Balu Forge Q1FY27: USD 60M FCCB plan, Rs 1,000 cr borrowing limit hike
BALUFORGE · price
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On the reaction day the stock moved 3.4 pts less than Nifty Microcap 250 and 3.0 pts less than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Balu Forge Q1FY27: Standalone revenue Rs 17,501 lakh (up 16.7%), PAT Rs 3,779 lakh. Consolidated revenue jumped 28.9% to Rs 30,071 lakh, PAT Rs 6,609 lakh. Board approved USD 60 million FCCB issuance and raising overall borrowing limit to Rs 1,000 crore, subject to EGM nod on Sept 4. Auditor flagged a Rs 2,250 lakh property purchase from MD as a related party transaction, plus ongoing Income Tax block assessment.
Strong consolidated growth and expansion plans, but related party property deal and tax probe are governance concerns.