDs (face ₹1,000) on March 10, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/04b7c35d-747b-4f33-b9cb-621a6ea277ad.pdf) |
| 20 Feb - NSE Sustainability Ratings assigned ESG score 73 to Capri Global Capital on February 20, 2026. | [Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - ESG Ratings 20 Feb - NSE Sustainability Ratings assigned ESG score 73 to Capri Global Capital on February 20, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a1312d95-6b56-480c-8e4b-4db9efc16a8e.pdf) |
| 2 Mar - Newspaper Publication regarding special window for re-lodgement of transfer request of physical shares | [Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Mar - Newspaper Publication regarding special window for re-lodgement of transfer request of physical shares](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f90dc306-139d-4a28-ad93-64192162c3f7.pdf) |
| 2 Mar - Capri Loans signed PCAF on March 2, 2026 to measure and disclose financed emissions. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 2 Mar - Capri Loans signed PCAF on March 2, 2026 to measure and disclose financed emissions.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/05dc61af-6b21-4f3e-afb6-3e6e1cfa2862.pdf) |
| 13h - Board meeting on March 10, 2026 to consider issuing up to Rs.2,000 crore NCDs via public issue. | [Board Meeting Intimation for Raising Of Funds 13h - Board meeting on March 10, 2026 to consider issuing up to Rs.2,000 crore NCDs via public issue.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/749c0ab7-d030-4bfa-a21e-375e6ad0653d.pdf) |
| 12 Feb - Copy of Newspaper Publication regarding withdrawal of Postal Ballot Notice | [Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Feb - Copy of Newspaper Publication regarding withdrawal of Postal Ballot Notice](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0443853b-d953-4cb1-a758-ccfe1135adca.pdf) |
| 11 Feb - Postal Ballot dated January 13, 2026 withdrawn; remote e-voting EVEN-138123 cancelled. | [Withdrawal Of The Postal Ballot Notice Dated January 13, 2026 - Under Regulation 30 And 51 Of SEBI (LODR) Regulation, 2015 11 Feb - Postal Ballot dated January 13, 2026 withdrawn; remote e-voting EVEN-138123 cancelled.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/eb306cfe-6a13-45b3-ae6a-35640bfafb40.pdf) |
| 11 Feb - Postal Ballot dated Jan 13, 2026 withdrawn; e‑voting (EVEN 138123) cancelled for Desh Raj Dogra re-appointment. | [Withdrawal Of The Postal Ballot Notice Dated January 13, 2026 - Under Regulation 30 And 51 Of SEBI (LODR) Regulation, 2015 11 Feb - Postal Ballot dated Jan 13, 2026 withdrawn; e‑voting (EVEN 138123) cancelled for Desh Raj Dogra re-appointment.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c5f57177-2baf-4447-88d4-07a377339342.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2023 | [Concall - Sep 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c151db1e-a05d-4a35-80d0-5e530b1bd2e6.pdf) |
| Sep 2022 | [Concall - Sep 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/62540697-ad62-4c1b-9bad-ca16b1843e1b.pdf) |
| Sep 2018 | [Concall - Sep 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/9/a528faa7-8660-4950-9f6c-9603a653bd14.pdf) |
| Oct 2025 | [Concall - Oct 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6e6ca42c-7e46-41c1-b455-95a0242812d4.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/26606c96-1bc3-41f5-acf2-8a891e263fb8.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d60b9ae4-0a31-429d-a359-c6c6e2805362.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7d546298-8483-41df-abe0-f69510d86595.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bff6aa37-a78b-4631-8147-a0e26145a7df.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ac4b6432-ea85-486a-84a0-025ee5d63c3d.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6b89d5ed-27d1-4598-b58c-6f269c622695.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2011 from nse](https://archives.nseindia.com/annual_reports/AR_MMFSL_2010_2011_08082011102611.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c52083f6-38e5-481b-a005-66fcbfa97d4b.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d62fc7d2-2001-4127-8b0c-32b9f6decf58.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/eb03f261-93fd-4f8e-bdb6-485f34a429cd.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/531595/75339531595.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/531595/69705531595.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/531595/5315950320.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/531595/5315950319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/531595/5315950318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/531595/5315950317.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:26:44.072Z.