KALYANIFRGIndustrials

Kalyani Forge Limited

Castings & Forgings · ISIN INE314G01014 · BSE 513509 · NSE BE · FV ₹10
Last price
₹1,016
+2.09%today
What this company does

Kalyani Forge Limited operates in Castings & Forgings, part of the Industrials sector. It booked ₹67 cr of revenue in its latest quarter (Q1 FY27) and kept 6.7% of sales as profit. It is the 8th largest of 9 Castings & Forgings companies we track, by market value.

In the report:
56out of 100
Equitytale Health Score
Mixed

Healthier than 56% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
64

At close. Not part of the score.

Profitability & returns74

How much profit it earns on the money it employs

Balance sheet27

How much it owes, and whether earnings cover the interest

Cash quality47

Whether reported profit actually arrives as cash

Growth & consistency54

Whether sales and profit have grown, and how steadily

Valuation47

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Profit up 218% vs last year
Promoters hold 59%
No promoter shares pledged
Strong 19% return on equity
Watch-outs
! Thin 6.7% net margin
! Carries high debt (D/E 1.1)
! Operating cash flow is negative

What if I invest in KALYANIFRG?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,016 +2.09%
latest close · 2026-09-17
1-year return
+372.3%
52-wk low ₹16252-wk high ₹1,192
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio20.6Average
LowAverageHigh
P/B ratio3.87High
Below bookModerateHigh
EV / EBITDA10.9Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity18.8%Strong
WeakFairStrong ▸15%
Return on capital22.6%Strong
WeakFairStrong
Net margin6.7%Decent
ThinDecentStrong
EBITDA margin16.3%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.11High
LowModerateHigh ▸1
Interest cover4.6×Okay
RiskyOkayStrong ▸5×
Current ratio1.32Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹370 cr
Book value
₹263
EPS
₹12.31
latest quarter
Net debt
₹105 cr
owes more than its cash
Enterprise value
₹475 cr
EBITDA
₹44 cr
annualised
EBIT
₹32 cr
annualised
Operating margin
11.8%
Return on assets
7.1%
Earnings yield
4.85%
P/S
1.38
Sales / share
₹734.2
Tax rate
27.2%
Face value
₹10
Shares
0.4 cr
Working capital
₹36 cr
Current assets
₹148 cr
Current liabilities
₹112 cr
Delivery %
57.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹110₹321, midpoint ₹216

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹67 cr
Other Income₹27.7 L
Total Income₹67 cr
Cost of Materials₹20 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹10 cr
Employee Benefit Expense₹11 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹3 cr
Other Expenses₹14 cr
Total Expenses₹61 cr
Profit before Tax₹6 cr
Tax Expense₹2 cr
Net Profit₹4 cr
Net margin on total income6.7%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹31 cr45.9%
Employee benefit expense₹11 cr16.7%
Finance costs₹2 cr2.6%
Depreciation & amortisation₹3 cr4.5%
Other expenses₹14 cr21.1%
Tax expense₹2 cr2.5%
Profit for the period₹4 cr6.7%
Total income ₹67 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue58 cr57 cr67 cr
Total income58 cr59 cr67 cr
Expenses54 cr53 cr61 cr
Profit before tax4 cr6 cr6 cr
Tax4 cr25 L2 cr
Net profit (owners' share)-11.9 L6 cr4 cr
Net margin (owners' share, on revenue)-0.2%10.3%6.7%
EPS (₹)-0.3316.1712.31
YoY (latest quarter): total income +3.9% · net profit +218.5%
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹251 cr
Shareholder equity
₹96 cr
parent shareholders
Total debt
₹106 cr
Cash
₹23.3 L
Cash flow · H1 FY26
Operating
₹-2 cr
Investing
₹-11 cr
Financing
₹14 cr
Peer comparison
Castings & Forgings · by market value
CompanyPriceMarket capP/E
AIA Engineering Limited₹3,983₹37,173 cr30.9
PTC Industries Limited₹22,670₹33,988 cr291.1
Happy Forgings Limited₹2,143₹20,227 cr55.2
Balu Forge Industries Limited₹502₹6,089 cr22.8
Steelcast Limited₹303₹3,075 cr32.4
Nelcast Limited₹108₹940 cr45.8
Synergy Green Industries Limited₹592₹920 cr
Kalyani Forge Limitedthis company₹1,016₹370 cr20.6
Hilton Metal Forging Limited₹17₹88 cr12.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.39%
trailing 12 months
Dividend / share (TTM)
₹4
Last dividend
₹4
ex 21 Aug 2026
ActionDetailEx-date
Dividend₹4 / share21 Aug 2026
Dividend₹4 / share22 Aug 2025
Dividend₹3 / share20 Sep 2024
Dividend₹3 / share13 Sep 2023
Dividend₹3 / share10 Aug 2022
Dividend₹1.5 / share5 Aug 2021
Who owns it · 2026-06-30
No pledge
Promoter
58.8%
Public
41.2%
Smart-money activity
Bulk / block deals
SoldDELHI IRON & STEEL COMPANY PVT LTD · NSE25,000 @ ₹29812 Aug 15
BoughtAMRIT STEEL PRIVATE LIMITED · NSE25,000 @ ₹29812 Aug 15
Stake changes
BoughtBF Investment Limited→ 15.65% · 5.70 L20 Nov 18
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 5 Mar 2026
See the official result
1
Appointment of Mr. Viswanathan Swaminathan (DIN: 00638389) as an Independent Director of the Company.
Backed by 84% of shareholders other than promotersneeded 75%
561 votes for, 105 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 19 named members
owning 58.8% between them · as of 2026-06-30
Kalyani Consultants Pvt.Ltd.10.37%
Vakratund Investment Pvt Ltd9.41%
Pax Investments Pvt Ltd9.35%
Squirrel Financers And Investors Pvt Ltd5.13%
Bellona Investment Pvt Ltd4.76%
Kalyani Exports & Investments Pvt.Ltd.2.63%
Attila Investment Pvt Ltd2.60%
Monte Carlo Investment Private Limited2.60%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.