MMFLConsumer Discretionary

MM Forgings Limited

Auto Components & Equipments · ISIN INE227C01017 · BSE 522241 · NSE EQ · FV ₹10
Last price
₹619
+1.92%today
What this company does

MM Forgings Limited operates in Auto Components & Equipments, part of the Consumer Discretionary sector. It booked ₹410 cr of revenue in its latest quarter (Q1 FY27) and kept 22.1% of sales as profit.

In the report:
62out of 100
Equitytale Health Score
Mixed

Healthier than 62% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 63–421 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)
50

At close. Not part of the score.

Profitability & returns91

How much profit it earns on the money it employs

Balance sheet32

How much it owes, and whether earnings cover the interest

Cash quality83

Whether reported profit actually arrives as cash

Growth & consistency49

Whether sales and profit have grown, and how steadily

Valuation18

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
Strong 22% net margin
Sales up 13% vs last year
Profit up 371% vs last year
Promoters hold 56%
No promoter shares pledged
Strong 37% return on equity
Turns profit into real cash
Watch-outs
! Carries high debt (D/E 1.1)

What if I invest in MMFL?

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 slider starts at 10%, taken from this company's own free-cash-flow trend. That is history, not a forecast — 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 We do not publish price targets or predict returns.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
₹619 +1.92%
latest close · 2026-09-17
1-year return
+70.6%
52-wk low ₹32352-wk high ₹688
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 ratio8.3Low
LowAverageHigh
P/B ratio3.05High
Below bookModerateHigh
EV / EBITDA7.0Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity37.0%Strong
WeakFairStrong ▸15%
Return on capital26.5%Strong
WeakFairStrong
Net margin22.1%Strong
ThinDecentStrong
EBITDA margin33.5%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.10High
LowModerateHigh ▸1
Interest cover6.6×Strong
RiskyOkayStrong ▸5×
Current ratio1.18Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹2,987 cr
Book value
₹203
EPS
₹18.73
latest quarter
Net debt
₹849 cr
owes more than its cash
Enterprise value
₹3,836 cr
EBITDA
₹550 cr
annualised
EBIT
₹430 cr
annualised
Operating margin
26.2%
Return on assets
14.3%
Earnings yield
12.11%
P/S
1.82
Sales / share
₹339.6
Tax rate
1.0%
Face value
₹10
Shares
4.8 cr
Working capital
₹158 cr
Current assets
₹1,058 cr
Current liabilities
₹900 cr
Delivery %
48.0%
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 2026 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹296 vs market price ₹619 — price is 109% above it
Safety cushion-109.2%(target ≥ +20%)
Models span ₹195₹397, midpoint ₹296
Model ₹296
Price ₹619
Cheap sideExpensive side

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₹410 cr
Other Income₹17 cr
Total Income₹427 cr
Cost of Materials₹171 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹2 cr
Employee Benefit Expense₹51 cr
Finance Costs₹16 cr
Depreciation & Amortisation₹30 cr
Other Expenses₹121 cr
Total Expenses₹392 cr
Exceptional Items₹56 cr
Profit before Tax₹91 cr
Tax Expense₹89.7 L
Net Profit₹90 cr
Net margin on total income21.2%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹173 cr35.8%
Employee benefit expense₹51 cr10.6%
Finance costs₹16 cr3.4%
Depreciation & amortisation₹30 cr6.2%
Other expenses₹121 cr25.1%
Tax expense₹89.7 L0.2%
Profit for the period₹90 cr18.7%
Total income ₹427 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue414 cr430 cr410 cr
Total income417 cr430 cr427 cr
Expenses391 cr395 cr392 cr
Profit before tax26 cr35 cr91 cr
Tax9 cr-9 cr89.7 L
Net profit (owners' share)18 cr45 cr90 cr
Net margin (owners' share, on revenue)4.2%10.4%22.1%
EPS (₹)3.649.2718.73
YoY (latest quarter): total income +15.5% · net profit +371.3%
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹2,524 cr
Shareholder equity
₹978 cr
parent shareholders
Total debt
₹1,074 cr
Cash
₹225 cr
Cash flow · H1 FY26
Operating
₹41 cr
Investing
₹-80 cr
Financing
₹54 cr
Peer comparison
Auto Components & Equipments · by market value
CompanyPriceMarket capP/E
Samvardhana Motherson International Limited₹162₹1.71 L cr41.3
Bosch Limited₹47,735₹1.41 L cr49.8
Bharat Forge Limited₹1,919₹91,740 cr
UNO Minda Limited₹1,205₹69,583 cr58.8
Schaeffler India Limited₹3,991₹62,379 cr48.0
Tube Investments of India Limited₹2,599₹50,313 cr74.6
Sona BLW Precision Forgings Limited₹778₹48,388 cr67.1
Endurance Technologies Limited₹2,691₹37,849 cr38.7
Exide Industries Limited₹419₹35,581 cr25.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.65%
trailing 12 months
Dividend / share (TTM)
₹4
Last dividend
₹4
ex 12 Jun 2026
ActionDetailEx-date
Dividend₹4 / share12 Jun 2026
Dividend₹4 / share30 Jul 2025
Bonus issue1:116 Jul 2024
Dividend₹8 / share14 Jun 2024
Dividend₹6 / share29 May 2023
Dividend₹6 / share6 Jun 2022
Who owns it · 2026-06-30
No pledge
Promoter
56.3%
FII / Foreign
2.4%
DII / Domestic
7.5%
Retail / others
33.7%
Smart-money activity
Insider trades
SoldS.LAKSHMAN · Promoter Group79 · ₹86,5059 Mar 18
SoldS.LAKSHMAN · Promoter Group1,000 · ₹10.8 L5 Mar 18
SoldS.LAKSHMAN · Promoter Group1,000 · ₹10.8 L28 Feb 18
Bulk / block deals
short · NSE3327 Sep 24
BoughtGRAVITON RESEARCH CAPITAL LLP · NSE1.29 L @ ₹1,259.6327 May 24
SoldGRAVITON RESEARCH CAPITAL LLP · NSE1.29 L @ ₹1,260.0927 May 24
Stake changes
SoldHSBC Mutual Fund→ 2.97% · 4.95 L4 Mar 24
SoldFranklin Templeton Mutual Fund (through its various schemes)→ 4.77% · 2.00 L18 Apr 23
BoughtL&T Mutual Fund→ 5.02% · 4,74219 Mar 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.

Yearly shareholder meeting · 8 Aug 2026
See the official result
1
To receive, consider and adopt, The audited standalone financial statements of the Company for the year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon & The audited consolidated financial statements of the Company for the year ended March 31, 2026, together with the Report of the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
66.94 L votes for, 4 against · 0% of mutual funds and other big investors said no
2
To appoint a director in place of Smt. Sumita Vidyashankar, (holding DIN 00059062) who retires by rotation and being eligible offers herself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
66.77 L votes for, 17,004 against · 0% of mutual funds and other big investors said no
3
To appoint a director in place of Shri. Ramnath Nagarajan, (holding DIN 00081516) who retires by rotation and being eligible offers himself for re-appointment.
Backed by 94% of shareholders other than promotersneeded 50%
62.92 L votes for, 4.02 L against · 9% of mutual funds and other big investors said no
4
Ratification of Remuneration paid to the Cost Auditor
Backed by 100% of shareholders other than promotersneeded 50%
66.94 L votes for, 12 against · 0% of mutual funds and other big investors said no

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 — 11 named members
owning 56.3% between them · as of 2026-06-30
SYNMAX CONSULTANTS AND TRADING PVT LTD24.01%
KRISHNAN VIDYA SHANKAR11.27%
K VENKATRAMANAN10.71%
SIVASUNDAR PRIVATE LTD3.88%
S LAKSHMAN3.08%
LAKSHMI RAMACHANDRAN2.35%
R SUBRAMONIAN0.64%
AJAY SHANKAR RAMACHANDRAN0.22%

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.