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Balu Forge Industries (BALUFORGE)₹529.60+3.45%Castings & Forgings
In the Jun 2026 quarter (consolidated), Balu Forge Industries reported sales of ₹302 Cr, up 29.3% from Jun 2025, and net profit of ₹65.92 Cr, up 15.9% year on year. For the year to Mar 2026, sales were ₹1,111 Cr and net profit ₹258 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| 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 | 140 | 148 | 162 | 176 | 224 | 257 | 271 | 234 | 301 | 312 | 265 | 302 |
| Expenses | 109 | 114 | 127 | 132 | 158 | 188 | 195 | 161 | 217 | 227 | 204 | 216 |
| Operating Profit | 30.01 | 33.01 | 34.01 | 42.99 | 65.01 | 67.97 | 75.06 | 72.03 | 82.99 | 85.07 | 59.98 | 84.95 |
| OPM % | 22.0% | 22.0% | 21.1% | 25.0% | 29.1% | 26.1% | 28.0% | 31.1% | 28.1% | 27.0% | 23.0% | 28.0% |
| Other Income | 4.01 | 2.01 | 4.01 | 1.01 | 2.01 | 10.01 | 3.99 | 2.01 | 3.01 | 3.99 | 23.03 | 4.01 |
| Interest | 4.01 | 4.01 | 4.01 | 2.01 | 3.01 | 2.01 | 4.01 | 2.01 | 4.01 | 5.01 | 5.01 | 5.01 |
| Depreciation | 0.00 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 2.01 | 2.01 | 3.01 | 3.01 | 3.01 |
| Profit before tax | 29.91 | 29.91 | 34.91 | 41.90 | 63.77 | 73.80 | 73.73 | 69.74 | 79.75 | 80.75 | 74.72 | 80.70 |
| Tax % | 21.9% | 15.9% | 17.9% | 18.0% | 24.9% | 20.0% | 15.0% | 18.9% | 18.9% | 11.9% | 13.0% | 18.0% |
| Net Profit | 22.95 | 24.96 | 27.94 | 33.93 | 47.93 | 58.87 | 62.92 | 56.88 | 64.86 | 70.90 | 65.85 | 65.92 |
| EPS (Rs) | 2.31 | 2.45 | 2.75 | 3.32 | 4.37 | 5.37 | 5.71 | 4.98 | 5.69 | 6.16 | 5.39 | 5.42 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 142 | 287 | 328 | 562 | 928 | 1,111 | 1,180 |
| Expenses | 130 | 249 | 277 | 441 | 672 | 807 | 863 |
| Operating Profit | 12.01 | 37.02 | 50.03 | 119 | 251 | 300 | 313 |
| OPM % | 9.0% | 13.1% | 15.0% | 21.1% | 27.0% | 27.0% | 26.5% |
| Other Income | 5.01 | 8.01 | 13.01 | 10.01 | 16.99 | 33.04 | 34.04 |
| Interest | 7.01 | 5.01 | 11.01 | 14.01 | 11.01 | 16.01 | 19.04 |
| Depreciation | 1.01 | 1.01 | 1.01 | 2.01 | 3.01 | 10.03 | 11.04 |
| Profit before tax | 9.97 | 38.86 | 50.88 | 114 | 253 | 305 | 316 |
| Tax % | 21.9% | 24.0% | 22.9% | 17.9% | 20.0% | 15.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Net Profit | 7.98 | 29.94 | 38.92 | 92.80 | 204 | 258 | 268 |
| EPS (Rs) | 1.10 | 3.62 | 4.65 | 9.07 | 18.57 | 21.23 | 22.66 |
| Dividend payout % | 0.0% | 3.0% | 0.0% | 2.0% | 1.0% | 0.0% | — |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 69.12 | 82.23 | 83.14 | 103 | 111 | 121 |
| Reserves | 8.98 | 75.82 | 114 | 449 | 940 | 1,470 |
| Borrowings | 26.01 | 47.02 | 51.97 | 49.02 | 40.03 | 152 |
| Other Liabilities | 67.76 | 77.89 | 121 | 112 | 160 | 105 |
| Total Liabilities | 171 | 284 | 371 | 712 | 1,251 | 1,849 |
| Fixed Assets | 41.91 | 41.89 | 47.88 | 56.85 | 183 | 545 |
| CWIP | 0.00 | 6.98 | 6.99 | 130 | 416 | 276 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 129 | 235 | 316 | 525 | 652 | 1,028 |
| Inventories | 19.95 | 41.85 | 34.90 | 88.73 | 97.67 | 145 |
| Trade receivables | 61.24 | 129 | 212 | 219 | 328 | 427 |
| Cash & equivalents | 3.01 | 7.02 | 8.02 | 91.26 | 96.17 | 89.19 |
| Total Assets | 171 | 284 | 371 | 712 | 1,251 | 1,849 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from operating activity | 16.97 | −57.90 | 25.95 | −31.97 | 148 | 31.92 |
| Cash from investing activity | −2.99 | −7.97 | −20.94 | −134 | −416 | −353 |
| Cash from financing activity | −12.03 | 69.07 | −6.01 | 249 | 275 | 316 |
| Net cash flow | 1.99 | 3.99 | −0.99 | 82.88 | 4.99 | −6.99 |
| Capex | 2.99 | 7.97 | 20.93 | 133 | 414 | 206 |
| Free cash flow | 14.03 | −65.16 | 5.01 | −166 | −269 | −175 |
| CFO / OP % | 159.0% | −160.9% | 52.1% | −12.0% | 73.0% | 15.1% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor days | 155 | 164 | 234 | 141 | 128 | 139 |
| Inventory days | 66 | 70 | 56 | 87 | 59 | 75 |
| Days payable | 157 | 75 | 105 | 78 | 71 | 32 |
| Cash conversion cycle | 65 | 160 | 186 | 151 | 117 | 182 |
| Working capital days | 113 | 141 | 146 | 175 | 114 | 158 |
| ROCE % | — | 29.1% | 27.0% | 30.1% | 31.0% | 23.0% |
For the Jun 2026 quarter, Balu Forge Industries reported sales of ₹302 Cr, up 29.3% year on year and net profit of ₹65.92 Cr, up 15.9% year on year. The operating margin was 28.0%.
Balu Forge Industries' sales for the year to Mar 2026 were ₹1,111 Cr; over the last twelve months they were ₹1,180 Cr.
Net profit for the year to Mar 2026 was ₹258 Cr, and ₹268 Cr over the last twelve months. Earnings per share over the same trailing period were ₹22.66.
Balu Forge Industries reported borrowings of ₹152 Cr at Mar 2026, against cash and equivalents of ₹89.19 Cr.
Cash from operations was ₹31.92 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹175 Cr.