---
title: "Shree Ganesh Forgings Ltd (SGFL) — Share Price, Financials & Analysis"
symbol: "SGFL"
company: "Shree Ganesh Forgings Ltd"
canonical: "https://tapetide.com/stocks/SGFL"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T18:40:45.727Z"
---

# Shree Ganesh Forgings Ltd (SGFL)

Canonical page: https://tapetide.com/stocks/SGFL

## Company

- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** shreeganeshforgings.com

## About

Shree Ganesh Forgings manufactures and exports forging products worldwide. It offers stainless steel, duplex steel, special chrome molly, special alloy steel, and carbon steel products.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.

### Weaknesses

- Company has low interest coverage ratio.
- Earnings include an other income of Rs.33.0 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -17% | 12% | -3% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.44 | 0.44 | 0 | 0.51 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 2.54 | 2.54 | 0.21 | 0.42 | 0.29 | 0.02 | 0.08 | 0.19 | 0.19 | 0.01 | 0.08 | 0.03 |
| Operating Profit | -2.1 | -2.1 | -0.21 | 0.09 | -0.29 | -0.02 | -0.08 | -0.19 | -0.19 | -0.01 | -0.08 | -0.03 |
| OPM % | -477.27 | -477.27 | — | 17.65 | — | — | — | — | — | — | — | — |
| Other Income | -4.51 | -4.51 | 0 | 0 | 0.46 | 0 | 0.01 | 0 | 0 | 0 | 0 | 7.25 |
| Interest | 0.27 | 0.27 | 0 | 0.28 | 0.31 | 0 | 0 | 0.33 | 0.35 | 0 | 0 | 0 |
| Depreciation | 0.89 | 0.89 | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 | 1.14 | 0.83 | 1.12 | 1.12 | 1.12 |
| Profit before tax | -7.77 | -7.77 | -1.35 | -1.33 | -1.28 | -1.16 | -1.21 | -1.66 | -1.37 | -1.13 | -1.2 | 6.1 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -7.78 | -7.78 | -1.35 | -1.33 | -1.28 | -1.16 | -1.21 | -1.66 | -1.37 | -1.13 | -1.2 | 6.1 |
| EPS in Rs | -6.22 | -6.22 | -1.08 | -1.06 | -1.02 | -0.93 | -0.97 | -1.33 | -1.1 | -0.9 | -0.96 | 4.88 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2011 18m | Mar 2012 6m | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 13 | 2 | 2 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 31 | 12 | 20 | 2 | 2 | 5 | 9 | 1 | 1 | 10 |
| Operating Profit | -18 | -9 | -18 | -1 | -2 | -5 | -9 | -1 | -1 | -10 |
| OPM % | -134 | -389 | -827 | -409 | -256 | -2170 | -1728 | -11000 | -4700 | — |
| Other Income | 11 | 1 | 0 | 4 | 0 | 0 | 1 | 0 | 0 | 33 |
| Interest | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 0 | 8 |
| Depreciation | 8 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Profit before tax | -14 | -10 | -21 | -1 | -6 | -10 | -12 | -6 | -5 | 10 |
| Tax % | -30 | -2 | -4 | -61 | -13 | -12 | -11 | 0 | 0 | 0 |
| Net Profit | -10 | -10 | -20 | 0 | -6 | -8 | -11 | -6 | -5 | 10 |
| EPS in Rs | -8.1 | -8 | -16.32 | -0.39 | -4.42 | -6.8 | -8.62 | -4.46 | -4.34 | 8.02 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | -25 | -35 | -55 | -56 | -62 | -76 | -87 | -93 | -99 | -27 |
| Borrowings | 140 | 139 | 139 | 138 | 138 | 143 | 140 | 140 | 140 | 63 |
| Other Liabilities | 12 | 11 | 12 | 10 | 11 | 12 | 10 | 11 | 11 | 9 |
| Total Liabilities | 140 | 127 | 107 | 105 | 100 | 91 | 75 | 70 | 65 | 58 |
| Fixed Assets | 46 | 44 | 41 | 37 | 34 | 29 | 25 | 20 | 16 | 6 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 9 | 9 | 9 | 6 | 6 | 6 | 0 | 0 | 0 | 0 |
| Other Assets | 85 | 74 | 58 | 61 | 60 | 55 | 50 | 50 | 50 | 52 |
| Total Assets | 140 | 127 | 107 | 105 | 100 | 91 | 75 | 70 | 65 | 58 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 1 | 0 | 0 | 1 | -2 | 1 | -2 | 0 | 0 | — |
| Cash from Investing Activity | 0 | 0 | 0 | 3 | 0 | 0 | 6 | 0 | 0 | — |
| Cash from Financing Activity | -1 | 0 | 0 | -1 | -1 | -1 | -4 | 0 | 0 | — |
| Net Cash Flow | -1 | 0 | 0 | 3 | -4 | 0 | 0 | 0 | 0 | — |
| Free Cash Flow | 1 | 0 | 0 | 1 | -2 | 1 | -2 | 0 | 0 | — |
| CFO/OP | -5 | -3 | 1 | -109 | 146 | -26 | 26 | -14 | 27 | — |

### Ratios

| Item | Sep 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 209 | 1256 | 1401 | 9180 | 4889 | 8649 | 0 | 0 | — | — |
| Inventory Days | 620 | 870 | 110 | 21576 | 5193 | 1363 | 336 | — | — | — |
| Days Payable | 157 | 271 | 147 | 23319 | 4578 | 1533 | 419 | — | — | — |
| Cash Conversion Cycle | 672 | 1855 | 1363 | 7436 | 5504 | 8479 | -82 | 0 | — | — |
| Working Capital Days | 114 | -721 | -3871 | -23979 | -13080 | -43102 | -24477 | -1254870 | — | — |
| ROCE % | -19 | — | -20 | -1 | -6 | -11 | -16 | -8 | -10 | 4 |

## Shareholding Pattern

### annual

| Category | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Dec 2020 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% |
| Public | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% |
| No. of Shareholders | 4713 | 4776 | 4653 | 4624 | 4624 | 4632 |

### Quarterly

| Category | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% | 57.32% |
| Public | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% | 42.68% |
| No. of Shareholders | 4653 | 4641 | 4641 | 4647 | 4624 | 4618 | 4629 | 4621 | 4624 | 4624 | 4631 | 4632 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 7 / 10

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 23.64 | Sell |
| EMA (10) | 23.5 | Sell |
| SMA (20) | 23.3 | Sell |
| EMA (20) | 23.6 | Sell |
| SMA (50) | 24.76 | Sell |
| EMA (50) | 25.41 | Sell |
| SMA (100) | 30.16 | Sell |
| EMA (100) | 28.41 | Sell |
| SMA (200) | 31.14 | Sell |
| EMA (200) | 33.15 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 43.93 | Neutral |
| MACD (12,26,9) | -0.34 | Buy |
| Stochastic (14,3,3) | 43.33 | Neutral |
| ADX (14) | 16.24 | Neutral |
| Williams %R (14) | -77.14 | Neutral |
| ATR (14) | 1 | High Volatility |
| ROC (12) | 1.33 | Buy |
| Stoch RSI (14) | 32.64 | Neutral |
| UO (7,14,28) | 45.4 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| — | [Results-Financial Results For September 30, 2019. 29 Jan 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=871de714-35e3-4b95-acc2-48c566fed556.pdf) |
| — | [Results Financial Results For December 31, 2019. 29 Jan 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=635ec8f9-9596-462f-9c61-a9c8ffe02875.pdf) |
| — | [Results Financial Results For December 31, 2019. 29 Jan 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f52b146e-b68a-47e0-bcc9-76862f538c70.pdf) |
| — | [Results-Financial Results For September 30, 2019. 29 Jan 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/871de714-35e3-4b95-acc2-48c566fed556.pdf) |
| — | [Results Financial Results For December 31, 2019. 29 Jan 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/635ec8f9-9596-462f-9c61-a9c8ffe02875.pdf) |
| — | [Results Financial Results For December 31, 2019. 29 Jan 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f52b146e-b68a-47e0-bcc9-76862f538c70.pdf) |
| — | [Board Meeting Intimation for Intimation Under Regulations 29(1) Of The SEBI ( Listing Obligations And Disclousure Requirements ) Regulations, 2015 - Board Meeting Of Approval Of Financial Results For The Quarter Ended 30.09.2019 And 31.12.2019. 23 Jan 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a311c31d-ea77-45ca-b917-b59dc6cd4dbb.pdf) |
| — | [Board Meeting Intimation for Intimation Under Regulations 29(1) Of The SEBI ( Listing Obligations And Disclousure Requirements ) Regulations, 2015 - Board Meeting Of Approval Of Financial Results For The Quarter Ended 30.09.2019 And 31.12.2019. 23 Jan 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a311c31d-ea77-45ca-b917-b59dc6cd4dbb.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_3181_SGFL_2012_2013_19022014114643.zip) |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_2803_SGFL_2011_2012_25102013190001.zip) |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_SGFL_2010_2011_26062012121634.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_SGFL_2009_2010_25082010120000.zip) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/532643/5326430319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532643/5326430318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532643/5326430317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532643/5326430316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532643/5326430315.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/532643/5326430313.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:40:45.727Z.