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Kalyani Forge (KALYANIFRG)₹860.30+0.71%Castings & Forgings
In the Mar 2026 quarter (standalone), Kalyani Forge reported sales of ₹56.96 Cr, down 3.3% from Mar 2025, and net profit of ₹5.89 Cr, up 162.9% year on year. For the year to Mar 2026, sales were ₹235 Cr and net profit ₹9.02 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 59.34 | 60.84 | 59.64 | 56.75 | 56.71 | 62.34 | 58.61 | 58.88 | 64.08 | 55.62 | 57.83 | 56.96 |
| Expenses | 54.11 | 56.14 | 56.66 | 55.50 | 52.85 | 54.45 | 52.40 | 52.52 | 58.10 | 48.99 | 48.96 | 50.13 |
| Operating Profit | 5.10 | 4.68 | 2.88 | 1.16 | 3.80 | 7.75 | 6.06 | 6.34 | 5.94 | 6.53 | 8.74 | 6.71 |
| OPM % | 8.6% | 7.7% | 4.9% | 2.1% | 6.7% | 12.5% | 10.4% | 10.8% | 9.3% | 11.8% | 15.2% | 11.9% |
| Other Income | 0.33 | 1.07 | 1.75 | 1.20 | 0.87 | 0.51 | 0.74 | 0.37 | 0.40 | 0.55 | 0.35 | 2.26 |
| Interest | 1.22 | 1.46 | 1.74 | 1.50 | 1.46 | 1.59 | 1.97 | 2.07 | 2.28 | 2.44 | 2.72 | 0.25 |
| Depreciation | 2.54 | 2.73 | 1.26 | −0.30 | 1.85 | 1.92 | 2.09 | 2.05 | 2.05 | 2.42 | 2.47 | 2.64 |
| Profit before tax | 1.70 | 1.61 | 1.66 | 1.19 | 1.39 | 4.82 | 2.80 | 2.65 | 2.04 | 2.28 | 3.96 | 6.15 |
| Tax % | 39.1% | 18.1% | 7.9% | 40.7% | 74.7% | 18.3% | 34.8% | 15.9% | 30.5% | 5.3% | 103.0% | 4.1% |
| Net Profit | 1.04 | 1.31 | 1.52 | 0.72 | 0.36 | 3.93 | 1.83 | 2.24 | 1.42 | 2.16 | −0.13 | 5.89 |
| EPS (Rs) | 2.84 | 3.58 | 4.16 | 1.96 | 0.97 | 10.77 | 5.01 | 6.12 | 3.89 | 5.92 | −0.32 | 16.17 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 231 | 227 | 259 | 286 | 201 | 181 | 246 | 264 | 237 | 237 | 235 | 234 |
| Expenses | 215 | 211 | 237 | 261 | 193 | 168 | 227 | 253 | 222 | 213 | 207 | 206 |
| Operating Profit | 15.96 | 14.96 | 21.94 | 25.92 | 7.98 | 12.97 | 18.94 | 10.98 | 13.97 | 23.94 | 27.93 | 27.92 |
| OPM % | 7.0% | 7.0% | 8.0% | 9.0% | 4.2% | 7.0% | 8.0% | 4.0% | 6.0% | 10.0% | 12.1% | 11.9% |
| Other Income | 2.99 | 4.99 | 6.99 | 6.01 | 2.99 | 0.99 | 0.99 | 5.01 | 3.99 | 2.99 | 3.99 | 3.56 |
| Interest | 5.01 | 4.01 | 5.99 | 7.99 | 5.01 | 3.01 | 3.99 | 3.01 | 6.01 | 7.01 | 8.01 | 7.69 |
| Depreciation | 12.03 | 10.03 | 13.03 | 15.05 | 14.05 | 13.03 | 12.04 | 11.04 | 6.02 | 8.02 | 10.02 | 9.58 |
| Profit before tax | 2.01 | 5.01 | 9.02 | 10.03 | −8.02 | −2.01 | 4.01 | 1.01 | 6.02 | 12.04 | 14.04 | 14.43 |
| Tax % | 46.0% | 33.0% | 29.0% | 28.0% | −15.0% | −15.0% | 22.0% | 113.0% | 19.0% | 28.0% | 35.0% | — |
| Exceptional items | −0.01 | 0.02 | 0.03 | 0.01 | 0.00 | −0.43 | 0.17 | 0.05 | 0.04 | −0.07 | 0.00 | — |
| Net Profit | 1.01 | 3.01 | 7.01 | 7.01 | −7.01 | −2.01 | 3.01 | 0.00 | 5.01 | 8.02 | 9.02 | 9.34 |
| EPS (Rs) | 3.03 | 9.58 | 18.05 | 19.12 | −19.07 | −4.85 | 8.61 | −0.50 | 12.52 | 22.83 | 25.64 | 25.66 |
| Dividend payout % | 66.0% | 21.0% | 19.0% | 21.0% | −5.0% | −31.1% | 35.0% | −607.0% | 24.0% | 18.0% | 16.0% | — |
| 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 | 4.00 | 4.01 | 4.01 | 4.01 | 4.00 | 4.01 | 4.01 | 4.00 | 4.01 | 4.00 | 4.01 | 4.00 |
| Reserves | 94.10 | 94.18 | 98.14 | 103 | 108 | 98.17 | 97.09 | 98.98 | 74.06 | 78.06 | 86.07 | 92.05 |
| Borrowings | 47.01 | 41.05 | 62.99 | 63.09 | 46.98 | 31.02 | 27.01 | 25.99 | 38.03 | 61.02 | 72.02 | 106 |
| Other Liabilities | 56.73 | 59.71 | 70.65 | 64.69 | 68.68 | 50.76 | 55.72 | 53.74 | 64.69 | 61.70 | 68.67 | 49.76 |
| Total Liabilities | 201 | 199 | 236 | 235 | 227 | 184 | 183 | 183 | 181 | 205 | 230 | 251 |
| Fixed Assets | 61.18 | 64.12 | 60.14 | 84.26 | 78.16 | 65.20 | 53.13 | 44.10 | 39.08 | 56.13 | 61.12 | 90.22 |
| CWIP | 17.03 | 8.02 | 30.09 | 5.01 | 0.00 | 1.01 | 1.01 | 2.01 | 3.01 | 5.01 | 15.04 | 10.02 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 123 | 127 | 147 | 146 | 148 | 118 | 129 | 137 | 138 | 143 | 154 | 152 |
| Inventories | 33.88 | 36.89 | 44.83 | 47.86 | 47.85 | 39.88 | 44.82 | 48.84 | 46.87 | 55.78 | 56.82 | 34.90 |
| Trade receivables | 61.17 | 62.22 | 62.17 | 70.25 | 75.23 | 57.16 | 67.27 | 73.21 | 75.24 | 62.24 | 81.30 | 103 |
| Cash & equivalents | 7.03 | 10.04 | 2.01 | 5.02 | 5.02 | 6.02 | 3.01 | 5.02 | 5.02 | 6.02 | 3.01 | 2.01 |
| Total Assets | 201 | 199 | 236 | 235 | 227 | 184 | 183 | 183 | 181 | 205 | 230 | 251 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 24.93 | 18.95 | 14.95 | 11.95 | 29.92 | 23.93 | 6.97 | 10.97 | −1.99 | 9.97 | 21.92 | 6.98 |
| Cash from investing activity | −2.01 | −5.01 | −41.07 | −2.01 | −7.01 | −1.01 | −1.01 | −4.01 | −6.02 | −26.04 | −24.04 | −33.07 |
| Cash from financing activity | −19.95 | −10.98 | 18.95 | −7.98 | −24.96 | −22.96 | −6.99 | −4.99 | 7.98 | 15.96 | 2.99 | 24.94 |
| Net cash flow | 2.99 | 2.99 | −6.99 | 1.99 | −1.99 | 0.00 | −0.99 | 1.99 | −0.99 | 0.00 | 0.00 | −0.99 |
| Capex | 1.84 | 5.20 | 41.48 | 2.10 | 6.80 | 1.18 | 1.41 | 4.66 | 7.64 | 25.94 | 24.33 | 33.09 |
| Free cash flow | 24.01 | 13.98 | −25.98 | 9.99 | 22.99 | 22.98 | 5.99 | 6.99 | −7.99 | −15.99 | −2.99 | −25.97 |
| CFO / OP % | 186.0% | 128.0% | 118.0% | 68.0% | 114.0% | 304.0% | 58.0% | 68.0% | −8.0% | 89.0% | 92.0% | 37.0% |
| 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 | 91 | 97 | 98 | 98 | 95 | 102 | 134 | 107 | 102 | 94 | 124 | 159 |
| 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 | 69 | 86 | 108 | 93 | 96 | 122 | 171 | 147 | 109 | 128 | 143 | 184 |
| Working capital days | 34 | 29 | 18 | 36 | 42 | 53 | 85 | 74 | 44 | 53 | 38 | 52 |
| ROCE % | 2.0% | 5.0% | 6.0% | 9.0% | 10.0% | −2.0% | 1.0% | 6.0% | 4.0% | 9.0% | 12.0% | 12.0% |
For the Mar 2026 quarter, Kalyani Forge reported sales of ₹56.96 Cr, down 3.3% year on year and net profit of ₹5.89 Cr, up 162.9% year on year. The operating margin was 11.9%.
Kalyani Forge's sales for the year to Mar 2026 were ₹235 Cr; over the last twelve months they were ₹234 Cr.
Net profit for the year to Mar 2026 was ₹9.02 Cr, and ₹9.34 Cr over the last twelve months. Earnings per share over the same trailing period were ₹25.66.
Kalyani Forge reported borrowings of ₹106 Cr at Mar 2026, against cash and equivalents of ₹2.01 Cr.
Cash from operations was ₹6.98 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹25.97 Cr.