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    Balu Forge

    Forges & precision-machines components for global OEMs across auto, defence, aerospace, rail and energy.

    Capital Goods
    Industrials
    ₹448.75
    -6.74% from avg

    Overview

    Price

    ₹448.75

    Market Cap

    ₹5.4k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    4

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital698283103111114121
    Reserves9761144509421.1k1.5k
    Borrowings264752494082152
    Other Liabilities6878121111159194104
    Total Liabilities1712843717121.3k1.5k1.9k
    AssetsFixed Assets42424857183436547
    CWIP077130417351277
    Investments0000000
    Other Assets1292353165256527371.0k
    Total Assets1712843717121.3k1.5k1.9k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating17-5826-3214832
    Cash from Investing-3-8-21-134-417-354
    Cash from Financing-1269-6249274315
    SummaryCapital Expenditure
    Free Cash Flow14-655-166-268-175
    FCF Margin

    Valuation

    Assumptions

    Current — BALUFORGE
    Price
    ₹449
    EPS (TTM)
    ₹20.67
    PE (TTM)
    21.7
    Profit growth
    84.6%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (32.6×) and current (21.7×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹449
    vs
    Fair value · 15% return
    ₹5,644
    1158%Undervalued

    At 84.6% growth and a 22× exit, ₹449 only delivers your return if you pay ₹5,644. The price is currently baking in 17% growth.

    EPS grows 84.6%/yr for 5 years, then fades to 6% over 2, exits at 22×.

    YearGrowthEPS (₹)
    FY2784.6%38.16
    FY2884.6%70.44
    FY2984.6%130.03
    FY3084.6%240.03
    FY3184.6%443.10
    FY3245.3% ·fade643.82
    FY336.0% ·fade682.45

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Balu Forge

    Guides on how to read this kind of business and the numbers that matter.