Maiden Forgings
Close ·
- P/E
- 16.98
Key Fundamentals
SMEIndustrial ProductsCapital GoodsPrice-based figures at the close · TTM
- ROCE
- 9.30%
- Debt to Equity
- 0.85
- EPS (TTM)
- ₹5.30
- Book Value
- ₹57.09
- Market Cap
- —
- P/E (TTM)
- 16.98
- P/B
- 1.58
- ROE
- 6.41%
- Dividend Yield
- 0.00%
- EBITDA
- ₹17.20 Cr
- 52W High
- ₹125.00
- 52W Low
- ₹63.52
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 60
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 49
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 50
- Average
- Sales & profit trajectory 9% weight
- Financial Health
- 42
- Weak
- Solvency, leverage, coverage 9% weight
- Momentum
- 73
- Strong
- Trend strength, vol-adjusted 12% weight
- Ownership
- 50
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
No strengths listed
Weaknesses
4- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 3.08% over past five years.
- Company has a low return on equity of 9.99% over last 3 years.
- Debtor days have increased from 49.1 to 62.1 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 12 | 4 | 3 |
| Oscillators | Bullish | 2 | 4 | 3 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bullish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 30.34
- Neutral
- MACD (12,26,9)
- −2.69
- Bearish
- SMA (50)
- 100.81
- Bearish
- SMA (200)
- 90.12
- Bearish
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.
Revenue
| 5Y | +3.12% |
|---|---|
| 3Y | +1.63% |
| 1Y | +8.92% |
Net profit
| 5Y | +20.11% |
|---|---|
| 3Y | −20.63% |
| 1Y | −16.67% |
Operating cash flow
| 5Y | Zero base |
|---|---|
| 3Y | −18.29% |
| 1Y | +20.00% |
Operating margin· change in pp
| 5Y | −0.06 pp |
|---|---|
| 3Y | −3.48 pp |
| 1Y | −2.45 pp |
Trailing twelve months: Results are not reported for each of the last eight quarters, so there is no trailing-twelve-month figure.
Revenue by year
| Mar 2020 | ₹204 Cr |
|---|---|
| Mar 2021 | ₹199 Cr |
| Mar 2022 | ₹210 Cr |
| Mar 2023 | ₹221 Cr |
| Mar 2024 | ₹236 Cr |
| Mar 2025 | ₹213 Cr |
| Mar 2026 | ₹232 Cr |
Net profit by year
| Mar 2020 | ₹2.00 Cr |
|---|---|
| Mar 2021 | ₹2.00 Cr |
| Mar 2022 | ₹2.00 Cr |
| Mar 2023 | ₹10.00 Cr |
| Mar 2024 | ₹10.00 Cr |
| Mar 2025 | ₹6.00 Cr |
| Mar 2026 | ₹5.00 Cr |
Half-yearly Results
₹ Cr| Particulars | Sep 2022 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 108 | 116 | 121 | 109 | 104 | 109 | 122 |
| Expenses | 99 | 105 | 108 | 99 | 94 | 105 | 112 |
| Operating Profit | 10 | 10 | 12 | 10 | 10 | 5 | 10 |
| OPM % | 9% | 9% | 10% | 9% | 9% | 4.4% | 8% |
| Other Income | 0 | 1 | 0 | 0 | 1 | 2 | 0 |
| Interest | 3 | 3 | 3 | 3 | 4 | 3 | 4 |
| Depreciation | 2 | 2 | 2 | 1 | 3 | 2 | 2 |
| PBT | 6 | 6 | 7 | 6 | 3 | 2 | 4 |
| Tax % | 28% | 33% | 26% | 32% | 24% | 16% | 34% |
| Net Profit | 4 | 4 | 6 | 4 | 2 | 2 | 3 |
| EPS (₹) | 3.97 | 2.94 | 3.9 | 2.85 | 1.41 | 1.48 | 2.06 |
Profit & Loss
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 204 | 199 | 210 | 221 | 236 | 213 | 232 |
| Expenses | 191 | 186 | 198 | 199 | 213 | 194 | 217 |
| Operating Profit | 13 | 13 | 12 | 22 | 23 | 19 | 15 |
| OPM % | 6% | 7% | 6% | 10% | 10% | 9% | 6% |
| Other Income | 0 | 0 | 0 | 0 | 1 | 1 | 2 |
| Interest | 7 | 7 | 6 | 5 | 6 | 7 | 7 |
| Depreciation | 4 | 4 | 3 | 4 | 4 | 4 | 4 |
| PBT | 2 | 2 | 3 | 13 | 14 | 9 | 7 |
| Tax % | 28% | 29% | 27% | 28% | 29% | 29% | 28% |
| Net Profit | 2 | 2 | 2 | 10 | 10 | 6 | 5 |
| EPS (₹) | 1.78 | 1.62 | 2.11 | 9.22 | 6.84 | 4.26 | 3.53 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 10 | 14 | 14 | 14 |
| Reserves | 17 | 24 | 26 | 30 | 57 | 62 | 67 |
| Borrowings | 63 | 61 | 62 | 68 | 63 | 69 | 69 |
| Other Liabilities | 14 | 15 | 17 | 19 | 15 | 18 | 30 |
| Total Liabilities | 99 | 105 | 110 | 127 | 149 | 164 | 181 |
| Fixed Assets | 29 | 26 | 24 | 29 | 29 | 37 | 34 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 70 | 79 | 86 | 98 | 119 | 127 | 143 |
| Total Assets | 99 | 105 | 110 | 127 | 149 | 164 | 181 |
Cash Flow
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | 3 | 0 | 3 | 11 | −12 | 5 | 6 |
| Investing | −3 | 0 | −2 | −9 | −7 | −9 | −4 |
| Financing | −1 | 2 | −1 | −2 | 19 | 5 | −3 |
| Net Cash Flow | −1 | 2 | −1 | 0 | −1 | 0 | 0 |
| Free Cash Flow | 0 | −1 | 0 | 3 | −17 | −5 | 2 |
| CFO/EBITDA | 24 | 0 | 21 | 52 | −52 | 23 | 42 |
Ratios
| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 61 | 47 | 41 | 34 | 51 | 62 |
| Inventory Days | 48 | 75 | 81 | 99 | 124 | 153 | 150 |
| Days Payable | 26 | 26 | 14 | 25 | 17 | 26 | 33 |
| Cash Conversion Cycle | 77 | 110 | 114 | 116 | 141 | 178 | 179 |
| Working Capital Days | 20 | 30 | 33 | 34 | 74 | 90 | 86 |
| ROCE % | — | 11% | 10% | 19% | 16% | 11% | 9% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Maiden Forgings insights
65 extracted metrics across FY20–FY26.
Documents
- Concall · Jun 2026Transcript PPT Recording
- Concall · Nov 2025Transcript PPT
- Concall · Jun 2025Transcript PPT
- Concall · Nov 2024Transcript PPT Recording
- Concall · Jul 2024PPT
- 1 Apr 2026
- 29 Apr 2025
- 19 Feb 2025
- 31 Jan 2025
- 10 Dec 2024
- General announcements 9 Oct 2026
- General announcements 8 Oct 2026
Frequently Asked Questions about Maiden Forgings
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Company Information
Incorporated in 2005, Maiden Forgings Ltd does manufacturing and sales of ferrous metal products including steel bright bars, wires, profiles, ground bars and nails
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