Ganga Forging
Castings, Forgings & Fastners
GANGAFORGE NSE
₹1.35 −0.02 (−1.46%)
- P/E
- Not meaningful: loss-making over the last twelve months
Close 4 Nov 2026 ₹1.35 −2.10 −60.9% 1Y
Start ₹3.45
Key Fundamentals
MicrocapIndustrial ProductsCapital GoodsPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- −6.43%
- Debt to Equity
- 0.71
- EPS (TTM)
- −₹0.07
- Book Value
- ₹1.82
- Market Cap
- —
- P/E (TTM)
- Not meaningful: loss-making over the last twelve months
- P/B
- 0.74
- ROE
- −13.20%
- Dividend Yield
- 0.00%
- EBITDA
- −₹1.90 Cr
- 52W High
- ₹4.10
- 52W Low
- ₹1.34
- Day Range
- ₹1.34 – ₹1.40
- Volume
- 20,36,277
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
30 Poor
Data confidence 91/100
surveillance:ASM1
Category scores
- Quality
- 28
- Poor
- Returns, margins, earnings quality 22% weight
- Valuation
- 54
- Average
- Cheap vs sector & own history 24% weight
- Growth
- 15
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 20
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 4
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 39
- Weak
- 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
Strengths
1- Company's working capital requirements have reduced from 113 days to 82.3 days
Weaknesses
6- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 9.16% over past five years.
- Promoter holding is low: 35.5%
- Company has a low return on equity of -4.16% over last 3 years.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -23.8%
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 12 | 3 | 4 |
| Oscillators | Bullish | 2 | 3 | 4 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bullish
Bearish
2
Neutral
3
Bullish
4
Overall
Strong Bearish
Bearish
12
Neutral
3
Bullish
4
Moving Averages
Strong Bearish
Bearish
10
Neutral
0
Bullish
0
Key readings
- RSI (14)
- 37.03
- Neutral
- MACD (12,26,9)
- −0.06
- Bearish
- SMA (50)
- 1.55
- Bearish
- SMA (200)
- 2.35
- Bearish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | Irregular period |
|---|---|
| 5Y | +9.16% |
| 3Y | +2.16% |
| 1Y | −17.58% |
| TTM | −17.40% |
Net profit
| 10Y | Irregular period |
|---|---|
| 5Y | Turned to loss |
| 3Y | Turned to loss |
| 1Y | Turned to loss |
| TTM | Turned to loss |
Operating cash flow
| 10Y | Irregular period |
|---|---|
| 5Y | −28.89% |
| 3Y | Turned positive |
| 1Y | Turned positive |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | Irregular period |
|---|---|
| 5Y | −13.32 pp |
| 3Y | −11.91 pp |
| 1Y | −11.20 pp |
| TTM | −7.68 pp |
Revenue by year
| Mar 2012 | ₹17.36 Cr |
|---|---|
| Mar 2018 | ₹24.87 Cr |
| Mar 2019 | ₹27.88 Cr |
| Mar 2020 | ₹23.64 Cr |
| Mar 2021 | ₹22.98 Cr |
| Mar 2022 | ₹28.83 Cr |
| Mar 2023 | ₹33.41 Cr |
| Mar 2024 | ₹37.21 Cr |
| Mar 2025 | ₹43.22 Cr |
| Mar 2026 | ₹35.62 Cr |
Net profit by year
| Mar 2012 | ₹0.09 Cr |
|---|---|
| Mar 2018 | ₹0.46 Cr |
| Mar 2019 | ₹0.52 Cr |
| Mar 2020 | −₹2.12 Cr |
| Mar 2021 | ₹0.25 Cr |
| Mar 2022 | ₹1.03 Cr |
| Mar 2023 | ₹1.66 Cr |
| Mar 2024 | ₹0.44 Cr |
| Mar 2025 | ₹0.61 Cr |
| Mar 2026 | −₹3.65 Cr |
Quarterly Results
₹ Cr| Particulars | Jun 2023 | 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 | 9.86 | 8.57 | 8.55 | 10.24 | 8.51 | 11.51 | 11.67 | 11.53 | 7.75 | 8.27 | 8.88 | 10.73 | 7.19 |
| Expenses | 9.34 | 8.03 | 7.91 | 9.44 | 7.92 | 10.92 | 11.18 | 10.95 | 7.81 | 10.61 | 8.48 | 10.83 | 6.52 |
| Operating Profit | 0.52 | 0.54 | 0.64 | 0.8 | 0.59 | 0.59 | 0.49 | 0.58 | −0.06 | −2.34 | 0.4 | −0.1 | 0.67 |
| OPM % | 5.27% | 6.3% | 7.49% | 7.81% | 6.93% | 5.13% | 4.2% | 5.03% | −0.77% | −28.3% | 4.5% | −0.93% | 9.32% |
| Other Income | 0 | 0.03 | 0.01 | 0.06 | 0.19 | 0.15 | 0.31 | −0.01 | 0.37 | 0.01 | 0.12 | 0.04 | 0.79 |
| Interest | 0.16 | 0.18 | 0.22 | 0.29 | 0.29 | 0.23 | 0.22 | 0.22 | 0.23 | 0.23 | 0.19 | 0.28 | 0.21 |
| Depreciation | 0.22 | 0.22 | 0.22 | 0.34 | 0.25 | 0.27 | 0.27 | 0.29 | 0.27 | 0.28 | 0.28 | 0.35 | 0.29 |
| PBT | 0.14 | 0.17 | 0.21 | 0.24 | 0.24 | 0.24 | 0.31 | 0.06 | −0.19 | −2.84 | 0.05 | −0.69 | 0.96 |
| Tax % | 14.29% | −29.41% | −9.52% | 108.33% | −20.83% | −12.5% | 12.9% | 366.67% | 47.37% | 3.52% | 20% | −33.33% | −10.42% |
| Net Profit | 0.12 | 0.22 | 0.23 | −0.02 | 0.29 | 0.28 | 0.27 | −0.15 | −0.29 | −2.94 | 0.04 | −0.46 | 1.06 |
| EPS (₹) | 0 | 0.01 | 0.01 | 0 | 0.01 | 0.01 | 0.01 | 0 | −0.01 | −0.09 | 0 | −0.01 | 0.03 |
Profit & Loss
₹ Cr| Particulars | Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 8.98 | 17.36 | 24.87 | 27.88 | 23.64 | 22.98 | 28.83 | 33.41 | 37.21 | 43.22 | 35.62 | 35.07 |
| Expenses | 8.15 | 16.22 | 22.9 | 25.53 | 24.39 | 21.28 | 26.28 | 31.41 | 34.71 | 40.94 | 37.73 | 36.44 |
| Operating Profit | 0.83 | 1.14 | 1.97 | 2.35 | −0.75 | 1.7 | 2.55 | 2 | 2.5 | 2.28 | −2.11 | −1.37 |
| OPM % | 9.24% | 6.57% | 7.92% | 8.43% | −3.17% | 7.4% | 8.84% | 5.99% | 6.72% | 5.28% | −5.92% | −3.91% |
| Other Income | 0.01 | 0.02 | 0.03 | 0.17 | 0.1 | 0.1 | 1.26 | 0.57 | 0.1 | 0.64 | 0.54 | 0.96 |
| Interest | 0.33 | 0.46 | 0.79 | 1.12 | 1.27 | 0.79 | 0.95 | 0.81 | 0.85 | 0.98 | 0.93 | 0.91 |
| Depreciation | 0.3 | 0.41 | 0.5 | 0.74 | 0.88 | 0.87 | 0.88 | 0.88 | 1 | 1.07 | 1.19 | 1.2 |
| PBT | 0.21 | 0.29 | 0.71 | 0.66 | −2.8 | 0.14 | 1.98 | 0.88 | 0.75 | 0.87 | −3.69 | −2.52 |
| Tax % | 42.86% | 72.41% | 35.21% | 21.21% | −24.64% | −85.71% | 47.47% | −88.64% | 41.33% | 28.74% | −0.81% | — |
| Net Profit | 0.11 | 0.09 | 0.46 | 0.52 | −2.12 | 0.25 | 1.03 | 1.66 | 0.44 | 0.61 | −3.65 | −2.3 |
| EPS (₹) | 0.85 | 0.69 | 0.02 | 0.02 | −0.08 | 0.01 | 0.04 | 0.06 | 0.01 | 0.02 | −0.11 | −0.07 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.35 | 0.35 | 5.57 | 7.95 | 7.95 | 10.6 | 10.6 | 10.6 | 13.42 | 13.48 | 13.48 |
| Reserves | 0.87 | 0.96 | 3.02 | 6.17 | 4.05 | 0.12 | 1.05 | 2.74 | 17.99 | 18.71 | 15.02 |
| Borrowings | 4.37 | 2.84 | 7.83 | 12.67 | 11.57 | 10.54 | 11.67 | 14.3 | 9.98 | 16.58 | 20.11 |
| Other Liabilities | 2.7 | 5.42 | 8.75 | 8.47 | 9.48 | 9.69 | 7.73 | 7.08 | 4.92 | 9.91 | 11.88 |
| Total Liabilities | 8.29 | 9.57 | 25.17 | 35.26 | 33.05 | 30.95 | 31.05 | 34.72 | 46.31 | 58.68 | 60.49 |
| Fixed Assets | 1.95 | 1.89 | 9.34 | 15.68 | 15.05 | 14.55 | 13.9 | 15.55 | 16.48 | 17.79 | 17.55 |
| CWIP | 0 | 0 | 0 | 0 | 0.36 | 0 | 2.21 | 0.75 | 0 | 0.39 | 2.87 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 6.34 | 7.68 | 15.83 | 19.58 | 17.64 | 16.4 | 14.94 | 18.42 | 29.83 | 40.5 | 40.07 |
| Total Assets | 8.29 | 9.57 | 25.17 | 35.26 | 33.05 | 30.95 | 31.05 | 34.72 | 46.31 | 58.68 | 60.49 |
Cash Flow
₹ Cr| Particulars | Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 0 | — | 0 | −1.83 | 2.35 | 1.98 | 1.33 | −1.09 | −10.64 | −4.1 | 0.36 |
| Investing | 0 | — | 0 | −6.91 | −0.6 | −0.03 | −1.69 | −0.56 | −1.16 | −2.21 | −3.15 |
| Financing | 0 | — | 0 | 8.81 | −1.76 | −1.83 | 0.19 | 1.81 | 12.47 | 5.78 | 2.59 |
| Net Cash Flow | 0 | — | 0 | 0.07 | −0.02 | 0.12 | −0.17 | 0.17 | 0.68 | −0.53 | −0.2 |
| Free Cash Flow | 0 | — | 0 | −8.74 | 1.75 | 1.67 | −0.37 | −1.65 | −11.81 | −6.33 | −2.81 |
| CFO/OP | 0 | — | 0 | −69 | −313 | 124 | 52 | −51 | −426 | −180 | −25 |
Ratios
| Particulars | Mar 2011 | Mar 2012 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 144 | 97.14 | 119 | 120 | 136 | 115 | 61.02 | 62.38 | 83.08 | 67.65 | 58.31 |
| Inventory Days | 155 | 87.56 | 133 | — | — | 205 | 181 | 182 | 245 | 244 | 267 |
| Days Payable | 151 | 159 | 163 | — | — | 184 | 82.43 | 75.71 | 29.39 | 80.58 | 116 |
| Cash Conversion Cycle | 149 | 25.29 | 89.31 | 120 | 136 | 136 | 160 | 169 | 299 | 231 | 209 |
| Working Capital Days | 56.5 | 0.84 | −0.59 | 38.23 | −5.4 | 12.39 | 29.88 | 25.78 | 162 | 95.94 | 82.28 |
| ROCE % | — | 15.4% | — | 7.5% | −6.08% | 4.33% | 9.78% | 4.67% | 4.61% | 3.17% | −6.43% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Ganga Forging insights
55 extracted metrics across FY11–FY27.
Documents
- 8 Sep 2026
- 21 Jul 2026
- 18 Jul 2026
- 18 Jul 2026
- 29 May 2026
- Certificate under sebi (depositories and participa 14 Oct 2026
Frequently Asked Questions about Ganga Forging
What does Ganga Forging Ltd do?
Incorporated in 1988, Ganga Forging Ltd is engaged in the business of production, sale, and job work of forging items.
Where is Ganga Forging Ltd (GANGAFORGE) listed?
Ganga Forging Ltd trades as GANGAFORGE on the NSE.
Which sector does Ganga Forging Ltd belong to?
Ganga Forging Ltd is classified under the Castings, Forgings & Fastners sector, in the Castings & Forgings industry.
What is the 52-week high and low of Ganga Forging Ltd?
Over the last 52 weeks Ganga Forging Ltd has traded between ₹1.34 and ₹4.1 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Ganga Forging Ltd?
Ganga Forging Ltd reported a return on equity of -13.20%. Its debt-to-equity ratio is 0.71.
Company Information
Incorporated in 1988, Ganga Forging Ltd is engaged in the business of production, sale, and job work of forging items.
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