Ganga Forging share price & results
- Jun 2026
- Sept 2026
Rajkot (Gujarat)-based steel forging manufacturer of crankshafts, connecting rods, yokes and flanges for automotive, railway, construction, agricultural and earth-moving equipment OEMs, with exports.
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 | 7.2 | −7.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 9.3 | +10.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1.1 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | -10.87 | −13.9 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -7.89 | +6.8 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -17.40 | −33.7 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −61.6% 1Y
1Y: ₹3.65 on 24 Oct 2025 → ₹1.4. High ₹3.79 (29 Dec 2025), low ₹1.37 (26 Oct 2026).
- Previous close
- ₹1.37
- Market cap
- ₹46 Cr
- 52-week range
- ₹1.37 – ₹3.79
- One year
- −61.64%
- Return on equity (TTM to Jun 2026)
- -10.87%
Overview
- Symbol
- NSE:GANGAFORGE
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Ganga Forging Limited does
Based on the company's own presentations, annual report and earnings calls.
Ganga Forging Limited manufactures forged and machined steel components to customer specifications for original equipment manufacturers (OEMs) and parts-manufacturing units, using fully automated forging and machining lines at its ISO 9001:2015 certified unit. Its product range includes crankshafts, connecting rods, forged yokes, trunnion pins, flanges, clamps and shackles, used in the automotive, railway, construction equipment, agricultural machinery and earth-moving equipment industries. The company also exports forged components in raw, semi-finished or finished stages depending on buyer requirements.
- Manufacturing unit
- 1 (Sadak Pipaliya, Gondal, Rajkot, Gujarat)
- Forged product lines
- 17+
- Quality certification
- ISO 9001:2015
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +466% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 12 | 12 | 12 | 8 | 8 | 9 | 11 | 7 |
| Expenses | 11 | 11 | 11 | 8 | 11 | 8 | 11 | 7 |
| Operating profit | 1 | 0 | 1 | -0 | -2 | 0 | -0 | 1 |
| Operating margin | 5.1% | 4.2% | 5.0% | −0.8% | −28.3% | 4.5% | −0.9% | 9.3% |
| Other income | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | -0 | -3 | 0 | -1 | 1 |
| Tax rate | −12.5% | 12.9% | 366.7% | 47.4% | 3.5% | 20.0% | −33.3% | −10.4% |
| Net profit | 0 | 0 | -0 | -0 | -3 | 0 | -0 | 1 |
| EPS (₹ per share) | 0.01 | 0.01 | 0 | -0.01 | -0.09 | 0 | -0.01 | 0.03 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 37 | 43 | 36 |
| Expenses | 35 | 41 | 38 |
| Operating profit | 3 | 2 | -2 |
| Other income | 0 | 1 | 1 |
| Interest | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 |
| Profit before tax | 1 | 1 | -4 |
| Net profit | 1 | 1 | -4 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 11 | 11 | 13 | 13 | 13 | 13 |
| Reserves | 1 | 3 | 18 | 19 | 15 | 15 |
| Borrowings | 12 | 14 | 10 | 17 | 17 | 20 |
| Other liabilities | 8 | 7 | 5 | 10 | 13 | 12 |
| Total liabilities | 31 | 35 | 46 | 59 | 59 | 60 |
| Fixed assets | 14 | 16 | 16 | 18 | 18 | 18 |
| Capital work in progress | 2 | 1 | 0 | 0 | 1 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 15 | 18 | 30 | 41 | 41 | 40 |
| Total assets | 31 | 35 | 46 | 59 | 59 | 60 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 2 | 1 | -1 | -11 | -4 | 0 |
| Cash from investing | -0 | -2 | -1 | -1 | -2 | -3 |
| Cash from financing | -2 | 0 | 2 | 12 | 6 | 3 |
| Net cash flow | 0 | -0 | 0 | 1 | -1 | -0 |
| Free cash flow | 2 | -0 | -2 | -12 | -6 | -3 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 115 | 61 | 62 | 83 | 68 | 58 |
| Inventory days | 205 | 181 | 182 | 245 | 244 | 267 |
| Days payable | 184 | 82 | 76 | 29 | 81 | 116 |
| Cash conversion cycle | 136 | 160 | 169 | 299 | 231 | 209 |
| Working capital days | 12 | 30 | 26 | 162 | 96 | 82 |
| Return on capital employed | 4.3% | 9.8% | 4.7% | 4.6% | 3.2% | −6.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Public hold 64.49% as of Sept 2026; institutions cut 12.76 pts since Jul 2026.
- Promoters 35.51%
- Foreign institutions 0.00%
- Domestic institutions 0.00%
- Public 64.49%
Who bought this quarter
since Jul 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 10.01% held
- newly disclosed 4.58% held
- newly disclosed 3.87% held
- newly disclosed 2.77% held
- newly disclosed 2.77% held
- newly disclosed 2.57% held
- newly disclosed 2.06% held
- newly disclosed 2.03% held
The same filing shows 0 holders trimming and 13 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Ganga Forging Limited above SEBI's 1% disclosure line, and what changed since Jul 2026.
| Holder | Stake | Change |
|---|---|---|
| 10.01% | newly disclosed | |
| 4.58% | newly disclosed | |
| 3.87% | newly disclosed | |
| 2.77% | newly disclosed | |
| 2.77% | newly disclosed | |
| 2.57% | newly disclosed | |
| 2.06% | newly disclosed | |
| 2.03% | newly disclosed | |
| 1.95% | newly disclosed | |
| 1.92% | newly disclosed | |
| 0.99% | newly disclosed | |
| FPI fund | — | 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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