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Munish Forge

MUNISH NSE
₹83.00 +1.50 (+1.84%)
P/E
17.66
View as Markdown
MCP
Close 4 Nov 2026 ₹83.00 −46.00 −35.7% 1Y
Start ₹129.00

Key Fundamentals

SMEIndustrial ProductsCapital Goods

Price-based figures as of · TTM

ROCE
12.00%
Debt to Equity
0.45
EPS (TTM)
₹4.70
Book Value
₹52.45
Market Cap
—
P/E (TTM)
17.66
P/B
1.58
ROE
10.80%
Dividend Yield
0.00%
EBITDA
₹22.60 Cr
52W High
₹132.00
52W Low
₹50.20
Day Range
₹83.00 – ₹83.00
Volume
1,200

Tapetide Score

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

Overall score

44 Weak

Data confidence 100/100

Category scores

Quality
31
Poor
Returns, margins, earnings quality 22% weight
Valuation
39
Weak
Cheap vs sector & own history 24% weight
Growth
42
Weak
Sales & profit trajectory 9% weight
Financial Health
61
Good
Solvency, leverage, coverage 9% weight
Momentum
82
Strong
Trend strength, vol-adjusted 12% weight
Ownership
30
Poor
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 has delivered good profit growth of 128% CAGR over last 5 years

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Debtor days have increased from 60.5 to 83.2 days.
  • Working capital days have increased from 72.0 days to 105 days

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish973
OscillatorsBearish270
Moving AveragesStrong Bearish703

Key readings

RSI (14)
46.19
Neutral
MACD (12,26,9)
−1.34
Bearish
SMA (50)
85.95
Bearish
SMA (200)
76.84
Bullish

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

Revenue growth by window
5Y+19.85%
3Y+4.58%
1Y+4.57%

Net profit

Net profit growth by window
5YZero base
3Y+76.52%
1Y−21.43%

Operating cash flow

Operating cash flow growth by window
5Y—
3YTurned negative
1YTurned negative

5Y: The statements do not go back far enough for this window.

Operating margin· change in pp

Operating margin growth by window
5Y+10.13 pp
3Y+5.85 pp
1Y−2.23 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

Revenue by year, ₹ crore
Mar 2021₹74.00 Cr
Mar 2022₹125 Cr
Mar 2023₹160 Cr
Mar 2024₹160 Cr
Mar 2025₹175 Cr
Mar 2026₹183 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2021₹0.00 Cr
Mar 2022₹1.00 Cr
Mar 2023₹2.00 Cr
Mar 2024₹4.00 Cr
Mar 2025₹14.00 Cr
Mar 2026₹11.00 Cr

Half-yearly Results

₹ Cr
MUNISH half-yearly results, ₹ crore
Particulars Mar 2025Sep 2025Mar 2026
Sales
90
83
100
Expenses
77
70
91
Operating Profit
13
13
9
OPM %
15%
15%
9%
Other Income
2
1
1
Interest
3
3
3
Depreciation
2
2
2
PBT
11
8
5
Tax %
27%
13%
27%
Net Profit
8
7
3
EPS (₹)
4.48
4.02
1.42

Profit & Loss

₹ Cr
MUNISH profit and loss, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
74
125
160
160
175
183
Expenses
72
115
151
148
151
161
Operating Profit
1
9
9
11
24
21
OPM %
1.8%
7%
6%
7%
14%
12%
Other Income
6
1
1
2
4
1
Interest
4
5
5
5
5
6
Depreciation
4
4
3
3
3
4
PBT
0
1
2
6
20
13
Tax %
−143%
−21%
19%
24%
26%
18%
Net Profit
0
1
2
4
14
11
EPS (₹)
1.76
14.84
20.44
45.56
8.15
4.37
Div. Payout %
0%
0%
0%
0%
0%
0%

Balance Sheet

₹ Cr
MUNISH balance sheet, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
10
10
10
10
18
24
Reserves
26
24
26
31
50
103
Borrowings
47
60
51
47
61
57
Other Liabilities
31
28
20
25
33
26
Total Liabilities
113
121
107
113
162
210
Fixed Assets
30
26
24
22
37
40
CWIP
0
0
0
5
0
0
Investments
0
0
0
0
12
13
Other Assets
84
96
83
87
113
157
Total Assets
113
121
107
113
162
210

Cash Flow

₹ Cr
MUNISH cash flow, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
6
20
4
5
−34
Investing
—
1
0
−5
−10
−6
Financing
—
−5
−14
−8
8
51
Net Cash Flow
—
2
6
−8
3
11
Free Cash Flow
—
7
19
−1
−8
−41
CFO/OP
—
62
226
49
40
−147

Ratios

MUNISH financial ratios, annual
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
104
68
48
46
53
83
Inventory Days
415
202
119
148
273
322
Days Payable
198
52
24
38
71
46
Cash Conversion Cycle
320
218
143
155
255
360
Working Capital Days
110
67
49
69
42
105
ROCE %
—
7%
8%
12%
23%
12%

Insights

Beta

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

Log in to view Munish Forge insights

55 extracted metrics across FY21–FY26.

Shareholding Pattern

As of Sep 2026

  • Promoters 68.01%
  • Others 16.30%
  • Public 14.65%
  • FIIs 0.57%
  • DIIs 0.48%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Munish Forge

What does Munish Forge Ltd do?
Incorporated in July 1986, Munish Forge Limited manufactures components, including flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories.
Where is Munish Forge Ltd (MUNISH) listed?
Munish Forge Ltd trades as MUNISH on the NSE.
Which sector does Munish Forge Ltd belong to?
Munish Forge Ltd is classified under the Industrial Products sector, in the Castings & Forgings industry.
What is the PE ratio of Munish Forge Ltd?
Munish Forge Ltd trades at a PE ratio of 17.66 as of 4 Nov 2026, on earnings per share of ₹4.7, against a book value of ₹52.45 per share.
What is the 52-week high and low of Munish Forge Ltd?
Over the last 52 weeks Munish Forge Ltd has traded between ₹50.2 and ₹132 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Munish Forge Ltd?
Munish Forge Ltd reported a return on equity of 10.80%. Its debt-to-equity ratio is 0.45.

Company Information

Incorporated in July 1986, Munish Forge Limited manufactures components, including flanges, scaffolding, auto parts, tank tracks, bomb shells, fence posts, and steel accessories.

Website munishforge.com
Listed 8 Oct 2025
Face Value ₹10

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