Forge Auto International share price & results
- Mar 2026
- Mar 2026
Ludhiana (Punjab) manufacturer, exporter and OEM supplier of closed-die hot forged and precision-machined steel and aluminium components for automotive, tractor, railway, defence and EV makers.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 136 | +30.8% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 10.0 | +1.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 6.0 | 0.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | ||
| Free cash flow margin | 7.75 | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. | |
| Revenue growth (YoY) | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −29.3% 1Y
1Y: ₹139.95 on 24 Oct 2025 → ₹99. High ₹140 (3 Nov 2025), low ₹68.5 (30 Mar 2026).
- Previous close
- ₹96
- Market cap
- ₹108 Cr
- 52-week range
- ₹68.5 – ₹140
- One year
- −29.26%
- Price to earnings (FY ending Mar 2026)
- 9.00×
- Return on equity (FY ending Mar 2026)
- 17.14%
Overview
- Symbol
- NSE:FORGEAUTO
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What Forge Auto International Ltd does
Based on the company's own presentations, annual report and earnings calls.
Forge Auto International manufactures customized closed-die hot forged components in carbon and alloy steel (1 kg to 20 kg) and aluminium forgings (500 gms to 6 kg) at its single manufacturing unit in Ludhiana, Punjab. It supplies these forged and machined components as an OEM supplier across automotive, tractor/agricultural machinery, railway, defence, construction equipment, heavy commercial vehicle and electric-vehicle customers, both domestically and via exports. In-house process capability spans forging (drop-forge hammers, electric screw presses, ring rolling), heat treatment, shot blasting, crack detection and CNC machining, run under ISO 9001, IATF 16949, ISO 14001 and ISO 45001 certification.
Segments
- Automotive Industry
- Agricultural Machinery
- Railway Industry
- Defence Industry
- Construction Equipment
- Heavy Commercial Vehicles
- Electric Vehicles
- Striking Tools
- Caster Wheel Components
- Container Components
- Manufacturing units
- 1 (Village Mangarh, Kohara-Machhiwara Road, Ludhiana, Punjab)
- Forging line equipment
- 6 Drop Forged Hammers, 4 Electric Screw Presses (1600 MT, 1000 MT, 2×630 MT) and 1 CNC Ring Rolling Machine
- Export markets
- 10 countries/regions beyond India — Germany, Denmark, France, Poland, Turkey, U.K., North America, Austria, Italy, South America
- Sectors served
- 10 — automotive, agricultural machinery, railway, defence, construction equipment, heavy commercial vehicles, electric vehicles, striking tools, caster wheel components, container components
- In-house process shops
- Die Shop, Forge Shop, Heat Treatment, Shot Blasting, Magna Flux Crack Detection (MPI), Machine Shop (CNCs/VMCs/SPM), Standard Room (CMM, height gauge, roughness tester)
- Forged component weight range
- Steel forgings 1–20 kg; aluminium forgings 0.5–6 kg
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 1 fiscal year held (Mar 2026 to Mar 2026).
Financials
What the filings say
Net profit, year on year: 0% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 106 | 104 | 134 | 136 |
| Expenses | 98 | 94 | 120 | 123 |
| Operating profit | 8 | 10 | 14 | 13 |
| Operating margin | 8.0% | 9.0% | 11.0% | 10.0% |
| Other income | 1 | 2 | 1 | 1 |
| Interest | 2 | 2 | 4 | 4 |
| Depreciation | 1 | 2 | 3 | 2 |
| Profit before tax | 6 | 8 | 8 | 9 |
| Tax rate | 28.0% | 28.0% | 27.0% | 29.0% |
| Net profit | 4 | 6 | 6 | 6 |
| EPS (₹ per share) | 5.01 | 5.04 | 5.51 | 5.79 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 11 | 14 | 17 | 8 | 11 | 11 |
| Reserves | 0 | 0 | 0 | 13 | 47 | 59 |
| Borrowings | 23 | 26 | 32 | 36 | 36 | 72 |
| Other liabilities | 19 | 17 | 34 | 38 | 41 | 55 |
| Total liabilities | 53 | 57 | 83 | 95 | 135 | 196 |
| Fixed assets | 19 | 23 | 26 | 24 | 31 | 64 |
| Capital work in progress | 1 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 2 | 3 | 84 |
| Other assets | 33 | 34 | 57 | 68 | 101 | 48 |
| Total assets | 53 | 57 | 83 | 95 | 135 | 196 |
| Line item | Mar 2026 |
|---|---|
| Cash from operations | 24 |
| Cash from investing | -4 |
| Cash from financing | -22 |
| Net cash flow | -2 |
| Free cash flow | 21 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 55 | 57 | 67 | 52 | 37 | 50 |
| Inventory days | 76 | 50 | 73 | 135 | 171 | 0 |
| Days payable | 74 | 58 | 96 | 110 | 91 | — |
| Cash conversion cycle | 57 | 50 | 44 | 77 | 118 | 50 |
| Working capital days | 5 | 0 | -6 | 10 | 50 | 35 |
| Return on capital employed | — | 18.0% | 23.0% | 24.0% | 24.0% | — |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
What the price assumes
- Growth the price implies
- -11.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
Ownership
Who owns it
Promoters hold 73.63% as of Mar 2026; institutions added 0.29 pts since Sept 2025.
- Promoters 73.63%
- Foreign institutions 0.00%
- Domestic institutions 5.66%
- Public 20.71%
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- AIF +0.29 pp 5.66% held
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Forge Auto International Ltd above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| 33.81% | unchanged | |
| 30.79% | unchanged | |
| 7.91% | unchanged | |
| AIF | 5.66% | +0.29 pp |
| 1.01% | unchanged | |
| 0.02% | unchanged | |
| 0.02% | unchanged | |
| 0.02% | unchanged | |
| 0.02% | unchanged | |
| 0.02% | unchanged | |
| 0.02% | unchanged | |
| — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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