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Munish Forge share price & results

Munish Forge Ltd· Capital Goods· Industrials

Results to
Mar 2026
Latest analysed call
Q2 FY26
Ownership as of
Mar 2026

Forging manufacturer supplying defense ordnance (HE bombshells, tank tracks) and railway components, including Vande Bharat parts.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue100 ₹ crore+11.1% YoYQuarterly, as filedQuarter to Mar 2026Revenue from operations as filed.
Operating margin9.0 %−6.0 pts YoYOperating profit / revenueQuarter to Mar 2026For the quarter; a change is in percentage points.
Net profit3.0 ₹ crore−62.5% YoYQuarterly, as filedQuarter to Mar 2026Profit after tax as filed.
Return on equityUnavailable−15.4 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.
Free cash flow margin-22.21 %−17.6 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)Unavailable−5.5 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Mar 2026

Guidance

What management said, and what became of it

6 targets tracked, none judged yet · 6 open · verdicts reflect calls analysed to Q2 FY26.

Munish Forge Ltd management guidance track record on Inve: 6 targets tracked across analysed earnings calls (0 achieved, 0 missed, 6 open).

TargetOriginal wordingSaidLatest callVerdict
Total Revenue₹205 crores
Call transcript, Q2 FY26 · 24 Nov 2025		Q2 FY26Q2 FY26:Management expects a revenue of about 205 CR for the financial year of 2026.
Call transcript, Q2 FY26 · 24 Nov 2025		New

Source: Inve Guidance Tracker for Munish Forge Ltd · to Q2 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

6 of Munish Forge Ltd's 6 targets are still open. See which are on track and which have gone quiet. The 1 above are the free sample; 5 more targets are in the full ledger.

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Price

₹82.1 +2.62% · +₹2.1

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −37.0% 1Y

₹60₹80₹100₹120Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 24 Nov 2025

1Y: ₹130.25 on 24 Oct 2025 → ₹82.1. High ₹131.3 (31 Oct 2025), low ₹53.8 (19 Mar 2026).

Previous close
₹80
Market cap
₹208 Cr
52-week range
₹53.8 – ₹131.3
One year
−34.24%
Price to earnings (FY ending Mar 2026)
20.80×
Return on equity (FY ending Mar 2026)
10.31%

Overview

Symbol
NSE:MUNISH
Industry
Industrials
Exchange
NSE
Currency
INR

What Munish Forge Ltd does

Based on the company's own presentations, annual report and earnings calls.

Munish Forge Ltd is a forging manufacturer whose product mix has been shifting toward higher-margin defense and railway components. On the defense side it makes 120MM HE bombshells, for which it has received bulk production clearance, and tank tracks, while working toward manufacturing clearance for 155MM HE bombshells. In railways, the company has secured developmental orders for niche, difficult-to-make parts, including a third order for the Vande Bharat segment.

Segments

  • Defense
  • Railways
155MM bombshell production capacity (potential, once cleared)
5,000-6,000 units/month
Railway developmental orders secured
3 (including entry into Vande Bharat segment)
Defense products cleared for bulk production
120MM HE bombshells

How the price took the results

close before → close after

Q2 FY26
−2.1%
24 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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