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MM Forgings

M M Forgings Ltd

MMFL NSE
₹522.65 +28.00 (+5.66%)
P/E
19.88
View as Markdown
MCP
Close 4 Nov 2026 ₹522.65 +218.30 +71.7% 1Y
Start ₹304.35

Key Fundamentals

MicrocapAuto ComponentsConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
9.47%
Debt to Equity
1.20
EPS (TTM)
₹26.29
Book Value
₹201.99
Market Cap
—
P/E (TTM)
19.88
P/B
2.59
ROE
11.50%
Dividend Yield
0.81%
EBITDA
₹296 Cr
52W High
₹687.95
52W Low
₹295.20
Day Range
₹493.20 – ₹528.45
Volume
1,44,651

Peer Comparison

Consumer Discretionary › Automobiles › Auto Components › Auto Components & Equipments

MM Forgings peer comparison
Samvardhana Motherson International
₹159.4938.43₹1,68,660 Cr3.980.37%11.20%13.40%₹1,31,135 Cr₹4,556 Cr
Bosch
₹50,925.0063.56₹1,48,351 Cr10.110.54%14.60%21.50%₹21,088 Cr₹2,363 Cr
Bharat Forge
₹1,812.80122.74₹86,739 Cr7.650.48%12.00%12.60%₹17,543 Cr₹715 Cr
UNO Minda
₹1,196.9057.49₹67,494 Cr10.130.24%19.30%19.60%₹20,725 Cr₹1,291 Cr
Sona BLW Precision Forgings
₹893.7074.48₹56,293 Cr8.700.38%11.70%15.10%₹4,514 Cr₹746 Cr
Schaeffler India
₹3,507.2042.47₹55,555 Cr8.920.99%20.80%27.90%₹10,192 Cr₹1,292 Cr
Tube Investment
₹2,250.5071.81₹42,644 Cr5.620.16%9.95%17.10%₹23,754 Cr₹1,109 Cr
MM Forgings (this company)
₹522.6519.88₹2,433 Cr2.590.81%11.50%9.47%₹1,616 Cr₹127 Cr
Median 8 companies₹1,504.8560.53₹61,893 Cr8.180.43%11.85%16.10%₹19,134 Cr₹1,200 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

57 Good

Data confidence 100/100

Category scores

Quality
64
Good
Returns, margins, earnings quality 22% weight
Valuation
64
Good
Cheap vs sector & own history 24% weight
Growth
46
Average
Sales & profit trajectory 9% weight
Financial Health
28
Poor
Solvency, leverage, coverage 9% weight
Momentum
54
Average
Trend strength, vol-adjusted 12% weight
Ownership
57
Good
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
  • Stock is trading at 2.63 times its book value
  • Tax rate seems low
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 14.8% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish658
OscillatorsNeutral252
Moving AveragesStrong Bullish406

Key readings

RSI (14)
48.01
Neutral
MACD (12,26,9)
−22.95
Bullish
SMA (50)
576.82
Bearish
SMA (200)
502.01
Bullish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

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

Revenue growth by window
10Y+11.90%
5Y+16.30%
3Y+3.02%
1Y+4.60%
TTM+10.91%

Net profit

Net profit growth by window
10Y+8.59%
5Y+19.39%
3Y−3.28%
1Y−16.18%
TTM+0.79%

Operating cash flow

Operating cash flow growth by window
10Y+6.91%
5Y+88.82%
3Y+27.42%
1Y+26.98%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−3.71 pp
5Y+1.13 pp
3Y−0.46 pp
1Y−2.11 pp
TTM−1.74 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹478 Cr
Mar 2018₹621 Cr
Mar 2019₹904 Cr
Mar 2020₹727 Cr
Mar 2021₹726 Cr
Mar 2022₹1,105 Cr
Mar 2023₹1,413 Cr
Mar 2024₹1,527 Cr
Mar 2025₹1,477 Cr
Mar 2026₹1,545 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹43.00 Cr
Mar 2018₹69.00 Cr
Mar 2019₹81.00 Cr
Mar 2020₹46.00 Cr
Mar 2021₹47.00 Cr
Mar 2022₹92.00 Cr
Mar 2023₹126 Cr
Mar 2024₹145 Cr
Mar 2025₹136 Cr
Mar 2026₹114 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹342 Cr +15.8% vs FY26
Reported High Mean Low

Quarterly Results

₹ Cr
MMFL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
366
384
388
389
369
389
364
355
349
378
405
413
420
Expenses
303
312
313
313
297
313
291
282
286
315
334
335
345
Operating Profit
63
72
75
75
72
77
73
72
63
63
72
78
75
OPM %
17%
19%
19%
19%
19%
20%
20%
20%
18%
17%
18%
19%
18%
Other Income
6
5
7
7
7
8
6
8
9
7
5
4
7
Interest
10
9
11
13
15
16
15
15
18
21
20
18
16
Depreciation
18
18
17.5
18
19
20
20
23
22
22
22
25
30
PBT
41
51
53.52
52
44
49
44
43
31
26
34
39
36
Tax %
27%
28%
29%
26%
27%
27%
27%
16%
28%
32%
25%
−24%
2%
Net Profit
30
37
38.02
38.62
32
36
32
36
22
18
26
48
35
EPS (₹)
6.21
7.58
7.71
7.88
6.71
7.44
6.57
7.5
4.63
3.67
5.33
9.96
7.33

Profit & Loss

₹ Cr
MMFL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
503
502
478
621
904
727
726
1,105
1,413
1,527
1,477
1,545
1,616
Expenses
392
394
386
496
731
602
604
903
1,154
1,239
1,183
1,270
1,328
Operating Profit
111
108
93
124
173
125
121
202
258
288
294
275
288
OPM %
22%
22%
19%
20%
19%
17%
17%
18%
18%
19%
20%
18%
18%
Other Income
2
5
11
12
16
19
22
19
16
26
30
25
23
Interest
9
8
10
13
26
33
31
27
30
43
61
78
76
Depreciation
35
36
39
42
54
53
57
60
69
72
82
92
99
PBT
69
69
55
82
109
57
55
133
176
199
180
130
135
Tax %
26%
28%
21%
17%
25%
19%
15%
31%
28%
27%
24%
12%
—
Net Profit
51
50
43
69
81
46
47
92
126
145
136
114
127
EPS (₹)
10.49
10.39
9.01
14.21
16.84
9.57
9.65
19
26.17
30.12
28.23
23.58
26.29
Div. Payout %
14%
14%
17%
18%
15%
26%
26%
16%
11%
13%
14%
17%
—

Balance Sheet

₹ Cr
MMFL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
12
12
12
12
24
24
24
24
24
24
48
48
Reserves
226
268
303
357
412
444
476
554
666
792
886
983
Borrowings
190
214
224
381
688
566
532
680
756
925
1,184
1,235
Other Liabilities
45
45
51
86
93
105
230
181
227
254
266
282
Total Liabilities
473
538
589
836
1,217
1,140
1,263
1,439
1,673
1,996
2,384
2,549
Fixed Assets
225
262
320
365
588
653
618
650
719
818
861
1,004
CWIP
11
30
14
27
39
9
17
36
61
112
361
299
Investments
0
0
0
4
5
5
5
33
41
41
22
28
Other Assets
237
245
255
440
585
473
623
720
853
1,025
1,140
1,217
Total Assets
473
538
589
836
1,217
1,140
1,263
1,439
1,673
1,996
2,384
2,549

Cash Flow

₹ Cr
MMFL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
106
123
107
−14
33
273
10
147
116
145
189
240
Investing
−63
−86
−69
−93
−275
−71
−12
−126
−160
−201
−330
−157
Financing
21
−5
−25
137
249
−199
14
17
21
63
149
−77
Net Cash Flow
64
32
13
30
8
2
13
38
−23
6
8
6
Free Cash Flow
40
31
27
−114
−257
185
−20
36
−40
−76
−185
69
CFO/OP
111
130
130
4
33
226
13
86
61
61
84
93

Ratios

MMFL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
21
11
13
33
32
6
61
55
59
76
95
100
Inventory Days
139
128
119
177
167
143
177
139
157
165
182
163
Days Payable
48
52
52
87
43
78
103
83
87
83
93
100
Cash Conversion Cycle
111
87
80
123
157
71
135
112
129
157
183
163
Working Capital Days
−8
−22
−32
−41
−16
−69
−57
−28
−21
−19
−15
−25
ROCE %
20%
17%
13%
15%
14%
8%
8%
14%
15%
15%
12%
9%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view MM Forgings insights

66 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 56.34%
  • Public 26.39%
  • DIIs 7.41%
  • Others 6.75%
  • FIIs 3.11%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about MM Forgings

What does M M Forgings Ltd do?
M M Forgings Limited is engaged in the business of manufacturing Steel Forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy and Stainless Steels.
Where is M M Forgings Ltd (MMFL) listed?
M M Forgings Ltd trades as MMFL on the NSE and under code 522241 on the BSE.
Which sector does M M Forgings Ltd belong to?
M M Forgings Ltd is classified under the Automobiles sector, in the Auto Components industry.
What is the PE ratio of M M Forgings Ltd?
M M Forgings Ltd trades at a PE ratio of 19.88 as of 4 Nov 2026, on earnings per share of ₹26.29, against a book value of ₹201.99 per share.
What is the 52-week high and low of M M Forgings Ltd?
Over the last 52 weeks M M Forgings Ltd has traded between ₹295.2 and ₹687.95 as of 4 Nov 2026.
Does M M Forgings Ltd pay dividends?
M M Forgings Ltd has a dividend yield of 0.81%.
What is the Return on Equity (ROE) of M M Forgings Ltd?
M M Forgings Ltd reported a return on equity of 11.50%. Its debt-to-equity ratio is 1.20.

Company Information

M M Forgings Limited is engaged in the business of manufacturing Steel Forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy and Stainless Steels.

Website mmforgings.com
Listed 20 Dec 2006
Face Value ₹10

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