Kalyani Forge
Industrial Products
KALYANIFRG NSE
₹885.00 +42.10 (+4.99%)
- P/E
- 25.99
Close 4 Nov 2026 ₹885.00 +208.05 +30.7% 1Y
Start ₹676.95
Key Fundamentals
MicrocapIndustrial ProductsCapital GoodsPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- 12.20%
- Debt to Equity
- 1.10
- EPS (TTM)
- ₹34.05
- Book Value
- ₹262.49
- Market Cap
- —
- P/E (TTM)
- 25.99
- P/B
- 3.37
- ROE
- 10.10%
- Dividend Yield
- 0.47%
- EBITDA
- ₹31.60 Cr
- 52W High
- ₹1,192.25
- 52W Low
- ₹523.60
- Day Range
- ₹845.00 – ₹885.00
- Volume
- 1,563
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
46 Average
Data confidence 100/100
surveillance:ESM1
Category scores
- Quality
- 49
- Average
- Returns, margins, earnings quality 22% weight
- Valuation
- 37
- Weak
- Cheap vs sector & own history 24% weight
- Growth
- 31
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 37
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 97
- Strong
- Trend strength, vol-adjusted 12% weight
- Ownership
- 54
- 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
Strengths
2- Company has delivered good profit growth of 55.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.0%
Weaknesses
4- Stock is trading at 3.18 times its book value
- The company has delivered a poor sales growth of 5.35% over past five years.
- Company has a low return on equity of 8.61% over last 3 years.
- Company has high debtors of 160 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bullish | 3 | 5 | 11 |
| Oscillators | Neutral | 2 | 5 | 2 |
| Moving Averages | Strong Bullish | 1 | 0 | 9 |
Oscillators
Neutral
Bearish
2
Neutral
5
Bullish
2
Overall
Strong Bullish
Bearish
3
Neutral
5
Bullish
11
Moving Averages
Strong Bullish
Bearish
1
Neutral
0
Bullish
9
Key readings
- RSI (14)
- 56.05
- Neutral
- MACD (12,26,9)
- −14.17
- Bullish
- SMA (50)
- 892.44
- Bearish
- SMA (200)
- 680.65
- Bullish
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 | +0.17% |
|---|---|
| 5Y | +5.36% |
| 3Y | −3.80% |
| 1Y | −0.42% |
| TTM | −2.75% |
Net profit
| 10Y | +24.57% |
|---|---|
| 5Y | Turned to profit |
| 3Y | Zero base |
| 1Y | +12.50% |
| TTM | +32.09% |
Operating cash flow
| 10Y | −9.50% |
|---|---|
| 5Y | 0.00% |
| 3Y | Turned positive |
| 1Y | −68.18% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | +4.98 pp |
|---|---|
| 5Y | +4.73 pp |
| 3Y | +7.74 pp |
| 1Y | +2.16 pp |
| TTM | +3.04 pp |
Revenue by year
| Mar 2017 | ₹227 Cr |
|---|---|
| Mar 2018 | ₹259 Cr |
| Mar 2019 | ₹286 Cr |
| Mar 2020 | ₹201 Cr |
| Mar 2021 | ₹181 Cr |
| Mar 2022 | ₹246 Cr |
| Mar 2023 | ₹264 Cr |
| Mar 2024 | ₹237 Cr |
| Mar 2025 | ₹236 Cr |
| Mar 2026 | ₹235 Cr |
Net profit by year
| Mar 2017 | ₹3.00 Cr |
|---|---|
| Mar 2018 | ₹7.00 Cr |
| Mar 2019 | ₹7.00 Cr |
| Mar 2020 | −₹7.00 Cr |
| Mar 2021 | −₹2.00 Cr |
| Mar 2022 | ₹3.00 Cr |
| Mar 2023 | ₹0.00 Cr |
| Mar 2024 | ₹5.00 Cr |
| Mar 2025 | ₹8.00 Cr |
| Mar 2026 | ₹9.00 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 | 59.35 | 60.91 | 59.7 | 56.82 | 56.74 | 62.33 | 58.62 | 58.95 | 64.13 | 55.67 | 57.86 | 56.98 | 66.8 |
| Expenses | 54.24 | 56.22 | 56.81 | 55.65 | 52.93 | 54.56 | 52.54 | 52.59 | 58.18 | 49.12 | 49.1 | 50.25 | 56.19 |
| Operating Profit | 5.11 | 4.69 | 2.89 | 1.17 | 3.81 | 7.77 | 6.08 | 6.36 | 5.95 | 6.55 | 8.76 | 6.73 | 10.61 |
| OPM % | 8.61% | 7.7% | 4.84% | 2.06% | 6.71% | 12.47% | 10.37% | 10.79% | 9.28% | 11.77% | 15.14% | 11.81% | 15.88% |
| Other Income | 0.32 | 0.59 | 1.76 | 1.21 | 0.86 | 0.52 | 0.75 | 0.38 | 0.39 | 0.56 | 0.36 | 2.27 | 0.28 |
| Interest | 1.21 | 1.45 | 1.75 | 1.49 | 1.45 | 1.58 | 1.96 | 2.06 | 2.27 | 2.43 | 2.71 | 0.24 | 1.73 |
| Depreciation | 2.53 | 2.72 | 1.25 | −0.29 | 1.84 | 1.91 | 2.08 | 2.04 | 2.04 | 2.41 | 2.46 | 2.63 | 3.01 |
| PBT | 1.69 | 1.11 | 1.65 | 1.18 | 1.38 | 4.8 | 2.79 | 2.64 | 2.03 | 2.27 | 3.95 | 6.13 | 6.15 |
| Tax % | 39.05% | 18.12% | 7.88% | 40.68% | 74.64% | 18.33% | 34.77% | 15.91% | 30.54% | 5.29% | 103.04% | 4.08% | 27.15% |
| Net Profit | 1.03 | 1.3 | 1.51 | 0.71 | 0.35 | 3.92 | 1.82 | 2.23 | 1.41 | 2.15 | −0.12 | 5.88 | 4.48 |
| EPS (₹) | 2.83 | 3.57 | 4.15 | 1.95 | 0.96 | 10.78 | 5 | 6.13 | 3.88 | 5.91 | −0.33 | 16.16 | 12.31 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 241 | 231 | 227 | 259 | 286 | 201 | 181 | 246 | 264 | 237 | 237 | 235 | 237 |
| Expenses | 226 | 215 | 212 | 237 | 261 | 193 | 168 | 228 | 254 | 223 | 213 | 207 | 205 |
| Operating Profit | 14 | 16 | 15 | 22 | 26 | 8 | 13 | 19 | 11 | 14 | 23 | 28 | 33 |
| OPM % | 6% | 7% | 7% | 8% | 9% | 4.2% | 7% | 8% | 4% | 6% | 10% | 12% | 14% |
| Other Income | 2 | 3 | 5 | 7 | 6 | 3 | 1 | 1 | 5 | 4 | 3 | 4 | 3 |
| Interest | 6 | 5 | 4 | 6 | 8 | 5 | 3 | 4 | 3 | 6 | 7 | 8 | 7 |
| Depreciation | 13 | 12 | 10 | 13 | 15 | 14 | 13 | 12 | 11 | 6 | 8 | 10 | 11 |
| PBT | −3 | 2 | 5 | 9 | 10 | −8 | −2 | 4 | 1 | 6 | 12 | 14 | 18 |
| Tax % | −24% | 46% | 33% | 29% | 28% | −15% | −15% | 22% | 113% | 19% | 28% | 35% | — |
| Net Profit | −2 | 1 | 3 | 7 | 7 | −7 | −2 | 3 | 0 | 5 | 8 | 9 | 12 |
| EPS (₹) | −6.21 | 3.02 | 9.57 | 18.03 | 19.13 | −19.05 | −4.84 | 8.6 | −0.49 | 12.51 | 22.84 | 25.62 | 34.05 |
| Div. Payout % | 0% | 66% | 21% | 19% | 21% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 35% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 24% | 18% | 16% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 94 | 94 | 98 | 103 | 108 | 98 | 97 | 99 | 74 | 78 | 86 | 92 |
| Borrowings | 47 | 41 | 63 | 63 | 47 | 31 | 27 | 26 | 38 | 61 | 72 | 106 |
| Other Liabilities | 57 | 60 | 71 | 65 | 69 | 51 | 56 | 54 | 65 | 62 | 69 | 50 |
| Total Liabilities | 201 | 199 | 236 | 235 | 227 | 184 | 183 | 183 | 181 | 205 | 230 | 251 |
| Fixed Assets | 61 | 64 | 60 | 84 | 78 | 65 | 53 | 44 | 39 | 56 | 61 | 90 |
| CWIP | 17 | 8 | 30 | 5 | 0 | 1 | 1 | 2 | 3 | 5 | 15 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 123 | 127 | 147 | 146 | 148 | 118 | 129 | 137 | 138 | 143 | 154 | 152 |
| Total Assets | 201 | 199 | 236 | 235 | 227 | 184 | 183 | 183 | 181 | 205 | 230 | 251 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 25 | 19 | 15 | 12 | 30 | 24 | 7 | 11 | −2 | 10 | 22 | 7 |
| Investing | −2 | −5 | −41 | −2 | −7 | −1 | −1 | −4 | −6 | −26 | −24 | −33 |
| Financing | −20 | −11 | 19 | −8 | −25 | −23 | −7 | −5 | 8 | 16 | 3 | 25 |
| Net Cash Flow | 3 | 3 | −7 | 2 | −2 | 0 | −1 | 2 | −1 | 0 | 0 | −1 |
| Free Cash Flow | 24 | 14 | −26 | 10 | 23 | 23 | 6 | 7 | −8 | −16 | −3 | −26 |
| CFO/OP | 186 | 128 | 118 | 68 | 114 | 304 | 58 | 68 | −8 | 89 | 95 | 37 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 92 | 98 | 99 | 99 | 96 | 103 | 135 | 108 | 103 | 95 | 125 | 160 |
| Inventory Days | 96 | 117 | 156 | 139 | 123 | 143 | 178 | 135 | 114 | 180 | 186 | 129 |
| Days Payable | 118 | 128 | 146 | 143 | 122 | 123 | 141 | 95 | 107 | 146 | 166 | 104 |
| Cash Conversion Cycle | 70 | 87 | 109 | 94 | 97 | 123 | 172 | 148 | 110 | 129 | 145 | 185 |
| Working Capital Days | 34 | 29 | 18 | 36 | 42 | 53 | 85 | 74 | 44 | 53 | 38 | 52 |
| ROCE % | 2% | 5% | 6% | 9% | 10% | −2% | 1% | 6% | 4% | 9% | 12% | 12% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Kalyani Forge insights
66 extracted metrics across FY10–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript Recording
- Q4 FY26 concall · Jun 2026Transcript PPT
- Q4 FY26 concall · May 2026PPT
- Q3 FY26 concall · Feb 2026Transcript PPT
- 18 Aug 2026
- 8 Jul 2026
- 27 Feb 2026
- 19 Jan 2026
- 6 Mar 2025
- General announcements 3 Nov 2026
- General announcements 7 Oct 2026
- General announcements 1 Oct 2026
Frequently Asked Questions about Kalyani Forge
What does Kalyani Forge Ltd do?
Kalyani Forge Ltd is a Pune- based precision-engineering company manufacturing hot, warm, and cold-forged, machined and assembled components. Its engine, driveline and axle products serve passenger /commercial vehicles, agriculture, industrial, power, off-highway, marine and EV applications.
Where is Kalyani Forge Ltd (KALYANIFRG) listed?
Kalyani Forge Ltd trades as KALYANIFRG on the NSE and under code 513509 on the BSE.
Which sector does Kalyani Forge Ltd belong to?
Kalyani Forge Ltd is classified under the Industrial Products sector, in the Castings & Forgings industry.
What is the PE ratio of Kalyani Forge Ltd?
Kalyani Forge Ltd trades at a PE ratio of 25.99 as of 4 Nov 2026, on earnings per share of ₹34.05, against a book value of ₹262.49 per share.
What is the 52-week high and low of Kalyani Forge Ltd?
Over the last 52 weeks Kalyani Forge Ltd has traded between ₹523.6 and ₹1,192.25 as of 4 Nov 2026.
Does Kalyani Forge Ltd pay dividends?
Kalyani Forge Ltd has a dividend yield of 0.47%.
What is the Return on Equity (ROE) of Kalyani Forge Ltd?
Kalyani Forge Ltd reported a return on equity of 10.10%. Its debt-to-equity ratio is 1.10.
Company Information
Kalyani Forge Ltd is a Pune- based precision-engineering company manufacturing hot, warm, and cold-forged, machined and assembled components. Its engine, driveline and axle products serve passenger /commercial vehicles, agriculture, industrial, power, off-highway, marine and EV applications. Its capabilities include heat treatment, die/tool making, testing and finishing.
Website kalyaniforge.co.in
CEO Ms. Rohini Gaurishankar Kalyani B.Sc.
Employees 723
Listed 20 Dec 2007
Face Value ₹10
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